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Chipped Fancy Pink

DiamondDust13

DiamondDust13

Shiny_Rock
Premium
Joined
Oct 26, 2017
Messages
167
A Natural Fancy Light Pink diamond princess cut is chipped. I was always under the impression that once a diamond is chipped it has lower value. Is this always true? When it is not expected to be for resale?
 
Is it an eye visible chip? Is it on the girdle? Is it so light you have to look for the color, is it a serious chip? What is the value before the chip? Will it go through probate, or be gifted prior to death to a descendent?

We do not have the information we require, but yes, I am not sure I can think of a reason why a chipped diamond might be more expensive than the same diamond after repolishing, unless something unusual like the diamond being color zoned and fixing the chip removes the color.

Just a few of my thoughts...

Wink
 
Wink said:
Is it an eye visible chip? Is it on the girdle? Is it so light you have to look for the color, is it a serious chip? What is the value before the chip? Will it go through probate, or be gifted prior to death to a descendent?

We do not have the information we require, but yes, I am not sure I can think of a reason why a chipped diamond might be more expensive than the same diamond after repolishing, unless something unusual like the diamond being color zoned and fixing the chip removes the color.

Just a few of my thoughts...

Wink
Click to expand...

Thank you for your thoughts, Wink,

It is eye visible because it is the tip of the corner of the princess cut. It is graded as Light Pink. The price was alright because it was much lower in cost than others similar to it.

I was hoping to use it for my ring as a bezel accent in the profile of the ring. I wonder if the non pointed corner will stand out after the bezel?
 
KaliDiamond said:
A Natural Fancy Light Pink diamond princess cut is chipped. I was always under the impression that once a diamond is chipped it has lower value. Is this always true? When it is not expected to be for resale?
Click to expand...

Hi KaliDiamond!

Here's a few things I would consider.
If the stone is already graded by GIA- is the chip indicated on the report?
If it is, then the entire valuation is more...stable than if the stone was chipped subsequent to the GIA report. As I will detail, grade changes are possible after repair.
If the chip is visible, and we consider a potential repair on the wheel:
If there was/is a GIA, regardless of if it mentions the chip, you will need a new report.
SOmetimes tiny changes in a facet can somehow affect the GIA color grade- in either direction.
Hypothetically speaking - a GIA graded Light Pink which needs repair, might come back Fancy Light Pink after the repair, and regrade- increasing the value tremendously.
But it could also come back Faint Pink, reducing value.
In terms of the setting and repair implications- I'd generally want to repair the corner of a princess before setting it.

How large a stone are we talking?
 
Chips can be pretty big deals. For example, most insurance companies would call this pre-existing damage, which will get you kicked out of underwriting for your entire ring. That makes it uninsurable. I guarantee it will make a headache if you try and sell it. Some chips make a stone more prone to other damage. Repairing it comes with its own issues discussed above. It's worth noting that repairs don't always work out as expected.

The usual strategy is to let the seller take the risks and then buy it for what it is when it’s done. This seems like their problem, not yours. Is there a reason you aren’t doing this?
 
Rockdiamond said:
Hi KaliDiamond!

Here's a few things I would consider.
If the stone is already graded by GIA- is the chip indicated on the report?
If it is, then the entire valuation is more...stable than if the stone was chipped subsequent to the GIA report. As I will detail, grade changes are possible after repair.
If the chip is visible, and we consider a potential repair on the wheel:
If there was/is a GIA, regardless of if it mentions the chip, you will need a new report.
SOmetimes tiny changes in a facet can somehow affect the GIA color grade- in either direction.
Hypothetically speaking - a GIA graded Light Pink which needs repair, might come back Fancy Light Pink after the repair, and regrade- increasing the value tremendously.
But it could also come back Faint Pink, reducing value.
In terms of the setting and repair implications- I'd generally want to repair the corner of a princess before setting it.

How large a stone are we talking?
Click to expand...
Thank you for your helpful info about the GIA report. It does come with a GIA report not indicating the chip.
It is .13 ct size will that impact the repair eligibility?
 
denverappraiser said:
Chips can be pretty big deals. For example, most insurance companies would call this pre-existing damage, which will get you kicked out of underwriting for your entire ring. That makes it uninsurable. I guarantee it will make a headache if you try and sell it. Some chips make a stone more prone to other damage. Repairing it comes with its own issues discussed above. It's worth noting that repairs don't always work out as expected.

The usual strategy is to let the seller take the risks and then buy it for what it is when it’s done. This seems like their problem, not yours. Is there a reason you aren’t doing this?
Click to expand...

Thank you for your thoughts,

I am leaning toward not having it repaired just because of it being so delicate at .13 ct. I chose this piece because to me I value the color and the cut and the size just happens to work with my ring idea as a peek-a-boo diamond. It was very reasonably priced as well for having been GIA certified and natural.
 
I think you're on the right track. A stone that small can be repaired. But likely not worth the effort based on the size and how you're setting it.
Just a general mote- as mentioned the GIA report is invalid, based on a chip that occurred subsequent to the ,GIA. In cases of larger stones this can make a huge difference.
 
Yep. Good plan. And if the appraiser documents it based on present condition, which probably means I1-I2, the insurer will probably cover it.
 
I just want to add that whatever you do, stay far, far away from Diamond Nexus. They are crooks. Find another source for your lovely settings.
 
ChristineRose said:
I just want to add that whatever you do, stay far, far away from Diamond Nexus. They are crooks. Find another source for your lovely settings.
Click to expand...
Thank you for the headsup!
 
ChristineRose said:
I just want to add that whatever you do, stay far, far away from Diamond Nexus. They are crooks. Find another source for your lovely settings.
Click to expand...
EEK. I assumed those were just for inspiration. PLEASE do avoid them. Not only are they crooks, they don't sell diamonds. Their settings are very very lightweight and they sell crazily overpriced CZs. If you love a setting they offer, you could get a quote from David Klass or ID Jewelry.
 
Last edited:
rockysalamander said:
EEK. I assumed those were just for inspiration. PLEASE do avoid them. Not only are they crooks, they don't see diamonds. Their settings are very very lightweight and they sell crazily overpriced CZs. If you love a setting they offer, you could get a quote from David Klass or ID Jewelry.
Click to expand...
I will make sure that I stay away, definitely not a fan of CZ sold as diamond. I wish I could put together my own CAD. Something were there is a model that I can edit manually.
 
KaliDiamond said:
I will make sure that I stay away, definitely not a fan of CZ sold as diamond. I wish I could put together my own CAD. Something were there is a model that I can edit manually.
Click to expand...
Now...that's ambition! You could try 3design (more point and click than Rhino3D). Rhino3D is more powerful, but my friend's say is not really a 'learn as you go' software for a non-CAD users
 
rockysalamander said:
Now...that's ambition! You could try 3design (more point and click than Rhino3D). Rhino3D is more powerful, but my friend's say is not really a 'learn as you go' software for a non-CAD users
Click to expand...
I have a diploma with honours with 3D animation and visual effects as a modeling artist and would definitely want the chance to test out the latest software and techniques for this.
:D
 
KaliDiamond said:
I have a diploma with honours with 3D animation and visual effects as a modeling artist and would definitely want the chance to test out the latest software and techniques for this.
:D
Click to expand...
Holy moley! Then, go for it. You probably have both the skills and contacts to find the right software match. :geek:
 
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