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Diamond re-cut. Is it worth it?

ihy138

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I posted this a while ago about a chip in my 1.57 ct OEC diamond:

[URL='https://www.pricescope.com/community/threads/my-worst-nightmare-chipped-diamond.219560/']https://www.pricescope.com/community/threads/my-worst-nightmare-chipped-diamond.219560/[/URL]

I have reached out to a couple of vendors (GOG and SS) to price a re-cut. Without giving specifics of either vendor, the re-cut is going to cost me at least $1,000-$1,200, plus shipping and fees for re-setting the stone after it's cut. I'm wondering, is this worth the cost to restore some value to my stone? In other words, will a re-cut add $1,200 value to this diamond? I'm just not sure if it is worth it.
 

diamondseeker2006

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Well, part of that would depend on the value of the stone now and how much weight it will lose from the recut. Were they able to give you any idea from pictures what you might be looking at for weight after the recut?

Unless the chip is tiny and doesn't bother you, I can think of few reasons not to recut.
 

Resonance.Of.Life

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Also, another pertinent question to ask is "Will insurance cover the loss of the stone while being re-cut?"

If insurance doesn't cover it-- what happens if it breaks on the cutting wheel?
 

diamondseeker2006

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While we do hypothetically think about the issue of potential damage, a lot of us have had recuts done and in the 10 years I have been here, I have never heard of a recut disaster through respected vendors. My stone definitely was not insured, and I just didn't worry about it, because the stone was not going to be worn unless it was recut.
 

Mayk

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Just a thought.

Based on the risk and cost. After being recut it will likely not fit in your current setting. So that means you might be looking at a cost for a new setting in addition to the recut cost.

Maybe you should consider changing the setting to a bezel type setting that may protect the current chip and partially hide it. Takes away the risk and puts the cost into a safer setting.

There are some very pretty bezel settings with and with out Diamond halos.
 

Diamondz1

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Hi ihy, If restoring the value of the stone is the priority perhaps you can get an estimate of how much carat weight will be lost in the recut - as Diamonseeker mentioned - and speak to an appraiser about the stone's current and potential value?

I had the girdle on my antique cushion recut before having it set because it was already chipped in several places and my thinking was: if it chipped once, it can chip again. Regardless of value, or whether you chose to recut vs. reset, you'll probably want to do something just to be sure you're not leaving your stone open to further damage.
 

MollyMalone

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FYI because it might factor into your decision: you may not be able to get insurance coverage on what's been an uninsured stone which now has such a chip. At least, it's likely to require legwork & additional hassle to convince a company to issue a policy for a stone with this kind of "pre-existing condition". But you can certainly call Jewelers Mutual to explore the question before making a decisiin re a re-cut

Good luck with whatever you decide!
 

ihy138

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diamondseeker2006|1457671236|4003225 said:
Well, part of that would depend on the value of the stone now and how much weight it will lose from the recut. Were they able to give you any idea from pictures what you might be looking at for weight after the recut?

Unless the chip is tiny and doesn't bother you, I can think of few reasons not to recut.
Great point. Through photos, they were not able to give me an estimate of weight loss to my stone. Although, I imagine it will be a bit because the chip is visible with the naked eye. I supposed I could mail them the stone for an evaluation, but I wasn't crazy about spending money for shipping to ultimately decide against doing the re-cut.
 

ihy138

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Resonance and MollyMalone - Re:insurance. One of the vendors is actually requiring me to take out insurance on the stone before they are willing to re-cut. This obviously adds to the cost if I went with them, but it also complicates the matter because I always thought insurance companies will not pay out for damage during re-cuts and will probably not cover a stone already chipped. Both vendors are not responsible for damage to the stone, which is understandable because this is not a predictable thing.
 

ihy138

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Diamondz1|1457707092|4003380 said:
Hi ihy, If restoring the value of the stone is the priority perhaps you can get an estimate of how much carat weight will be lost in the recut - as Diamonseeker mentioned - and speak to an appraiser about the stone's current and potential value?

I had the girdle on my antique cushion recut before having it set because it was already chipped in several places and my thinking was: if it chipped once, it can chip again. Regardless of value, or whether you chose to recut vs. reset, you'll probably want to do something just to be sure you're not leaving your stone open to further damage.
I guess I'm worried about the "value" in case I ever decide to sell, but I honestly don't see that happening. So, does it matter as long as the stone is still structurally sound? I guess not. Something to think about - thank you.
 

ihy138

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Mayk|1457705402|4003372 said:
Just a thought.

Based on the risk and cost. After being recut it will likely not fit in your current setting. So that means you might be looking at a cost for a new setting in addition to the recut cost.

Maybe you should consider changing the setting to a bezel type setting that may protect the current chip and partially hide it. Takes away the risk and puts the cost into a safer setting.

There are some very pretty bezel settings with and with out Diamond halos.
You're completely right, since it is currently in a halo made to fit my stone perfectly. Before this whole thing happened, I actually bought a setting from Jewels by Grace hoping to re-set and then have the whole thing appraised and insured. I just dragged my feet on it doing other projects, and because I was still enjoying my halo. Here is the setting I bought:

https://jewelsbygrace.smugmug.com/SOLD-Jewels/192ct-Old-European-Cut-Diamond/

I'm not sure if that is more or less safe than my current setting. Do you think a bezel will offer more protection? The chip is right where the crown and the table meet and not on the girdle. I do adore bezels with a diamond halo. :love:
 

Mayk

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ihy138|1457711884|4003415 said:
Mayk|1457705402|4003372 said:
Just a thought.

Based on the risk and cost. After being recut it will likely not fit in your current setting. So that means you might be looking at a cost for a new setting in addition to the recut cost.

Maybe you should consider changing the setting to a bezel type setting that may protect the current chip and partially hide it. Takes away the risk and puts the cost into a safer setting.

There are some very pretty bezel settings with and with out Diamond halos.
You're completely right, since it is currently in a halo made to fit my stone perfectly. Before this whole thing happened, I actually bought a setting from Jewels by Grace hoping to re-set and then have the whole thing appraised and insured. I just dragged my feet on it doing other projects, and because I was still enjoying my halo. Here is the setting I bought:

https://jewelsbygrace.smugmug.com/SOLD-Jewels/192ct-Old-European-Cut-Diamond/

I'm not sure if that is more or less safe than my current setting. Do you think a bezel will offer more protection? The chip is right where the crown and the table meet and not on the girdle. I do adore bezels with a diamond halo. :love:
I'm not a good resource to answer but it's certainly worth asking. Nothing to lose and no cost associated with finding out. I could be way off but certainly the easiest option to try.
 

Diamondz1

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No, you're right - value is a totally important consideration. I didn't mean to suggest that it's not, I just meant that it's hard to determine without the help of an expert ; )
 

jeweln

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can you ask if Brian Gavin can do recut ? my RB recut by him cost me around $500.
 

MollyMalone

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ihy138|1457711284|4003409 said:
Resonance and MollyMalone - Re:insurance. One of the vendors is actually requiring me to take out insurance on the stone before they are willing to re-cut. This obviously adds to the cost if I went with them, but it also complicates the matter because I always thought insurance companies will not pay out for damage during re-cuts and will probably not cover a stone already chipped. Both vendors are not responsible for damage to the stone, which is understandable because this is not a predictable thing.
Requiring you to take out insurance -- even though it's understood that they will not be liable for any damage while it's in their hands -- surprises me; did they give you any explanation? I'm stumped so am wondering what I'm overlooking.

Especially since you purchased the stone's future setting "home" from Grace, confer with & get a price quote from whomever she recommends? (And Adam at Okd World Diamonds).
 

ihy138

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Thank you Mayk and Diamondz 1 - you're right that an exert opinion will be helpful on both counts! :wavey:
 

ihy138

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jeweln|1457712883|4003423 said:
can you ask if Brian Gavin can do recut ? my RB recut by him cost me around $500.
Wow! That's very reasonable, and to be honest sort of what I was hoping to pay. I will have to reach out to them and see if they deal with OECs.
 

ihy138

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MollyMalone|1457716584|4003473 said:
ihy138|1457711284|4003409 said:
Resonance and MollyMalone - Re:insurance. One of the vendors is actually requiring me to take out insurance on the stone before they are willing to re-cut. This obviously adds to the cost if I went with them, but it also complicates the matter because I always thought insurance companies will not pay out for damage during re-cuts and will probably not cover a stone already chipped. Both vendors are not responsible for damage to the stone, which is understandable because this is not a predictable thing.
Requiring you to take out insurance -- even though it's understood that they will not be liable for any damage while it's in their hands -- surprises me; did they give you any explanation? I'm stumped so am wondering what I'm overlooking.

Especially since you purchased the stone's future setting "home" from Grace, confer with & get a price quote from whomever she recommends? (And Adam at Okd World Diamonds).
They didn't give me any further explanation, but stated that it had to be insured prior to their cutter working with the stone. I imagine it's just to further liability, but it does seem redundant and I can't imagine insurers would cover that anyhow.

Great idea to reach out to Grace. I haven't done that yet. I did reach out to OWD and didn't hear back. :|
 

MollyMalone

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ihy138|1457729676|4003580 said:
* * * Great idea to reach out to Grace. I haven't done that yet. I did reach out to OWD and didn't hear back. :|
Phone calls are the most efficient-productive way of initially making contact with Adam & having preliminary discussions. He's not really "into" e-mail, so if that's how you reached out to him, I'll encourage you to give him a ring. Plus, I think you'll enjoy having an actual conversation with him; he's very nice and informative.
 
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