-57-
We do not find in the record that Mamiye sold a diamond that
was comparable to one or more of the five remaining diamonds. As
to these five diamonds, we turn to Carmona’s opinion as set forth
in his expert report. If a diamond that was valued by Carmona
was similar in weight to one of the five remaining diamonds, we
use that comparable diamond to measure the fair market value of
the diamond in question, unless the record establishes that
Carmona’s appraised value was not indicative of the diamond’s
retail sales price. Under the facts herein, we believe that
Carmona’s opinion is the second best measure of the fair market
value of four of the five remaining diamonds.
Carmona opined that the fair market value of the 2.01-ct.
diamond was $15,000. We decide that the 2.01-ct. diamond was the
best measure of value for the 2.08 and 2.28-ct. diamonds. On the
basis of Carmona’s appraisal of the 2.01-ct. diamond at $15,000,
and the fact that the 2.01 diamond is 3.4 and 13.4 percent
smaller in weight than the 2.08-ct. and 2.28-ct. diamonds,
respectively ((2.08 - 2.01)/2.01 = .034; (2.28 - 2.01)/2.28 =
.134), we find that the fair market values of the 2.08 and
2.28-ct. diamonds were $15,510 ($15,000 + ($15,000 x .034) and
$17,010 ($15,000 + ($15,000 x .134)) respectively.
Carmona opined that the fair market value of the 3.35-ct.
diamond was $52,300. We decide that the 3.35-ct. diamond was the
best measure of value for the 3.04-ct. diamond. On the basis of
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