Typically, there is a large premium for high-color, high clarity diamond rings, earrings and necklaces that are well made and signed by a famous maker. However, sometimes, a piece is so extraordinary and so high grade that the individual components are worth more than the overall piece.
In the case of these earrings, the total value of the parts may very well outshine the value of the entire piece. It grieves us to destroy beautiful items, especially jewelry – but these earrings simply are not as valuable intact. This set of unsigned earrings from Kwiat in Manhattan has over 50 carats of E-I colored diamonds that are primarily vvs to vs in clarity, with scattered si1. They can be converted to create three different styles (of which two are pictured here), including two high-quality 13mm South Sea pearls.
We bought these from an Orlando socialite for $35,000, and even though there is an appraised value of well over $100,000, finding a buyer for a modest profit has proved difficult. We even consigned it to one of our partners, whose shop is near Rodeo Drive.
Since each center stone is just under 1 carat apiece and GIA-certified, the stones alone can be sold for close to $8,000. The added 48 carats of fine white diamonds can be sold for $600 per carat. The diamond-encrusted South Sea pearl can fetch $3,000 on the market. So you can probably see – if we separate the components, we can sell them easily and make a quick but modest profit.
This isn’t unprecedented. Consider the story about how legendary luxury jeweler Harry Winston got his start. A large necklace was on the market for years in New York, but it was too expensive for any dealer to purchase. Harry Winston bought the necklace – surprising everyone. He further surprised them by promptly taking it apart and selling it for its pieces.
Always buying fine diamonds and fine jewelry.