Had an old EGL NY 1.77 H-VS2 Graded by GIA. Thoughts?

[KingsDude]

Attached is the 1.77 I bought that was an EGL NY. @DejaWiz helped me upgrade to a 4.2 LGD that my wife loves now. We decided to get the stone GIA graded because no jeweler was really trusting the EGL NY cert. GIA sent back the follow. Any questions I should ask or ask them to regrade anything? I can't say I'm not surprised as I figured GIA would be 1 grade lower. They didn't send a pic of the cert or the images of the blemishes on the diamond yet.

 

[tyty333]

It is what it is. Everything seems within tolerance from what we've come to expect.

 

[DejaWiz]

Did you pay a fair price equivalent to a GIA I SI1 diamond?

 

[KingsDude]

Did you pay a fair price equivalent to a GIA I SI1 diamond?

Kind of but not really. It looks like a similar diamond may be $12-$13K retail in this environment?

Unfortunately, I'm pretty sure I paid the same ($12-$13K) 12 years ago. I was tricked into believing that "diamonds will always go up in value" when that clearly isn't the case....
Now how to find a reputable jeweler that can buy this from me? What should I expect to sell to one of them? $7-8k?

 

[lovedogs]

At least 30% off retail of an I/SI1 with those proportions.

 

[tyty333]

Let's just say that one place I got an offer from (for a well-cut stone) was 50% off of the current retail. I hope you can
do better than that though.

 

[KingsDude]

Let's just say that one place I got an offer from (for a well-cut stone) was 50% off of the current retail. I hope you can
do better than that though.

Yeah I have an "offer" from a jeweler that will do it for $7500 right now (ouch). There is one jeweler that said they can put it on consignment and they'd only take 10%. That's not a bad idea and I may do that for a month or so!

 

[denverappraiser]

$7500 is about where I would expect a dealer to be on this.

Diamonds are not a financial instrument but, to be fair, they HAVE gone up in the last 12 years. The key is -- up from what? It isn't what they said it was. FWIW, I've seen EGL grading that's MUCH more divergent than that.

10% is a very reasonable consignment commission. Low even. The point of a commission is to motivate salespeople, and that's not a lot of motivation. The real key is whether they can sell it and how much they can get. Have they proposed a selling price?

If you, or your buyer, decide to have a cutter deal with the polish to get it to xxx, I would take off that EGL girdle inscription at the same time. No reason to add confusion.

 

[DejaWiz]

Yeah I have an "offer" from a jeweler that will do it for $7500 right now (ouch). There is one jeweler that said they can put it on consignment and they'd only take 10%. That's not a bad idea and I may do that for a month or so!

If you decide to keep it, then perhaps reach out to Brian Gavin for a recut? He'll turn it into a bonafide SIC, if he has no corners about inclusions that would be a worry for durability.

 

[lulu_ma]

I think someone had a good experience selling to Abe Mor. @MamaBee I *think* it was you?

 

[MamaBee]

I think someone had a good experience selling to Abe Mor. @MamaBee I *think* it was you?

I didn’t read this thread..but it was me! I really should have held out for more since after he sent it to GIA..it came back an F instead of a G…It previously was certified by AGS..I was so happy for someone to buy it that I didn’t ask for more. He offered the amount for a G. I’m not a bargainer..It was pretty painless. I did go back at another time to see if he would by an antique asscher. He wasn’t interested. I think they only buy modern diamonds.

 

[lulu_ma]

I didn’t read this thread..but it was me! I really should have held out for more since after he sent it to GIA..it came back an F instead of a G…It previously was certified by AGS..I was so happy for someone to buy it that I didn’t ask for more. He offered the amount for a G. I’m not a bargainer..It was pretty painless. I did go back at another time to see if he would by an antique asscher. He wasn’t interested. I think they only buy modern diamonds.

Thanks @MamaBee ! OP, maybe try Abe Mor.

 

[tyty333]

Abe Mor is the one I got the low offer from. To be fair my stone is lower color so less desirable as far as resell... Could have the reason is was on the lower side. Give them a try and let us know how it goes.

FYI...1 month to sell a diamond on commission is not reasonable. I think you should plan on 6 months or so. If it sells fast, great!

 

[Texas Leaguer]

Attached is the 1.77 I bought that was an EGL NY. @DejaWiz helped me upgrade to a 4.2 LGD that my wife loves now. We decided to get the stone GIA graded because no jeweler was really trusting the EGL NY cert. GIA sent back the follow. Any questions I should ask or ask them to regrade anything? I can't say I'm not surprised as I figured GIA would be 1 grade lower. They didn't send a pic of the cert or the images of the blemishes on the diamond yet.

The real shame is that the stone got dinged for polish. Triple Ex is now a standard for the trade. A potential buyer will have to reckon with that issue in their bid.

I would ask GIA if they can describe the problem with the polish. It could be a wear issue and confined to a facet or two. Might be a fairly easy fix. However, it will still cost money to put it on the wheel, so might not get you too far in terms of your eventual net.

At least you will know if it is a minor fix or some other issue that can't be easily remedied when you negotiate with a buyer. There is indication of surface graining which could potentially prevent the stone from getting an Ex polish.