Another (what else is new) HUGE GIA identification BooBoo!!

[diagem]

Marty Haske noticed another big (HUGE) identification error on part of GIA!!!

Thank you Marty...

I was kind of surprised Francois Curiel from Christies let it pass by to go on auction in that matter...

Lot 393 AN EXTRAORDINARY COLOURED DIAMOND RING

"...AN EXTRAORDINARY COLOURED DIAMOND RING
Set with a rectangular-cut fancy intense blue diamond weighing 13.39 carats, to the micro pavé-set fancy pink diamond surround and diamond bifurcated hoop, mounted in platinum and 18k white gold, ring size 6
Accompanied by report no. 8766622 dated 20 June 2007 from the GIA Gemological Institute of America stating that the diamond is Fancy Intense Blue colour, VS1 clarity...."

With an appendix that reads the following:

"...''Blue diamonds of any size are unusual. Polished blue diamonds, particularly strongly colored examples such as the 13.39 carat emerald cut described on GIA report 8766622 are extremely rare for its color and its size. Throughout GIA''s decades of grading and classifying fancy colored diamonds encountering a blue, of any quality weighing more than a few carats is unusual.
Arguably, the most famous diamond in the world is the 44.50 carat Fancy Deep Grayish Blue Hope diamond housed in the Smithsonian Institute in Washington D.C.
In addition to their unique gem qualities, blue diamonds such as the 13.39 carat emerald cut, possess physical properties that have been carefully studied by scientist for decades. Their ability to conduct heat and act as semi-conductors for electricity is well known amongst scientist and have been reproduced in the laboratory for scientific applications..."

Here is the actual GIA report and appendix attached to the specific Diamond:

http://www.adamasgem.org/pdfs/fluff.pdf


ANYONE KNOW WHAT THE DIFFERENCE IN PRICE BETWEEN A "CUT CORNERED RECTANGULAR MIXED CUT and an EMERALD CUT of this RARE WEIGHT AND COLOR COMBINATION COULD BE????

 

[oldminer]

I doubt there is any significant difference created in the "VALUE" of the diamond by calling it Emerald cut on one letter and Mixed whatever on its other document.

This is a wonderful case of two things: Typists (computer terminal operators) are human and make dumb errors and one buys a diamond, not the document.

The auction gallery, or whoever paid for this very costly letter and GIA cert, should ask the GIA for a corrected copy which I am sure they would provide. Buyers of this sort of material probably would not be put off by the error, but meticulous enough to get it corrected once purchased or possibly even before they bid.

With such a rare diamond, the color and weight trumps the name of the cut, I'd think. For 1/2 the fair price, I'd hock the house and buy it as a pear shape. It wouldn't matter to me so long as the cost was low.

 

[diagem]

Date: 5/2/2008 11:37:42 AM
Author: oldminer
I doubt there is any significant difference created in the ''VALUE'' of the diamond by calling it Emerald cut on one letter and Mixed whatever on its other document.

I would agree with you in "general"!

This is a wonderful case of two things: Typists (computer terminal operators) are human and make dumb errors and one buys a diamond, not the document.

The problem is..., too many people''s purchases depend on "the document"..., and the writing on the document has the potential to be the cause of price differentiation! The rarer the Diamond..., the more volatile the range of value!!!

The auction gallery, or whoever paid for this very costly letter and GIA cert, should ask the GIA for a corrected copy which I am sure they would provide. Buyers of this sort of material probably would not be put off by the error, but meticulous enough to get it corrected once purchased or possibly even before they bid.

Since this sort of documentation describes a "top league" rare gem for identification and re-sale purposes (at an international auction)..., where a lot of potential buyers (who are not necessarily in the trade) depend on it for value assessment and bidding..., I would expect two major entities such as Christies and GIA to make sure their descriptions are correct prior to such an important sale event!

With such a rare diamond, the color and weight trumps the name of the cut, I''d think. For 1/2 the fair price, I''d hock the house and buy it as a pear shape. It wouldn''t matter to me so long as the cost was low.

Color and rarity trumps the "name" of the cut..., but the value between cuts can be HUGE!
Dave..., you know the saying: If you want to own the very best and rarest..., you need to pay the most!

And a pear shaped Diamond of this rarity would be much more valuable than a Radiant!

 

[Garry H (Cut Nut)]

I am more concerned that GIA will not use the accepted names for any and all diamond cuts. It creates general confusion, especially for inexperianced sales people.

I also believe the then stand in, and now President of the GIA wrote the accompanying ''appendix'' promotional letter. That presumably adds value to the diamond. Is that the right thing for an independant authority to do? Especially during the period when she was filling in for the President who fell on his sword over the bribery issues?

 

[oldminer]

I would wonder what extra was charged for such an "opinion letter" myself. If it was done for free, one might have to ask what special relationship does the submitter of the stone have with the Lab? One might also ask what guidelines are available to the trade for when such a letter is available.

 

[diagem]

Date: 5/3/2008 6:22:46 AM
Author: Garry H (Cut Nut)
I am more concerned that GIA will not use the accepted names for any and all diamond cuts. It creates general confusion, especially for inexperianced sales people.

I also believe the then stand in, and now President of the GIA wrote the accompanying ''appendix'' promotional letter. That presumably adds value to the diamond. Is that the right thing for an independant authority to do? Especially during the period when she was filling in for the President who fell on his sword over the bribery issues?

Moonlighting???

 

[diagem]

Date: 5/3/2008 7:23:20 AM
Author: oldminer
I would wonder what extra was charged for such an ''opinion letter'' myself. If it was done for free, one might have to ask what special relationship does the submitter of the stone have with the Lab? One might also ask what guidelines are available to the trade for when such a letter is available.

In some instances..., GIA does offer what they call a "Supplemental letter to (accompany) GIA grading report#_________" showing a certain material type!!! But its not on D. Baker''s own personal letter heads~!!

I guess GIA is trying to ride Gubelin''s long time practice of attaching appendixes to rare type Diamonds...

And since then these appendixes have no meaning whatsoever anymore

!