how much does it cost to get a stone recertified by GIA?

[hajimemeshite]

I have a stone with a Nov 2006 certificate. the stone was set in a ring that was never worn. I recently had it dismounted. I''m trying to sell it but jewelers have been saying that it has an old certificate and therefore will sell at a bigger discount...i''m wondering if it''s worthwhile to get a newer certificate even though there is absolutely nothing wrong with the stone...

 

[denverappraiser]

It probably isn’t going to make enough difference for you to justify the cost of the services and the shipping required but their rates are published on the GIA website at www.gia.edu. The rates vary with the size of the stone and the style of report you need and don't forget the insured shipping costs if you don't happen to live in sunny Carlsbad or NYC. In the case of a 2006 report, there may be an issue of the cut grade. That's the year they introduced that so it may or may not have one (and you may or may not want one depending on what it is).

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

 

[Rockdiamond]

+1 to Neil''s post.
I''d also add - don;t expect them to offer a whole lot more with a brand new GIA.
If you''d like to post the specs- and the price offered you might get some input into how fair the offered price is.

 

[hajimemeshite]

The stone is 1.75 carat, E, VVS2, Excellent cut grade, VG polish, VG symmetry, very small culet, and no fluorescence. It''s a high quality VVS2...

I know Rap is $30,625. Jewelers have said that they can sell for me on consignment at 25-26k. I feel that price is too low and would certainly guarantee a sale but I''m not in a hurry so i would much prefer to maximize the sales price...

 

[hajimemeshite]

Neil...i just looked up the fees for grading...it seems to be only $110 for a 1.75 carat stone. I happen to spend my wkends in NYC so i wouldn''t have to pay the shipping charge...thanks for directing me to the site!

 

[denverappraiser]

With a VVS stone, potential buyers are going to be worried about condition since it doesn’t take much to drop a stone into VS1. That said, if you’re in the neighborhood and the stone isn’t mounted, it might be worth your trouble to drop it in. ‘Rush’ jobs done while you wait around cost extra by the way. If you really go every week then I suppose you can drop it off on one trip and pick it up another. Check their dropoff hours to make sure weekends are ok. I have no idea what their hours are but I would expect them to be pretty strict.

Realizing $26k on that stone is doing pretty well. Really well actually. Comps here on PS seem to cost between $26k-$29k retail and there are quite a few available. A thing to remember about looking retail comps; ASKING $29k isn't the same as GETTING it and you have no idea by looking at the raw data how well these things are moving and for whom. Is this $25-26k bid an offer to buy or an offer to consign? If consignment, is the dealers commission coming out of that or on top of it?

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

 

[hajimemeshite]

the 25-26k would be the retail sale price...i would net something less after consignment fees. I get the feeling that on consignment deals jewelers are more interested in sales speed rather than sales price (much like realtors who prefer a fast sale at a lower price rather than a slower sale at a higher price.)

Ideally i would like to net 26k-27k...given that pricescope prices are 27 to >30k.

Btw, this is a very strong VVS2...the inclusion plot is very clean...much cleaner than other VVS2''s I''ve seen.

 

[Allison D.]

Date: 6/28/2010 7:29:24 PM
Author: hajimemeshite
the 25-26k would be the retail sale price...i would net something less after consignment fees. I get the feeling that on consignment deals jewelers are more interested in sales speed rather than sales price (much like realtors who prefer a fast sale at a lower price rather than a slower sale at a higher price.)

Ideally i would like to net 26k-27k...given that pricescope prices are 27 to >30k.

Btw, this is a very strong VVS2...the inclusion plot is very clean...much cleaner than other VVS2''s I''ve seen.

I think this might be a bit overly optimistic.

The secondary market typically isn''t strong enough to bear that slight a reduction from going market prices.

 

[Rockdiamond]

Another thing to keep in mind: If a seller does have the ability to bring in a $29k buyer, how much (little) commission do you think they will take?
Such a seller is likely to incur great expense every month to facilitate such a sale.

For this reason-to get the highest price, you'd need to sell it yourself on craigs list or eBay, for example. IMO

Not that I recommend doing that without considering your own liabilities.

 

[mr_protege]

hi, i just had a stone graded at GIA here in nyc. i dropped it off on a friday morning. the whole process took about 5 minutes. after i dropped off the stone, i created a MyGia.edu account and monitored the stone''s status online. as it turned out, the stone was ready the following thursday, and i picked it up on friday (another 5 minutes). after i picked it up, they emailed me a spreadsheet with the results. you''re also able to order a pdf online of the cert that you could then email to your consignment seller. i just checked their hours and it does not appear that their lab is open on weekends, but if you can drop it off on a friday like one comment suggested, it just may be available the following friday.

hope this helps!

 

[Rockdiamond]

Speaking from experience, the average wait time at the NY lab to submit or pick up is a lot longer than 5 minutes ...I think you got very lucky!

 

[hajimemeshite]

If i get it recertified and sell it on consignment, wouldn''t I be selling in on the primary mkt, rather than the secondary mkt?

btw, i went to a wholesaler today who offered me 24,500 for the stone on the spot...which is 20 back from rapp...he said that he wants to make a "few thousand" for his efforts.

on recertification, what are the chances that a feature of the diamond is downgraded or upgraded? if it is downgraded, do i have the option to rip up the grading?

Thanks everyone for their thoughtful replies!