"Bicycle Chain" Appraisal...$30,000

cjc

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Jan 23, 2006
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"One Marked 14K yellow gent's custom make chain 31" long, solid fancy link set with diamonds with a fancy lobster clasp. Condition: used. Containing: 120 barrel set round brilliant diamonds gauging 2.60 x 2.45 x 1.57 mm (depth est.) approximate total weight 120 x 0.060 = 7.20 ct."
Clarity; s1 to 1
Colour: G1
Cut: Medium - Class 2
Total Weight of Diamonds: 7.20 ct.
Total Weight of Chain: 158 gr.
Estimated Replacement Value $ 30,000 CDN

Ya, we take 'em....
cjc
 

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??????????????? :?: :?: :?: Thats crazy!!!
 
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Congrats Clive... so you gonna wear it when you come down here to waterhunt? ;)
 
That's amazing! There may be a reward for it. Congrats.

Obviously whomever wore that had a TON of disposable income and I doubt they would want the embarrassment of saying that they lost it. I'd wager they just went out and purchased another one.
 
That is an insurance appraisal. That's not what the market will bring if it is sold.

Right. Much as I hate raining on somebody's parade, a few things have to be kept in perspective.

First off is that "158 gr" notation. That's a SERIOUS misprint since "gr" stands for "grains" which would make the necklace just under 1/3 ozt - which is ridiculous just from looking at the picture.

It should say "158 g" which is almost exactly 5 ozt. With gold pushing $1700/ozt, that makes 14K about $1000/ozt, so the melt on that necklace would be about $5000 (or about $300 if it were 158 gr) minus the transaction fee.

The 120 6 point diamonds add nothing to the intrinsic value since nobody will buy them as scrap - although they add aesthetic value to the piece itself, so selling it as jewelry would net more than 5 grand.

Also, most insurance appraisals ring in at around twice market value, so even if you arbitrarily assigned another grand for the diamonds, the appraisal ought to be around $12,000 tops. Maybe this appraiser plays the stock market and he's mixing in a little metals futures with his appraisal business... :lol:

In any event, that appraisal makes your necklace worth FAR more "missing" than "melting"! :lol:

BTW, no matter how many holes I punch in that appraisal, the bottom line is that you've got 5 grand laying on your desktop there, and I DON'T!! :lol:
 
I am pretty sure he means Gram and not Grain... :D
 
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