Sell Jewelry Boca Raton
At a Canadian auction a 30 carat yellow diamond sold for only $500,000. I say only because the pre-sale estimate for the stone was over $2 million. One of the biggest reasons it failed to fetch the estimate is due to the fact that the stone is not graded. Generally fancy colored stones or larger stones are sent to a grading company like GIA to get an official grade. The slightest difference in grade can change the value hundreds of thousands of dollars, especially in a stone this size. Because it didn’t have a grade it was bid on by mostly diamond dealers who can guess their own estimate of what the diamond is. But until the stone is graded it is all just a guess. It is always best to get a GIA certificate for your diamond if you want to sell jewelry Boca Raton.
“It’s an uncertified stone, it was never sent to the GIA, and only a diamond dealer would be able to evaluate it. That kind of takes the public out of the bidding,” said Kashif Khan, managing director at Ritchie’s, the Toronto-based auction house where the diamond was sold. He also went on to say that most stones are graded by GIA or AGL. Just the mere fact of having paperwork to go along with a stone increases its value. This 30 carat yellow diamond came from an old collection and had no paperwork. The valuation was based on “what your eyes see”.
“The seller had it for many years and they were confident in what it was and what they paid for it,” he said. “(Ritchie’s) isn’t a retailer, so we don’t get lots retail-ready, we sell them as is. So the way it comes is the way it goes, and it’s up to the buyers and their confidence in the diamond.”
It’s almost unheard of for a stone of this size not to be sold with a certificate. Stones half this size have sold for some very impressive prices. For example “The Winston Blue,” a 13.22-carat fancy vivid blue diamond sold for $23.8 million at Christie’s in May. An oval-cut, VVS1 5.05-carat fancy vivid pink diamond sold for $9.6 million also at Christie’s earlier this month, and a 100.09-carat fancy vivid yellow diamond garnered $16.3 million at Sotheby’s in May.
It is possible that the diamond just isn’t that nice and the seller didn’t want to disclose anything negative. But in past experience diamonds with GIA certificates always fetch more money than those without.
by, Seth Marcus at Boca Raton Pawn
Related articles
