Should I have buyer''s remorse?

[kennyg]

Hello all -

I am a first time poster here but found this site to be amazing. I used it to do a lot of research and felt confident going in to buy my very first (and only) diamond engagement ring at a brick and mortar. I am now home, and in hindsight I am questioning my decision - did I overpay? Did I do some things wrong? The shop has a 30 day period to evaluate the ring, so I am hoping with your help I will know what to look for during that period.

Here are the stats:


2007 GIA Report:

Round Brilliant
Measurements: 7.50 - 7.54 x 4.39mm
Weight: 1.52
Color: H
Clarity: VS2
Cut Grade: Good

Depth: 58.4%
Table: 59%
Crown Angle: 32.5 deg
Crown Height: 13%
Pavilion Angle: 40.2 deg
Pavilion Depth: 42%
Star length: 50%
Lower Half: 80%
Girdle: Med - Sl. Thick, Faceted
Culet: None

Polish: VG
Symmetry: VG
Fluor: None

Setting: Natalie K brand, platinum with 0.43ct of side stones (picture below)

Total price: $12,390

My 3 questions are:
1. Is that a fair price to pay?
2. The Natalie K ring was in the store window for awhile. They are going to polish and shine it and put my stone in it. Should I have asked for a brand new setting instead of letting them polish an old one?
3. I think I saw tiny scratches on the top surface of the diamond that weren''t diagrammed in the GIA cert. My first thought was this could just be cleaned off since I haven''t heard of diamonds being scratched except by other diamonds before. After I bought it I began to wonder if my stone is not as good as it says on the cert and those scratches are permanent?

I think because I got excited in the store and have also spent a long time looking, I was eager to close the deal today and fear I may have ignored my better judgement. Any help you folks can offer would be much appreciated!

 

[Sharon101]

First, I am no expert but you have come to the right place. Plenty of people do what you have done, are perfectly happy and dont give it a second thought. You have probably bought a nice looking diamond in a quick and easy way.

However, if you want to get the very best deal, it takes some extra time and effort. Its not for everyone, as it involves learning and research and comparing and lots of time and attention to details.

I personally think its worth it, but it is a personal decision.

Some of the things that jump out at me is....did you bargain in the shop...if not, you probably did overpay as most shops have room for a discount of some sort. Did you get a discount on a shop soiled setting, if not you should have requested a brand new one made to fit your partners finger size.

The diamond scratches would worry me...need some expert opinions about that!

And lastly, you did ok if you can return it....nothing lost at this point, you have choices.

Im assuming that this is what your partner wants too in terms of shape and design, because that comes into the equation too.

 

[Regular Guy]

For structural things like scratches, I''d recommend an independent appraiser.

I don''t see any problems with the setting, and I think it''s attractive. Do you know what it would be valued at by itself?

The proportions of the diamond seem on the one hand...irregular...but on the other hand...after running through the HCA...they seem to work OK. It may be the oddness of the proportions got you a free setting, since I cipher the diamond might otherwise be valued alone at the price you paid.

Also, you''ve seen it & liked it.

After taking it to an appraiser...take it to places with known quality diamonds...Tiffanys Hearts on Fire, an AGS0...confirm for yourself you''re not missing something else you might want more. You may well have done fine.

 

[kennyg]

Thanks for the quick reply. I did bargain but towards the end wasn''t as diligent: I visited 1 month ago, looked at 2 diamonds and the setting. I kept him at $12K for the whole deal, not including 7% sales tax ($12,840). For 1 month I played with Pricescope and some of the tools like the HCA tool and determined I liked one of them. 1 month later that wasn''t available, so he gave me the GIA Cert for the one above. It rates excellent in HCA and is a good color. The first diamond was I VS1 1.52ct, this one is H VS2 1.52ct. We ended up at $12,390 including tax, which saved me about $450 dollars off the quote one month ago. But I did not ask for a discount based on the floor model.

Interested in other opinions. I ordered it today, I am thinking of calling back in the a.m. to request a new setting instead. I don''t know if they will try to change the price or claim work was already done to size it, but I believe they can reverse sizes by adding or subtracting metal from the band?

 

[Dee*Jay]

Hmmm... let me caveat this by saying I am no expert, but personally I would not buy a diamond with the angles and depth/table that this one has. Hopefully Garry or someone else more knowledgeable will chime in and give some advice on this stone but I'm not loving it at all, especially on the "good" light return. I think the reason the other factors come up so favorable, especially the spread, is that that the diamond is relatively "squished" from a table to culet perspective, although it does have a rarher thick(ish) girdle to take into account.

 

[kennyg]

For the life of me I can''t find prices for that Natalie K semi-mount on it''s own. It''s a platinum band and has a product number of NK1555. I thought I could estimate based on the weight and price of platinum but I can''t find the weight and I''m not sure how much the designer label Natalie K increases the price.

However the first diamond I saw which was an I VS1 1.52ct he was giving me for $10,460. I don''t have a loose diamond price for the one I bought because we talked about the whole package. But on his jeweler''s website he lists it at $11,000. Similar 1.52ct diamonds that are H VS2 on Pricescope are in that range.

A quick check of the Pricescope Rappaport generator tool for 1.52cts shows that if my loose diamond was in the $10,000-$11,000 range, that matches the average price list but not the lowest price list.

If my diamond was $10,500 for argument''s sake, then the designer setting cost $1,890. Is that overpriced? I don''t know, but glad this forum exists as a place to ask. . .

 

[Sharon101]

Ok, its great that you negotiated...it adds to the pleasure imo to get a discount if possible.


I forgot to mention that the ring is very attractive.

Do look into the scratches, that would be my main concern, as well as getting a rough idea about comparative prices.

Im not saying it isnt worth it to get the `best` price, but it boils down to your shopping style. For some the searching is down right stressful, whiles others are motivated by knowledge that they will truely get the best deal possible.

Good luck.

 

[Chase035]

You should look at some of the info under diamond knowledge on pricescope''s toolbar. There is also a great tutorial on goodoldgold.com. As you may know, a diamond''s cut has a big effect on its visual performance. Have a look at the cut advisor under tools on the toolbar and you will see the cut adviser. For a GIA "good" cut diamond, the adviser estimates that the diamond should have excellent fire and scintillation but only good light return. If you aren''t sure you''re happy with the stone you have, or if you are starting to worry cut matters to you more than you realized, try looking under prices on the toolbar for price comparison. At first glance, I''ve found some H VS1 excellent cuts from Blue Nile in the $10,700 range if you''re willing to drop down to 1.45 cts (http://www.bluenile.com/diamonds_details.asp?pid=LD01194719). In a stone of that size, I''d want an excellent or very good cut. That''s just my personal preference, but it depends on your budget and how happy you are with what you have once you''ve done some research.

 

[kennyg]

Great points all. I am ok with plus or minus $500, i.e. $11,500-$12,500 for this ring. Time and energy spent looking was a factor in my buying it outright. I have to say I was swayed more by the HCA score of 1.9 (Excellent) than my own judgment, but I did hesitate regarding those scratches and because I thought the stone looked "dark". However we looked at several other stones that were H, G, D color and they looked similar.

But I am learning even just from this thread that it is cut that might affect that "darkness" more - good info to know. So far in this short time I know I will do the following next:

1. Make sure to let them know I want a new setting and not the one from the window.
2. Take a look at the final set diamond. If it is "dark" or not ideal, I can ask to look at another diamond. I believe it is easy to swap out the center diamond. . .my concern is they show me more expensive ones or lesser quality ones for my original price. If this happens and I can''t get a stone I''m satisfied with - I will try to return it. I imagine even though they have a 30 day policy this might be difficult, as they will want to try to replace the stone first, but I will see how it goes. . .

 

[Ellen]

Date: 10/26/2007 10:44:38 PM
Author: Dee*Jay
Hmmm... let me caveat this by saying I am no expert, but personally I would not buy a diamond with the angles and depth/table that this one has. Hopefully Garry or someone else more knowledgeable will chime in and give some advice on this stone but I''m not loving it at all, especially on the ''good'' light return. I think the reason the other factors come up so favorable, especially the spread, is that that the diamond is relatively ''squished'' from a table to culet perspective, although it does have a rarher thick(ish) girdle to take into account.

Ditto everything said here.

Does the jeweler carry any AGS0 (graded for light performance) stones? If so, you might have a bit better luck with one of those.

As for what this one get''s on the HCA, yes, the number score is good, but look where the x falls. FAR away from AGS Ideal and GIA Ex territory. Ideally, you want to be inside AGS, or close to....