Help Choosing a GIA Report

[GimmeSomeSugarBakes]

Hello, rather clueless newbie here.

My mom passed away almost a year ago, and I am just beginning to thaw enough to want explore the diamond she left behind. While the diamond was treasured, there is no paper trail, aside from an appraisal which describes it as "a circular-cut diamond gauged at approximately 2.00+ cts." Very helpful! The appraisal is dated 2003, from Bonhams & Butterfields.

(An aside - the history, as I know it: many years ago, my mom was gifted with the diamond from a very dear friend, who had a stunning collection, and who was much older than she. The diamond likely dates back to the 1930's or earlier; it was originally housed in a large, platinum dinner ring.)

I am interested in acquiring a GIA report and have created a client account. My question, after reading the various GIA report descriptions, is: which report should I obtain? I am certainly after information re: the diamond, beyond a current appraisal. Selling the diamond, someday, is unlikely but not completely out of the realm of possibility. So, having a report that a potential buyer may want is a consideration.

Thank you in advance for any guidance. I really appreciate it!

 

[denverappraiser]

It has a lot to do with why you want it.

The most common, by far, is the Diamond Grading Report plus the inscription service. You cant get a dossier on stones over 1.99cts, you aren't eligible for an origin report, and the electronic thing probably won't do you a lot of good. Bear in mind that they will only accept unmounted stones so someone will need to take it out of the setting and, assuming your plan is to keep it in the same setting, reset it. That'll also answer the over/under 2.00 question. If you're going to sell it, the buyer probably is going to be interested but, be aware, it may work against you as well. It may not say what you want and some of the new info, like a cut grade in particular, may bite you.

 

[sledge]

So sorry for the loss of your mom. I hope the stone she gifted to you brings a smile & reminds you of her in a positive way.

If I were in your shoes, I would likely get the report for my own curiosity. I would prefer the standard diamond grading report so you have a clarity plot as well. Cost on a 2-2.99 carat stone is $180. For a small additional fee you can have the GIA number inscribed on the girdle.

Also, please note that they only grade UNMOUNTED stones. So you may need to make arrangements with a local jeweler to unmount the stone. And possibly remount if you plan on keeping the original setting (assuming it has one).

Also not sure your expectations to how GIA may classify the stone, but here is a chart with some designations & criteria they utilize. Perhaps an easy one to identify with the naked eye would be the culet size.

Anyhow, hope this helps.

Edited to Add:
I got interrupted and see that @denverappraiser beat me to the punch on several items. Sorry for some of the duplication.

 

[GimmeSomeSugarBakes]

It has a lot to do with why you want it.

The most common, by far, is the Diamond Grading Report plus the inscription service. You cant get a dossier on stones over 1.99cts, you aren't eligible for an origin report, and the electronic thing probably won't do you a lot of good. Bear in mind that they will only accept unmounted stones so someone will need to take it out of the setting and, assuming your plan is to keep it in the same setting, reset it. That'll also answer the over/under 2.00 question. If you're going to sell it, the buyer probably is going to be interested but, be aware, it may work against you as well. It may not say what you want and some of the new info, like a cut grade in particular, may bite you.

Thank you for the feedback. The diamond is no longer in a setting, so that isn’t a concern. I don’t have any expectations of the cut or color or clarity. Though, of course if I ever decide to sell, I hear what you are saying. Thank you again.

 

[GimmeSomeSugarBakes]

So sorry for the loss of your mom. I hope the stone she gifted to you brings a smile & reminds you of her in a positive way.

If I were in your shoes, I would likely get the report for my own curiosity. I would prefer the standard diamond grading report so you have a clarity plot as well. Cost on a 2-2.99 carat stone is $180. For a small additional fee you can have the GIA number inscribed on the girdle.

Also, please note that they only grade UNMOUNTED stones. So you may need to make arrangements with a local jeweler to unmount the stone. And possibly remount if you plan on keeping the original setting (assuming it has one).

Also not sure your expectations to how GIA may classify the stone, but here is a chart with some designations & criteria they utilize. Perhaps an easy one to identify with the naked eye would be the culet size.

Anyhow, hope this helps.

Edited to Add:
I got interrupted and see that @denverappraiser beat me to the punch on several items. Sorry for some of the duplication.

 

[denverappraiser]

Weigh it, or have someone else weigh it if you don't have a scale. If it's over 2.00, you don't really have any choices beyond the inscription, which most people want, and whether to do it at all. Even under 2.00, what you get for the extra $36 is the plotting diagram, which will tell you something about the condition.

 

[GimmeSomeSugarBakes]

Thank you for your kind words, sledge, and for all if the information. My curiosity is definitely propelling me down this particular road.., for my own knowledge.

I will take a look at the diamond, and examine with the GIA chart information in mind.

Also, how does one go about placing an insurance value (for shipping to GIA) on an unknown?

 

[kenny]

I'd get GIA's most expensive grading report.

Why?
More grades, measurements, and test results by the premier gem grading lab is not only interesting for becoming as certain as possible about what you have, it may come in handy one day to prove a higher value if you sell the diamond or plan a recut to optimize its light performance.

Also, considering the value of the diamond, it is not that much more expensive.

 

[kenny]

... Also, how does one go about placing an insurance value (for shipping to GIA) on an unknown?

Good question.

I'd find a reputable appraiser to document her/his opinion on the value.
Pricescope has a list of them, but I can't find it after PS software upgraded last night.

BTW, click on this link and scroll down for info on GIA's various reports.

Diamond Certification: Everything You Need To Know

Diamond certification and grading reports describe a diamond and help you understand its value. Commonly certified by GIA, AGS and IGI.

www.pricescope.com

 

[John Pollard]

@kenny here is a little PS hack. Lowercase words in gray on EDU pages are anchors. So the section on GIA can be jumped to by adding #gia to the end of the url.



https://www.pricescope.com/education/diamond-certification#gia

Ultimately there will be a table of contents accordion on these pages with all the anchors linked, but I don't mind sharing that temp hack with awesome vets like yourself. Cheers.

 

[GimmeSomeSugarBakes]

Thank you, Kenny. I am looking forward to reading the Diamond Certification article. I am wondering if it would be enough to have our local jeweler, who unset the diamond, provide an appraisal, ir at the very least, take a closer look?

 

[sledge]

Good question.

I'd find a reputable appraiser to document her/his opinion on the value.
Pricescope has a list of them, but I can't find it after PS software upgraded last night.

BTW, click on this link and scroll down for info on GIA's various reports.

Diamond Certification: Everything You Need To Know

Diamond certification and grading reports describe a diamond and help you understand its value. Commonly certified by GIA, AGS and IGI.

www.pricescope.com

The other issue might be insuring a loose stone.

Jeweler's Mutual (JM) is a popular jewelry insurer here. As long as the stone is going to be put in a setting I understand it can be insured. However, I would have a discussion with JM and make sure this is correct.

Insuring loose stones while it is being set.

Hello, I have learned so much reading through all the posts on this forum and I am hoping to get some advice and information. I bought a sapphire for about 4K and am getting a ring made by a local jeweler. Because I bought this stone through one of the lapidaries, I don't currently have any...

www.pricescope.com

 

[denverappraiser]

Also, how does one go about placing an insurance value (for shipping to GIA) on an unknown?

Get it appraised.

Bind a policy with your favorite insurance company. Easy Peasy. Well, not really all that easy. Most insurance companies won't bind a policy on an unmounted diamond. People lose them too much. Under certain circumstances, a few will, like Jewelers Mutual, but expect some pushback. The insurance offered by the carriers is tricky. Most of it is crap insurance anyway, but if you don't have decent documentation at the beginning, expect trouble if you ever need to file a claim. The carriers all have limits that are going to be way too low.

For the benefit of readers following this, this is the reason to get the insurance appraisal before it's taken out of the setting and to bind the policy immediately, before anyone works on the piece. Insurance companies insure jewelry, not components. This also causes the insurance to cover the process through the unseting and resetting at the end.

ETA: @sledge and @kenny answered some of this ahead of me. Hopefully I added something useful.

 

[GimmeSomeSugarBakes]

Thank you - to all of you! Extremely useful information.

It is my understanding that insurance policies cover the jewelry while in possession, but the insurance purchased for shipping purposes only is a different animal. Since I do not have a current value for the diamond in question, I am at a disadvantage re: how much insurance to purchase for the sole purpose of adequate coverage during shipping to GIA. I hope that makes sense?

 

[sledge]

Thank you - to all of you! Extremely useful information.

It is my understanding that insurance policies cover the jewelry while in possession, but the insurance purchased for shipping purposes only is a different animal. Since I do not have a current value for the diamond in question, I am at a disadvantage re: how much insurance to purchase for the sole purpose of adequate coverage during shipping to GIA. I hope that makes sense?

Have the jeweler that unmounted the stone provide an appraisal. It will at least give you a ballpark of what you have and is needed anyhow. After you get the stone graded, you could get an updated appraisal if there is variance.

Be sure to read the nitty gritty details of Section 13 of the user agreement. Generally speaking they provide some form of insurance while in their possession. However, there are different terms for shipping to & from them.

Are my gemstones insured while they are in the lab?

Your items are insured while undergoing grading and analysis at GIA. For more details, please view the terms and conditions in the client agreement (section 13).

www.gia.edu

 

[denverappraiser]

Although I agree with the above, you might want to first ask your insurer if they will agree to bind a policy on a loose stone. Some (most) won't.