Quote based on EGL cert

[GRISH]

I have this diamond on hold and was extremely excited about it until i talked to another jeweler about certs. I was unaware of the differences in EGL and GIA. I would appreciate any advice at this point because I don't want to overpay. The asking price is $28,000 and this is from someone that I have done lots of business with but not a personal friend.

 

[Rockdiamond]

HI Grish,
A legitimately graded H/SI2 4ct diamond is going to cost, at a minimum, maybe another $7k- but remember, all Si2 diamonds are not created equal- so you could also have to pay well over $60K for an eye clean XXX ( well cut) 4 ct H/SI2 with a GIA report.

The price, in this case tells a huge story. Maybe the stone is a K/I1 and worth the price- who knows. Most likely, the diamond would sell for less if it was accurately graded.
Whoever is selling the misgraded diamond understands these aspects.
If the seller is not telling you a straight story, that's a red flag in my eyes.

 

[Texas Leaguer]

I have this diamond on hold and was extremely excited about it until i talked to another jeweler about certs. I was unaware of the differences in EGL and GIA. I would appreciate any advice at this point because I don't want to overpay. The asking price is $28,000 and this is from someone that I have done lots of business with but not a personal friend.

If you have done lots of business with this vendor he should be willing to make the sale contingent upon the grading being verified by GIA. There is a one grade potential difference even among top tier labs. If it drops to I color not a big deal. But if it drops to I1 in clarity you will have liquidity problems in the future if you want to sell it.

EGL graded diamonds have recently been delisted from the biggest international trading platform because of inaccurate grading. The other jeweler you talked to was telling you something of value.