As mentioned in a previous blog article, since our inception in 2010, Have You Seen the Ring includes a verification step in our sales process which has benefited both buyer and seller.
Along the way, we have made a number of observations about the information contained in sellers’ listings. We’d like to share some of these learning’s with you.
Evidence of a GIA, AGS or IGI Certificate is GREAT
Items that contain information taken directly from a GIA, AGS, or IGI certificate in the listing and include further evidence of this certificate in the listing, such as a photo of the certificate or the certificate number, are accurate.
When we sell an item that contains this information we are very happy as we know that the information contained in this listing will be accurate 100% of the time.
What to Expect With Evidence of an EGL Certificate
Items that contain information taken directly from a EGL certificate in the listing and include further evidence of this certificate in the listing, such as a photo of the certificate or the certificate number, will be marginally over stated.
EGL is a popular and respected diamond authority, however the EGL grading of diamonds is not as accurate as an GIA grading.
If a diamond was graded an ‘F’ color by the GIA, most likely it will be graded an ‘E’ color by the EGL.
If a diamond was graded an ‘SI2’ clarity by the GIA, most likely it will be graded an ‘SI1’ color by the EGL
We normally expect at least one of these categories to have been overstated by the EGL, in the past it was a sneaky method taken by the EGL to sell more diamonds.
Evidence of an Appraisal by an Independent GIA Graduate Gemologist
We expect a similar high quality listing to that of a diamond that includes a GIA certification.
Evidence of an Appraisal by a non independent gemologist
Any appraisal provided by gemologist who has a vested interest in the sale is deemed to be non independent.
What we often find is that the carat size is marginally overstated, for example a 1.35 carat diamond graded by an experienced independent GIA graduate gemologist will be appraised up to 1.37 carats by a non independent appraiser.
Likewise would expect an item that is listed as E color to be actually be F, we anticipate a VS1 clarity listing to be VS2.
No Certificate or Appraisal Provided
Surprisingly the information contained in these listings tend to be as accurate, if not more so than a listing which includes an appraisal from a non independent gemologist
Sellers Provide Information as Accurately as they Possibly Can
Items that are listed on HYSTR have been reviewed and manually approved.
An item that looks suspicious is not approved.
As a result, we find that the information contained in a live listing is accurate to the best of the seller’s knowledge.
If there is inaccurate information, this has come from an unscrupulous, non independent appraiser, who has marginally overstated the size and quality of the diamond for their financial benefit.
Summary
You must be nuts if you are buying expensive jewelry online that hasn’t been verified
Look for jewelry that comes with a GIA, AGS or IGI certificate
EGL certified jewelry isn’t not graded as strictly as other diamond labs (GIA, AGS or IGI)
Appraisals from non independent gemologists are marginally overstated
Approved sellers provide information that is accurate to their knowledge
Labels: Importance of Verification