How long is ring appraisal valid?

[james88]

Looking at a 1 ct platinum ring that was appraised in 2009 at $6k. Is this still a valid appraisal? Is it worth having it taken in again before purchasing?

Thanks for any help.

 

[james88]

I should mention that it was appraised by a GIA Graduate Gemologist.

 

[slg47]

I saw your other thread...personally I would not be comfortable buying without a GIA or AGS report-it is a good way to make sure you don't overpay! If you post your budget we can find some candidates.

Also, one issue with buying this princess is that you have no idea what the cut quality is...and that is what determines how sparkly the diamond will be!

 

[james88]

True, I don't know what the cut quality is, but I saw it in person and that thing really did shine. I do agree with most of these viewpoints though about not buying a ring without a GIA report. Is there any way to have the stone removed from the setting and graded by GIA?

 

[slg47]

True, I don't know what the cut quality is, but I saw it in person and that thing really did shine. I do agree with most of these viewpoints though about not buying a ring without a GIA report. Is there any way to have the stone removed from the setting and graded by GIA?

yes, this can definitely be done. if you are interested I would make the sale contingent on GIA grading. Or you can send it to AGS since they will grade the cut.

what is the asking price? have you compared with online stones?

this video shows the difference cut quality can make...
http://vimeo.com/2050679

 

[james88]

The asking price is $5k for a 1ct princess with about 1ct of baguetts, platinum. It seems cheap but I'm told it was on sale. Plus it's graded I1 which might have something to do with it. That said, I did see it in person and visually it is something I am happy with. I'm meaning to call the store and figure out the return policy/see if they can get a GIA cert. They diamond ways apparently weighed loose by the appraiser, so I see no reason why it couldn't be removed for a GIA grading. I'm skeptical that they'd pay the $300 to have it shipped/certified but it would certainly give me peace of mind.

 

[slg47]

oh my gosh-please do not buy this ring! you are really overpaying!

for the same price you can get a GIA H/VS2 with a return policy and images!!!

examples
http://www.jamesallen.com/diamonds/H-VS2-Good-Cut-Princess-Diamond-1373726.asp
http://www.jamesallen.com/diamonds/H-VS1-Good-Cut-Princess-Diamond-1390837.asp

http://www.jamesallen.com/engagement-rings/settings-with-sidestones/-18k-White-Gold-Tapered-Baguette-Diamond-Engagement-Ring.html

 

[elliemay]

I should mention that it was appraised by a GIA Graduate Gemologist.

Like I said in your other thread -- this is no guarantee that the appraisal you have will be reliable. That GIA grad works for the appraisal company, not for GIA, and you have no way of knowing what the relationship is between that appraisal company and the person selling the ring. That's why it's really important that you take the ring to an appraiser of your choice (or GIA/AGS).

An appraisal by a GIA grad is not necessarily equivalent to a grading by GIA.

I'm not an expert on princess cuts (or diamonds in general, actually!), but 5k does sound like too much to pay for an I1.

 

[diamondseeker2006]

Please don't buy an uncertified I1, and especially if this is for an engagement ring.

 

[denverappraiser]

There are three important sub-components to answer your question.

#1 Was it 'valid' in the first place? I won't venture to guess but there are a ton of GIA graduate gemologists out there. Some are decidely more skilled than others; some are better equipped; and some have alternative agendas that may not be in your best interest. If you weren't the client, be very nervous to rely on an appraisal for shopping purposes. An 'appraisal' by a GIA graduate is not the same as grading by the GIA Gem Trade Laboratory and a GIA-GG is NOT an appraisal credential by the way. GIA is a college and lots of us went there (including me) but this does not make all graduates equal any more than it makes all graduates from any other college equal.

#2 What has happened to the piece since it was inspected? Obviously any modifications and/or damage since the inspection will not be noted.

#3 Is it answering the right question(s)? Most appraisals are estimating the maximum price for what it would cost to custom make a new item like it if it needs to be replaced. This may not be what you want to know. Usually buyers are interested in what it is and what is a 'fair' price for the item as it is and in the most appropriate market. These are not the same thing and there is not a conversion formula that can reasonably applied. Appraisals are limited in scope to the requirements of the client in order to keep costs down and often this omits important information for shoppers (like cut information as mentioned above).

 

[Amys Bling]

Please don't buy an uncertified I1, and especially if this is for an engagement ring.

big ditto.