Once upon a time, I was an idiot. Not too long ago, apparently. OK, 2 weeks ago, before I knew about PS. Here’s the short version of what happened.
I bought a stone from a mall store. Never in a gazillion years would I think I''d make that statement. Don''t even ask how it happened.
Anyway, I was skeptical, but the salesman showed me the EGL International Cert (I know, I know, don''t laugh – if only I knew then what I know now) – 1.92c, D color, SI-1, ideal cut, ideal proportions, ideal symmetry (it said all that in the Cert). All this for only 13K!!!!!
Now, I knew from the online searching that I had done that this was an incredible price for a stone of that quality. I told the salesman that I didn’t want to look a gift horse in the mouth, but if it sounds too good to be true, it probably is, so what’s the catch here?
He laughed and assured me that there was none – all the usual salesman BS and I fell for it. Business is slow, he’d rather make less profit now and have a new customer for life, blah, blah.
I told him that I had heard that EGL was a little “liberal” with their ratings. He assured me that was just sour grapes from those who did not carry EGL stones, that he had GIA stones as well (but of course not that fit what I was looking for), that EGL could not continue in business throughout the world if they really weren’t on the up and up, blah, blah. He said even if the stone is “only” E and SI-2, it is still a great deal. He showed me the Rap sheets.
OK, you can all stop laughing at me now.
Not only that, but his store had an arrangement with Wells Fargo and I could apply for 12 months “interest free, payment free” financing. And, he asked if I had any friends outside of California, because he could ship it them and they could ship it to me, and I’d thereby save about $1,000 in sales tax.
I took the bait. I swallowed the hook, the line, the sinker, the rod, the reel, the gaffing hook, etc. No wonder I have indigestion.
To continue . . . while waiting for the stone to arrive, I discovered PS. And I got worried. So, when the stone arrived, I made an appointment with the San Diego Gemological Lab (is it ok to mention them on PS?), which I’d learned somewhere was a small, one-man operation, with integrity. Besides, I needed an appraisal for insurance, which he would perform for a fee of $95.
I met with him yesterday. He was all business. He took the stone and the Cert, looked at the plot and then at the stone, and even before putting it under the scope said there was no way this was SI-1. Gee, that made me feel good! From his tone, I somehow knew it wasn’t VS-2 either! He did NOT ask me what I had paid until after he was all through with his analysis and told me what he thought.
He went through all his tests and processes while I sat there, let me look at it under the high powered microscope, and explained the problems he was having with what was on the Cert. As the Cert referenced a laser inscribed number on the stone, he confirmed that it was indeed the same stone. He showed me where the Cert had failed to plot a feather that he considered significant, both in size and location. He said that the stone was nearly an I-1, but that he could justify it as SI-2, but no higher. He disagreed with the D color, and rated it E. He said that the girdle was not “very thin to medium” but was “very thin to thick”- way too “wavy” he said. He said that a stone with “ideal symmetry” would show sharp points that lined up with each other – which this stone did not have. In his view, this was a good cut, but not an ideal cut, which is what the comment on the cert had said.
He showed me a black book, similar to a Kelly blue book for cars, and said this is the real data that jewelers use when they purchase diamonds from each other. Not rap sheets. Of course jewelers are entitled to make a profit, and he told me that mark ups vary as follows: 10-15% on the internet, 25-35% at a free standing bricks and mortar store, and 45-85% at a mall store.
Bottom line – my diamond has a replacement value equal to what I paid – but it was not what I was told I was purchasing.
I told him I was going to seek a refund. I went back to the store and told the manager what had happened, showed him my new “independent” report, and demanded a refund. I said, “Look, it may be worth what I paid for it, but that’s not the issue. I didn’t want a stone of this quality – maybe I don’t want to pay can’t afford a stone that is truly He wasn’t going to oblige me. He wanted to know what my lab examiner’s credentials were. Fortunately, he had a page of credentials included in his report. I told the store manager, “Tell you what- send this stone to either AGS or GIA. If it comes back graded the same, I’ll keep it. If not, you give me back my money.”
He said, “Oh, I know it won’t come back the same – one grade will be higher and one will be lower”. I said, “Really? Well it can’t go any higher than D, and I sincerely doubt its going up to VS-2!”
Well, he took the stone and agreed to send it GIA. He said that it’ll be up to the owner what happens after it comes back from GIA.
I went home and wrote a letter to Wells Fargo, telling them I much of the foregoing, and that inasmuch as I had been duped by the store that arranged credit through them, I did not intend to pay for the stone, which is no longer in my possession.
Stay tuned . . .
Doubleb
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