Crown of Light Diamond (R)by Richard Armstrong on 05/28/12
The other day had an opportunity to appraise a ring with a Crown of Light (R) Diamond. I must confess that when I was first approached, I referred the lady to another gemologist as I did not feel competent to appraise it. However, I did some research on line, and after an exchange of several emails she brought the rint ot me for appraisal. Her husband bought the ring when they were on a cruise. She had shown it to several jewelers who told her she had been taken.
For those who are not familiar with the Crown of Light (R) diamond, it is a patented diamond cut sold only by Diamonds International (R). The COL diamond is characterized by having 90 facets, a high domed crown, and greater depth than the traditional ideal cut diamond. Of course I was skeptical, being trained to grade diamonds based on the GIA and AGS ideal cut propoprtions. But, when I saw this diamond, I was literally blown away. It was brilliant with lots of fire. And the design of the ring with 30 small side diamonds was exquisite.
The center diamond, a 0.34 ct. round COL, according to the sales document was an H-I color with VS1 clarity. My grading showed it to have H color and as far as clarity it appeared to be better than VS1. I could find nothing in the diamond even at 45X. This could have been because the setting may have blocked part of the light in the dark field lighting of my microscope. The setting did make it difficult to examine the diamond. I was able to get good measurements of the proportions of the diamond which enabled me to calculate an estimated weight using the calculators in Gem Tools Pro. GT Pro gave an estimated weight of 0.33 ct only one point less than the stated weight. I was very impressed with the quality of the cutting. the diamond was perfectly round. The polish and finish was excellent. This tells me that the cutters were very professional and tood great pains to create a perfect diamond.
When comparing the value with traditional diamonds I found it comparable. Because this was a branded diamond and only available from Diamonds International (R) I appraised it at the purchase price. The reason for this is that with insurance replacement value one can not go with the market. When there is only one source, that appraisal must be done using that source's price.
Why did the local jewelers tell this client she had been taken? I can only guess that either they were put out because she bought it on a cruise instead of giving them the sale, or they just don't know the COL diamond, or they evaluate it it based on recuttint to ideal proportions. If recut to ideal proportions the weight would be reduced to about 0.25 ct. with a significant decrease in value. Valuation of a patented diamond by using the value after recutting is the wrong approach. There is value in the Brand, it is unique, so recutting destroys the brand. If an appraiser is not willing to evaluate a patented diamond on its on merits, then he or she should not take on the job. Bottom line, is it beautiful? In the jewelry business it is all about the "Bling".