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diamondsbylauren

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 Pink diamonds, canary diamonds, white diamonds with GIA reports- from "D" to fancy vivid yellow. We manufacture the finest custom made platinum rings-and Microset Fancy Color diamond rings necklaces and earrings, and men's jewelry as well. Please check or listings for our toll free number

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  • Questions about GIA and Gem Labs
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pink and natural oval diamond Canary GIA

   
 
 

A word about Gem Labs, and how they relate to diamond buying.

When it comes to high dollar diamonds, very slight differences in appearance ( grades) can create HUGE price differences.

For an example, let's compare two hypothetical diamonds. Let's assume both have been graded by GIA, and both are really well cut.

One is a D Internally Flawless 2.00 Round Brilliant, at about $70K+

The other is a E/VVS1 2.00 Round Brilliant- at around $46k+

The imperfection which constitutes a VVS1 is microscopic- yet it can cost the cutter $24,000 in this hypothetical example.

To prove a D/IF is actually internally flawless, no dealer will accept anything short of a GIA report.

What would a dealer pay for the same D/Internally Flawless Diamond prior to GIA grading it?

Hard to say exactly, but surely the highest price a buyer might pay would be the price of E color VVS1. For this reason, cutters need to use GIA - there's a lot of money at stake.

Hypothetically speaking, a 2.00 round diamond that GIA graded E/VVS1 might be sent to a lesser lab who might call it D Flawless. Now what's it worth?

In my mind, there's simply no reason to risk buying a  "high grade" diamond for market price, without a GIA report to back up the claims of the seller regarding the grade.

When I say "high grade" that means top dollar diamonds. If we are speaking of colorless diamonds, I'm talking about I color and better- SI2 clarity and better.

J-K colors, and imperfect diamonds are more commonly offered without GIA ( or with lesser reports) But if we compare the prices of D and E above with a typical $8k K-L SI3 2 carat, it's easy to see why the presence of a GIA report means less.

Now if it was a 1.00 at $8000- then it had BETTER have a GIA report.

Gem Labs and Fancy Colored Diamonds

We deal in a lot of Fancy Color Diamonds.

The cutter has a Fancy Intense Yellow which is one of the darkest I've ever seen- he feels it's a vivid- and it asking 20% above the price of an intense. I have not bought the diamond, but I understand why he feels the way he does.

Since the grading if diamonds is really more of an art than a science, there are "borderline" diamonds which GIA might call- say VS1 one time- and VVS2 another.  For me, as a trader- I live with this as a fact of life. Say we buy a diamond from our cutter before it has a GIA report, and we think it's Fancy Intense Yellow -say it's would sell for $20k.

Say we send the diamond off to GIA who grades it Fancy Yellow- which sells for $15k- well, the diamond is now worth $15k.

What if we sent it to JGL ( Joe's Gem lab) who gives it Fancy Vivid Yellow- is it worth more? No, it's probably worth a lot less than the diamond with a GIA grade of Fancy Yellow.

Bottom line again: On high dollar Fancy Colored Diamonds, accept nothing less than GIA. Many lighter yellows, and browns are commonly traded without GIA reports.

 

 

 

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