Help with a few questions regarding my Polar Bear Diamond

[upnorth15]

Hello
I purchased this diamond a number of yrs ago. It was a loose diamond and I had it mounted into a platinum band. After the setting was done an inclusion was effecting the stability of one claw. I decided by recommendation to have it polished off. I was told this resulted in a better colour and an increased value of the diamond. The second appraisal was approx 2000 higher.
The original size was 1.730c and the resulting size is now 1.67c.

Store Trace Number 01-00-4024
One stamped platinum cast 4 prong ring with a knife edge with a bright polish finish. Condition is excellent. Identified with markings of PLAT. containing:

One claw set radiant shaped cut diamond, Measuring 6.66 x 6.57 x4.85mm (depth est) exact weight 1.67ct. This diamond has 97% light return and is rated EX/EX/EX. It is a Polar Bear Canadian diamond and is laser inscribed with NWTI-18372

Clarity SI-2, Colour F, Cut Ideal,
Total retail value 23075.00
Platinum @ 1773.56

My questions are
I have heard the mine where these diamonds came from is closed. Does this increase the value of this diamond?
My Govt. certificate says 1.730c so I'm assuming this certificate is null and void??
Does the appraisal look accurate?
If I decided to sell this diamond should I expect to be paid appraisal value?

I'd appreciate any help you can give me. Suggestions or comments. Thank you!!

 

[canuk-gal]

Re: Help with a few questions regarding my Polar Bear Diamon

HI:

So after the repolish, am I to understand you did not have it recertified (vs. reappraised) to reflect the new parameters? (weight, and color or clarity)?

cheers--Sharon

 

[upnorth15]

Re: Help with a few questions regarding my Polar Bear Diamon

Hi Sharon
Yes the appraisal you see is the second appraisal based on the after polish. The original size was 1.730c and the size now is 1.67c.

 

[queradas]

Re: Help with a few questions regarding my Polar Bear Diamon

After the setting was done an inclusion was effecting the stability of one claw.

What kind of surface reaching inclusion?

I decided by recommendation to have it polished off. I was told this resulted in a better colour and an increased value of the diamond. The second appraisal was approx 2000 higher.

I hope the appraisal was not from the guy who recommended the repolish, did the work, or sold you the stone. In most cases an appraisal isn't worth the paper its written on. An non independent appraisal is worth even less. A GIA grading report trumps any appraisal.

My questions are
I have heard the mine where these diamonds came from is closed. Does this increase the value of this diamond?
No not really, while there is a niche market for Canadian Mined Diamonds, I doubt it really increases value much in the secondary market if you were to try to sell it
My Govt. certificate says 1.730c so I'm assuming this certificate is null and void??
Not null and void but needs to be updated.
You would need a new GIA grading report.
Does the appraisal look accurate?
No way to know for sure but its unlikely it would increase the value like they claim. Its a "feel good" appraisal.
If I decided to sell this diamond should I expect to be paid appraisal value?
Almost never. You buy Retail and sell wholesale. The only way you make back your money is if diamonds have increased in value significantly over the time you held it. Buying a similar diamond today a rough range is $6000 - $12000 USD depending on the GIA report for the centre and very little for the setting, lets add another $1000 generously for it. That would be best case new from a dealer, you selling it back to a dealer would get much less probably 50% - 75% of that value at best or maybe 80 - 85% if you could sell it yourself to a consumer or on a good consignment deal but those are best case percentages not the norm.

I'd appreciate any help you can give me. Suggestions or comments. Thank you!!

Help with what selling it?