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Christina

GSI engraved diamond

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I found out today that my diamond is laser engraved with "GSI 466547" unfortunately, it was a free verbal appraisal came and I didn't get all the information I wanted. With this engraving, is there any way I can find out the clarity,color,cut,flaws etc on my diamond? I'm looking to sell it, it's a 14k white gold princess cut diamond 1 & 1/2ctw (main stone is 1 carat), the jeweler that told me it was engraved said the retail price for it would be around $5,000.00...but then proceeded to tell me that if he was to buy it from me he would only pay about $250.00...im not sure if I can trust this, since it's such a huge price difference. If anyone can reply with helpful information I'd greatly appreciate it! Also, any advice as to where I should be trying to sell my ring? I'm in Sarasota Florida   THANKS EVERYONE!

Edited by Christina

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A quick search found this: http://onlinecertificate.dnsalias.net/

image.png.3625476f33db102e86101f22d6e2c390.png

If this corresponds to what you have, then whoever told you "1 carat for the centre" is frankly unskilled. There is no way that a princess cut 4.35 mm square is a 1 carat stone. Whether he would retail it for $5,000 only he can decide; whether it would sell at that price is a different matter still.

For comparison, and assuming (big assumption!) that the grades awarded by GSL (whoever they are - there's at least 3 organisations using the initials) are comparable to GIA grades, similar stones to the centre stone are retailed between $700 and $1300 depending on a lot of other details on which we have no information (e.g. cut quality - the "Very Good" grade on your diamond unfortunately means nothing without an explanation of how they determined it...)

https://www.diamondreview.com/diamonds?sortOrder=price&sortDesc=1&fShape=Prin&fCaratLo=0.50&fCaratHi=0.52&fColorLo=G&fColorHi=H&fClarityLo=VS1&fClarityHi=VS1&fCutLo=&fCutHi=poor&fDepthLo=50.0&fDepthHi=80.0&fTableLo=40.0&fTableHi=80.0&fSymLo=good&fSymHi=good&fPolLo=ideal&fPolHi=good&fCulLo=&fCulHi=vlarge&fFlrLo=&fFlrHi=vstrong&fPriceLo=0&fPriceHi=1000000&adv=1

If you were to resell the centre stone by itself, you may get anywhere between 1/3 and 2/3 of these amounts - making the BIG assumption that it really is a G/H VS1 of decent cut.

Then you have the other diamonds; these may retail for $500/carat (or far less, depending on quality), but have virtually no resale value.

The setting and labour could cost $500 to $1000; the metal has at least a scrap value of about $80 (4 grams of 14 kt gold at ~$32/g).

In all, the $250 offer is ungenerous but possibly not terribly unfair from a retailer. (1/3 of $700 + scrap on the gold)

How to sell depends on how good you are at selling and how much time and effort you want to invest; selling to a retailer is the fastest way, but it's also the lowest prices.


Davide - Specialised Consumer Information and Assistance,
Diamonds by Lauren (http://www.diamondsbylauren.com)
davide@diamondsbylauren.com

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What you was received was not an appraisal, free or not. It was a bid. I tend to bristle at this confusion even though it’s common but I”ll give the guy the benefit of the doubt and say he called it right and that it was you who was confused.

So was he right?

He, of course, can bid whatever he wants just as you can accept it or not as you want. I think $250 is low.  Shop him around. Most cities have a fairly big industry in this. For the most part, this is a recycling job because people don’t generally care for ‘used’ engagement rings, but this has as much to do with your own sales skills as it does the gemological properties of the stone.  Recycling is easy and diamonds can be remounted in other things with little trouble. Gold is a commodity. ‘Retail price’ whatever that means, is irrelevant in any case. Assuming it’s undamaged and that the grading is reasonably accurate, I would expect offers to be more like double that. 

You might consider getting a real appraisal and asking these questions. That means an opinion from an expert who is working for YOU  and who isn't trying to buy it. GSI worked for the original seller and, as mentioned above, the current guy wasn't doing an appraisal at all. I say you 'might' want to do this because this will run you something like $100 (I charge a little more than that) and that may end up being a significant fraction of your final money. It depends on how you value your time and efforts. It's not all that hard to do the legwork, collect some bids, and do a statistical analysis, but that's not a task that appeals to everyone and it can become time-consuming if you let it. As you point out, the credibility of the source(s) is important. 

 


Neil Beaty

GG(GIA) ICGA(AGS) NAJA

 

There's never a crowd when you go that extra mile.

Professional Appraisals in Denver

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I note in the GSL report that the diamond was estimated at 0.52cts. That turns out to be important. The margin of error is more than 0.02 and if it's under 0.50cts, or the buyers think it is based on their own estimates, it will have a significant effect on the bids. 


Neil Beaty

GG(GIA) ICGA(AGS) NAJA

 

There's never a crowd when you go that extra mile.

Professional Appraisals in Denver

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RE: Davide's comment on GSL. That's a Canadian lab that also goes by Gemscan and a few other names. GSL is their US subsidiary. They do a lot of business with the big chain sellers like Zales and Sears. As far as I can tell, they don't do any business with the public. 


Neil Beaty

GG(GIA) ICGA(AGS) NAJA

 

There's never a crowd when you go that extra mile.

Professional Appraisals in Denver

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51 minutes ago, denverappraiser said:

What you was received was not an appraisal, free or not. It was a bid. I tend to bristle at this confusion even though it’s common but I”ll give the guy the benefit of the doubt and say he called it right and that it was you who was confused.

So was he right?

He, of course, can bid whatever he wants just as you can accept it or not as you want. I think $250 is low.  Shop him around. Most cities have a fairly big industry in this. For the most part, this is a recycling job because people don’t generally care for ‘used’ engagement rings, but this has as much to do with your own sales skills as it does the gemological properties of the stone.  Recycling is easy and diamonds can be remounted in other things with little trouble. Gold is a commodity. ‘Retail price’ whatever that means, is irrelevant in any case. Assuming it’s undamaged and that the grading is reasonably accurate, I would expect offers to be more like double that. 

You might consider getting a real appraisal and asking these questions. That means an opinion from an expert who is working for YOU  and who isn't trying to buy it. GSI worked for the original seller and, as mentioned above, the current guy wasn't doing an appraisal at all. I say you 'might' want to do this because this will run you something like $100 (I charge a little more than that) and that may end up being a significant fraction of your final money. It depends on how you value your time and efforts. It's not all that hard to do the legwork, collect some bids, and do a statistical analysis, but that's not a task that appeals to everyone and it can become time-consuming if you let it. As you point out, the credibility of the source(s) is important. 

 

I went to the jewelry store that I always use to take links out of my watches and fix broken necklaces. I asked if I could get a verbal appraisal, he did so and decided not to charge me. After he told me that the "retail" price would be around $5,000, u proceeded to ask him what I could sell it for...that's when he gave me the estimate of $250

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He didn't tell you what you could sell it for, he told you what HE would pay. That's a valid enough answer, but it's not the answer to the question you asked (which is why you are here).  The correct answer to the wrong question is not an 'appraisal'. 

Edited by denverappraiser

Neil Beaty

GG(GIA) ICGA(AGS) NAJA

 

There's never a crowd when you go that extra mile.

Professional Appraisals in Denver

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1 hour ago, denverappraiser said:

He didn't tell you what you could sell it for, he told you what HE would pay. That's a valid enough answer, but it's not the answer to the question you asked (which is why you are here).  The correct answer to the wrong question is not an 'appraisal'. 

Agreed....he didn't even tell me the carats of the diamonds, he told me the size of the diamond (as in the main stone is 4.5x4.5)...I took my ring to a jeweler about 2 years ago, she told me the total weight of all the stones was 1.5 carats, main stone being 1 carat and 8 side stones equaling to .5ctw...But then last night I Google searched the GSL number on the diamond and the report from 5hier website said it was 1.02ctw...so I'll just have to take it to get appraised,if I pay for the service, I'm sure they will give me a straight clear answer.

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1 hour ago, denverappraiser said:

He didn't tell you what you could sell it for, he told you what HE would pay. That's a valid enough answer, but it's not the answer to the question you asked (which is why you are here).  The correct answer to the wrong question is not an 'appraisal'. 

@denverappraiser...you seem to really know what yours talking about...do you have any advice as to where I should take my ring to sell it for a fair price? Or Maybe being in the jewelry business yourself, maybe you know of a specific place that would give me a fair offer. I'm in Sarasota Florida, most of the places here are pawnshops,we buy gold places (which I know both of these types of places will totally rip me off) or big fancy jewelery stores, like the Diamond Vault. 

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Most big fancy jewelry stores don't buy from the public at all although I don't know that particular store.  'Ripoff' is a loaded word but it's correct that pawnshops are rarely the highest payers. Then again, they normally pay cash and they normally do deals fairly quickly, which is important to some clients.  I've written quite a bit on this general topic and a bit of searching would save me some typing.  


Neil Beaty

GG(GIA) ICGA(AGS) NAJA

 

There's never a crowd when you go that extra mile.

Professional Appraisals in Denver

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2 hours ago, denverappraiser said:

Most big fancy jewelry stores don't buy from the public at all although I don't know that particular store.  'Ripoff' is a loaded word but it's correct that pawnshops are rarely the highest payers. Then again, they normally pay cash and they normally do deals fairly quickly, which is important to some clients.  I've written quite a bit on this general topic and a bit of searching would save me some typing.  

Great I'll look into your articles.. thanks

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