Question about appraisals/gem reports

[nmk0102]

Hello,
I have been looking through pricescope for a long time now but this is my first post. I apologize if my question has already been answered elsewhere. I wasn't able to find an exact answer through my searches.

I am about to purchase a diamond ring through a jeweler online. The diamond is a 1.91 carat Old European cut, Color I/J, Clarity VS2. It's from early 1900 and the setting it's in is from the 1940's.

The jeweler showed me an appraisal from another jeweler, who listed the above details, and signed the appraisal with a stamp and the initials "PJD" following her name.

Is this sufficient information to buy this ring? I was wondering if I need to get a GIA report, or if GIA certified jewelers are able to generate a report for Old European Cut diamonds. Mostly, I was hoping that the appraisal from the other jeweler would be legitimate enough for me to purchase the ring.

Thank you.

 

[mastercut]

I would say you need a very good, very conservative independant appraiser. Your VS2/I-J stone could be SI1/K or even worse. So a good independant professional is a must.

 

[denverappraiser]

GIA doesn't certify jewelers. They are a college, and lots of jewelers graduated from there (including me) but this is not an endorsement of any kind by GIA. We paid them some money, took some classes, and passed some tests. That's the extent of it. It's a pretty good school and I and others learned a lot from them, but it's just a school.

An appraisal may be sufficient for your needs but make sure it's an appraiser who is working for YOU, not the seller. Best would be if they didn't even know who the seller was. Tiny details make a big difference in this business.

 

[Modified Brilliant]

If you can..get a full money back guarantee in writing if after you get an appraisal from an appraiser that YOU choose, the diamond ring doesn't live up to the original stats.
"Independent" doesn't always equal qualified or unbiased so do some research before hiring your appraiser. Ask questions.

 

[Gypsy]

Hello,
I have been looking through pricescope for a long time now but this is my first post. I apologize if my question has already been answered elsewhere. I wasn't able to find an exact answer through my searches.

I am about to purchase a diamond ring through a jeweler online. The diamond is a 1.91 carat Old European cut, Color I/J, Clarity VS2. It's from early 1900 and the setting it's in is from the 1940's.

The jeweler showed me an appraisal from another jeweler, who listed the above details, and signed the appraisal with a stamp and the initials "PJD" following her name.

Is this sufficient information to buy this ring? I was wondering if I need to get a GIA report, or if GIA certified jewelers are able to generate a report for Old European Cut diamonds. Mostly, I was hoping that the appraisal from the other jeweler would be legitimate enough for me to purchase the ring.

Thank you.

No, it's not sufficient. Appraisers are a dime a dozen. Good appraisers are like finding gold! You need to have an appraiser that is working for you, preferably one that is well qualified and independent like the two that posted here (Neil and Jeff), evaluate the item.

An appraisal evaluated an item and sets a value. I would want an independent verification of the item before I paid for anything. Or right after with a no questions asked full refund return policy in writing. 30 day policy if you can get it.

 

[nmk0102]

Thank you for everyone's response. I have asked the jeweler for a full-refund policy if the ring turns out not be as described.

Where would I be able to find a trustworthy independent jeweler/appraiser? Is there a database or website recommended? (where I would be able to search for one in my area).

 

[Regular Guy]

Thank you for everyone's response. I have asked the jeweler for a full-refund policy if the ring turns out not be as described.

Where would I be able to find a trustworthy independent jeweler/appraiser? Is there a database or website recommended? (where I would be able to search for one in my area).

NMK,

Combine this list...

https://www.pricescope.com/appraisers

found above under resources, with a search on the targeted appraiser for feedback here on Pricescope.

The list is slightly vetted. Probably all are independent. Some are never mentioned, and some mentioned a lot.

Some even post here directly, so you can read their "tone" for yourself.

Ira Z.

 

[nmk0102]

The jeweler has responded that she is not willing to offer a refund if the report shows differently, unless it is 2 or more grades different in color or clarity.
She stated that she is a small business so she cannot afford the no-questions-asked returns policy.

I am still considering buying the ring anyways since it is a good deal. As I mentioned before, the ring is a 1.91 carat Old European Cut set with 4 round diamonds (.12 CTTW), Clarity VS2, Color I/J, 18 kt gold. The ring is being sold for a little less than 10k.

Do you think this is still a risk worthy of taking?

I have done quite a bit of research on the seller and she is very dependable and has many reliable positive reviews.

 

[diamondseeker2006]

I always assume that antique stones are optimistically graded! So I'd look at diamond prices for K-L color and SI1 clarity and see how they compare. I do not like not having a no questions asked return policy, though.

I'd use Neil or Jeff for the appraisal because I think they are probably used to picky PS members and do a thorough, reliable job! But check to see if there is someone local on the list, too!

 

[kenny]

Instead of using any appraiser I'd have the stone unset and sent to GIA or AGS for a full grading report.
The cost will be not be that different, and the cost of either is insignificant compared to the purchase price, but the GIA report will carry MUCH more weight.

If the seller won't cooperate I would not buy it.

 

[diamondseeker2006]

Instead of using any appraiser I'd have the stone unset and sent to GIA.
The cost will be VERY similar, both insignificant compare the purchase price, but the GIA report will carry MUCH more weight.

If the seller won't cooperate I'd not buy it.

The problem with that is that the diamond would have to be removed from the ring, and I can understand why the seller might not like that. Also, I was recently told that GIA is currently taking about a month to do a report which is probably longer than he would be allowed.

 

[kenny]

Instead of using any appraiser I'd have the stone unset and sent to GIA.
The cost will be VERY similar, both insignificant compare the purchase price, but the GIA report will carry MUCH more weight.

If the seller won't cooperate I'd not buy it.

The problem with that is that the diamond would have to be removed from the ring, and I can understand why the seller might not like that. Also, I was recently told that GIA is currently taking about a month to do a report which is probably longer than he would be allowed.

No problem.
The deal's off AFAIC.
You or the OP may differ.

Diamonds are very expensive and the price can vary tremendously based on grades that are not obvious to my eyes.
A good appraiser discloses that his/her ability to call the clarity and color can be hindered by the setting.
That they would issue grades at all on set diamonds of one thing that turns me off to them.

Price depends on what it is.
Being as sure as possible of what it is means a GIA or AGS report.
IMHO they minimize risk with my money when buying diamonds.
You may be more risk tolerant, or more seduced by and hopeful of a "good deal".
I'm happy to pay the full price for what I'm sure it's worth.
People vary.
There is not one right way that applies to everyone.
Operate in your comfort zone AFTER getting fully informed.

 

[Rockdiamond]

I am extremely leery of money back guarantees that are dependent on grading.
THe money back guarantee needs to be for any reason for it to have any teeth at all.

Furthermore, small businesses today need to offer such guarantees to remain competitive- so in essence, the restrictive policy is what's costing money- or the seller does not possess confidence in their own item's desirability.

I can understand not wanting to remove the stone for grading- but not the lack of money back guarantee...

 

[nmk0102]

Thanks to everyone for their opinion/advice.

I have decided not to purchase the ring on the basis of the no-return policy. Time to keep searching for another ring!