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lannie
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Hi - Just found this site today and am not computer savvy so I hope this is in the right category and posted correctly. 22 years ago I purchase a 1.02 carat round diamond for $1,800. I had it appraised at purchase time with GIA. It was quite a lengthy appraisal in a folder which I will have to locate in my files for exact and complete information but I do know that it was appraised as a VVS2-I color. I don't remember clarity, FL or dimensions but I do recall a reference to being an "Israeli" cut and something about a wider table and more shallow depth than normal. Anyway, I haven't had it appraised since I purchased it but am considering selling it so I can buy a bigger diamond. The jeweler I purchased it from will let me upgrade to a bigger diamond but will only credit me with the original purchase price value so I'm thinking I might get more for it if I sell it. What do you think? Thanks - Lannie

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Neil's your guy for a referral- he knows where to send you!

 

I would add that a GIA report is really helpful in these situations- but it's NOT an appraisal- and from the sound of the paper work you're describing, I seriously doubt the stone has a GIA report.

 

 

In terms of where you're going to do best in a trade- what is he offering you for yoiur dimaond? What's the price and stats of the diamond you're trading up to?

Generally if a seller is offering trade up theoretically that should be your best bet- that is unless they are playing games with the price of the new diamond.

Edited by diamondsbylauren
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Niel's your guy for a referral- he knows where to send you!

 

I would add that a GIA report is really helpful in these situations- but it's NOT an appraisal- and from the sound of the paper work you're describing, I seriously doubt the stone has a GIA report.

 

 

In terms of where you're going to do best in a trade- what is he offering you for yoiur dimaond? What's the price and stats of the diamond you're trading up to?

Generally if a seller is offering trade up theoretically that should be your best bet- that is unless they are playing games with the price of the new diamond.

 

Sorry to sound so obtuse regarding your post but I noticed and was confused by your mention of both a GIA report and an appraisal. What is the specific difference? I am challenged by the assertion and/or the high probability that I didn't receive one or the other. I simply must dig through 22 years of "stuff" and find it before I can say with any certainty. I did locate the cancelled check for the service. It was in October of 1986 - payable to the Tampa Gemological Laboratory Inc. in the amount of $100 for a GIA appraisal. At any rate the report or appraisal or whatever it was that I received back had page after page of photographs, charts indicating dimensions and such, what showed up under 10x magnification, a chart with markings of characteristics of the stone - explanations for why it was a VVS2 as opposed to other gradings and an explanation for the color analysis.

At any rate, you have created a curiosity that will not be satisfied until I have the documentation in my hand once again and perhaps you will be so kind as to educate me on exactly what I do have.

 

To answer your question, I am looking to trade up to either a 2 carat Oval stone or 2 carat Round - VS1 to VS2, Color Range G to I, Very Good to Good Cut. The stats are a range. No specific stone was being discussed. The Jeweler was willing to credit me with the price I had paid him for my stone 22 years ago which is $1800.00 He gave me a range of $7000-$8000 per carat as a ball park for the upgrade.

 

Thanks for all your help.

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Grading Report: a report stating the colour, clarity, weight, dimensions and other information about the diamond that can assist in the identification of the same. It may contain photographs, plots and other graphical information, and be issued by a jeweller or an indipendent laboratory. Not a valuation or appraisal, since it has no "price" or value information.

 

Appraisal: a valuation of what the diamond is worth in a specific market (e.g. retail; private resale). It may also be attached to (and indeed depend upon) a grading report of the stone, possibly done by the same person who has appraised it.

 

GIA does NOT issue appraisals. GIA issues grading reports and trains people in the science (art?) of grading diamonds and other stones, but not - as far as I know - in appraising the value of these stones. GIA graduates may provide appraisals (possibly after further training), but that does not make them GIA appraisals; simply an appraisal by a person that at some time graduated from a GIA course.

 

A GIA grading report is generally a fairly spartan affair, containing (in graphical terms) at most a wireframe plot of the stone cut and its inclusions; it sounds like what you have is 1) a lot more comprehensive - possibly including an appraisal, and 2) not a GIA report. As such, it has unfortunately little value for the trade in establishing what stone you have and therefore its value. The good news is that a "genuine" GIA report costs now little more than the $100 you paid for your report 22 years ago.

 

Assuming the grader who graded your stone got colour and clarity "right" (i.e. that a GIA report would carry the same grades), a similar stone would sell today between $3500 and $6500 depending on how well it's cut and polished and other factors. Given you are proposing to trade it for a $15,000 diamond, the offer from your jeweller seems to me a bit stingy. It may be a fair offer if you were to simply return the stone and get cash.

 

One last point: if I were you, I'd consider upgrading the cut and going for a stone just under the 2ct limit. No one will be able to tell the difference in size, but a fair number of people will be able to spot the difference in sparkle and liveliness of a truly well cut stone.

 

ETA: my comment on the trade in value apply if the stone is in the same condition it was in when you bought it - plus or minus dirt. If it has chips or scratches, then expect a fair decrease in value, since it would most likely no longer be considered a VVS2.

Edited by davidelevi
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Here’s a capable appraiser in Atlanta.

 

Stephen Turner

Gemcorp, Inc.

5064 Roswell Road Unit B101

Atlanta, GA 30342

404-851-9489

www.gemcorp-appraisers.com

 

I certainly understand that the whole process can be confusing and Davide did a nice job describing the difference between an appraisal and a lab report. GIA is, first and foremost, a college for gemologists and nearly all gemologists in the US are graduates from there. They also operate a laboratory for testing gems and grading diamonds known as the GIA Gem Trade Laboratory. Reports from the lab are called GIA and reports from GIA graduates are called GIA but they are decidedly different things.

 

In your case, you need to know what you have and how this relates to a particular marketplace, specifically the resale and trade in opportunities in Atlanta at the moment. A 20 year old insurance document is of no use at all.

 

I"m with Davide that this trade in value seems low if the description you gave is accurate and given what you're trying to do.

 

Neil

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Hi All!

 

Lanie- I apologize if I was unclear- thanks to both Neil and Davide for clearing it up!

In terms of what you'll be getting- remember there's no cut grade for the oval, if that's the route you take.

An oval will cost at least 15% less per carat than a round.

Although it would be great if you could follow Davide's advice and find a 1.90carat, such a stipulation will really narrow the amount of stones you'll see- I'd suggest including them in the possibilities of things you'll consider when talking with your jeweler.

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Hello Neil, can you suggest any good appraisers in MD/VA/DC area?

 

:)

 

Here’s a capable appraiser in Atlanta.

 

Stephen Turner

Gemcorp, Inc.

5064 Roswell Road Unit B101

Atlanta, GA 30342

404-851-9489

www.gemcorp-appraisers.com

 

I certainly understand that the whole process can be confusing and Davide did a nice job describing the difference between an appraisal and a lab report. GIA is, first and foremost, a college for gemologists and nearly all gemologists in the US are graduates from there. They also operate a laboratory for testing gems and grading diamonds known as the GIA Gem Trade Laboratory. Reports from the lab are called GIA and reports from GIA graduates are called GIA but they are decidedly different things.

 

In your case, you need to know what you have and how this relates to a particular marketplace, specifically the resale and trade in opportunities in Atlanta at the moment. A 20 year old insurance document is of no use at all.

 

I"m with Davide that this trade in value seems low if the description you gave is accurate and given what you're trying to do.

 

Neil

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