Should I send this to GIA?

[MarionC]

I have put this ring up for sale and someone asked if the diamond is certified. It isn’t. Am I making a mistake by setting a price without getting an expert opinion on the center stone? I set a low price, but was OK with that because I would love to have someone buy and enjoy it, but now that the buyer has brought up GIA I am now concerned that I might really just be giving it away.
Then again, by the time I send it to GIA and possibly polish the girdle and consign it, I might not do much better price-wise.
Thoughts???

 

[denverappraiser]

What do you think it grades out at? How big is it? What is your current source for this?

Fundamentally, this is an issue that dealers contemplate every day. GIA costs money. It involves shipping and insurance as well as pull and reset expenses. It takes time. All of that can add up. On the other end, buyers like it and it ‘greases the wheels’ a bit. Sometimes things sell faster with more paper.

Usually, it’s a financial question.

If you are asking more than a few thousand dollars for the stone and you're planning on selling it to a consumer, yes you should have it lab graded.

If you think it’s natural Fancy and you’re asking a premium for that, you probably should be prepared to back it up with a GIA. Similarly, if you're defending a grade better than, say, VS1 and the price depends on it, you'll find this much easier with GIA paper.

You mentioned polishing the girdle. Is it damaged? Why do you want to polish it?

You mention consignment. This sort of question is fundamentally what you’re paying the consignee for. Have you asked them? What did they tell you?

Have you had the piece appraised and did you ask the appraiser questions about resale?

 

[MarionC]

What do you think it grades out at? How big is it? What is your current source for this?

Fundamentally, this is an issue that dealers contemplate every day. GIA costs money. It involves shipping and insurance as well as pull and reset expenses. It takes time. All of that can add up. On the other end, buyers like it and it ‘greases the wheels’ a bit. Sometimes things sell faster with more paper.

Usually, it’s a financial question.

If you are asking more than a few thousand dollars and you're planning on selling it to a consumer, yes you should have it lab graded.

If you think it’s natural Fancy and you’re asking a premium for that, you probably should be prepared to back it up with a GIA. Similarly, if you're defending a grade better than, say, VS1 and the price depends on it, you'll find this much easier with GIA paper.

You mentioned polishing the girdle. Is it damaged? Why do you want to polish it?

You mention consignment. This sort of question is fundamentally what you’re paying the consignee for. Have you asked them?

Thanks for the indepth reply. The diamond is 6mm, internally very clean (one minor inclusion that I can’t find under 20x) and the flea bites are very minor.
I know you can’t give monatary advice, but to be informative, the setting was 2000 (with tax and setting labor), and the stone was just under 900. I was asking 1200 for the whole thing, but now I am not so sure because I did a diamond search and similar stones seem to be going for much more.
I would like to keep things simple, but don’t want to think later that I may have put on too low a price just to avoid complications! : )
I have not consigned it yet.

 

[denverappraiser]

6mm is about 0.80cts depending on the accuracy of your measurement and a few other things.

No, I probably wouldn't GIA it. Assuming you're not in Carlsbad or NYC, GIA is going to cost you $79 plus two directions of insured shipping, say $50 each ride, plus someone to pull and reset it. Guessing $50 for that. $229 all in, and probably a month of messing with it. That's nearly a quarter of your money! What difference will it make if your color is M or Q? That's a $100 question. VVS2 or SI1? Another $100 question. What could GIA tell you that's worth $229 (plus some extra for your trouble)?

Normally where you see the most resistance on this sort of thing is with the mounting. Used engagement rings don't generally sell well for symbolic reasons and it becomes a recycling project. Gold and gems recycle just fine. They take the center diamond out, make whatever it is that they really want, and recycle the gold through a refinery. For resale, the small diamonds are worth less than it costs to get them out.

What were the parameters you used in searching for a similar stone?

 

[MarionC]

It was a right hand ring and is almost new (and has not been worn since set with the OEC), so hopefully that would not be an issue. The loose weight was 0.90ct.
Thanks, I believe you have given me my answer!

 

[denverappraiser]

It looks like two bands soldered together at the base. If that's the case and you're going to be selling at retail (meaning to a consumer), you might consider separating them. It will look less like a wedding set.

Best of luck with it!

 

[MarionC]

It looks like two bands soldered together at the base. If that's the case and you're going to be selling at retail (meaning to a consumer), you might consider separating them. It will look less like a wedding set.

Best of luck with it!

It is two separate rings : )
Thanks!!

 

[Bron357]

I would be inclined to get a written appraisal from a Gemologist while set.
This isn’t as good as a GIA report of course but it is a lot better than having no documentation.
For the price you are asking that would be a fair level of supporting documentation for a potentional buyer.

 

[MarionC]

Thanks, Bron. Does it help that I have the original paper work & documentation for both the setting and the diamond?

 

[Bron357]

Thanks, Bron. Does it help that I have the original paper work & documentation for both the setting and the diamond?

Yes, that would be satisfactory.
I would however increase the price to $1500 so people can “bargain” it’s a psychological thing!
Of course there will be people who think they need a GIA report, you can just say “yes I considered that however the cost of doing so and unsetting and then resetting the centre diamond would add another $400 or so to the price and I thought that an unwarranted additional expense for a $1,500 ring.

 

[LLJsmom]

@Jimmianne This is coming from a person that likes full disclosure. I think you should send it because it is good to know what you have. But I understand why you wouldn’t. You’re probably selljngbtnat a great price.

 

[MarionC]

@Jimmianne This is coming from a person that likes full disclosure. I think you should send it because it is good to know what you have. But I understand why you wouldn’t. You’re probably selljngbtnat a great price.

Thanks, LLJs. Grace had the same opinion.

 

[Lisa Loves Shiny]

I had a hard time quickly selling my 1.08 I/VS1 Transitional cut diamond ring without a GIA report so I obtained one. I think time is an issue in how long you are willing to wait for the right buyer to come along. A GIA report will probably speed things up for you, and you will probably get more for the ring with one, but it may not be anywhere near what vendors are able to sell similar diamonds for. I think your ring is lovely and the price is great. Good luck in your decision and your sale.

 

[Matilda]

I think perhaps you may want to increase your starting price a tiny bit .... I agree with @Bron357 . Also as it doesn't have a certificate such a low price would seem suspicious to a potential buyer...too good to be true kind of thing. Good luck it is stunning!!

Oh a cheaper option and faster one could be to get it appraised...obviously not as good as GIA but it would be of reassurance to the buyer of the weight, colour, no treatment etc..