shape
carat
color
clarity
  1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.
  2. PriceScope Upgrade Completed
    For issues, questions and comments click the link below
    https://www.pricescope.com/community/threads/pricescope-upgraded-comments-and-issues.229551/

    Dismiss Notice

GIA Report vs GIA Certified Appraiser Report

Discussion in 'RockyTalky' started by less_confused, Jul 19, 2009.

Thread Status:
Not open for further replies.
  1. less_confused
    Rough_Rock

    Messages:
    72
    Joined:
    Jul 13, 2009
    by less_confused » Jul 19, 2009
    Short story - I am planning to look at someone''s secondhand stud earrings. She has a report by a GIA certified appraiser.

    What should I expect? Will a GIA certified Appraiser do a complete review including proportion & geometry?
    These are 1.5 ct ttw stud earrings - would GIA remove them from the setting and do a complete report?

    At this point, all I know is
    Color: I
    Clarity: SI-1
    Cut: Perfect
    Carat: 1.5 ttw
    In other words, who knows. I am waiting for a copy of the report.

    As an FYI, the price quoted is $2500. That is ~25% below what I would expect for retail.

    Thanks in advance.
     
  2. Stone-cold11
    Super_Ideal_Rock

    Messages:
    14,069
    Joined:
    Sep 9, 2008
    by Stone-cold11 » Jul 19, 2009
    There is no such thing as GIA certified appraiser. GIA do not certify an appraiser, maybe they teach some courses but that those is a different thing. Most of EGL's graders are GIA graduates anyway.

    Symm and proportions only if the appraiser has the machine to do it. Most probably do not and the appraisal only has carat, color and clarity.

    The discounted price is only due to the stones being ungraded by major labs. I do not think you are getting a great deal from this private deal, probably that is the price he bought it from the store.
     
  3. less_confused
    Rough_Rock

    Messages:
    72
    Joined:
    Jul 13, 2009
    by less_confused » Jul 19, 2009
    Thanks - I figure it''s a quick and dirty appraisal. We''ll see.

    I also feel that the price can be better. But it seems cheaper than retail.
    For 1.5 ct ttw, SI-1 and H/I, I am getting quotes in a range of $3,200~$3,500 depending on the cut and other factors.
    WF has a pair of ready-set-go for $4K (before any discount).
     
  4. Stone-cold11
    Super_Ideal_Rock

    Messages:
    14,069
    Joined:
    Sep 9, 2008
    by Stone-cold11 » Jul 19, 2009
    I think these quotes you are getting are at least for stones that are graded by major labs such as GIA/AGS/EGL/IGI. Stones graded by labs not of AGS/GIA are discounted in trade, and further discounted if they are ungraded which this pairs of studs belongs to.
     
  5. less_confused
    Rough_Rock

    Messages:
    72
    Joined:
    Jul 13, 2009
    by less_confused » Jul 19, 2009
    Thank you - that makes a lot of sense.

    I have new info from the appraiser (claim is GIA standards):
    FWIW Appraiser is Graduate Gemologist, GIA, Senior Member ASA, Master Gemologist Appraiser.

    Gem 1
    Carats: 0.71 by formula
    Color: I
    Clarity: SI
    Measurements: 5.67~5.70 x 3.60
    Table: 58%
    Crown angle: 34.5 degrees
    Girdle: Slightly thick
    Pavilion: 44%
    Culet: small

    Gem 2
    Carats: 0.73 by formula
    Color: I
    Clarity: SI
    Measurements: 5.70~5.76 x 3.70
    Table: 58%
    Crown angle: 34.5 degrees
    Girdle: Slighvery thin to slightly thick
    Pavilion: 43%
    Culet: none
     
  6. Richard Sherwood
    Ideal_Rock

    Messages:
    4,924
    Joined:
    Sep 25, 2002
    by Richard Sherwood » Jul 19, 2009
    For what it's worth, an MGA usually knows what they're doing. Most of them have more experience than the average GIA lab grader.

    Additionally, if correctly graded, $2500 would be a VERY good deal for 1.50 twt I SI1 stones with very good makes. It would be a good price even for J SI2 stones.

    The way to purchase them with no risk would be to insist on a right of return period for ANY reason after having them checked out by the independent appraiser of your choice. 10 days would seem like a reasonable amount of time.
     
  7. less_confused
    Rough_Rock

    Messages:
    72
    Joined:
    Jul 13, 2009
    by less_confused » Jul 19, 2009
    Thank you.
    If the stones are the ones described in the appraisal, I feel good about moving forward.

    Do I need to have a full-blown appraisal (~$150+) or is there an alternative?

    Thanks again for everyone''s amazingly helpful insight
     
  8. denverappraiser
    Ideal_Rock
    Trade

    Messages:
    8,170
    Joined:
    Jul 21, 2004
    by denverappraiser » Jul 20, 2009
    I’m not as impressed. These specs just don’t quite ring right to me. For starters, they were obviously graded in the mounting because the weight was estimated by formula. That’s fine, but it’s decidedly unusual to have crown and pavilion angles provided in this situation and I have to wonder about the accuracy. A 2% error in the weight estimation drops you below 0.70cts each, which is an important threshold pricewise. ‘Perfect’ is not one of the terms used in the GIA cut grading scale or any other scale that I’m familiar with for that matter so it’s not correct that this grading is using ‘GIA standards’.

    This is a classic example of how the purpose of the appraisal can make a big difference. ‘Approximately’ 0.71/I/SI can mean a remarkable range of things. Appraisers tend to be generous when they write reports for insurance valuation purposes because most people prefer to be over insured rather than under insured. This may be suitable for insurance purposes (or not. You can bet the insurance company will revisit at least the value conclusion if there’s a claim) but for shopping purposes it’s entirely inadequate. The difference between a 0.68/J/SI2 and a 0.73/I/SI1 is considerable even without digging into what a ‘perfect’ cut is. Personally, I wouldn’t buy stones in that range without an actual weight, meaning having the stones taken out of the setting and actually weighed. This is something I would never suggest in an appraisal for insurance purposes.

    Yes, you should hire your own appraiser and it should be a mandatory part of the shopping requirements. You want someone who is working for YOU, not the seller and you should have the right to return for a 100% refund if it doesn''t meet their approval.

    Neil Beaty
    GG(GIA) ICGA(AGS) NAJA
    Professional Appraisals in Denver
     
  9. Lorelei
    Super_Ideal_Rock

    Messages:
    40,758
    Joined:
    Apr 30, 2005
    by Lorelei » Jul 20, 2009
    " Perfect Cut" is offputting to me.[​IMG]
     
  10. Richard Sherwood
    Ideal_Rock

    Messages:
    4,924
    Joined:
    Sep 25, 2002
    by Richard Sherwood » Jul 20, 2009
    I''m assuming the word "perfect" was used by the private seller, not the MGA.

    Neil''s got a good point in that you want to be sure about the carat weights, in addition to the grading.

    Hey Neil, would you drop in on the topic "Can this be fixed?" and comment on the botched repair job? I''m curious as to your opinion. Thanks.
     
Thread Status:
Not open for further replies.

Share This Page