Diamonds-Engagement Rings
Locating Estate Diamonds
Proceed with caution!
Classified ads are often a first considered source for locating diamonds.
Positives:
- You will be dealing with a person who probably really needs the money
- You probably will not have to pay sales tax
Negatives:
- You may be dealing with people who paid full retail
- The seller may be under the impression that their diamond has appreciated significantly over the years
- The gem may not have a certificate or the certificate may not be accurate
- The seller may not be willing to co-operate with your appraiser
- The seller may not have any proof of purchase
- The person may be a scam artist
- The gem may be stolen
- The ad may be bait for a robbery attempt
Pawn Shops can be a much more reliable way to avoid certain logistical problems, but many of these guys are heartless sharks with an attitude. They have already gone through a spirited negotiation in buying the diamond. But they expect to make a tidy profit. Sometimes you can tell a pawnbroker what you are looking for, and if he believes you are serious, they may call you when he knows of something.
You will probably need to take your appraiser to the pawn shop. That can get expensive.
Estate Jewelry Shops may save you some money and they may not. It is usually much easier to go look at diamonds, and a a wider variety of diamonds should be available.
Many estate jewelry sellers troll pawn shops to get their merchandise. That means you are paying 2 markups. Estate jewelers are not necessarily more or less honest than retailer or pawnbrokers.
Referrals could be the best choice .. but they are rare. If friend A knows that friend B is interested in selling a diamond, they may know enough about the diamond so you can know whether or not you are interested without ever seeing it. Plus it will probably be easier to get the diamond to your appraiser.
However, negoting prices among friends can be problematic.
Appraisers see lots of gems and jewely. If you are on good terms with you appraiser he should be able to steer you to some sellers. Assuming, of course, that he is not buying and selling jewelry. He already know the value of the piece. But don't make that an excuse not to pay him an appriasal. Actually, a bonus would be in order.
What's next? Appraising estate diamonds.