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How much is my diamond worth?


belley
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I am recently divorced and looking to sell my engagement ring. I have been told it is better to sell the diamond loose rather than in its setting (simple platinum 6 prong setting). I have the GIA certification for the diamond. The stone is a 1.2 carat, H color, VS2. It is a round brilliant, measurements are 6.84 - 6.87 X 4.21 MM. The depth is 61.4%, table is 58% and the girdle is medium to thick. No fluorescence.

 

Another question is: should I pay the $100 or so to have an updated certification? I've heard people just like the "reassurance" that the certification is current and that it might also bring a greater profit.

 

Thank you~

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You’re right, it’s all about the diamond. The ring is almost irrelevant. There have been several recent discussions on the topic of what to expect in a consumer resale situation. I’m not going to reiterate what was said in those and will therefore not be answering all of your questions. Read through the most recent few dozen threads and especially for anything that looks likely.

 

Whether it’s worth it to get a new grading report will depend on your sales strategy and your target market. Start by going to the top of the page and look up stones with similar superficial specs to yours under the ‘find online jeweler section’. You should find several. Sort them by price by clicking on the column header and look at the ones that have GIA grading. This is your competition. These are offerings from full time professional dealers, most have things like trade up programs, access to designer brand rings, some have showrooms and they all have 800 numbers and easy painless access to experts for everyone with an internet link. This is their advantage. I mention this because you should know what you’re up against. Your advantage is price. They have to be able to replace what they sell and keep on repeating the deal making a profit every time if they plan on staying in business. You plan to retire after this one sale.

 

The only reason to update the lab report will be if you’ve got an excellent cut (which you just might) and you will be selling it directly to a consumer. Salvage dealers are famously cheap about paying a premium for this sort of thing and it’s unlikely that you’ll see your money again. The report is going to cost you significantly more than $100 if you include all of the shipping and insurance by the way. Even so, if it’ gets you graded an ‘excellent’ cut, it’s probably worth it because you can post a scan of the report here, on ebay and similar direct sale venues and people will definitely notice this. Did the jeweler who sold it make any representations about the cutting? Have you had it appraised? On the report you have, what’s the rating for symmetry and polish? What's the date on the report?

 

Neil

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