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2 questions about an engagement ring

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FutureWife

Rough_Rock
Joined
Jun 26, 2003
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2
My fiance recently bought at GIA certified diamond. According to the place he bought it from, it is .73 carats, round brilliant cut, VS2, G color. He paid around $4500.

When we had it appraised, we were told it was three quaters carat, round brilliant cut, VVS2, and F color. Initially the guy said it was $3500. Then he asked US if it was GIA certified, called up a friend of his who does appraisals too, then determined that it was $4995.

So my 2 questions are: 1) How much, if this guy was right in saying it was better clarity and color, should it REALLY be (is $4995 right?) and 2) should I even trust this guy with the appraisal-does it sound like he should have KNOWN it was a GIA cert. diamond????

I am planning to go for another appraisal. The funny thing is, I have gone to him before and he does have a good rep. Please let me know what you think. Thanks!!!
 

Lanee

Brilliant_Rock
Joined
Jan 29, 2003
Messages
534
This sounds so scary. Try to get Old Miner or Rick Sherwoods attention. I think they are both appraisers.
 

DancinGirl

Shiny_Rock
Joined
Feb 23, 2003
Messages
424
Well, I think by the stats you got from a GIA certificate said .73, G, VS2 - then it should be correct. They don't make all that many mistakes. From what I gather - your Stone as graded by GIA is probably fair market of about $3200 - but give the guy some room for some profit - maybe $3500? I am assuming this is without a setting that he paid that much? If it is including a fancy setting, sure that price sounds reasonable for what he paid for it.

I had an .80ct, VS1, I color stone, AGS certified, and it was about $3100 by itself.

I would go by what the cert says - and from what it says - it looks like he paid a lot more for it than I think he should have.

Correct me if I am wrong, experts, but that's my 2 cents on it.

GOOD LUCK!
 

Richard Sherwood

Ideal_Rock
Joined
Sep 25, 2002
Messages
4,924
Hi Future.

First off, it's not uncommon for an appraiser to grade a stone better than GIA does. One color grade and one clarity grade above on a stone which the GIA perhaps graded conservatively is fairly common.

In my opinion, GIA is usually dead-on in their grading, or leans toward the (often very) conservative side. (EGL-USA on the other hand, is often dead-on in their grading, or leans toward the liberal side.)

If you've got a stone that was very conservatively graded, then you might find appraisers grading it higher than GIA. That sounds like the case with your stone. If GIA graded it as a G/VS2, and the other appraiser graded it F/VVS, then chances are you've got a stone which has what the trade would call a "high" G color, and "high" VS2 grade.

So that's good. Now, about appraised values. I don't know what market level your appraiser was using, but most use average Retail Replacement Value for similar stones purchased at bricks & mortar stores in their geographical area.

Although this stone could be purchased for less through the internet, your fiancee paid a fairly "average" bricks & mortar store price of $4500 for the diamond, and I consider the $4995 to be much more fair as a Retail Replacement Value than the $3500 the appraiser initially quoted.

The $3500 he initially quoted is especially low if he thought it was an F/VVS2, and a very conservative appraisal value even for a G/VS2. It may be possible to purchase that stone in that price range through a specialized medium like the internet, but it's not the norm in the "outside world". And the "norm" is more appropriately used for Retail Replacement Value, unless specifically requested otherwise.
 

Richard Sherwood

Ideal_Rock
Joined
Sep 25, 2002
Messages
4,924
-----------
Then he asked US if it was GIA certified...
does it sound like he should have KNOWN it was a GIA
cert. diamond????
-----------

There's no way to really know unless there's a GIA number inscribed on the girdle. Otherwise it looks like any other diamond.

I usually ask on higher quality stones though, because most high quality stones are certed by one lab or another. Then I explain the subjective nature of diamond grading, and tell them that I'll grade the stone out without looking at the cert to give them my un-influenced opinion of what the stone is. That way they can truly have the opinion of an "outside" expert on how conservatively or liberally (or dead-on) their stone was graded by the major lab.

Also, one other point. A stone that has been certified by the GIA will bring a premium on the market over a stone which hasn't been certified. Sometimes the difference can be dramatic, which you will see if you do a PriceScope search and compare EGL-GIA same grade stones. Non-certified stones will usually trade for even less.
 

FutureWife

Rough_Rock
Joined
Jun 26, 2003
Messages
2
Hi all! Thanks for your help!

Where would I find someone that appraises diamonds better than GIA? Is there a website where I could find people that do it?

I'm in Morris County, NJ so if anyone knows anywone
who does this, please let me know!


Thanks once again for the help!!!
 
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