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GCAL Appraises Diamond That Sold For a Record $2.5 Million Online November 10, 2022 (0 comments)
New York, NY--Considered to be the highest priced online sale ever of a single diamond, a 21-carat, flawless, D Color, “Excellent” Round Brilliant diamond sold for $2.5 million. And the buyer believes he got a bargain.
The purchase was announced in The New York Post on November 8. The diamond ring was purchased from online seller Rare Carat. According to sources, the previous record was $2.1 million set at an auction at Christies in 2020.
The diamond was appraised by Master Gemologist Appraiser, Don Palmieri, founder and president of GCAL (Gem Certification & Assurance Lab).
Palmieri examined the stone twice: before it was placed in its platinum setting, and again after it was set for a final inspection. He appraised the diamond ring at $2.6 million for insurance purposes, but said: “I believe it might have sold for nearly $1 million more at a high-end jeweler. This is an enormous sale that would normally take place in person.” The diamond went thru extensive testing at a number of stations at the GCAL lab in Manhattan in early October.
The buyer and his bride-to-be were on vacation in Montana, when the ring arrived at their hotel. The ring was hand-delivered by an armed security guard, who arrived in an unmarked car. The purchaser then proposed, and to no one’s surprise, she said “yes."
For the complete story: Diamond fetches record $2.5M in online sale -- and buyer says he got a bargain