Old cut pricing

[Emeraldcutlover]

I know it's very difficult to do a "cost compare analysis" on old cuts, so I'm asking all of you for your expertise/experience. Can you give me an idea of what a GIA 3ct L/SI1 would cost or a EGL 3ct J/Vs2 or a GIA 3 ct I/SI1 or any other examples? (preferably over 3ct's if you know). Also - what is the rule of thumb when looking at a EGL graded stone? Is the color typically 2 shades lower by GIA standards? How about the clarity? Also, do you think any blue fl in old cuts lowers the price or is it a good thing (b/c makes it whiter)? Finally, I have read on here about "retailer" prices vs non-retailers. Which would be considered "non-retailer" prices? I think I am just stumped about the OEC pricing and feeling overwhelmed. Should I just pay the retailer price b/c they will be able to guide a consumer that is not that educated with this cut? I feel like I've done my homework (what I think I can) but I always seem to be wrong with my thoughts of what the pricing may be?? P.S. I've also learned that you cannot compare an OEC price to a Old Cushion one too?? This is exhausting!!! Thank you so much for all of our help. I really appreciate it!

 

[DiamondBrokersofFlorida]

It's almost impossible to give you a price on a Old cut diamond as they are rare and there actually has to be one available in that size range with the lab report. It is also hard to tell you what a EGl grade stone will grade out realistically without seeing it and being trained to grade.
There are various EGL laboratories out there and they all vary quite a bit. I would suggest finding a dealer that can help you find the stone that you are looking for that you are comfortable with.

 

[Rockdiamond]

I agree with DiamondbrokersofFlorida.
When there's less comparable stones on the market, figuring out prices is more difficult.
Plus, it's just more difficult to buy a stone that's less ....regular.
An RBC is pretty easy to "vet"
With an OEC, or OMB, there's far more variables.
Don;t waste any time trying to figure out EGL grading. As DBOF mentioned, if you are not able to grade the diamond yourself, the grades on the EGL report are meaningless.

Any dealer that sells a diamond to a consumer is making a retail sale.
They can call themselves a wholesaler, or a big green dragon. Really matters not how they describe themselves, other than personally I dislike when sellers don't tell the truth..
There are sellers who offer far less service, and lower prices.
How much service you need in particular is up to each of us- but I think that a consumer can really benefit from good, solid guidance from a trustworthy dealer.

 

[ericad]

I agree with everything posted here expect for EGL reports being meaningless. Is EGL comparable to GIA? No - EGL is looser, we all know that. Every lab has different grading criteria, with GIA being the strictest, therefore the best for the consumer. No arguments here.

But with old cuts, EGL is meaningful in that it allows buyers to make apples to apples pricing comparisons across most old cut dealers, because 90% of antique diamonds are EGL certed. It's not ideal for the consumer, but it's the current standard in this niche of the industry (though we're doing our part by now dual certing stones we buy, or, in the case of consignment goods or finished uncerted pieces, by providing an appraisal from Dave Atlas).

It's really impossible to comp EGL stones to GIA stones. Truly. Most of the time, EGL USA is off by 1-2 grades from GIA, per the stones we've dual certed. But once they came back with the same grade as GIA. And once they came back lower on color than GIA. So while 1-2 grades is a general rule of thumb, there's no reliable way to "convert" EGL grades into GIA-equivalent. And, of course, this all assumes EGL USA - it goes completely out the window when you're dealing with the foreign EGL labs!

So, for the sake of pricing comps, EGL is useful in this way. Don't discount an EGL stone just because it's EGL - simply have it independently appraised OR request a GIA report as a condition of the sale, and understand that the GIA report will likely come back 1-2 grades lower on color and also understand that the pricing of the old cut has already taken the softer EGL grade into account.

 

[Rhino]

Good point Erica.

 

[denverappraiser]

You are not relying on EGL, you are relying on the dealer who is asking you to rely on EGL. That may seem trifling but it’s actually quite important. They’ve got the stone, they’ve seen it, and they are the ones who are telling you what it is and isn’t. I would simply refuse to buy from a dealer who doesn’t have more to go by than a report from EGL. If you trust your dealer to grade it straight, who cares what EGL says? At the end, get it graded and appraised by your own chosen expert to confirm what you’ve been told. As Ronald Reagan suggested, trust but verify.

 

[Rockdiamond]

With older cuts, even two GIA graded stones with the same grade may not be comparable due to potential variances- so clearly, from my perspective, I don't see that consumers are "safe" trying to use any EGL grades for comps.

The problem with using EGL for comps is exactly the same one as using EGL to determine a diamond's grade. If we don't know how far off the diamond's grade is, we can not compare one to another.

It always bears repeating that an EGL graded diamond is not "bad" simply due to it's having an EGL report. It's just got a report with meaningless ( to consumer) grades.