-58-
the $52,300 value and the fact that the 3.04-ct. diamond was 9.3
percent smaller than the 3.35-ct. diamond ((3.35 - 3.04)/3.35 =
.093), we find that the fair market value of the 3.04-ct. diamond
was $47,436 ($52,300 - ($52,300 x .093)).
Carmona opined that the fair market value of the 7.74-ct.
diamond was $35,800. We decide that the 7.74-ct. diamond was the
best measure of value for the 7.75-ct. diamond. On the basis of
the $35,800 value and the fact that the 7.74-ct. diamond was for
practical purposes the same weight as the 7.75-ct. diamond, we
find that the fair market value of the 7.75-ct. diamond was
$35,800.
Lastly, we turn to the auction prices to find the value of
the remaining diamond. A faint blue 4.32-ct. diamond sold at
auction for $105,000. Whereas the 4.32 ct. diamond actually sold
at auction for more than its $97,000 value as appraised by
Carmona, we do not consider Carmona’s appraised value to be the
best measure of value for the faint blue 4.39 ct. diamond.38 On
the basis of the price at which the 4.32 ct. diamond sold at
auction and taking into account the fact that the 4.39-ct.
diamond was 1.6 percent larger than the 4.32-ct. diamond
((4.39 - 4.32)/4.32 = .016), we decide that the fair market value
of the 4.39-ct. diamond was no less than $106,680 ($105,000 +
38 We note that Carmona had stated in his report that his
valuations were not under ideal conditions.
Page: Previous 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 NextLast modified: May 25, 2011