Hi, so I managed to get very lucky and purchased a 6ct crystal fire opal from Ethiopia which refracts light in the form of flashes of firey hearts and stars. Especially when I polished it a little more and gave it a bullet shape rather than the original rectangle, the hearts became more defined and vivid. I’ve since then custom ordered a 14k setting perfectly fit for it as well as a 14k chain. Any idea on its value and where I can pursue an appraisal? Thanks
Having started my 50 year career in gems as an opal cutter in 1970, I have been stunned by the huge volume and overall quality and value of Ethiopian opals. You can find hundreds of examples quite similar to yours in Bangkok’s gem district for retail selection prices of from $20-$40 per carat. Also compare with auction prices.https://www.gemrockauctions.com/auctions/1175ct-ethiopian-welo-opal-lot-d127-973314
I understand you can find those prices in BANGKOK, but In California wouldn’t an opal like this set in 14k gold on a 14k chain carry a value more in the area of $1500-2500?
On the low end I would think…
So I have a pear shaped Ethiopian opal 24mm x 12mm
6.9 cts $1150
I haven’t bought gold in a couple of years but since it is at $1850/oz
I would charge $3000 for your work.
Really? Any chance of a pic or two of the back of it?
From the little of the gold I can see, it looks designed for an oval stone, and not specifically for your stone.
Thank you, I agree fully. It’s that beautiful and rare of an opal that it should be in the $3,000 ballpark… The market in the middle east is that cheap only because of slave labor and other unethical sources…
I suppose if you are that much of a perfectionist, then no, it wasn’t cast specifically for my opal… But the dementions are correct
No, I’m not really a perfectionist, I was just wondering what stopped the stone from slipping up and falling out of the setting.
Oh, I see, well the 4 prongs that extend from the setting are an excellent length, so I simply placed the opal in the proper placement of the setting, and gently closed the prongs over the opal. it’s actually very snug, but not too tight to cause blemishes…
If it hadn’t been set, I’d have suggested that you hit it with cerium oxide a bit more. The surface looks a little rough, altho that may be dirt or finger prints.
Getting an appraisal on only a local market is tricky unless you have a buyer. An insurance appraisal would be for replacement value and so would consider getting the material from the open market where you’d be looking at the $20-40 a ct that jbergman pointed out. Can’t tell chain size, but finding at Tripps would be 100-200 and chain a couple hundred more. So, top end 250+200+200 = $650. A finished piece is likely twice that, brings you to about $1500.
That being said, you get for it what a buyer is prepared to pay.
Thanks for the info, so for selling purposes, an appraisal is not really necessary.
I am slowly starting up a company ( slowed lately because shippit.com seems to have lost my package ) but my business model is that everything, or at least the greater majority, will be valued. Im using independent professionally qualified valuers.
Here in Australia the two main certified folks have the letters NCJV (national council of jewellery valuers, and AAJV (Australian Ass. of jewllery valuers. Yet legally I could value it for you lol and Im a noob…basically there are no laws covering valuations as far as I am aware. Valuations are opinions of who ever does it.
Replacement/insurance value is what you want. General rule of thumb for me is that an insurance valued item is about 25% over sale value.
Hope my opinion is of some value lol. I like the piece though