How to assess re-cut prospects?

[kindred]

I posted asking if I should have a L/M diamond set in white or yellow gold in this thread, and the issue of a possible re-cut for my stone came up. I decided to start a new thread for that topic, because I have so many questions about it.

The diamond is about 2.4 carats but it faces up smaller and I think that''s due to a deep cut. A jeweler told me they would be worried about putting it in certain settings because it has a thin girdle. This stone was actually already re-cut around 30 years ago. I was told that it was probably originally an old mine cut. Does any of this preclude it from being a good re-cut candidate? If not, who would I go about sending the stone to for an assessment? An independent appraiser or directly to Brian Gavin or someone else?

This whole issue makes my head spin because I would need to get an appraisal and insurance before mailing it off to someone. The out of date appraisal I have lists the value way too high when I compare it to the ''Pricescope your diamond'' tool and I am afraid it will be appraised too high again if I take it to a local appraiser (I do not have an independent appraiser in my state). I am afraid of overpaying for insurance based on an overly high appraisal value. Do I end up paying for two appraisals (I have thought about sending it off to Richard Sherwood)? If I insure the ring using a higher appraised value, can I get the insurance company (I''d probably go with Jeweler''s Mutual) to lower my rate if I later get a more realistic appraisal? Am I right in thinking that I can get insurance to cover the diamond while it is being re-set but not re-cut? This is so much to think about and I am really not sure what my next step should be.

I am sorry this got so long. I hope it makes some sense!

 

[jet2ks]

I can''t help on the insurance, but I can tell you that the best person to evaluate the possibility of a re-cut is the cutter. Brian Gavin would be a awesome choice.

 

[Lorelei]

Date: 7/1/2009 9:32:31 PM
Author: jet2ks
I can't help on the insurance, but I can tell you that the best person to evaluate the possibility of a re-cut is the cutter. Brian Gavin would be a awesome choice.

Ditto.

You might be able to get insurance for setting, I was reading up on this recently and I think www.jewelersmutual.com might offer this but I am not 100% sure.

For a recut though I don't think any insurance is possible, the owner of the stone has to take the risk.

 

[oldminer]

It will cost you several hundred dollars to recut the diamond. If it is a deeply cut stone then it likely will be close or below 2.00carat when re-cut to excellent proportions. Making it fall under 2.00ct will likely create a loss of value although it may have a wonderful look to the finished diamond. Can you live with it being less than 2.00ct?

Take the current minimum diameter of the diamond right now in millimeters. Measure it to at least 1/10 of a mm with accuracy. Take 61% of this mininum diameter and multiply this by diameter squared and then multiply the result by .0061. This will give you a clue as to what the final diamond might weigh if fully recut to reasonably fine specs.

For sure, you can have a cutter make the best possible re-cut to keep the diamond over 2.00ct. It may not then be ideally cut, but may be a large improvment. This needs the eyes of a skilled cutter to make such a recommendation as to what they can do.

This is not iron clad and not a promise, but a rule of thumb that suits your deep make stone.

 

[denverappraiser]

The usual reason for recutting a stone is to repair damage, improve the quality of cutting, improve the clarity and/or to change the face up color. Usually this is about improving the ‘value’ or to increase the salability of a stone although sometimes it’s just because the owner will like it better if it’s altered done. All of this is balanced against the expected outcome and the risks associated with getting less than was hoped for. A few appraisers and a few jewelers have experience with this but most do not. It’s a job for a specialist.

No insurance company I’ve ever heard of will insure the job against results that are less than expected and I know of no cutters who will guarantee a particular outcome.

If you are considering a recut, talk to a pro.

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

 

[Richard Sherwood]

Although I do recut analysis, I would recommend just sending it straight to Brian and then having it appraised afterwards.