Please give input on cutting a new diamond

[starburst]

Some of you may recall that my square step cut stone has a chip on 1 of the corners. I have been working with my insurance company and they were not able to find a replacement close to what I have. They have however, found a diamond cutter who is willing to cut a diamond to be the same dimensions, color, clarity, as my current diamond, and it will be sent to the GIA to be certified. The catch is that I have to give up my diamond prior to the new diamond being cut, and must live with the stone they give me regardless of whether or not I like the new stone. My reservation is that even if the dimensions/color/clarity/cut are the same as my diamond, isn't it very possible that the appearance may still look different? I fell in love with my current stone because the facet patterns just "speak" to me. The insurance co assured me that "it will look exactly the same." Is this true? They're sending my old diamond to the diamond cutter so "they can get it exactly the same." I will not have the option to get my old diamond back if I don't like the new stone.

Also, I have a hard time believing that a diamond cutter would agree to the exact dimensions/carat weight of the finished diamond before cutting a rough. Say the rough would yield in a stone that's 0.01 ct bigger, aren't they losing potential margins by agreeing to cut a stone to be smaller? I don't know much about diamond cutting, please feel free to educate me on this subject. Thank you PS community for the continued education!

 

[ponder]

I am not a professional, but it sounds like alot of BS coming from someone who probably doesn't know alot about diamonds, let alone cutting them. I would be extremely hesitant to surrender my diamond without an approved replacement or cash in hand. How will you be able to determine if if its an exact replica once you no longer have your stone, if it's even possible to cut an exact replica. Sure the dimensions, angles, color and clarity may be the same, but i doubt every facet will be the same and i suspect that will result in a different pattern of steps.

This option seems like a poor choice for a fancy cut. I would push for cash. BTW Who is the insurance company?

 

[Gypsy]

If you want it recut safely I would insist on BGD evaluating it and recutting it for you. Try that. See if they will agree to use BGD.

 

[ariel144]

If you want it recut safely I would insist on BGD evaluating it and recutting it for you. Try that. See if they will agree to use BGD.

Good idea Gypsy...also would call BGD tomorrow and ask them what they thought of that "deal"...sounds weird to me but it could be really good if they get the right cutter. Interesting. If the ins. company is serious and it could work according to BGD then maybe it is not unusual after all for an insurance company to offer to cut a new stone same as the old.

 

[Gypsy]

Welcome. If nothing else just see if Brian has time to talk. He's a sweetheart and a font of information and he loves to help, even when there's nothing in it for him. Plus they do offer a custom diamond cutting service and they are the only PS vendor that does this.

 

[starburst]

Thank you for all the input guys. Ponder, the cash option is really no option at all. They're offering me what seems less than the wholesale price of my diamond. They pointed out to me that in the language of the policy, it states that they will only replace something for their cost, so basically not a retail value. I asked my jeweler about how they can find a cutter willing to cut a stone for what seems like a ridiculously low price, and he thinks what's happening is what they're offering me as a cash settlement is the wholesale price minus what they salvage from my damaged diamond. I'm embarrassed to say that it's insured with 1 of the bigger well known companies under a jewelry rider. It's not a jewelry specific insurance co. I will definitely pay more attention to my policies going forward. Pushing for cash is not an option at this point, as it is not enough to get a diamond close to comparable value. Even if I find an asscher or a square emerald of similar carat weight, the depth of those diamonds will face up much smaller than my current diamond. Even if the faceup measurements are the same, the asscher will still appear smaller because of the clipped corners.

Gypsy, Ariel, I will contact BGD, hopefully they can answer some of my questions about the diamond cutting process. It does not seem likely that the insurance co will go with any cutter other than the one they have chosen & have an established relationship with. It is very obvious they're trying to settle this at the lowest cost to them, and I have no say in who the cutter is.

My husband thinks I should forget the whole thing and drop the claim, keep my original diamond since the chip is not visible to the naked eye. He knows how much I love this diamond and god forbid whatever stone the insurance co sends back looks "off" to me, I have to live with it forever. I've had 2 jewelers verify that the integrity of the stone is not compromised.