GIA cert needed to sell 2nd hand diamond?

[thunkpad]

I have a small-ish diamond that I had planned to have set in an engagement ring but after a change in design is now surplus to requirements.

I live in the UK but bought it second hand in the US for a very reasonable price (especially compared to UK prices). It came with two jewelers'' appraisals which a local jeweler has agreed with after viewing the stone.

The jeweler offered me marginally less than I paid for it but I feel I could get more if I sell it privately, possibly even turning a small profit (given the price differences between the US and UK).

My question is should I now get the stone appraised by GIA and will this boost the potential resale sufficiently to cover the cost of the appraisal?

The stone is a .47ct marquise, E-F in color and VVS2 clarity. I paid $700

And just to clarify, I''m not looking for any offers on here

 

[strmrdr]

A cert does make them easier to sell most of the time.
Being in the UK a hrd cert might be an options also.

 

[Lorelei]

Thunk I am in the UK too, but I would just add the following cautions.

A Marquise isn't as popular as a round when reselling nor will hold as much of it's value unfortunately. However GIA certs are becoming the thing here so it might be worthwhile getting one, but the trouble is with selling diamonds is that you are normally lucky to get half of what you paid on resell. Especially with a fancy shape. I know the price difference is huge between here and the States, you could try to see if you could make a small profit but you might end up at best breaking even. Also it is a case of trying to find the right buyer. A GIA cert will cost you at the approx USD exchange rate about 150 pounds, to give you an idea thereabouts. It might take a while due to shipping etc. Call some local jewellers and see if they have a similar diamond and the selling price, that might help decide the price for you.

You could try the Yellow Ads or Exchange and Mart as these have a large readership. Selling jewellery can be very difficult and frustrating, but I wish you luck!

 

[thunkpad]

At £150 for GIA it probably wouldn''t be worth getting the cert - are there any appraisers who are well recognised but don''t cost quite as much? I''ll check out HRD for starters.

I''m hoping I''ll at least get back what I paid for it given that I bought it second hand myself (at around half online retail price - which is about right for a second hand stone I believe). I''m in no hurry to sell so I might just put an ad in the classifieds and see what happens

Thanks for the help - will let you know how I get on.

 

[pricescope]

Check out also Gemmological Association and Gem Testing Laboratory of Great Britain. This thread can be helpful too: Reselling Gems & Jewelry- What can you expect?

 

[Lorelei]

I was working on a GIA cert costing to the best of my knowledge about $250 so with the exchange rate the ballpark about 150 pounds. Read the threads Irina posted and then the classified ads might be a good idea, especially if you are in no hurry and people might be looking for e-rings this time of year, you could get lucky. The only other thing I can think of is a consignment program - Dirt Cheap Diamonds used to have one, don''t know if they still do, but there are no guarantees it will sell and it could take a while. I really hope you are successful!

 

[pricescope]

I just checked, CraigsList has pages for UK e.g. for London: http://london.craigslist.org/. Ebay can also be an option. Good luck

 

[denverappraiser]

If you’re going to sell to a private buyer who is willing to pay a premium price, you’re looking for a rather special connection. Very few buyers are confident enough in their own grading skills to buy an undocumented VVS2 unless they can pay SI1 prices. This makes a lab report essential if you’re going to sell this sort of stone to a consumer. Dealers are much better at this and it’s fairly likely that their plan it to resell it without adding any paper based on their own credibility with their customers. Unfortunately, as a consumer it’s difficult for you to do the same. Justifying the cost of the lab exam will depend on what market you expect to sell in. Look at the results from previous sellers on ebay, craigslist and other markets you are considering, deduct the costs and see if you can get a feel for the premium associated with a GIA graded stone to a consumer vs. the price offered by the dealer and see if it’s more than the cost of the exam. I will be surprised if it ends up being worth it.

By the way, what’s your source of the VVS2 E-F grading information? Consider the possibility that GIA may grade it differently.

Neil Beaty
GG(GIA) ISA NAJA
Professional Appraisals in Denver

 

[kenny]

One other thing to consider.
Labs have different grading standards.

You said it was an F VVS2 according to jewelers, but there is no lab report.
Can you assume those three jewelers use GIA's grading standards?
You didn’t say appraiser, you said jeweler; I've met some "jewelers" who are not too knowledgeable.

Also did you ask them to verify that it is F VVS2?
Or did you tell them nothing and they all three came up with F VVS2 on their own?
Did you pay them?
Did they put F VVS2 into writing and sign it?

There are labs that have lower standards.
One lab may grade it F VVS2.
But GIA or AGS, which have high standards, may grade it lower.

So be prepared.
Even though three jewelers told you one thing, it is possible GIA will not grade it F VVS2.

 

[Lorelei]

You could use Google UK or the Yellow Pages to find an appraiser near you, for the type of second hand market here this might suffice as your average buyer might not even be aware of GIA certs and just be happy it is a diamond of good clarity and colour. As you are aware it might not appraise for the specs you believe it to be. It seems to be in my experience that a professional here would mainly be interested in buying diamonds with a GIA cert, a private buyer it might not be such a big deal, call some appraisers and see how much they would charge.