Author Topic: Reasons to go with someone you trust!  (Read 10782 times)

Offline newhope

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Reasons to go with someone you trust!
« on: May 08, 2008, 11:24:19 PM »
Well, if you've been following the "sending a stone of next week" thread, you'll know what my Girlfriend would prefer a colorless diamond to the pink that I have, so I've talked with David at DBL about selling it for me on consignment, but before we can go any further, I have to be able to tell him what I'd like to get for the stone.

Since I'm no expert on what the stone is worth, I've been trying to get an appraisal. (Not that an appraisal will tell me what the stone is actually worth, but at least it'll be a start!)

First Experience:

Jeweler offers "verbal appraisal" for free or a written insurance appraisal for $59.95 plus tax
I ask the jeweler if he's qualified to appraise colored diamonds. He assures me he is.
I ask for the verbal appraisal to start with. He takes out his Rapp sheet, and a calculator, and declares the value at $2007 for insurance purposes, and says that a written appraisal will say the same, but have more information for the insurance company etc.

I asked the jeweler why the price was that low, and he proceeded to inform me that the only colored diamonds worth more than colorless stones where blue, and any other color was worth less than a colorless diamond.

I asked if he had any fancy pink or yellow diamonds he'd like to sell me for $2500 a carat.  >:D

Second Experience:

Another Jeweler offers either a free verbal appraisal or a $75 written appraisal.
I ask the jeweler if he's qualified to grade a colored diamond, he says he is. The jeweler then tells me that he's willing to write any price I'd like him to on the appraisal, but anything over $100,000 will cost $100 for the written appraisal.  ::)

 :david:, it might take a little while longer for me to figure it out  :-\

Offline GIAGirl

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Re: Reasons to go with someone you trust!
« Reply #1 on: May 08, 2008, 11:52:17 PM »
That is horrible!  I am sorry you are having such trouble.   :(

Offline Mrs Mitchell

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Re: Reasons to go with someone you trust!
« Reply #2 on: May 09, 2008, 03:47:43 AM »
That's absurd. The second guy should be reported for fraud (in the UK it would be to Trading Standards, not sure what your equivalent would be). I wonder how many insurance companies have paid an inflated sum based on his appraisals? They'll be interested in this, I'd guess. Also consumers who have insured for less than a stone is worth.

Very interesting. I hope you can find a trustworthy appraiser (and I am sure there are many out there) before these characters give them all a bad name.

Jen
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jennifer@diamondsbylauren.com

Offline GracefulLion

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Re: Reasons to go with someone you trust!
« Reply #3 on: May 09, 2008, 09:03:09 AM »
Oh my!  That is terrible.  I had a very tough time getting my first colored diamond appraised too.  In my case, most appraisers just turned down the job because they didn't know enough, which I appreciate as they were being trustworthy.  I finally found someone through a friend of a friend, but it was really tough.  Did David have any advice on how to find someone?  Does the GIA have any kind of referral service to appraisers qualified to look at colored diamonds?

Offline newhope

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Re: Reasons to go with someone you trust!
« Reply #4 on: May 09, 2008, 11:48:59 AM »
Don't worry guys, the first thing I did this morning was report the second jeweler to the better business bureau  :police:

There are two jewelers in town that didn't offer "verbal appraisals" and who said they would need the stone and GIA documents for anywhere from a few days to a few weeks to be able to appraise it properly. they both provide both "insurance value" and "retail value" numbers for their appraisals.

I'll be getting an appraisal from both of those jewelers. it just means it's gonna be a few weeks. 

Offline Diamondsbylauren

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Re: Reasons to go with someone you trust!
« Reply #5 on: May 09, 2008, 12:35:25 PM »
It's a common problem as very few dealers are aware of the specifics of pricing fancy colored diamonds. Appraisers really follow the lead of dealers- therefore I'd say your chances of finding an appriaser that can give an informed answer is next to nil.

I have had some very well known appraisers call me to get prices.....

David
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Offline Diamondsbylauren

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Re: Reasons to go with someone you trust!
« Reply #6 on: May 09, 2008, 07:33:22 PM »
Well, if you've been following the "sending a stone of next week" thread, you'll know what my Girlfriend would prefer a colorless diamond to the pink that I have, so I've talked with David at DBL about selling it for me on consignment, but before we can go any further, I have to be able to tell him what I'd like to get for the stone.

Since I'm no expert on what the stone is worth, I've been trying to get an appraisal. (Not that an appraisal will tell me what the stone is actually worth, but at least it'll be a start!)

First Experience:

Jeweler offers "verbal appraisal" for free or a written insurance appraisal for $59.95 plus tax
I ask the jeweler if he's qualified to appraise colored diamonds. He assures me he is.
I ask for the verbal appraisal to start with. He takes out his Rapp sheet, and a calculator, and declares the value at $2007 for insurance purposes, and says that a written appraisal will say the same, but have more information for the insurance company etc.

I asked the jeweler why the price was that low, and he proceeded to inform me that the only colored diamonds worth more than colorless stones where blue, and any other color was worth less than a colorless diamond.

I asked if he had any fancy pink or yellow diamonds he'd like to sell me for $2500 a carat.  >:D

Second Experience:

Another Jeweler offers either a free verbal appraisal or a $75 written appraisal.
I ask the jeweler if he's qualified to grade a colored diamond, he says he is. The jeweler then tells me that he's willing to write any price I'd like him to on the appraisal, but anything over $100,000 will cost $100 for the written appraisal.  ::)

 :david:, it might take a little while longer for me to figure it out  :-\

By the way, I'm really sorry you've had these bad experiences.
Sad to say, I'm not surpised.
Remember, it's not all that difficult for a person selling to be allright if they are not a complete and total expert on diamonds- of course it's not ideal- but at least if a seller has good sources, he can show, and sell nice diamonds.
If you put that person in the position of having to appraise things, it's a totaly different story.

In the case of a stone, which has an I1 clarity grade, there is always going to be a large detraction in the value.
For sure, the guy pulling out an industry price guide had no idea about anything- but he probably knew an I1 was at least something he could use to try and ascertain the value. 

Actually, the premise of trying to get an appraisal to find out how much you can get for the diamond, is also a faulty line of reasoning.

Generally, people get appraisals to look for replacement value, which has no relevance when a private individual is attempting to sell a diamond.

To get an accurate answer, you have to find someone who knew what these things sold for, and ask them what he thinks you could sell it for.

Although we are not ruling such business out, we are not actively seeking consignment business right now.  However, when we do, the clients will need to send us their item so we can properly figure out what it can sell for.

Again, I'm sorry for what you've been through. 
« Last Edit: May 09, 2008, 07:34:37 PM by Diamondsbylauren »
David
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Offline newhope

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Re: Reasons to go with someone you trust!
« Reply #7 on: November 03, 2008, 03:13:12 AM »
Well, an update...

My third experience trying to get a local appraisal:

Jeweler keeps the stone for 2 weeks to do the appraisal, gives me the written appraisal, then offers to buy the stone for exactly what he appraised it for. When I'm not interested, he offers me more than he appraised it for. I asked for my money back. He didn't give it back.

Fourth experience:

Jewelry store uses an outside appraiser, so I drop the stone off, and pick it up a few days later, pay for the appraisal, "the appraisal will be done in 1 week, and we'll send it in the mail" and 4 months later.... still no word from them. I call once a month, and keep being told: "Oh... yes, it should be mailed tomorrow" It's too late for a chargeback unfortunately, and I have the feeling a refund for services NOT rendered would be "in the mail next week" too.

I give up
« Last Edit: November 03, 2008, 03:16:03 AM by newhope »

Offline GracefulLion

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Re: Reasons to go with someone you trust!
« Reply #8 on: November 03, 2008, 04:33:35 AM »
when I first read this I thought you were saying they still have your diamond!  I hate to be cynical, but are you positive you got your original diamond back?  Is there something very identifiable about it?

Offline newhope

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Re: Reasons to go with someone you trust!
« Reply #9 on: November 03, 2008, 05:15:09 AM »
... are you positive you got your original diamond back?  Is there something very identifiable about it?


Yeah, it's pretty identifiable... it's my .79 pink pear.. they'd have had a hard time doing the ole' switcheroo with that one, thankfully, otherwise you'd probably be right! I had okay pictures before, and decent pictures now

« Last Edit: November 03, 2008, 05:20:38 AM by newhope »

Offline GracefulLion

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Re: Reasons to go with someone you trust!
« Reply #10 on: November 03, 2008, 05:33:00 AM »
Oh, that's right.  Phew!

Online oldmancoyote

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Re: Reasons to go with someone you trust!
« Reply #11 on: November 03, 2008, 06:08:25 AM »
Well, an update...

My third experience trying to get a local appraisal:

Jeweler keeps the stone for 2 weeks to do the appraisal, gives me the written appraisal, then offers to buy the stone for exactly what he appraised it for. When I'm not interested, he offers me more than he appraised it for. I asked for my money back. He didn't give it back.

Fourth experience:

Jewelry store uses an outside appraiser, so I drop the stone off, and pick it up a few days later, pay for the appraisal, "the appraisal will be done in 1 week, and we'll send it in the mail" and 4 months later.... still no word from them. I call once a month, and keep being told: "Oh... yes, it should be mailed tomorrow" It's too late for a chargeback unfortunately, and I have the feeling a refund for services NOT rendered would be "in the mail next week" too.

I give up

Oh gosh. I'm sorry. If this weren't true, it would be funny.

Offline BigRed

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Re: Reasons to go with someone you trust!
« Reply #12 on: November 03, 2008, 12:10:25 PM »
I swear hearing stories like that make you really appreciate David! I'm sorry you have been having such a rough time.  :(
DBL's One and only Rose Gold Queen!!!!!

Offline newhope

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Re: Reasons to go with someone you trust!
« Reply #13 on: November 03, 2008, 01:01:38 PM »

Oh gosh. I'm sorry. If this weren't true, it would be funny.

Eh, it's okay... it is kinda funny, really :)

The one bit of good news about the 4th place is that they were having a special on appraisals, so at least I'm out 1/3 of what I would be if I'd paid regular price... I've always wondered if they were just bitter about giving me a good deal on a difficult appraisal (maybe one that their guy charged them more for) and have been passive aggressive. It's bad business, but sometimes human nature overrides...

I've also had my revenge on most of the local places... I know a lot of young couples, and get asked at least once a month where a good place is to buy engagement rings, I always send them to places other than those 4 shops. (I've got good friends in the local jewelry business, all of whom are honest enough to admit they aren't qualified to appraise a colored diamond) I've even sent a few couples to DBL depending on what they were looking for.

Offline marjolein0721

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Re: Reasons to go with someone you trust!
« Reply #14 on: January 27, 2010, 04:20:02 PM »
Would you rather have a new girlfriend?  LOL just kidding...my husband wouldn't find that too funny...the diamond is beautiful!!!!!!!!!