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Opinions On What To Do With Diamond Ring Set 1.02Ct Center


Prospector417
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Hello Everyone!

First just want to say I have been reading this forum for a number of hours, skimming through the threads and I believe I have decided on what I am going to do but though I might as well bounce the question off of you fine gentlemen (and Women ;) )

 

I recently acquired a nice set of an engagement ring with matching band from a local large chain thrift store (like a Goodwill but not Goodwill) for pretty much nothing considering the size of the diamond (less than $300 for the set). It was extremely dirty in the display but after seeing the 14kt hallmark and the fact that it wasn't a new looking cut of stone and an extremely small carbon spot I was willing to take a gamble on the purchase as the gold value would mean I would only be out about $20-$30 at the time if the stone wasn't a diamond. Also the fact that it had a matching band to go with it led to my educated gamble on purchasing it.

 

A little background. I have my own business for the last couple of years dealing in precious metals (dealing with antique dealers and pickers buying their gold, silver, etc for much better than the local pawn shops and precious metal buyers and then turning around and selling to a refiner. I have been apprenticing under a goldsmith with over 40 years experience but it has been in more of a technician area, dealing with more of the repair side of things (tippings, soldering, setting diamonds that have fallen out making bezels etc etc etc). While the custom stuff is not foreign to me I have been staying away from the larger diamond side of things (over say 50 points) because their hasn't been much call for it lately at that jewelers premises. I mention this just so you all know its not like I'm walking in off the street with no knowledge ;).

The goldsmith is also a GIA certified gemologist, however unfortunately he is out of the country for a number of months on business and is unable to make any sort of appraisal on the setting and or stone without having it in hand (which I completely understand as I wouldn't want to put my name to something without being able to have it in my hands etc) He did say that with what I have been able to show him it might be an I1 or I2 With a possibility that it could be as high as an SI2. colour wise it he said it looked to be in the range of H-I possible J

 

With that out of the way.here are the particulars of the center stone.

​I believe it is a European Cut/ Old Mine Cut ( not a recent cut stone but is round and symmetrically cut)

 

I have taken the stone out and given it a good cleaning in an ultrasonic and then steamed it. Put on a diamond scale after calibration it weighs 1.02ct the the measurements are as follows 5.81 - 5.83 x 4.07 But it has a very large girdle of about 0.65mm +/- 0.02mm around girdle, however the girdle is very nicely polished. The table is smaller than a more recent round cut with the crown also being larger. With those proportions without the large girdle it should of been around a 0.75ct stone so I was quite surprised at the weight. Stone has also been tested on a diamond tester (RS Mizar) and a seperate Moissanite tester.

 

The options I was mulling over were

1) sell the unit as is for in the $1500-$2000 range for the quick buck to a larger diamond dealer

 

2) remove stones (2 smaller diamonds on the engagement ring in the 10 -15 point range better quality than center probable SI1 F-G colour) sell the gold and then have the diamonds for a later date (possibly re-cut center to a modern round and keep for whenever I decide to tie the knot)

 

3)remove stones Sell gold, Send center to GIA have a report made with number laser engraved on side and then sell center

 

4) Send center stone out to GIA have a report made with laser engraving again, then re-set stone and sell as a unit.

 

After going over everything I am leaning more towards the last option number 4 because if I get the report then there is no questioning what the diamond is. The unit is worth more than its individual parts and because of the little amount of money I have tied up in the item I'm not going to go broke sitting on it. I am attaching a couple of pictures taken with my phone of the setting and the stone on a scale with also a couple of images of stone in calipers and setting (workbench in background  :rolleyes: )

Thank you for your time in reading this post!


*EDIT* - Accidentally posted 2 images of the same image, Updating with correct second image

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Edited by Prospector417
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I'd recommend scrapping it.  How to best sell the diamond depends on what it is and who you're planning on selling it to.  Show it to the above mentioned diamond dealer and see what he/she has to say. 

 

I wouldn't get into recutting.  You'll lose the 1.00+ weight point, incur fees and risks at the cutting wheel, incur fees at the lab, incur shipping fees, spend months messing with it, and you'll STILL have the same problem finding a buyer.  An 'ideal' cut 0.75/J/I2 is worth less than a 1.02 Euro to nearly anyone.

 

Waiting until your chosen gemologist has a chance to actually look at it might be useful.  The clarity and color grade estimations over the phone is, well, problematic.

Edited by denverappraiser
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Sounds like a lucky find. Congrats!

 

On what to do, I agree with Neil - while sending it on to GIA may seem a straightforward option, what if it comes back classed as modern Round Brilliant cut, with a cut grade of "Poor"? It makes your selling task quite a bit harder, and you've just spent $100 or so and a couple of months turnaround time in getting a report and laser inscription that are actually a hindrance.

 

If you don't want to wait the few months until your preferred expert returns, I'd rather invest an initial $100 or so into getting an independent, expert appraiser to give you an initial analysis of the stone, then go from there with the choice of lab (if any), resale channel/target market and price.

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