looking to get rid of round

[lobsterboy_98]

Does anybody have contact details or possible help with someone who could cut a diamond and re-grade it? Mine is a longer story but i have a 1.53 round cut (Si2, I, 7.45x 7.49x 4.49, depth 60.1, girdle thin-sl, thick, culet very small, table 60.1, finish - good) with a natural inclusion which is on the girdle that could possibly be cut out without going below the 1.50 size. I would like a professional opinion on this. I am trying to purchase a different diamond for a new relationship I am in. I have a real dilemma here. I bought this from "Spence diamond" with their trade-up policy 10 years ago and they knew about this natural inclusion without telling, they have the trade up - trade in policy. Spence is of course giving me the "full value" of my first purchase, or so there telling me, however there trying to sell me a 14k loose stone that I know I can buy for 8k from dealers here. So basically they're trying to fleece by marking up the new purchase almost by 100%.

I am thinking of having a professional re-cut the round to bring the value back in the diamond to potentially sell. Currently any other place would pay me $2500 for this stone because of the inclusion. Any thoughts? Help?

 

[stone-cold11]

Check with Brian at BrianGavinDiamonds. He does recut but he would want to see the stone unset before making commitment.

 

[kenny]

An SI2 probably has more inclusions than a natural on the girdle.
Sure there are small naturals and large ones but I have a GIA VVS1 and the only inclusion is a natural on the girdle.

Who graded it? GIA? AGS? Other?
This is important.
If a soft lab graded it SI2 then GIA may grade it I1 or I2.
If it has no lab report at all and the seller called SI2 that "grade" is even more suspect IMHO.

Polishing off the natural may not increase the clarity grade much.
Also polishing carries risk.
It can explode on the polishing wheel.
If it does it is 100% YOUR loss.
Cutters take precautions but loss is possible and it is your risk.

 

[minmin001]

the reason it's a 1.53 and not excellent cut is because the cutter wants to keep it up to the 1.5ct price bump, if you want to recut it for a better cut stone, you are very unlikely going to get a 1.5ct back

 

[denverappraiser]

Why do you want to recut it?

It's nearly certain that this is going to cost a fair amount, it comes with a certain amount of risk that it won't come out the way you want and it's unlikely to have a significant affect on either the sales price, the speed of sales, or even who the potential buyers are. Put some thought into your strategy for selling it as it sits. You may or may not want to do the tradein but I wouldn't suggest the plan B be a recut.

 

[lobsterboy_98]

wow, thanks for all the imput. It would seem that I might be SOL.

I do not have an offical GIA report. This inspection was done by Spence Diamond. I shouldn't have bought his diamond back in 2001.

 

[kenny]

Live and learn.

I'd remove it from the setting and ship the loose stone Registered mail to GIA in New York or Carlsbad California for a full grading report.
Call them first for instructions.
You can do this yourself; you don't have to go through anyone you have to pay such as a jeweler or an appraiser.

Then list it for sale on one of the many places online.

It will cost you $110 plus shipping for a 1.53 ct diamond, but selling it with a GIA report will be much easier than without one.
Plus, I personally wouldn't give you anything for a used diamond with no reputable lab report.
Price depends on what it is, but without a report from a credible lab nobody KNOWS what it is.
I think you will easily recover your $110.

http://www.gia.edu/lab-reports-services/diamonds/diamond-reports/index.html
Click on Fee for Services

 

[maplefemme]

wow, thanks for all the imput. It would seem that I might be SOL.

I do not have an offical GIA report. This inspection was done by Spence Diamond. I shouldn't have bought his diamond back in 2001.

Not quite SOL, you have options, but they are limited.
"If" you trade up with Spence I would not settle for anything less than GIA or AGS graded, do not let them talk you into an in-house graded stone again.
To get it recut you are taking the risk of loosing everything if it shatters on the wheel, they can't promise you it won't. The risk is small but still there, especially with the grade of your stone, it could be a higher risk depending on the size, nature, and location of the inclusions.
Also, the costs involved to get it graded and recut, you might not come out any further ahead financially.
I have nothing good to say about my local Spence. Last year I ended up speaking with their manager because their "diamond specialist" was lying to me and was highly unethical. He acknowledged it profusely apologized for his employee's behavior but it shattered all trust in them.
I wouldn't touch anything without a reputable grading report, I'd send to GIA (unset) and get it graded first before moving forward in any direction.

 

[denverappraiser]

There are 2 issues. First, what is it? Second, what is the best way to sell it? These are not the same things. I"m not sure starting with GIA is the right path for either of those. YOU may not consider an off-brand grading, and I recommend against it for nearly everyone as a buyer, but a GIA/K/I1/Fair is a nearly unsaleable item while an EGL-USA/I/SI2 with no cut information at all would sell MUCH better, even in the face of resistance to the EGL branding. This is a classic example of where I would recommend starting with a qualified independent appraiser where you can discuss the topics and can then design a marketing strategy based both on what you have and your own temprament for this sort of thing. You may very well end up at GIA but it's not a slam dunk and some professional advice would be very helpful. You might even end up recutting first.

 

[oldminer]

If the real GIA grade is I-SI2 the diamond is worth quite a bit more to me and to other real buyers than 2500 bucks. The problem is that you really only know what you have been told and not what the correct grade actually is. Unlike Kenny, dealers in these things do buy diamonds with no documentation for what we believe the grade will be at GIA. Since we and others have this kind of expereince it poses little risk for us to put money up and gamble in this rather safe way. It isn't safe for a consumer, but for diamond folks, not much of a problem..

The liklihood of you having a diamond recut and only lose 0.03ct and have that tiny alteration materially change the value is nil. Don't believe in that kind of fairy tale. It can't happen. In all liklihood, the diamond, if properly recut to really good proportions will weigh quite a bit less than 1.50cts. All dealers will figure this way unless the stone might be worth more as a 1.50ct left more or less as-is.