Some may be surprised to learn that the origin of a gemstone is as important as its color. And the chain of paperwork determining its origin may not have been available years ago. So jewelry appraisers today are facing significant challenges as many items arrive without any documentation or certificates to aid in establishing the current replacement value.
Similar problems are surfacing with jewelry items that were reported stolen and the insurance values the customer has are from 20 years ago.
Leibish Polnauer, President & Founder of Leibish diamonds said, Let me illustrate with a story of a personal encounter I had on this very topic. A well-known builder came to my office, showing me a 4 carat white diamond ring and asked me to estimate its value.
He acquired the ring from a client who could not pay his bill for the work the builder had done in constructing his house. Now mind you, the builder was very proud that he got a bargain with this diamond as payment for an invoice which otherwise would have gone unpaid.
Unfortunately I saw right away that was a fake stone, so I wanted to refrain from valuing it and thus conveying the bad news. But he simply would not let go. He was convinced that he got the deal of a lifetime. So I asked him what was the amount of his invoice the client needed to pay? $50K US, he said proudly, and “how much you think the ring is worth? My man said it is worth at least $80K US.”
I saw no way out, so I asked him to sit down, and I told him the truth. “It’s a synthetic diamond that is not worth even 500 dollars.”
All operators are looking for fresh goods with strong colors. The fancy color market is suddenly facing a bright spring and demand is outpacing the supply. It’s much like falling on love, and the spring of 2024 is a perfect time to fall in love with color diamonds.
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