We have this wonderful stone, valuated in USD 13,000,000 according to its identification report from 2003. We are trying to update the price to our current time. Unfortunately, it was not possible to locate the expert gemmolist who issued the document. We also tried our luck with the gem price guide but we cannot trust that.
Does anybody know how to estimate the current price of this stone without having to take it to a specialised laboratory? Ideally, someone knowledgeable could use the quality information on the report and provide an estimation of the present price.
With a stone like this, at this size and value, you need to get a new appraisal from GIA or a comparable lab. They are the best and are viewed as authoritative. This may cost a little money, but an inaccurate appraisal would cost you money, too. anyone who buys at this level will want a GIA report and will probably want another appraisal of their own.
Are you kidding about this? Anyone with a $13M sapphire ought to know thisâŚ
No kidding, unfortunately. I totally get what you said, which should be the natural procedure. The owner is an old man, unwilling to pay USD$35K to open the safe to get a new appraisal until an interested buyer comes to see the stone. Of course, potential buyers are asking for an updated appraisal.
We think that a sapphire expert should be able to estimate the current price with the stoneâs quality properties and its certificate of origin. Of course, assumming these properties have remained unchanged since 2003. We are then looking for that expert.
It doesnât make any sense to me that it would cost $35K âto open the safe.â If all you want is basically a pro-rated value, you could use the IGS value charts yourself, or you could buy a copy of the Drucker publication, âThe Guide.â or you could buy a $30 subscription to gemval.com, which has graphed gem prices by species since about 2005. It is basically a look up task. Your potential buyer could do the same. The problem I see is that you are asking someone to come see a stone with very little assurance that it actually is worth what you say it is worth. You Gem ID report doesnât look like it is from a premium lab, so there are questions before you start. A person or corporation with $13M+ to buy a large sapphire is not going to want to get on a plane to come see a stone which may be a complete bust. So I stand by what I said about needing a new appraisal from GIA or someone else who qualifies as a supreme authority.
I think you may know that phrase âyou have to spend money to make money.â That is probably the case here. If the stone is truly worth millions, then $35K to open the safe and a few thousand to have a good appraisal is just the cost of doing business and is less than a 5% commission. I would ask around for someone who acts as an agent to sell this type of stone and see what they advise.Try some of the big names in jewlery and see what they say.
Iâm a bit worried about the I2 designation, as that doesnât tell me what areas are clean and what are included. Without knowing that, I canât credit the report or the valuation much.
Same thoughts here. First, why would anyone in possession of such a stone even hesitate to have it certified by GIA, GĂźbelin or any other authoritative lab. Itâs fishy that youâd have such a piece and yet wouldnât want to show it to a true professional. As for the âcertificateâ it already has - I can do one like that as well on my computer.
Second, itâs ridiculous that âopening a safeâ would cost 35k. Whereâs that safe? In a secret underwater fortress youâll only get to with the help of specially trained dolphins? On the moon? That would at least be in line with its pricingâŚ
