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Author Topic: What does K colour do to this value?  (Read 1537 times)
iceamateur
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« on: June 18, 2009, 09:55:04 AM »

Is this worth it? I am trying a divide up an estate and have an identical ring to this...but don't know if ebay is the best price point reference. I thought I would ask you all. Thanks!
It is an old family ring....
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Diamondsbylauren
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« Reply #1 on: June 18, 2009, 11:03:03 AM »

Hi iceamateur ,

Do you have a photo of the ring you're trying to evaluate? Or some specs?

eBay does not offer a reliable manner to estimate values on diamonds.
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David
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iceamateur
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« Reply #2 on: June 18, 2009, 11:37:54 AM »

My ring looks exactly like this one...the old appraisal (I think from the 1960's) says approx 3cts center diamond, sI1 clarity, k color......There are .24 natural emeralds surrounding it with 4.0g platinum. I see a few of these with rubies or sapphires but not many with emeralds. I don't know if that is a good or bad thing? :)I just need a rough idea as we have a large number of pieces that need to be sorted rather quickly. I suggested getting new appraisals but speed has taken the priority.
Thanks so much! Sorry for my ignorance...I am learning as I go along.
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Trinkette
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« Reply #3 on: June 18, 2009, 01:32:31 PM »

Is there a photo attachment we're supposed to be seeing?
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iceamateur
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« Reply #4 on: June 18, 2009, 03:45:01 PM »

Just the ebay image. The actual ring is in a safety deposit box....that is why I lifted the ebay version. Sorry.
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oldmancoyote
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« Reply #5 on: June 18, 2009, 04:19:17 PM »

Sorry, but I can't find any ebay link or image.
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Mrs Mitchell
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« Reply #6 on: June 18, 2009, 04:21:14 PM »

Hi there, I'm not seeing any link or attachment. If you could post a photo, that would be great.

Otherwise, the best thing I can suggest is that you take the ring to an independent appraiser (one who doesn't sell or deal in diamonds or jewelry for preference). This would probably be the quickest and most reliable way of getting a value for the piece.

 I understand the need to act quickly, but as you're dealing with an estate (and I'm assuming you're the executor) I think accuracy is going to be most important. I would get professional opinion on all high value pieces, to avoid future claims / concerns. Hope you don't mind me throwing in my 2 cents worth there.

I do hope you haven't lost someone close.  

Jen
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iceamateur
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« Reply #7 on: June 18, 2009, 04:31:11 PM »

Good idea...I hadn't thought about future disputes. Thanks!
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Mrs Mitchell
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« Reply #8 on: June 18, 2009, 04:35:55 PM »

Hope you get it sorted out as quickly as possible. Good luck!

Jen
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« Reply #9 on: June 18, 2009, 05:08:12 PM »

I agree with Jen- We hope you have not someone close....

But this does raise some interesting questions.
For one thing, an appraisal value is not a "fixed" price.
For example, if I was appraising a one carat G/Si1 diamond.....
I'd need to ask the person I was writing the appraisal for what type of value they wanted.
if they were trying to sell it on eBay ( for example) the value would be a fraction of the price Tiffany might charge.

In the case of trying to split an estate, I'd wonder which value would be fair?
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Mrs Mitchell
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« Reply #10 on: June 18, 2009, 05:39:30 PM »

That's a really interesting point.  If each heir receives a piece of property of roughly equal value, the basis of the valuation may not matter. If one receives a ring while another receives an equivalent cash sum, then the basis of the evaluation is very important.

I'd get a lawyer to advise, since there may be specific rules or precedent where you live to cover this type of situation. Since you have a lot of pieces, it might be worth taking legal advice.

As an executor, my priority would be ensuring a fair and transparent process. The basis of the valuation (replacement cost / re-sale value / insurance value) would be less important than having all pieces valued consistently and the basis of the valuation clearly stated, in writing, by the (professionally qualified) person who provided it. An executor who did this would likely be deemed to have acted in good faith in the event of any dispute.

I hope this is helpful to you, and that you can find a way forward.

Jen
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Mikla
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« Reply #11 on: June 18, 2009, 06:56:26 PM »

Not that I'm any sort of expert, but I'd sell the whole lot at auction and split the proceeds to avoid disputes.  Of course, if someone actually wants the jewelry, that becomes a very sticky situation since appraisals can vary so much.  One definition of the true value of something, using accounting standards as a guide, is what a willing buyer will pay a willing seller in an arm's length transaction.  In other words, someone without a relationship with either side.  Does that help or make it worse?   Huh?

Mikla
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iceamateur
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« Reply #12 on: June 19, 2009, 08:55:29 AM »

You all are so wonderful and forthcoming with excellent information and advice. Thank you for all your help. I will keep you posted on this complicated process.
Blessings
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Mrs Mitchell
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« Reply #13 on: June 19, 2009, 01:48:48 PM »

Yes, please do let us know how you resolve things. I hope it isn't too painful a process for you.

Good luck.

Jen
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