I'm hoping someone might have done an appraisal close to the one I'm trying to do now that might be able to help with some pricing on a Synthetic Diamond.
I am trying to find a price for a synthetic diamond that will match as close to these numbers as possible:
2.22 ct Oval shape Excellent Cut VVS-2 I colour
If you have the appraisal information for something like this or any lab grown diamond around January 2021 then I would appreciate if you would let me know. I checked through Mr. Drucker's price guide and the latest they have their lab grown diamonds going to is September / October of 2021 which is the closest I've got so far but the price range is a large gap (over $1500 / ct between top and bottom prices) for 1.5 - 2.0 which is a little too broad for my personal taste.
Has anyone appraised a lab diamond around that time or know where I might find the information for a price around then? I've sent out a few emails to some of the lab diamond suppliers I know to see if they might have an old price list hanging around or something from that time but I figured I'd try my luck here as well to see if anyone has had to price one of these.
Thanks in advance to anyone that has information on this.
Post subject: Re: Request for historical pricing on Lab Grown
Posted: Mon Feb 06, 2023 7:29 pm
Gold Member
Joined: Thu May 12, 2016 2:18 am Posts: 1542
I do not do appraisals but I can say that in 2021 the wholesale (Dealer to Retailer) market for Lab Grown diamonds of that size and quality range was about a 75% discount from what the Rappaport list price was at that time. You should be able to calculate the appraisal price by adding the appropriate mark up for the market you are addressing in the appraisal.
Today the market has fallen greatly from there. I am able to buy or memo larger stones for a 97% discount from Rappaport Very high qualities even more of a discount. Smaller stones around and lower qualities around a 93% discount.
Post subject: Re: Request for historical pricing on Lab Grown
Posted: Sat Feb 11, 2023 2:41 pm
Site Admin
Joined: Sun Oct 16, 2005 12:22 pm Posts: 21602 Location: San Francisco
Pricing of lab grown varies considerably depending on the market you are basing replacement within. The first thing one needs to do is clearly define the market for replacement.
If the stone needed replacement, where would your client go for replacement? Original store where it was purchased? Let insurance handle it? If they would go back to where it was purchased, replacement value would simply include a search on their site or a phone call.
I was able to find pricing for today (as was mentioned) around the 93 - 96% off RAP but I was hoping for information from before as well as the pricing difference for a 2.22 ct diamond at 75% off and 95% off is a reasonably large number. The appraisal I was doing had been appraised at around $15,000 back in 2021 but after doing the research and checking into the diamond prices from various websites today I was getting less than $10,000 so I was hoping to provide an explanation to the client in case they asked why the large price drop.
I had sent out a few other requests to some friends and contacts to see if I could get anything and the pricing all came back around the same 75% off so thank you again.
I appreciate the insight and help I always get from this community.
Post subject: Re: Request for historical pricing on Lab Grown
Posted: Mon Feb 13, 2023 12:18 pm
Valued Contributor
Joined: Fri Jun 25, 2010 12:04 am Posts: 257 Location: Idaho
We have had several pieces come in for updated appraisals, sold 3-5 years ago. Consistently 30 - 50 % less than the original value. We warned them at the time of purchase that values were going down.
India is getting involved in an even bigger way, from growing on. Expect prices to keep going down..... Primary value may end up in the cutting labor, plus distributor markup - but DeBeers, Ritani and others will probably nix the latter... Just hope they keep up the excellent cut quality we have seen in most goods from our suppliers.
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That's what I had been telling people as well. I don't know how much less expensive we can get but we're going to the same point as other lab material where it's basically just the cost of the stone / labour and a very tiny markup.
Post subject: Re: Request for historical pricing on Lab Grown
Posted: Tue Feb 14, 2023 12:36 am
Site Admin
Joined: Sun Oct 16, 2005 12:22 pm Posts: 21602 Location: San Francisco
I always tell my clients the price of lab grown will only go down. The more popular the stones become, the more they will be manufactured and the only consumer incentive will be price point, e.g., undercutting the competition.
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