EGL inscription with a GIA cert = used diamond?

[ringbuyer]

Hello, I am in the process of buying and the one I am considering has a US EGL inscription but also a GIA certification. Does this mean the diamond is used? is this common? Will this hurt the appraisal value?


I have posted the diamond values below, feel free to chime in on what your opinions are on this diamond.
Thank you-

diamond:
Round Brilliant
Measurements: 7.66 - 7.70 x 4.72 mm
Carat Weight: 1.71 carat
Color Grade: G
Clarity Grade: VS2
Cut Grade: Excellent
Proportions:
Depth: 61.5%
Table: 57%
Crown Angle: 35.5°
Crown Height: 15.5%
Pavilion Angle: 40.6°
Pavilion Depth: 42.5%
Star length: 50%
Lower Half: 80%
Girdle: Thin to Medium, Faceted (3.0%)
Culet: None
Finish:
Polish: Excellent
Symmetry: Excellent
Fluorescence: None
Comments: Pre-existing inscriptions are present.
Additional Inscription: EGL US88261008D, H&A

 

[Dreamer_D]

Most diamonds on the market are "used". It makes no difference to the appraisal value that I know if, which will be based on retail replacement cost. What is the year on the GIA cert?

The numbers of the diamond look good to me. Do you have an ideal scope image or have you seen the diamond in person?

Are you buying it from a diamond vendor or on the secondary market?

 

[ringbuyer]

The GIA cert was done Feb. 2010 I dont have any pictures nor have I seen the stone (yet). I was just referred to this sellers business in the LA diamond district by a few friends who have purchased diamonds there. I was unaware that most diamonds are used, very interesting. So this is pretty common to have an EGL inscription with a GIA certification?

 

[Dreamer_D]

Date: 3/1/2010 10:14:06 PM
Author: ringbuyer
The GIA cert was done Feb. 2010 I dont have any pictures nor have I seen the stone (yet). I was just referred to this sellers business in the LA diamond district by a few friends who have purchased diamonds there. I was unaware that most diamonds are used, very interesting. So this is pretty common to have an EGL inscription with a GIA certification?

No, I have not actually seen this before on PS. It means that at some point in the diamond''s history it was graded by EGL, and inscribed. Then last month it was sent to GIA to be graded. Why they decided to send it to GIA instead is anyones guess. You could ask the vendor. Many diamonds make a couple rounds on the market. You can also locate diamonds straight from the cutter if you want one "fresh", but determining the true provenance of a diamond is probably tricky. A very recent cert is all that really matters because it identifies the current condition of the diamond. An old cert would be a problem potentially because damage could occurr between certification and purchase that alter''s the stone''s value.

And beware the diamond district. Many a lost soul has gone missing in such places

Its like jumping in a shark tank. If you see some diamonds you like, check back with us with the stats and the PRICE most importantly. Check the vendors policies about returns and exchanges and get everything in writing. Leave a paper trail. I feel it is buyer beware in most diamond districts. Like entering one of those used car malls

.

 

[ringbuyer]

Thanks Dreamer!

The price for the above diamond was 15,400. I think I can get the price down after some negotiating.. Do you have an opinion on what a good price for the diamond would be?

 

[denverappraiser]

Previous owners, if any, does not affect the appraised value unless the issue is the effect that provable prior celebrity ownership has on certain pieces (meaning it might be worth more because it’s ‘used’.

Date of mining and/or cutting does not affect the appraised value.

It might be entertaining to look up the stone on the EGL-USA website using that number to see if and how their grading differs from GIA's. This may provide the answer to why someone resubmitted it to GIA.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

 

[Dreamer_D]

The closest comp I can find was a little under $14k on the PS search tool. That in an online price, a B&M will be a little more because of overhead.

 

[stone-cold11]

one grade off, F to a G.

http://www.eglusa.com/oresults/SearchPage.php?st_num=88261008D

The vendor probably decided to take a risk by sending it to GIA as he thinks the color of the stone is quite close to what GIA would grade it and apparently hit the jackpot.

 

[Lorelei]

Date: 3/2/2010 4:04:29 AM
Author: Stone-cold11
one grade off, F to a G.

http://www.eglusa.com/oresults/SearchPage.php?st_num=88261008D

The vendor probably decided to take a risk by sending it to GIA as he thinks the color of the stone is quite close to what GIA would grade it and apparently hit the jackpot.

Yes he did in this case!

 

[AprilBaby]

My diamond had a IGI cert and inscription and also a GIA cert. Both matched information. Yours is not the first to have both. Not sure why mine did either, but the GIA is correct.

 

[sodenc]

Date: 3/2/2010 4:59:21 AM
Author: Lorelei

Date: 3/2/2010 4:04:29 AM
Author: Stone-cold11
one grade off, F to a G.

http://www.eglusa.com/oresults/SearchPage.php?st_num=88261008D

The vendor probably decided to take a risk by sending it to GIA as he thinks the color of the stone is quite close to what GIA would grade it and apparently hit the jackpot.

Yes he did in this case!

Stone-Cold and Lorelei... this I love to see because while it is rare, similar to my previous posts about EGL (who I view with some scepticism), they every so often hit the nail on the head. Seems like this shrewd vendor knew what he had and exactly what he was doing. Looks like the cutter lost some money.

 

[denverappraiser]

Maybe and maybe not. The cutter decided he could do better selling it as a F/VS2/EGL and the dealer decided he could better sell it as a G/VS2/GIA. Both could be right because they have different marketplaces that they’re selling into. GIA’s usually sell faster and EGL’s sell at a ‘discount’ but F sells for a premium. The folks who do well with EGL’s are rarely the same as the folks who do well with GIA’s and visa versa. You can bet some careful thought went into this decision at both parties.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

 

[Todd Gray]

Date: 3/1/2010 9:51:01 PM
Author: dreamer_dachsie
Most diamonds on the market are ''used''.

I don''t think I''ve had enough coffee yet this morning? But I think it would definitely be interesting to know when the diamond was submitted to the EGL for grading - this is not indicated on the online results. Why not ask the dealer representing the diamond for a copy of the EGL report referenced in the inscription? If I were buying the diamond, I would definitely want both reports and it would provide insight into whether the diamond is previously owned or not - which does make a difference to some buyers.