Bob Wehle of Wisconsin made a big score vacationing October 14th at the Crater of Diamonds State Park in Murfreesboro, Arkansas. He found a 5.47-carat canary yellow diamond. Visitors to the park can search and keep any stones they find.
The diamond Wehle found is bright yellow and is the second-largest diamond found this year at the park. It has no apparent eye-visible flaws. (The largest stone found this year was a 6.35-carat brown diamond found in September by a Texas couple.)
"At first glance, it makes you think of lemon drop candy," said Tom Stolarz, park superintendent.
Here's something to muddle your brain:
Bill Henderson, assistant park superintendent, said park officials don't estimate values of the stones found by visitors. But he said Wehle's gem was identical in quality to — but larger than — a 4.21-carat flawless canary diamond found in the park in March that was valued by a New York diamond expert at $15,000 to $60,000.
Huh? An expert valued it at $15K to $60K? Huh? Can't an expert, um, expertly get a bit closer to a value?
Whatever.
Still, pretty neat stuff, right?
Also, the Yahoo! article reminds us that the largest diamond ever discovered in the US was also found in Arkansas in 1924. Dubbed the Uncle Sam, it was a white diamond weighing 40.23 carats.
So, um...want to go to Arkansas with me? Now? Please?
Posted by: Jen | October 28, 2006 at 11:14 PM
Oooh. Aaaah. Here's my fantasy question. Say each of us found said stone. In an ideal world, who would we choose to cut it?
BB, your point about so called "expert" valuations is well taken. Perhaps at some point a post about appraisals would be good for the Basic Knowledge category.
Another case in point. A friend found a ring, it went unclaimed, and became her property. A .19 ct. centre diamond, SI, G, cut good. 6 or 8 ( I forget) 2-3 mm blue sapphires around the centre stone. Set in 14k white gold. Very light on the gold weight (band width not much more than 1 mm). A so called expert told her it was worth $5,000 CAD. Not so much.
I sent her to my appraiser, value $1,050. Her first question: how could the first "expert" be so far off?
Posted by: Wendy | October 29, 2006 at 04:43 AM
Good thinking, Wendy.
I think it might be a very good idea to interview an appraiser for an article here. Because your friend's experience is fairly typical, and it exposes the disparity in valuation, perceived value, and so forth between what an individual might think a piece is worth (i.e. "shouldn't sentimentality figure into the price?" well, that'd be nice, but no, it doesn't...) and what an actual appraised value is.
There's a replacement value (insurance appraisal). And that's truly the only one that matters. Regardless of what something is appraised for, one is not likely to be able to sell it for that amount. However, if one gets the piece legitimately appraised and insured for that amount, it can be replaced. Not sentimentally, but approximately in value.
Posted by: Susanna | October 29, 2006 at 05:53 AM
And by the way, YOUR appraiser was the legit appraiser, no doubt.
"Not so much" with the $5000 CAD is right. 14K white? Puhleaaaaaze. The first "appraiser" wanted to sell her something.
Posted by: Susanna | October 29, 2006 at 05:55 AM
Jen, I've often thought of having a Bling Blog field trip to Arkansas. We'd drop in on Lisa. Take her rug rats with us and have them help us.
But I fear I would just get all muddy. You know... you go looking... you will not find.
Posted by: Susanna | October 29, 2006 at 05:56 AM
Bien sur, my appraiser was correct! It's a nice ring. It's not a pricey ring.
An interview with an appraiser would be an excellent idea, if I do say so myself.
(I think we should have a Bling Blog field trip to the soon-to-be-built jewellery edifice in Vegas!)
Posted by: Wendy | October 29, 2006 at 07:06 AM
Dude, you would not get muddy. Crater of Diamonds is a big ol' rock pit.
It is especially brutal in the summer -- no shade! (Or so I've heard; I've never been there.)
I say y'all come in the Spring -- and me and the rug rats will meet you there!
Posted by: Lisa | October 30, 2006 at 07:11 AM
Alright, AK it is. I'll get my hiking boots. :)
Posted by: Jen | October 31, 2006 at 05:50 PM
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Posted by: shenacatro | October 06, 2007 at 12:23 PM
very interesting, but I don't agree with you
Idetrorce
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