Where/how to sell large diamond

[Dcq]

I recently inherited a large diamond (5ct+) and am not sure what next steps are. It is in the process of being GIA certified but I want to sell soon after it returns from that. Any guidance about not getting ripped off with a diamond that size?

 

[sledge]

Just my 2 cents but I would see what the GIA report shows before you make a final decision. If it's well cut, maybe you move on with your plans as-is. If not, maybe it's worth having re-cut to maximize fire while retaining weight.

Do you have insurance on it yet? That is where I would start.

 

[Dcq]

I’ve had an initial appraisal and it’s a brilliant round from the 60s, appraiser said very good cut so don’t expect I’ll need to recut it at this point

 

[soxfan]

I’ve had an initial appraisal and it’s a brilliant round from the 60s, appraiser said very good cut so don’t expect I’ll need to recut it at this point

Very good is not good- Most consumers want excellent or ideal cuts. I'm glad you are getting it certified, you will not get serious buyers without the cert. Once the cert comes back, you can consider selling as is or a re-cut. I think you will make more money on it if it is cut to ideal proportions.

 

[denverappraiser]

Have you talked to your appraiser about this? Many are pretty familiar with the issues.

 

[sledge]

Agree with @soxfan. Very good per GIA standards is a stone myself and many others here won't recommend or buy. Even a majority of GIA excellent stones are a far cry from excellent.

That said, the market is flooded with stones cut to proportions simply to maximize weight in an effort to jump into higher $ per carat categories and/or hit magic weights in an attempt to maximize profit.

For instance a 4.9x carat ideal stone might sell for less than a VG/excellent 5.1x stone despite the 4.9x being better cut, more beautiful and more desired. I could also argue you are likely to find a buyer more quickly for the hypothetical 4.9x carat stone due its desirability.

 

[SimoneDi]

As someone who has gone through a diamond recut 3 times in the past, I will say that it is not a risk-free process. A lot of things can go wrong and unless someone is doing the recut for their own benefit, I would absolutely avoid doing it before a sale. If the stone is currently exactly at the 5ct mark, recutting it will mean that the stone will fall below the 5ct mark which will drastically reduce the value and it would not be a recommended approach IMO. Many looking for a 5ct stone are not in the market for an “ideal cut” per se, they are looking for a large, bold diamond. If the potential buyer wants to recut it afterwards, they can do that at their own will, risk and expense.

OP, post the GIA details once you get the report. There are some posters here that might be interested in a 5ct stone.

For a private sale, some appraisers can facilitate the sale since it will be a large ticket item.

Additionally, consignment is a good alternative. Jewels by Grace is know to sell large diamonds and would probably be my first choice as she has a very large audience.

 

[arkieb1]

Try listing it on Loupetroop with the help of someone like David Atlas or one of the registered valuers above to help if needed. Otherwise, Grace at Jewels by Grace or Erica at Love Affair on consignment.

 

[canuk-gal]

HI:

Auction house?

https://dupuis.ca/

cheers--Sharon

 

[TreeScientist]

I agree with @SimoneDi: If it's right at or near 5 carats (like 5-5.1 carats) then I would not have it re-cut. It will lose value if it drops below 5 carats. I would only look into having it re-cut if it is significantly above 5 carats (like 5.3-5.4 carats) and then I would only trust it with a master cutter like Brian Gavin. If Brian said he would be able to get it to Ideal cut specs while safely staying well above 5 carats (to give a margin for error), then it may be worth it to consider recutting from a monetary perspective, as a 5.1 carat Ideal cut is going to be worth more than a 5.3 carat Very Good cut. Otherwise, not a chance.

Once you have the GIA certificate, it would definitely be worth it to look into a trusted diamond/jewelry consigner like Love Affair Diamonds or Jewels by Grace, and/or get the opinion of David Atlas to know what your diamond is worth before you sell.

 

[sledge]

Ugh, sometimes I regret saying things. Obviously you wouldn't want to do a re-cut if there was a real probability of damaging the stone or if you had to lose considerable amount of carat weight to make the re-cut feasible.

To truly make a decision rather a re-cut is a good decision or not would depend on many factors. One being the exact weight change, as I do agree that overall diamonds of higher weights typically trade for a higher price per carat.

We can see this by looking at some historical pricing data:
https://www.pricescope.com/diamond-prices/round#4-4.99

Average Prices:


Lowest Prices:


Just randomly picking criteria, let's pretend your stone is an F VS2. Looking at the historical charts we can determine the following:

• Average value of 4-4.99 carat F VS2 is equal to $25,079 per carat
• Average value of 5-5.99 carat F VS2 is equal to $31,810 per carat
• Lowest value of 4-4.99 carat F VS2 is equal to $13,847 per carat
• Lowest value of 5-5.99 carat F VS2 is equal to $28,318 per carat

We can see that is a pretty wide spread. So if you click on the values in the charts, you get a real time dossier of available stones. At this point in time, we can see the following stones are available in the two different broad categories:





Keep in mind, I haven't researched any of these stones so I don't know their cut quality, angles, etc. Blindly and broadly looking at the data I can determine the following:

• I can reasonably assume for $153k or less I can pick up a stone in the 5.00 to 5.09ct range. At 5.11ct I see prices take a considerable increase to nearly $170k.
• I can also reasonably assume that for a 4.76ct to 4.99ct stone I can get (well, at least set a sell price) about $148-$170k if I were selling a stone this size.

Now I'm curious and will take a mile-high look at specs. A quick 2-second look tells me the 5.02ct is a deep & steep stone made to make the 5ct mark with a 63.3% depth and 34.5/41.4 angle combo. The two listed were identical stones. Cut grade of very good by the way.

The two 5.01ct stones are identical as well and have a 61 table, 60.6 depth and 34.5/41.4 angle combo. Technically an "excellent" cut per GIA but on the fringe of very good.

FYI, the 5.11 has a 59 table, 59.4 depth and 31.5/41.4 angle combo. It falls in ideal criteria per the AGS proportions charts, although it's not a stone I would personally pursue.




Both the 4.93ct stones are the same stone, just a different supplier. 60/60 style with 31.5/41.8 angle combo. The 4.76 has a 57 table and 33.5/41.4 angle combo and also hits excellent per the AGS proportions charts.

In conclusion, I wasn't overly awed by any of the stones. It seems small differences in weights had a different perception in the live market place vs what the historical charts told us. One thing is certain, there isn't many 5 carat stones walking around.

I'm not advocating for a re-cut, but I think a little more math and history needs to go into the equation before just making a blanket statement it's the wrong decision.

As with any project (diamond related or not) you always have to analyze the risks, market, demand and your own capabilities/willingness to determine if you want to participate in that project and at what level you want to go in an effort to maximize your reward for associated risk exposure (profit).

 

[WinkHPD]

I’ve had an initial appraisal and it’s a brilliant round from the 60s, appraiser said very good cut so don’t expect I’ll need to recut it at this point

I know that you have had several replies stating that very good is not very good. However, was your appraiser using GIA speak, in which case very good is not really very good, or was he using people speak, ie saying that your cut is very good and meaning that it is very good?

It will be interesting to see what the report from GIA says when it arrives.

Only then will we know for sure.

Wink

 

[Wewechew]

I know that you have had several replies stating that very good is not very good. However, was your appraiser using GIA speak, in which case very good is not really very good, or was he using people speak, ie saying that your cut is very good and meaning that it is very good?

It will be interesting to see what the report from GIA says when it arrives.

Only then will we know for sure.

Wink

Would any stone cut a half a century ago have been cut to today's excellent or ideal proportions? I assumed all stones that old would be very good cut at best.

 

[Dcq]

Thank you for the helpful feedback! I will post specs once the stone is back from GIA. I just don’t want to get ripped off trying to sell this thing...

 

[Dcq]

Have you talked to your appraiser about this? Many are pretty familiar with the issues.

I have but he’s also a buyer. He’s the one handling the GIA cert process for me... I could sell to him but I want to know my options and make sure I’m getting the most out of this windfall...

 

[Emeraldsaremyfavorite]

Erica, Love Affair Diamonds. The best to work with and takes the least. Cannot say enough about her!! She is so patient, knowledgeable, and works her butt off to sell your product! Deifinitely reach out to her. That’s if you decide to sell

 

[denverappraiser]

I have but he’s also a buyer. He’s the one handling the GIA cert process for me... I could sell to him but I want to know my options and make sure I’m getting the most out of this windfall...

Yep. That's one of the reasons people use independent appraisers for questions like this.

 

[scarsmum]

Did you take a photo of it before sending it off?

 

[WinkHPD]

Would any stone cut a half a century ago have been cut to today's excellent or ideal proportions? I assumed all stones that old would be very good cut at best.

There were some very nice diamonds being cut back in the seventies by the "3 K's", Kieger, Keppie and Kaplan. No, they were not Hearts and Arrows, but being a Hearts and Arrows is not a requirement for an Ideal cut.

I suspect that few would make the mark today, but I know some of them would have as I bought and sold several of them back then. Even then, better cuts were more expensive that diamonds cut for weight retention rather than beauty.

Wink

 

[Paul-Antwerp]

While Wink is right that there were exceptions cutting very nice quality a few decades ago, I need to add some perspective. Still, with no real data in hand, this is also speculation.

In essence, one should look at the cutting of a lower cut-quality as a search for a hidden premium. How can the cutter create more value for himself from the same rough, without being penalized? Obviously, the answer is closely connected to the average value of the diamond.

If we are talking about a diamond with larger average value (because of size, color and clarity), each extra point hidden gives the cutter a higher premium than when we are talking lower size, color, clarity. Hiding an extra 0.01 Ct to a 5 Ct. D-IF is far more rewarding than adding an extra 0.01 Ct. to a 1 Ct J-SI1. Attractive is also that adding extra points to a 5 Ct is generally easier than adding them to a 1 Ct.

As a result, still today, you will find far more hidden weight in bigger diamonds and in D-IF than in smaller lower color-clarity stones. It is a logical consequence of the trade concentrating too much on the 4 C's, while most consumers in essence prefer sparkle as their first desire.

Live long,

 

[Dcq]

Hi all

Got the diamond back from GIA grading today and you’re right the cut is meh— rated as Good. Full stats are 5.25, D SI2, with Very good polish, no fluorescence, but fair symmetry.

Suggestions on how to proceed much appreciated!

 

[SimoneDi]

5.25 ct D is it eye-clean? Can you please post a copy of the report? If it is an early MRB, it could be a transitional cut as well.

 

[Dcq]

5.25 ct D is it eye-clean? Can you please post a copy of the report? If it is an early MRB, it could be a transitional cut as well.

Here’s the report. I stand corrected 5.24 not .25

 

[Dcq]

Here’s the report. I stand corrected 5.24 not .25

Oops https://www.gia.edu/report-check?reportno=1192699190&s=1538073517875

 

[TreeScientist]

5.25 ct D is it eye-clean? Can you please post a copy of the report? If it is an early MRB, it could be a transitional cut as well.

Yes, definitely post the stats. In this carat range, it very well may be a candidate for a re-cut to bring it up to the GIA XXX. For re-selling purposes, it probably doesn't matter if you can get it to SuperIdeal H&A specs, as most of the world sees GIA XXX as the pinnacle of diamond cut. At this point, I think it would be wise to contact a diamond cutter with the current GIA specs to see if they would be able to get it to the (rather broad) GIA XXX range. You've got .24 carats to work with while still keeping it above 5 carats, which may be enough.

 

[TreeScientist]

Oh wow, I just saw the report. That diamond was definitely cut for weight retention. Still, it may be possible to take some weight out of the crown by making the crown angle more shallow and the table smaller to get it to GIA XXX. If a cutter couldn't get it to GIA XXX though while still remaining above 5 carats, then it probably wouldn't be worth it to re-cut.

 

[SimoneDi]

Ditto @TreeScientist. The other point to make is that you might or might not want to spend money for recit and recertification. A recut will cost around $2k plus certification.

I would contact JbG with the current GIA report and see what she says regarding current value. You never know what people out there are looking for.

 

[KKJohnson]

Post a photo or two!

 

[bmfang]

Yikes for the proportions on that stone. The crown was definitely cut for weight retention. My gut feeling is that any recut would end up bringing the stone under 5cts given that you’d be trying to get the CA down by a significant number of degrees.

Still, would love to see pics of this windfall you have received OP!

 

[arkieb1]

Not everyone wants a perfectly cut diamond. People here are fanatical about cut, but a lot of prospective buyers value size over cut quality. Is the stone eye clean? That will be a significant factor on estimating what it is worth as well.