Diamond, Estate and Antique Jewelry Appraisal by a Certified Antique, Estate and Diamond Jewelry Appraiser located in Manhattan, NYC

Diamond, Antique and Estate Jewelry Appraisal

EMail: Appraiser@Jewelry-Time.com

Tel: 212 489 6553

Previous Jewelry Appraiser for Christie’s NYC

Diamond Appraisal & Antique Jewelry Appraisal

by Mark Bunda, FGAA, AAA.

Gemologist

Sample Cost of "While-U-Watch" Diamond Appraisals

For GIA/AGSL certified diamond to 1.10cts. in standard rings.

Certified

New York, NY 10020

                      Call 212 489 6553 for a obligation-free quote

Member

Click here for Appraisals to Sell Jewelry

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In 1973 I became involved with the Decorative Arts in my Family’s Antique Business in Australia that specializes in Diamond, Pearl, Antique & Estate Jewelry. In 1987 I relocated to NYC where I worked for the auction house Doyle New York. In 1989 I took up a position with Christie’s Jewelry Department on Park Avenue where I provided Diamond, Antique & Estate Jewelry Appraisal, Estimates & Condition Reports. In 1992, I established my own Jewelry Appraisal business at my present location within Rockefeller Center in NYC.

As an active Diamond, Antique & Estate Jewelry Appraiser, it is my responsibility to give client's the professional, impartial and non-biased information they need to know.

Mark Bunda, FGAA, AAA, BFA

Retailers of high end Diamond, Pearl, Antique & Estate Jewelry

A leading US Auction House

Appraisers Association of America

Currently serving on the Board of Directors 2007 - 2010,

Certified Member,

Mentor: Vocational Training Program,

Uniform Standards of Professional Appraisal Practice

Gemological Association of Australia

Gemologist Qualification

Gemological Institute of America

Diamonds Certificate, Alumni Member

University of New England (Australia)

Since Vincenti Peruzzi, a Venetian lapidary who lived in the 17th century and who was one of the first diamond cutters to learn how to unleash diamond's fiery brilliance from the hardest of gem roughs, the art of diamond cutting and the discussion of what constitutes the “quality” of the cut has remained the most elusive factor in evaluation of the Famous Four C’s of Diamonds.

So elusive that one of the most recognized world authority's on diamond, The Gemological Institute of America (GIA), has only this year introduced a Diamond Cut Grading System after 15 years of development. Systems for the other three C’s; Color, Clarity & Carat have been developed and used over generations.

During the course of their research, the GIA performed over 70,000 observations “that can predict the cut grade for more than 38.5 million proportion sets.”[1] The GIA Grading scale consists of five designations: Excellent, Very Good, Good, Fair and Poor.

The GIA cut grading system clarifies cut for a lot of people including consumers but not everyone in the diamond industry is happy. The detractor’s basic position is that cutter’s will change their cutting style in attempts to obtain the highest grade possible when submitting stones to the GIA for certification. They argue why should the GIA have the last word on what determines a well-cut stone? Well they don’t.

The first leading laboratory to issue cut grades for fancy shaped diamonds was the American Gem Society Laboratories (AGSL) that was founded in 1996. Interestingly enough, The American Gem Society was established in 1934 by a select group of independent jewelers and Robert M. Shipley, who was also the founder of GIA in 1931. “The AGS Cut Grading System considers not only the proportions of a diamond, but also the craftsmanship of its overall symmetry and polish. Most importantly, it uses technology to analyze the cut’s impact on diamond’s overall performance. This results in three categories of the AGS Cut Grade — Light Performance, Proportions, and Finish.”[2] The AGS grades clarity, color and cut on their own scale from 0 – 10 (0 being the highest grade) and then they go one step further by assigning an overall grade for these three factors. Again a convenient package for consumers to understand highly technical opinions from qualified professionals.

There is an abundance of other cutting information available in the marketplace but none is as reliable and simple for consumers to understand as the GIA & AGSL systems. Both also include all the other information required in evaluating the quality of a diamond such as Carat weight, Color, Clarity and well as testing for diamond treatments or synthesis.

As simple as these two systems appear there are still pitfalls for the amateur diamond buyer considering that the purchase of a quality diamond is an expensive transaction.

1. Price.

Neither lab mentions anything about value because they are purely gemologists. To determine the “ratio of wholesale/retail/luxury value” that a paying price represents, buyers should seek out a consultation from a qualified appraiser who can advise them accordingly. An insurance appraisal should not be used for this purpose unless it addresses “relevant marketplace”.

The issue of relevant marketplace arises in the US because there are at least five relevant marketplaces where American consumers can buy diamonds.

1. The "hard end" wholesale market on 47th Street which is quite porous to retail buyers,

2. Mass marketer’s which address the low end of the retail market with cheaper goods,

3. Local family based jewelers who are the more the traditional retail environment for better quality stones,

4. The Internet, which is accounting for more low & mid range sales everyday, and

5. The luxury market where beautiful Hi End Branded Diamonds are sold.

With regards to Insurance appraisals, a buyer should ask for guidance from their appraiser on which marketplace is relevant for them if they were to experience a loss.

2. Verification.

Buyers should confirm with a qualified appraiser that the information on their certificate is correct as mistakes can happen from time to time.

Clarity grading is still more of an art than science since grades express a verbal description rather than empirical measurement. To a lesser extent, color-grading inconsistencies exist due to the human involvement in the determination. Verification should also confirm that their certificate is authentic, as counterfeits do exist.

For Insurance: Retail Replacement Value

Retail Replacement Value is defined as the price it would cost to replace an item with one of similar and like quality purchased in the most appropriate marketplace within a limited amount of time.

For Estate or Gift Tax & Selling: Fair Market Appraisal

Fair Market value is defined as the price at which property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of relevant facts. The values are what the buyer would pay which may not necessarily be what the seller would ultimately receive if selling expenses had been incurred.

For Selling & Equitable Distribution: Marketable Cash Value Appraisal

Marketable Cash Value is defined as the cash price a willing seller would receive for property, net of all selling expenses, from a willing buyer, neither being under any compulsion to buy or sell and both having reasonable knowledge of relevant facts, within a reasonable time period and in a relevant market.

For Loan Collateral, Insolvency & Bankruptcy: Liquidation Value is used

Liquidation Value is defined as the price realized in a sale situation under forced or limiting conditions and under time constraints. This action may be initiated by the owner or a crediting institution and may not necessarily take place in the most appropriate marketplace.

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