Thief apparently reconsidered after learning more about diamond valuation
In what is being hailed as one of the worst diamond heists of all time, a three-carat diamond was stolen from the New Mexico Museum of Natural History & Science only to be returned the next day. The thief opened a display case and took the fingernail-sized diamond on April 9. Considering that a high-quality 3-carat diamond can sell for upwards of $150,000, the thief probably expected to net a tidy sum when reselling the stone. However, what the thief failed to consider is that not all diamonds are created equal. This diamond in particular had three strikes counting against it.
- It was uncut. The cut of a diamond gives it its sparkle and is a major factor in determining the value of a stone.
- It had visible inclusions. Inclusions are undesirable imperfections caused by minerals, cracks, or other flaws within the diamond. This particular stone had quite a bit of orange-yellow mineral inclusions giving it a poor clarity rating.
- It was a scientific specimen, not a gem-quality stone. The diamond was on display in the museum as part of an exhibit that showed how rocks form in the earth. While it has great scientific value and usefulness, it does not have a high cash value. Hence the lax security that allowed the thief to steal it so easily in the first place!
According to the owners of local gem and mineral shops, the diamond made the rounds of local gem and jewelry dealers on April 10 as the thief attempted to determine its value and sell it. Apparently after realizing how little the stone was worth, the thief chose to surrender the diamond to a store for return to the museum. The store in question, which is remaining anonymous at this point, reported their find to the police and museum staff were authorized to go collect the diamond shortly thereafter. As of right now the diamond is safe in a vault at the museum awaiting repair of the display case so it can rejoin the exhibit.
This news story serves to highlight two important points of interest to individuals buying and selling diamond jewelry at pawn shops like Gems & Jewelry Inc.
First of all, it is a very good idea to do your own research into diamond valuation and pricing before buying or selling diamond jewelry. Although our appraisers are honest professionals who will give you an accurate valuation, having a good idea of the quality of your items beforehand will make you a more informed consumer. Remember that a quality diamond needs to have very little color, excellent clarity, and a good cut. Beyond that, the bigger the diamond is in carat weight the more it will be worth.
Secondly, this story serves as a reminder that pawn shops and other resale shops do not under any circumstances traffic in goods known or suspected to be stolen. We ask for ID for all transactions and we report all purchases we make or pawn loans we give to the police.
