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Appraisal Question


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#1 donedating

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Posted 09 October 2010 - 05:40 PM

Hi.

My girlfriend and I have been looking around at rings and trying to do our research.

However, I have an interesting alternative to the standard jewelry store online purchase.

40 years ago, when my parents got engaged, my dad bought 2 rings: A one carat for the engagement ring and a two carat for an investment. The two carat has since been mounted in a ring (he says to keep it from getting lost though he mentioned my mom would wear it to work from time to time.)

So Ive asked my dad about the ring, and he is willing to sell it to me for whatever it appraises for. Im wondering what are my options as far as appraisals? Do I just walk into my local jeweler? Ive heard rumors that less than honest appraisers will switch out nice diamonds for lesser ones in the backroom... any truth to this? Should I be worried? He says he paid 4000 for the stone back in the day, which an inflation calculator says would be ~25k today. Any advice on appraisals would be appreciated.

Id also be interested in getting the ring GIA certified (or something) to find out the specs. Any insight as to how I go about this? I cant imagine you send these things through the mail, so I guess the must have physical locations?

Anyway thanks for any info. If the ring really is worth 20k+ this is quite a bit outside the range of what I have been looking at at the jewelers, but would consider it since it is keeping money in the family. Also maybe I can sweet talk him down a bit.... :)

EDIT: Just read the GIA cert requires the stone be unmounted. Can rings be insured if they are not GIA certified? How can I know the exact color, clarity, etc...

Hmmm.. Just realized that perhaps it has already been certified back in the day...

Edited by donedating, 09 October 2010 - 05:48 PM.


#2 LaurieH

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Posted 09 October 2010 - 06:34 PM

First:

Yes, you can insure anything no matter if it's certed, non certed, etc....you get an evaluation and your insurance company will accept it or not.

As far as GIA--yes, you will have to have the diamond un-mounted in order to have it graded and certified. There is no way to accurately grade a mounted stone, because inclusions may be "hiding" under prongs, you can't accurately tell the color b/c there is contact with metal, the color of which can refract through the stone, etc, etc. So this insures the best accuracy.

NOW--to your appraisal. You can speak to an appraiser and ask that they NOT give you an appraisal for "retail replacement value" but rather for what the cost would be to purchase just that diamond. I would actually recommend having this done AFTER you have had the diamond unmounted and graded by GIA if you wish to go that route. Even if it was certified "back in the day", I'd still suggest having it regraded (if you're talking about a round) since there have been recent-ish changes with the addition of a Cut Grade--this way you will more accurately be able to compare "apples to apples" in your research comparing your diamond to the cost of others in the marketplace. Then once you know exactly what you have, you can at least look online (if not also with your local jewelers, etc) and get an idea of what that diamond would cost to buy it. You could also then use that information to go to your appraiser, and show them, and ask for the cost appraisal to be somewhere in that ball park.

Lastly, to counter the worries about a jeweler switching out your diamond: Of the gazillions of jewelers and jewelry store employees in the country and the gazillions (ya know, rough numbers and all) of customers that patronize these jewelers, stuff like this happens about once in a blue moon. Jewelers have more going on than to have the time to find an approximate match to your stone in a fake and make the switch, not to mention they're not going to risk their businesses and reputations to do it. I'm sure there's an unscrupulous jerk in the mix here and there through the country, but you're really talking about a needle in a haystack. The chances that this will happen to you are pretty close to nil.

IF, however, you still want to sweat the chance of this happening, you have a couple options--
1--first and always ANYWAY, go to a reputable jeweler/jewelry store.
2--if you're going to have your diamond certified, go ahead and spring the extra $$ for a LASER INSCRIPTION. What this means is that while the diamond is at GIA being certified, it will have a teensy tiny laser etching (visible under appox 30x magnification) in the girdle with the corresponding GIA cert number and/or any inscription you choose. This means that any jeweler, or yourself, or any friend with a microscope or a really good loupe, can look at that number at any time and make sure that your diamond is your diamond. The inscriptions is so tiny that there is nothing about it that will ever interfere with the appearance of the diamond. If you CAN'T find your inscription(s) once the diamond is set, do not fret. First look to make sure the jeweler didn't accidentally set it under a prong, and if they do, you can ask them to loosen the setting and rotate it slightly so it's free to be seen.
3--Also, since the size of your diamond is over a carat, unless you opt for a half-cert/dossier, you'll have a plot made of the diamond's inclusions. This you can look at the plot, and then look at the diamond through a loupe or under a microscope and compare the type and location of the inclusions to the coded inclusions on the cert, and verify it's your diamond. No two diamonds are ever alike so the plot of the inclusions essentially acts as the diamond's "fingerprint"

I hope my long, rambling answer has helped to set your mind at ease and help you some. Good luck with all the decisions you have to make ahead of you and congrats in advance! (and here's hoping your daddy gives ya a good deal, whatever comes of the appraisal :) )
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#3 davidelevi

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Posted 09 October 2010 - 07:02 PM

Appraisal: nothing wrong with that - just make sure the appraiser knows that the appraisal is for a private sale, not for insurance replacement purposes. This will (or should!) significantly change the value appraised. Don't use a jeweller - many have no idea of what a reasonable private sale value would be, and all have a vested interested in pushing you off the deal so you will buy a "new" stone. In terms of honesty/switching, I don't see any reason why the appraiser should not be willing to examine and appraise the ring with you (and/or your father) present at all times. I suspect the tales of stone switching are greatly exaggerated urban myths anyway, and switching would require several hours if not days to find a good match in terms of stone size and looks, not to mention re-setting - which if it is not to look like a dog's breakfast takes some time, and is not something that one can pull off in 3 minutes in the back of the shop.

Value: pretty tough coming up with a value simply based on a carat weight and an original purchase price. While it's possible that on average diamonds' prices have inflated at the same level as the average RPI, it's unlikely your particular one has. 40 years ago diamonds were on the brink of a speculative bubble, and a few months of difference in purchasing may have made a lot of difference; same goes for where the diamond was bought, since competition was distinctly less aggressive then, and much greater differentials applied from store to store. Also, fashions change in diamonds as well as everything else, and what was popular then may be distinctly less so now - all to your (if not your father's) advantage. One more reason for employing a good appraiser.

GIA: excellent idea. Don't be scared about the unsetting/resetting, as long as you have a good jeweller that is willing to do the work (and get paid for it). As to shipping, USPS registered mail is pretty safe, and can be insured up to $25k. Most jewelers send "normal" things via courier (although they will be usually covered by business insurance), unless the item really is valuable (say $100k+), when specialised courier firms like Brinks will come into their own. Call GIA and ask them how they would handle delivery from your location, or ask the appraiser to help. GIA also offers a "mounted jewelry report", which is slightly less useful than toilet paper, since it's laminated and too stiff to be used like toilet paper, but it does carry the GIA name and stamp.

Insurance: you don't need a recent GIA report for that; if anything, the appraiser could be asked to help with two appraisals (and a hefty discount on 2x the price), one for resale, the other for insurance purposes. Part of the value of a recent GIA report is in that you can be confident that - should you ever need to call on the insurance - you will get a replacement of your diamond that is fairly similar (at least in terms of colour and clarity) since you can ask the insurer to cough up for a GIA-graded stone; simply using the appraiser's input - however accurate - runs the risk that you get something that somebody somewhere is willing to call with the same grades as your stone.

Old report: unless the diamond has been kept in a safe for 40 years, a regrading may be useful, since even a small chip can change the clarity grade significantly. And in 40 years there have been a few advances, for example in the evaluation of cut.

ETA: cross-posted with Laurie's answer. But at least you are now getting two people rambling on about the same things. ;)

Edited by davidelevi, 09 October 2010 - 07:05 PM.

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#4 denverappraiser

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Posted 10 October 2010 - 05:36 AM

I agree with the above that GIA grading is a good idea and yes, people send things through the mail. USPS registered mail is secure, well insured and reasonably fast. GIA has physical locations in NYC and Carlsbad California and a few overseas if you want to hand carry it. They’ll do business directly with you if you like or you may want to make a deal with your appraiser. Details at www.gia.edu. It’s necessary to take it out of the mounting for reasons described above and your appraiser should be able to help you find someone to do this as well. This is also the time to inspect for pre-existing damage as it may be possible to repair it before it goes into the lab. Grading is a big big deal and I wouldn’t consider buying a diamond for even a quarter of that budget without using a reliable grading source unless you are personally an expert, and maybe not even then. In the case of a family deal it’s even worse. The possibility of developing bad blood between you and your dad if one or the other of you feels screwed in the deal after the fact is significant and disastrous. Choose GIA and nothing else. Nearly all 'investment' deals are bad, and nearly everyone who gets involved in them goes away unhappy at the end. Don't let this unhappiness be directed at YOU.

Your risk of the jeweler stealing your stone is really quite low but, if you’re worried, this is a covered loss under most policies. Here’s a path that has next to zero risk and protects both parties. Get it appraised in it’s present condition – get it insured – have the stone removed – send it to GIA – get it reappraised based on the new information from GIA – do the deal (or not) – Get it mounted in the new ring or remounted into the old one – get it reappraised AGAIN to include the mounting and the new owner – get it reinsured in your own name.
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#5 donedating

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Posted 10 October 2010 - 08:23 AM

Thank you to the three of you for the quick responses.

I really have no idea what to expect in terms of value. Talking to he and my mom, it seems they were meticulous in finding exactly what they wanted, and my dad refers to it as though it were a D, VVS1 (exaggerating here, but he makes it sound top of the line, speaking of yellowness and inclusions with disgust :lol:). I think he said its a brilliant cut.

Hopefully over the next few months, I will uncover a bit more of the information discussed in the previous posts, and Ill share it as it comes along. Unsetting it shouldn't be a problem since I already had a design of my own in mind (4 tiffany style prongs with the cartier style horizontal cross piece) and have no idea how beautiful or hideous my parents choice was.

Any recommendations for appraisers in the Philly area (either in the city or nearby) ? I find jewelers row a bit overwhelming as I dont know one from another, but would love a word of mouth recommendation.

Edit:Hmmm I tried to give you all positive votes, but it says I reached my quota for the day... apparently my quota is zero!!!

2nd Edit: Ive gotten a bit more information out of him: apparently a friend who was a jeweler recommended he buy it and that it was "a good stone." He has no certs or background on the grade or anything... to me this suggests that it is probably more middle of the line, certainly not a D, VVS1 that I alluded to previously. He was pretty impressed with all the information that had been provided here and thinks the laser inscription and the diamond map are pretty neat. Thanks again, and Ill keep updating as the info comes.

Edited by donedating, 10 October 2010 - 09:06 AM.


#6 denverappraiser

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Posted 10 October 2010 - 10:46 AM

Chris DiCamillon is a well qualified and ethical appraiser in Philly. www.gemappraisers.com

If you're serious about buying this, I even more emphasize that you send it to GIA for grading and inscription (at your dad's expense by the way). Even if you don't do a deal it'll benefit him when he finally decides to unload it. I'm sure Chris can help with the logistics of the deal.

Edited by denverappraiser, 10 October 2010 - 10:47 AM.

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#7 davidelevi

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Posted 10 October 2010 - 02:00 PM

Particularly if there is no reliable grading, then please do get it to GIA. The risk of either you or your dad getting a poor deal (from each other, or from a third party) is not worth the ~$300 that shipping, insurance on the shipment, grading and resetting will cost.

Thanks for the "positive vote" idea; I don't think the system works, actually, but the thought is appreciated.
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#8 donedating

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Posted 10 October 2010 - 03:23 PM

I definitely plan on getting it GIA certified, and he has agreed as well. Even if I dont end up buying it from him, Im terribly curious.

I actually saw it today, though I wasnt able to inspect it well since both my dad and girlfriend were there making things incredibly awkward. No huge black specs visible from above, but not sure what is being hidden by the setting.

A few more questions...

1) I checked out the website provided above (Thanks!!) , the appraisal cost for the first piece (175) is about the same as the GIA cert with inscription would cost (178). I was surprised by this. Is 175$ standard for an appraisal? I I would expect that the GIA process would be 2-3x more expensive since it seems it would be more exacting with the maps and whatnot..., so just figured Id follow up to be certain.

2) Also, I was in a store once where they cleaned a diamond by blasting it with what I think was just steam. Is this a standard practice or is there more to it than I am aware? The reason I ask is the stone looked a little grubby to me, and I dont know if this is a cleanliness issue or actually the color/imperfections of the stone itself. Obviously an appraisal would tell me ultimately, but just curious in the meantime.

3) Finally, a question of preference to you each as individuals... during my initial research, the GF and I kind of decided on what we both would be interested in and it came down to a Brilliant VS1, H-I, 1.25-1.5. I realize this is all a very personal thing, and its whatever makes you happy and all that... Unfortunately there is a bit of male ego involved for me, and while we are very very poor now, hopefully one day we will be less poor, and I dont forever want her to have a typical grad student ring.(In the past she has stated a preference to marry sooner with a much lesser ring, but I find this to be unacceptable: job first, engagement second). Many of our friends have done this, though I find it a bit off that in 5 years they will ultimately purchase flat screenTVs that cost more. So I guess my question is: as diamond professionals/enthusiasts, what do you personally find as a good balance between cost and quality (ignoring size). Presuming that love is not totally blind, and that one wouldnt give there fiance a diamond with huge black specks in it simply because they could get it somewhere for free. I have trouble getting a good answer because my friends are as naive (and poor) as i am, and the jewelers iin the stores that i talk to always seem to conveniently agree with me and I am uncertain whether this is really what they would do or if the "customer is always right".

I really appreciate your responses, I sometimes post in other forums where I can be the expert, and know the tedium of answering the same questons every few months... :P

#9 denverappraiser

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Posted 10 October 2010 - 04:11 PM

GIA is a grading service, AGA is an appraisal service. They are different. An appraisal involves an analysis of the market and an interview (or 2) with the client to explain to them how it relates to a particular marketplace. Each appraiser sets their own prices for their own particular service and it’s a competitive marketplace. I’m a little bit cheaper, but I’m not local for you either. He surely has competition and they are probably cheaper and it’s up to you to decide if the credibility of your appraiser is worth the price. My gut feeling is that if you’re making a $25k decision, a +/- $100 on the professional fees isn’t the heart of the issue but that’s your cal.

I’m confused. Why are you considering buying a claimed D/VVS1 2 carater from your dad if what you really want is an I/VS1 1.25?
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#10 donedating

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Posted 10 October 2010 - 04:47 PM

View Postdenverappraiser, on 10 October 2010 - 04:11 PM, said:

I’m confused. Why are you considering buying a claimed D/VVS1 2 carater from your dad if what you really want is an I/VS1 1.25?

Purely an emotional decision. Id rather he have the money, even if it means going above what I would do if the option didnt exist. But with each post, Im becoming less and less certain of just how high the quality is of what he has. It may turn out that his is lower quality than what Im looking for, which may ultimately just lead me to pursue the smaller stone I had in mind...

The other aspect is that right now, $500 (Appraisal + GIA + Misc) is a TON of money to me. However when it comes time to actually make the purchase, I should have an actual job.

Edited by donedating, 10 October 2010 - 04:49 PM.


#11 donedating

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Posted 10 October 2010 - 04:56 PM

View Postdenverappraiser, on 10 October 2010 - 04:11 PM, said:

GIA is a grading service, AGA is an appraisal service.

Also, I had in mind that after getting a GIA cert, that an approximate market value could come from just researching what similarly graded stones are pricing at. (through blue nile or the diamond finder on this site.) In this sense I had kind of viewed them as approximate (as far as finding a fair price amongst family)... Is this terribly misguided?

Edited by donedating, 10 October 2010 - 04:56 PM.


#12 davidelevi

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Posted 10 October 2010 - 06:38 PM

Couple of points, in more or less random order. If I have left anything out or there is something that you want more verbiage or opinions on, tell us!

1. Steam cleaning - perfectly normal, and on diamonds by and large perfectly safe. Pieces with micropave may run some risk, but as long as the jeweller has checked that all the stones are safely set, it should be OK on it as well. It will clean reasonably well, but on a stone that's been set for 40 years there may be grime that even a powerful jet of steam will not clean out. Even if it has been cleaned quite regularly, diamonds are literally grease attractors, and any small bits of dirt on the pavillion will have the effect of making the stone seem grubby.

2. The GIA report will allow you to compare to some extent, but - a. diamonds prices vary a lot even within a given (set of) grade; the appraisal will tell you more accurately where on the continuum between say G and I your H graded stone sits (and thus how much closer to a G in value it would be); b. what you will find is comparable retail prices from a dealer to a consumer; depending on how good one is at selling and how desirable the stone is, private deals may range between 30 and 70% of the retail price. At what end should you and your father deal?

3. What's "good" - well, the answer as you have pointed out is what the two of you define as good. Incidentally, a (properly graded) 1.25-1.50 H/I VS1 is not what I would call a modest stone; it's probably in the top 10% of stones sold for engagement rings in the USA, and in the top 2% worldwide. Leaving that aside, what's my take? Personally, I would not pay for clarity above VS2 - grades above that are a purely artificial and arbitrary construction of the diamond trade. Also, I find I like most colours - from the icy whiteness of D-F to the warmer whites down to J and then through the light yellows and up again (on the price scale) to fancy yellow and fancy vivids and deeps. It depends on the design and on what you want to do with the stone. The one thing I would not skimp on is cut - this may mean going for a modern "superideal", or for an older-style stone with a high crown and relatively irregular faceting; the main thing - again - is going to buy what you like because you like it, not because it's more expensive, fashionable or in stock now. There's plenty of diamonds to pick from; take your time to find a good dealer you can work with, and then get them to help you make up your mind.

4. Finally, on the costs - I think you should go halves with your father; you may pay for the appraisal, which at the end of the day you will also need for insurance and the appraiser may be able to help you with the logistics of the rest of the transaction. Your father should pay for the grading - he will NOT be able to sell that stone at a reasonable price without it anyway, so why should you pay for that?
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#13 donedating

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Posted 10 October 2010 - 07:19 PM

Thanks for your comments on the VS2, that is exactly the kind of info I was looking for. In terms of not skimping on the cut... can you expand on that point. (I think) I understand that there are precise dimensions in terms of maximizing the light captured. But is it such that the closer you are to a "perfect" cut the price increases. Like a premium for every tenth of a degree close to perfection on each face? Indeed the proportions are the aspect that I have the least grasp of in terms of how to interpret them with regard to appearance.

[url="http://www.hwgem.com/diapropo.htm"][url]http://www.hwgem.com/diapropo.htm[/url][/url] --- As according to that website, I am not really sure how a 1 would compare to a 4 in terms of "brilliance". Would I even know? :blink: Perhaps I should ask a dealer for a side by side comparison as I have with color and clarity.


With regard to the resale and splitting of costs, if I were to pass on the deal, its the type of thing that I would ultimately inherit anyway, highly unlikely that he seeks out a buyer. As stated previously, I'd be happy for this to go through for emotional reasons (providing him some cash) as well as simultaneously filling a need for an engagement ring. If it appraises for 10k, Ill probably be done with it and give him that value. If its 20k, Id probably offer 70% and ask for the "i'm your favorite/only child" discount :lol:

Would I need to get it cleaned prior to appraisal or grading? Is this something that would be included (or at extra cost) in these services, or something I should pursue ahead of time?


Edit... Ooh another question: based on reading through the forum. I read in a previous post of the price thresholds at .5 and .7 ct. What are the major thresholds between 1 and 2? I had assumed it was every half carat, but seeing .7 rather than 1 or even the round .75, it seems my assumptions are off. I kept asking the jeweler for prices at 1.49 and he would only show me 1.51. I realize that the cutters will sacrifice cut to keep the weight above certain marks, but are there really no 1.49s, for example?

Edited by donedating, 10 October 2010 - 08:23 PM.


#14 denverappraiser

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Posted 11 October 2010 - 06:21 AM

You’ve used the term ‘appraised for’ several times and seem to put a fair amount of confidence in the usefulness of that. It’s important to understand what it does and doesn’t mean. As you point out, if you nail down what it is, it’s usually easy enough to look up what Blue Nile or their various competitors are charging for items with similar descriptions but it’s worth noting that this is NOT the usual definition of value for jewelry appraisals and it’s NOT the usual transaction price for deals like the one you’re describing. There’s no way for an appraiser to assign a value to the emotional component of either wishing to channel some extra money towards your dad, the value of owning a stone that’s been in the family or the merits of giving your kid a discount but there are some other numbers that they can produce that may be of use. What could the seller reasonably expect to realize, net of expenses, if they were to sell on the open market? What would the buyer reasonably be expected to pay from similar competitors in the open market? What would the buyer expect to pay from a dealer in an available discount market (this is the Blue Nile number you are referring to)? What would it be expected to sell for at a nearby specialty jewelry store? What would that store be ‘asking’ before discounting on a new similar item (this is the most common number that appears on appraisals)?

price per carat for otherwise similar stones tends to step up at 1 ct, 1.5ct and 2ct. That said, dealers set their own prices and you're wise to look at the prices of individual stones rather than trying to game the system and look for a 1.49 hoping that it'll get a discount. It might, but there are an awful lot of other variables at play.

I'm inclined to say that the cost of the appraisal, if you decide to buy one, should be entirely on you regardless of whether you end up buying. It's hiring council to assist YOU in making a wise decision. The cost of the lab work should be entirely on him, again regardless of whether you end up buying it. He should have done it years ago (like when he bought it). As I'm sure you can imagine, these questions all produce different answers and all could be reasonably described as the item's 'value'.

It's hard to imagine an appraiser who charges extra for cleaning but I can't speak for all appraisers. Ask 'em. In my own practice it's a standard part of the service where appropriate (certain antique items you don't want cleaned and certain types of damage need to be discussed first because of the risk of further damage in the cleaning process).

Edited by denverappraiser, 11 October 2010 - 02:31 PM.

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#15 davidelevi

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Posted 11 October 2010 - 06:55 AM

The point I'm trying to make on cut is that there are many ways of producing a good looking diamond, and while many (not even sure "most") people will look for a trade off among brightness, scintillation (sparkle) and fire, others will prefer a distinctly "unbalanced" look. The oft-misquoted 1919 seminal study on cut (of rounds only, incidentally) by Tolkowsky never identified one set of proportions likely to give a good balance, like the site you linked in seems to imply. Tolkowsky identified half a dozen sets of proportions that in his view gave a good balance, and if you were to take the range of proportions implied by that set you'd end up concluding that pretty much every diamond is a "Tolkowsky Ideal"...

So, where that leave you? If you are going for a round, start with stones that are graded GIA Excellent on cut or AGS 0 to 2, and then see the one you like best. The idea of the lab grade filtering is to allow you to screen what really are not very nice looking stones and focus on applying your taste to a selection of stones that will be reasonably well cut to start with.

Cleaning - not necessary. Once unset, it's pretty easy to clean!

The major thresholds are 0.50, 0.70, 0.90, 1.00, 1.50, 2.00 and on to about 4.00, then each round carat. However, as you approach the threshold two things happen: the cost/carat goes up (not quite as much as for the stones that reach the threshold, but it does), and the temptation for the cutter to maximise weight increases. That's why there are very few 1.49.

Another thing to bear in mind is that people assume that because one diamond is 7.47 mm and another one is 7.21 there is a lot of difference visually. In practice, unless the two diamonds are right next to each other, you won't see differences below ~0.3 mm just because of the inbuilt accuracy of the eye-brain system (and even then - see my little test here, which you can replicate for yourself with various size differences using PowerPoint and zoom 100%)

http://www.diamondre...dpost__p__27288
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#16 donedating

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Posted 22 October 2010 - 04:26 PM

Hi again. Thanks for the advice so far, I just wanted to ask a few more questions as I may be obtaining the first appraisal shortly.

Initially I had planned to get the ring appraised and the diamond taken from the setting in the first appointment with the jeweler. Then insured, then sent to GIA.

I have read that the diamond can be damaged when being taken from the setting. This makes me think that I should get the ring insured before I attempt to have it demounted.

Is this correct that I should 1)Appraise 2)Insure 3)Demount? Will insurance protect against damages in the demounting process? Is the jeweler insured against this themselves?

Any other info I should know that perhaps Im not informed enough to even ask about?

Thanks. Im going to pick up the ring tomorrow and will try to post pics for opinions and insight.

Edit... Neil, I just found a post of yours on another site mentioning jewelersmutual.com in regards to insurance for setting and removing stones. Is there a special policy just for these processes, or is it simply included under a annually renewed policy.

2nd Edit... Ive looked into adding on to our Allstate Renters Insurance, but they dont seem to cover damage, which is precisely what I do want covered...

Edited by donedating, 22 October 2010 - 05:24 PM.


#17 denverappraiser

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Posted 23 October 2010 - 05:35 AM

View Postdonedating, on 22 October 2010 - 04:26 PM, said:

Is this correct that I should 1)Appraise 2)Insure 3)Demount? Will insurance protect against damages in the demounting process? Is the jeweler insured against this themselves?

View Postdenverappraiser, on 10 October 2010 - 05:36 AM, said:

Here’s a path that has next to zero risk and protects both parties. Get it appraised in it’s present condition – get it insured – have the stone removed – send it to GIA – get it reappraised based on the new information from GIA – do the deal (or not) – Get it mounted in the new ring or remounted into the old one – get it reappraised AGAIN to include the mounting and the new owner – get it reinsured in your own name.
Note: You are not the present owner. The first appraisal and the first insurance policy would be for your dad, not you. HE should be the one contracting to have someone take it out of the setting. If there's previous damage then it would not be covered under any policy but JewelersMutual, among others, will cover damage done while a jeweler is working on a piece of yours. Talk to your agent about the details of what is and what is not covered. By all means, ditch Allstate if they don't cover what you're interested in although this doesn't sound right to me based on my prior experience with that company.
Neil Beaty
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#18 donedating

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Posted 23 October 2010 - 05:45 AM

Sorry for the poor reading comprehension. After having my fears allayed about theft, I hadn't thought about it with respect to damage. :unsure: Thanks.

#19 donedating

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Posted 24 October 2010 - 09:44 AM

As promised, Ive attached a few pictures below. Not sure if the pictures are sufficient to tell, but any guesses as to if the proportions are as they should be?


Looking at it under a microscope, one odd thing that stands out is that there is a deformity which looks like a white wisp. Almost as though a cloud is caught in there. The wisp looks like it is a planar sheet, not 3D. Perhaps a grain boundary or something? When I had read about the different types of defects listed on the gia cert pictures (feather cloud needle), I assumed they were all different black shapes..


[url]http://img254.imageshack.us/img254/3486/pa220087.jpg[/url]

[url]http://img263.imageshack.us/img263/8172/pa220091.jpg[/url]

[url]http://img835.imageshack.us/i/pa220094.jpg/[/url]

[url]http://img264.imageshack.us/img264/1006/pa220098.jpg[/url]

#20 donedating

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Posted 24 October 2010 - 09:46 AM

Ok, Add media apparently just prints the link.... :blink:

Attached Image: PA220087.JPG
Attached Image: PA220091.JPG
Attached Image: PA220094.JPG
Attached Image: PA220098.JPG

Edited by donedating, 24 October 2010 - 09:47 AM.