GIA Question "Potential" ?

[shady71]

I recently purchased an OEC diamond from a local pawn shop. I sent the stone to GIA last week for grading to be sure it was as represented or at least close as I think I got a very good deal. The diamond and report is to be sent out tomorrow, but they gave me the information over the phone today. Size 2.12ct, color S-T (was thought to be M/N/O), clarity VS-2 "potential". I asked what does VS-2 "potential" mean and she explained the clarity could potentially change if resubmitted. I asked, why would I re-submit it, it is already there, if they are "unsure" they should keep it till they are SURE. I don''t understand this?? I paid to ship it there, paid for them to grade it, and will pay for it''s return. Why would I re-submit it in hopes it will change. Can any of the pros explain this??

 

[Moh 10]

Maybe "having VS2 potential" is their way of saying this is one of those borderline flip-a-coin stones and this time the coin landed on SI1.

I wish labs would abandond these separate grades and just assign a number from 1 to 100 for color and clarity.

 

[shady71]

Date: 6/24/2009 9:32:24 PM
Author: Moh 10
Maybe ''having VS2 potential'' is their way of saying this is one of those borderline flip-a-coin stones and this time the coin landed on SI1.

I wish labs would abandond these separate grades and just assign a number from 1 to 100 for color and clarity.

They said they gave it VS-2 but that it could potentially change if re-submitted. She implied it could change for better or worse.

 

[chrono]

Sounds to me like the clarity rating on the bordeline. They are assigning a VS2 right now but if resubmitted, another grader might consider it an SI1 or VS1 (I'm not sure which line the clarity is stradling on).

 

[whatmeworry]

I have nothing to add except to say that''s a pretty diamond!

 

[stone-cold11]

Nice stone anyway.

 

[Lorelei]

I think its lovely! And ditto Chrono.

 

[shady71]

Date: 6/24/2009 11:03:08 PM
Author: Chrono
Sounds to me like the clarity rating on the bordeline. They are assigning a VS2 right now but if resubmitted, another grader might consider it an SI1 or VS1 (I''m not sure which line the clarity is stradling on).

I just spoke to GIA again, this time got a very nice gemologist who fully explained the "VS2 potential." She explained the stone has "surface reaching inclusions, including feathers, chips and cavities" but AS IS the stone grades as VS2. There are NO flaws internally so if I were to recut to eliminate the surface flaws, I would have an IF stone. Of course I would be sacrificing weight to do so, the stone is currently a 2.12 and a recut might take me below the 2ct mark. What to do?? This is clearly a dilemma

 

[shady71]

Whatmeworry, Stone-cold, Lorelei, thank you all for your kind comments. I too think the stone is lovely, but now to decide whether or not to clean her up to remove the surface inclusions and get that IF grading???

 

[Paul-Antwerp]

''Potential'' means that the grade can improve if the diamond is re-cut, while staying within a size-group.

Live long,

 

[oldminer]

Paul is right on. Likely the stone has surface wear which dictates VS2 as is. With just a bit of re-polishing you will improve the clarity and not drop under 2.00ct. Of course, if you go after a full blown recut, you will not likely have anything close to a 2 carat stone left. If nothing is inside the diamond now, you might get an IF grade, but they never promise. Sometimes when the stone is re-polished they magically find an internal flaw they missed before. Oops!

 

[shady71]

Date: 6/25/2009 9:33:01 AM
Author: oldminer
Paul is right on. Likely the stone has surface wear which dictates VS2 as is. With just a bit of re-polishing you will improve the clarity and not drop under 2.00ct. Of course, if you go after a full blown recut, you will not likely have anything close to a 2 carat stone left. If nothing is inside the diamond now, you might get an IF grade, but they never promise. Sometimes when the stone is re-polished they magically find an internal flaw they missed before. Oops!

While I understand what you are saying about re-polishing, the report is referencing "Feather, Chip, Cavity, Indented Natural, Natural" rather than surface wear. Would these inclusions require more that just a re-polish?

If I were to re-polish and go down to 2ct, would an IF on this stone (or at worse a VVS) significantly increase the value?

 

[oldminer]

You must consult a diamond cutter who will know how to locate an judge the size of the pertinent inclusions and be able to estimate the amount of weight loss to get to various levels of improved clarity. It is educated guesswork and there are risks that no one but the owner of the diamond will bear. Having the stone re-polished wil likely improve the clarity a bit and also improve the brilliancy from surface reflection. I would not suggest to any consumer to take it to the next level. The diamond would probably be radically changed in appearance and who knows if you''d consider it an improvment to have a higher clarity, but possibly a stone you now might judge as less visually attractive. Too much risk involved to go that far.

 

[strmrdr]

unless there is a durability risk I wouldn''t have it recut.

 

[Rockit]

Lovely diamond. I''d imagine that knowing your ultimate plans for this beauty would influence a decision whether or not to polish/recut. If the diamond is for you, and you love it as is, it''d probably be most prudent to leave it alone. However, if having (or selling) an IF is more important to you than what you have now, and you can afford and are willing to take a risk, then, you may want to research your options with a reputable, talented cutter. Of course, finding the right cutter is another matter altogether...

 

[Rockdiamond]

HI Shady!

Date: 6/25/2009 9:52:47 AM
Author: shady71

If I were to re-polish and go down to 2ct, would an IF on this stone (or at worse a VVS) significantly increase the value?

When we''re considering diamonds in this color and cut there is little difference in value between an IF and a VS2.
It''s not like a colorless RBC where there''s a set percentage difference between an SI1 and a VS2.
One reason is that an S-T color is about the lowest price color you can find.
That makes them a screaming bargain IMO......

PS- NICE STONE- congrats!!!!


I agree with others who''ve suggesting not re-cutting.
But it would be possible to repair the stone''s chips- follow GIA''s plot for the potential, and end up with a stone that looks exactly like the one you started with.
There are risks though- so the advice not to touch the stone is good.

 

[denverappraiser]

The problem here is with the person who spoke with you on the phone. They are accustomed to working with the jewelry trade and one of the options that dealers often need to consider is to decline the report (for a fee but it’s less than the whole lab fee), recut the stone and resubmit it in the hopes of getting a higher grade. That's why they want to talk about it on the phone before the report is printed. He/she was trying to do you a favor by leaving open this opportunity. When your report arrives it will give a solid clarity grade however they see it NOW and there will be no mention on it of ‘potential’ anything.

I’m definitely with the above in recommending against cutting.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver