Diamond found on ground... now what?

March 2, 2008 10:32 PM

Diamond found on ground... now what? Q1: How long should I wait for someone to claim? Q2: What steps should one go through when selling a gemstone? Any advice?

My friend (yes yes, I assure you, it was my friend and not me), found a sizable diamond on the ground (>.75 carat). It looks nice, and we're pretty sure it's a diamond based on some simple tests. We reported it to a few nearby places to where she lives, but no bites yet.

Question 1: How long should she wait?

Now, supposing it remains unclaimed for a few months (my suggestion)...

Our current plan is to get it appraised, to #1, see if it's real, #2, see if there is some laser engraving or otherwise, and #3, see what grade/color/cut classes it falls under.

Question 2: What steps should one go through when selling a gemstone? Any advice?

This could include... are there any pitfalls to watch out for? Any preferred methods? I've heard consignment is an option... but I don't know the logistics of it all (perhaps it's different based on the jeweler? or is there consistency in consignment practices?). Is online selling with a GIA certificate worth it (and is the GIA certificate worth it?)?

If it helps, I'm in Georgia here in the US.

posted by djpyk to clothing, beauty, & fashion (8 comments total)

what are the tests you did? Cubic Zirconia cuts glass, for example.
posted by delmoi at 10:43 PM on March 2, 2008

I checked the reflections--it reflects a mostly grey/black/white spectrum.
I also checked it over some printed material--it doesn't seem to show through.
I also put an LED on one side and checked if any light leaked through--it appeared as a halo sort of, but definitely does not leak directly through.

In short, most of the things listed here/a>, but not requiring special equipment or the ones not relevant such as the mounting of the diamond.
posted by djpyk at 10:50 PM on March 2, 2008

Diamonds are non wettable a good test is to put a drop of water on the table or top facet, the drop should be a tall heap shape as opposed to a low dome shape.
posted by hortense at 11:23 PM on March 2, 2008 [1 favorite has favorites]

This thread triggers two diamond factoids in my head, both of which probably originally came somewhere from Metafilter.
1. Do not advertise the lost diamond in the newspaper or else you will get crazy old ladies calling you claiming it is theirs.
2. Diamond resale value is low. If you look at retail prices for a stone comparable to the one you have, you might be able to actually sell it for a quarter of that price. (just keep your expectations reasonable.)
posted by PercussivePaul at 11:46 PM on March 2, 2008

Report it to the police. If no one claims it within X amount of days, you can keep it. Otherwise, it's technically theft.
posted by electroboy at 6:39 AM on March 3, 2008

Yeah... I think you've got to go to the police here.
posted by Jahaza at 8:21 AM on March 3, 2008

Previous AskMe.

My advice would stay the same as in the previous question and yeah, like PercussivePaul mentions, you'll talk to a lot of desperate people if you post it up in the Lost & Found.
posted by jamaro at 8:45 AM on March 3, 2008

1. I say it's yours to keep.
2. Go to as many jewelers as you can to get it appraised.
posted by PowerCat at 10:39 AM on March 3, 2008