VS1, Potential?

[grew]

So my parents gave me my great grandmother''s diamond and I went to GIA to get it graded and it came back as VS1 Potential. The Gemologist I talked to said that the flaws on the diamond are all superficial and that if taken to a diamond cutter he/she could potentially make the diamond Flawless. Couple of questions.....

Don''t you risk shattering the diamond every time you put it on the wheel?

Does anyone have an idea of the cost to do such a thing?

The Stone is 3.22 carats and the gemologist said that making it Flawless would reduce the weight but "most likely keep it above 3 carats". I know its probably impossible to guess how much would get cut but anyone have any idea?

Why would I want to do this? I have an emotional attachment to the stone so there is basically no chance of me actually doing this but I just want to educate myself.

Anyway I guess in the process of writing this I made up my mind but I was just curious about everyone''s thoughts on the matter.

Also, How subjective is the color grading? The diamond was appraised about 10 years ago and it was a E grade. GIA has it as a G grade. It seems to me to be a large discrepancy right? I assume it was inflation on the part of the appraiser. Anyway just curious about how subjective it is and whether or not there is a chance you re-submit it for grading and get an improvement in color.

I guess this entire post is an example of a little bit of knowledge being a dangerous thing

 

[kenny]

Which lab gave it the E grade?

 

[grew]

Date: 8/26/2009 3:40:16 PM
Author: kenny
Which lab gave it the E grade?

Not sure the appraisal doesn''t have a lab name

 

[kenny]

Date: 8/26/2009 3:47:00 PM
Author: grew

Date: 8/26/2009 3:40:16 PM

Author: kenny

Which lab gave it the E grade?

Not sure the appraisal doesn't have a lab name

Who wrote the appraisal?
The seller?
Rather is it an appraisal the seller paid for, and provided to you at purchase?

Regardless, I'd believe GIA's G grade.
Sounds like that E grade is an example of soft grading (to put it politely) for the benefit of the seller.

This is exactly why I'd never buy a stone without a report from GIA or AGS.

 

[Rockdiamond]

Hi all!Grew- what shape is the diamond?
IN the hands of an expert cutter, there is little risk of shattering a round ( although the risk does exist it''s minuscule- especially on a VS1 stone)

Regardless of this, I''d be very hesitant putting such a stone back on the wheel. The risks are not all that great, but why take a chance at all?


As far as the color, I agree with Kenny to trust GIA''s grade. Appraisals can be quite arbitrary- some may be quite accurate- others may be soft ( like calling a G an E)
You can re-submit if you disagree- if GIA does change the grade there''s no charge- if they do not you''ll need to pay 1/2 the price of the report.

I''d just enjoy that very cool sounding rock as it is!!

 

[oldminer]

From a consumer's point of view, cutting a diamond is full of risk. However, the "potential" clarity improvment to IF does add a huge bit of theoretical value. Figure a cost of $1000 to recut. It won't be a long way from this probably. Right now at 3.22, the diamond has a near wholesale, retailish value of just under $60K assuming the way the diamond is cut is reasonably good to very good. If the diamond came all the way down to 3.00ct with the recut and became IF, which is not absolutely assured, the theorectical same level of value woulod be close to $85K.
So for an investment of $1K, you have an improvement of $25K, a $24K net increase. Not bad. (I am assuming a round shape, modern cut)

Of course, it is not so simple. There is a risk-reward here. What if the diamond does break when cutting is attempted? What is the diamond worth today just by virtue of the "potential" comment on the report already there? A diamond buyer would be willing to gamble part of the increased value without you taking the risk of cutting. The new buyer would pay part way up the $25K increase and assume the risk as an expert buyer, not as a consumer. This is an experts game and not for the faint of heart or someone unwilling to take a complete loss.

It is nice to know, but much more risky than what I'd suggest you do. When a diamond is worn, there is a chance of slight damage in use, so an IF which is going to be worn likely won't stay IF for decades anyway. VS1 is very good and the "potential" adds a hidden extra value which remains in place cut or left as is for now.

 

[grew]

It is a Pear shape So its probably not going to be worth quite as much as a Round.

I got my hands on the actual appraisal and it was done by a graduate Gemologist who graded it E-G in color so he was spot on (just on the wrong side of what I hoped for).

The Stats are,

Polish: VG
Symmetry: G
Girdle: Very Thin - Thick

Depth: 60.6%
Table: 63%

Measurement: 12.87 x 8.30 x 5.03


Thanks for everyone''s input. Now there is 0 chance of me touching the diamond. Off to the jewelers it goes to get set!!!!

 

[grew]

Thank you so much David, that was exactly what I was looking for.

 

[Rockdiamond]

Date: 8/26/2009 4:46:57 PM
Author: grew
Thank you so much David, that was exactly what I was looking for.

You''re welcome Grew!

 

[grew]

You too other David! this place rocks!

 

[tyty333]

Got any pics??? We would love to see it!