GIA report red flag?

[ekboy912]

Hi all,

I was shown a diamond today that was promising, but the date of issue was in 2002. Should I be concerned? Can it be possible theres a diamond from 2002 that hasn’t been snatched up?

It’s a 3.02ct emerald cut F VS2 table 67% depth 67.7% medium girdle no culet excellent polish very good symmetry no fluorescence

 

[marymm]

Possibly it hasn't ever been sold but more likely it is a trade-in ... if it were me, and if I were very interested in the diamond, I'd want an updated GIA or AGS diamond report.

 

[Karl_K]

unless its on the second hand market at a steep discount it needs an updated report.

 

[Rockdiamond]

I'm sure many readers have similar questions.
Most likely the diamond was sold at some point. Unless it's really ugly- but you saw it. Did you love the way it looked?
I understand Karl's point- but if a reputable dealer is guaranteeing there's no chips or damage, and offering such a stone, there's no reason for them to offer any sort of steep discount. GIA is back to work, so a new report is a week or so away. If a private individual is selling it, yes, deeeeeep discount.

In any event- I'm curious- did you compare the price to what you see online, and if so, how does it compare?

 

[Karl_K]

I consider a 18 year old report the same as not having one.
David disagrees and says a dealer can tell if there were changes.
Yes many can but it defeats the purpose of a 3rd party report.

 

[Bron357]

For a diamond that size and price, I’d be wanting an up to date GIA report. It’s not a huge expense and takes about a week. A vendor serious about selling such an expensive diamond should have no issue arranging a new report for a serious buyer.

 

[ekboy912]

I'm sure many readers have similar questions.
Most likely the diamond was sold at some point. Unless it's really ugly- but you saw it. Did you love the way it looked?
I understand Karl's point- but if a reputable dealer is guaranteeing there's no chips or damage, and offering such a stone, there's no reason for them to offer any sort of steep discount. GIA is back to work, so a new report is a week or so away. If a private individual is selling it, yes, deeeeeep discount.

In any event- I'm curious- did you compare the price to what you see online, and if so, how does it compare?

The person who showed me the diamond was a private dealer, and was a referral from a friend. I really did like the way it looked. I’m going to attach a couple videos I took. I saw it in the office lighting setting and also saw it outside in the Los Angeles sun. It was quite lively and beautiful to me. When I saw the report, I was concerned that it was actually an ugly stone and that’s why it had an old report and maybe it was never sold. However, I actually quite liked what I saw! I did not know that I could ask for an updated report so thanks for that. I’ll definitely request it. The price was comparable to what’s onliine. There’s a discount but I wouldnt consider it “steep.” It was like a 10% from what rarecarat quoted using the report #.

As far as the videos,
video 1
video 2

tell me what you think!

 

[ekboy912]

For a diamond that size and price, I’d be wanting an up to date GIA report. It’s not a huge expense and takes about a week. A vendor serious about selling such an expensive diamond should have no issue arranging a new report for a serious buyer.

I didn’t know I could request an updated report. Will do! Thanks!

 

[LilAlex]

I have a 25-year-old GIA report for spouse's e-ring stone.

I think it just means that the stone has been in private hands for a while. I don't know when they started adding details on cut but mine didn't have them and that's a definite handicap.

 

[Rockdiamond]

Karl- it was easy to misconstrue what I wrote. You did
I meant that if the dealer is sure the stone matches the report, and that there’s no damage, I would not expect a large discount. The reason is because I’d anticipate the dealer simply obtaining a new report to alleviate the consideration.

@eckboy912 trade members aren’t allowed to comment on particulars about stones being offered by competitors. But trust your eyes. And request the new report for your own benefit.

 

[ekboy912]

so i found out that the diamond was a trade-in, and the seller is willing to get me an updated GIA report if i like it enough to put a deposit down. if an updated report comes back worse i’m not obligated to buy the ring or we can get a price adjustment. question - does the fact that the diamond was a trade-in from someone else give me leverage in negotiating a better price, or does that diamond “hold its value” in the marketplace?