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Lynnas

Reset ring- might have been given different diamond

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I was given grandparents engagement ring and had it originally appraised when I got it. It has a marquis stone and the original appraisal gave the following specs- 12.3x5.2mm at 1.61ct color h and clarity I1. The stone was set in a large gold, older type setting so I understand it was an estimate. I recently had it reset into something more my taste and size (I do have larger fingers) and they did another appraisal (both done within 6 months of eachother). The second one did take them out of the setting so I know the appraisals can be different but the second appraisal came out with 1.24 ct 12.28x5.19x3.5 mm g color and s12 clarity.  The first one at 1.61 ct also closely aligned with grandparents appraisal and value it was insured at.

 Can there really be a .37 margin of error for the carat size just from being in the setting? I am worried they gave me a different stone. It doesn’t look like the same stone to me. I remember there being a black dot as well that I no longer see, the black dot did not come off on either of the 2 initial cleanings and appeared to be in the diamond. I understand I did lose a good amount of gold based on my setting choice but the second appraisal came out over $2000 less than the original. I admit I am a novice but it just doesn’t feel right. 

Should I be alarmed by that drastic of a change? What should I do, do I have any legal recourse or way to confirm this is the same stone? 
 

thank you 

Edited by Lynnas
Clarification

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There can be an error of that size, considering that the first appraiser worked out an approximate weight from a formula where they didn't have a measurement for depth, and the stone is very narrow and elongated, even for a marquise, so they may have introduced some adjustment incorrectly or used an inappropriate formula. 

All the 'approximate weight' tables and calculators/formulae I have suggest weights between 1.2 and 1.4 carats for a 12.2 x 5.3 mm marquise; 1.6 is out of the question, unless the girdle is extremely thick (which with a total depth of 3.5 mm it cannot be), or the depth is huge (which it 'could have been', but it would be very unusual), so I'm inclined to discount it as an error. Did the first appraiser you took things to have access to the original purchase documentation? If so, they may not have bothered to recalculate weight or even to look up tables - they should not have done that, but you can't prove they did... 

As to the disappearance of the inclusion, it may have been something between the old setting and the stone, or even something caused by the old setting (a piece of metal visible/reflected into the stone - it often looks a lot darker than it seems when light shines on it directly).

The difference in value may be due to the fact that the second appraiser is taking into account the weight of the stone being significantly smaller (and below an important 'price point' at 1.50 ct) - but there could be other factors. Unless the old setting was extremely heavy, the difference in value due to gold weight would be minimal (pure gold is ~$50/gram, and a very heavy ring would weigh 18-20 g, so no more than 15 g of pure 18kt gold).

I very much doubt you would have any legal recourse against anyone, unless you could somehow prove that the stone has been switched. Have you had it measured in front of your eyes? If the sizes match (and they seem very consistent across both appraisals/valuations), it's extremely unlikely that someone had a stone with perfectly matching size - so the theory of the 'original error' is reinforced. Depending on whether you trust the second jeweller, it may be worthwhile taking the ring back to them and asking them to re-measure the stone with you witnessing the measurement.  


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

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Talk to your first appraiser and ask this question (they are different appraisers, correct?).  This looks like an error by #1 to me, too but that's the only person you KNOW saw it before the work was started. That's why would start with having THEM explain the difference. Both should be able to explain their own valuation methodology to you. Appraisers are not always the same in their approach. Mountings can make a big difference but the biggest range between appraisers is usually in the retail markup, which usually isn't separately listed. 

SI2/I1 is a borderline call but I rather suspect the black dot is a cleaning issue. Appraiser#2 had the opportunity to thoroughly clean the loose stone in a way that #1 did not.  That's just a guess, of course, but people are often amazed at how much better their stones look after they're cleaned.  

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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