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 Post subject: Good Deal?
PostPosted: Sat Nov 26, 2005 1:20 am 
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I am new to gemology, is the appraisal below valid or inflated?



One stamped 14 KT , approximately 11 gr gold ring contaning:

One bezel set oval shaped natural Blue Sapphire guaging 9.90x 7.60x 6.00mm, exact weght 3.75ct. Clarity is VS, Type II, medium strong blue,
to slightly violetish blue, cut is excellent.

Fifty-eight pave' set, Thirty channel set, and eighteen modified bezel set round brilliant cut diamonds, measuremens of 1.85-1.40mm, approximate weight of 106 stones= 1.80ct

Clarity VS-SI
Color G-H
Cut very good Class 1b to Good class 2a

total weight of colored stone 3.75ct
total weight of diamonds 1.80ct

Aprroximate replacement value $87,760

CobraTix


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PostPosted: Sat Nov 26, 2005 1:26 am 
Hi CobraTix,

Welcome to our forum!

My first impression is that unless that sapphire is a genuine Kashmir, that is a highly exaggerated replacement value.

But I could be all wet here, so I will look forward to other replies. :D

What is their actual selling price?


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PostPosted: Sat Nov 26, 2005 2:00 am 
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First, I'm not an appraiser, so this is nothing but my personal opinion.

It doesn't mention if the sapphire, has been heated / treated in any way, which makes a huge difference to the value of the stone.

Even if it is untreated in any way, it still sounds to me that the appraisal is vastly inflated unless there is some sort of history attached to the piece.

The price would put the sapphire at around $23,000 a carat!

A few examples of unheated / untreated sapphires:

3.33 carats from Ceylon at +/- $4,000 a carat retail

Unheated Burmese sapphire 3.32 carat @ +/- $3,500 a carat

Unheated 38.71 carat Burmese sapphire estimated at $20,000 to $30,000 a carat Note that a sapphire like this one is rare, hence the price per carat.


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PostPosted: Sat Nov 26, 2005 8:58 am 
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Valid for what?

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PostPosted: Sat Nov 26, 2005 11:16 am 
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( i'd love a chance to replace it for that $ ! would throw in a matching pendant to boot. )

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 Post subject: Thanks
PostPosted: Sat Nov 26, 2005 11:44 am 
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Helo, and thanks for your feedback. I saw this ring to be sold on an auction this week, its a beautiful ring, but I thought their appraisal sounded a bit to high, but I wasn't sure.

Best Regards,
CobraTix


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PostPosted: Sat Nov 26, 2005 11:47 am 
Was the selling price the same as the appraisal replacement value?

Can you post a link to the ring in question?


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PostPosted: Sat Nov 26, 2005 12:16 pm 
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Ux4 wrote:
( i'd love a chance to replace it for that $ ! would throw in a matching pendant to boot. )


Ux4,

You're a gentleman and a scholar. I was thinking a matching tiara might even be in order.

Cobratix,

Can you post a link to the advertisement for the auction?

Neil

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 Post subject: Auction link
PostPosted: Sat Nov 26, 2005 2:28 pm 
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No the bid price does not start at the appraisal value. The starting bid varies, some at $100, $500, $1000 ect. Its on a TV show I found last night on DirectTV, Channel #238, (but may be moving to channel 341 soon). Its called "GemsmithTV" they say they make their own jewelry and do not use synthetics. The bidding is by phone only. They have a website, http://www.gemsmiths.tv the auction is not online, but you can preview the jewelry and their appraisal certificate, here's a link to the ring in question.
http://www.gemsmiths.tv/preview/viewapp ... name=4.jpg

CobraTix


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PostPosted: Sat Nov 26, 2005 2:40 pm 
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I agree with most of the comments. Speaking as a professional, I would have to say that the appraisal simply does not provide enough information to say much of anything definitive. As noted above, country of origin, treatment or lack thereof are the most important factors that would be necessary and should appear on a professional appraisal document.

Also, there is no real indication of the quality of the stone. I have been at this for 28 years and would not, never, consider purchasing a piece with the information provided. In fact, I would never purchase anything without seeing it first, without an absolute drop dead no BS return with 100% money back guarantee.

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PostPosted: Sat Nov 26, 2005 2:43 pm 
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Hi CobraTix,

This is worth atleast an raising of the eybrow worthy.
When I did some fast calculations in my head I would have not gone over about 1/8 of that price (tops and a very wishfull thinking appraisal).
But ofcourse that is dangerous from a picture.

Then I looked at previous items they had for auction. They sell them now for about a 1/10 of the appraisal value.

QED


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PostPosted: Sat Nov 26, 2005 3:24 pm 
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Except the 7.35 carat tanzy at $17K :shock:

That's somewhere around 3 times the going price.

CobraTix, if you do decide to bid on it, I suggest that you take a look at this site which sells unheated untreated sapphire from Ceylon to give yourself an idea of the prices elsewhere. The others might have some good websites for you to check out too.

It's an unfortunate fact that far too often "appraisals" like the one that you have asked about are used as a selling tool to convince the buyer that they are getting an amazing deal rather than reflecting reality.


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PostPosted: Sat Nov 26, 2005 4:27 pm 
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africanuck wrote:
It's an unfortunate fact that far too often "appraisals" like the one that you have asked about are used as a selling tool to convince the buyer that they are getting an amazing deal rather than reflecting reality.


Hi Africanuck,
Thank you, and to all replies, for your feedback. You have confirmed my suspicions that something was wrong. At first it looked like a great deal, if I could buy it cheap. But I noticed the information was incomplete, and as quoted above, I knew that some people use overinflated appraisal certificates to give people a false confidence in what they are selling. I fell victim to that trap last spring, (part of my motivation for starting a gemology course a few weeks ago). I did not bid on this ring, and now I am sure I do not want to. I was suspicious and I wanted to get an expert opinion before I bid, I am glad I did, thank you all.

CobraTix


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PostPosted: Sun Nov 27, 2005 12:59 am 
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Quote:
I fell victim to that trap last spring, (part of my motivation for starting a gemology course a few weeks ago)


You might be interested in our gemmology chats too then. Oh, and did I say "Welcome to the forum" yet? :D


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PostPosted: Sun Nov 27, 2005 11:05 pm 
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Hi CobraTix, taking their own valuation aside, it may still be a bargain and worth bidding on. The key here is not to bid based on their valuation, but on a valuation of what you would reasonably expect for such a piece retail.

Because some pertinent information, such as treating and origin are missing, I would only bid on the basis of assuming lowest retail value to mitigate risk, such as assuming it treated.

It does sound like they are encouraging bids based on an inflated replacement value, and unfortunately this is common place on the internet. However, if bidding stays low, it could still be a bargain. As Richard wisely suggests, a guarantee or no quibble 100% refund policy would be a must.

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