Am I getting ripped off?

[Krisgh15]

Robbins brothers has the following lab made stone for $17,695. I have seen online the prices for comparable spec stones rang from 11k-17k. I know I can probably find it online for a little cheaper but prefer to see it in store. Am I get completely ripped off? What would you value the stone at? Is there anything in particular with the stone that stands out spec wise, anything to be weary of? Any input or advice is greatly appreciated.
Thank you,
Kris

 

[ChristineRose]

So the first problem is that the most consistent labs, GIA and AGS, will not grade a lab diamond. As this is a lot of money, I'd hire an independent appraiser to give their opinion of the color, cut, and clarity. Cut grade can be estimated with tools published by GIA and AGS online, but you might as well ask your appraiser to do it for you. That will give you some idea of whether it's the $11,000 or the $17,000 diamond.

The next problem is that there really aren't any comparables out there. An IGI stone will trade at a discount as it is likely to be overgraded; but you can't even compare to other IGI stones. So we're back to getting it graded yourself.

Finally if you want a lab stone, you have to buy a lab stone, which is to say, you're going to have to pay what the seller is asking. So the only way to price it fairly is to compare it to other lab stones, which you also have to evaluate without seeing them.

Given how much money you are looking at I'd say try to get stones with a good return policy and either have an independent expert examine them, or work with a jeweler which you feel you can trust and who is willing to bring in multiple stones for you. A lot of jewelers won't touch lab diamonds, but a local jeweler may be willing to get some and work with you if you ask.

D.NEA frequently posts in here, and they sell diamonds with estimated cut grades.

 

[ADN]

So the first problem is that the most consistent labs, GIA and AGS, will not grade a lab diamond....

...An IGI stone will trade at a discount as it is likely to be overgraded...

Hi Christine Rose

I have to comment on your two points above.
- First, GIA do grade lab grown stones - http://www.gia.edu/gem-lab-service/synthetic-diamond
- Second, many would argue that IGI are actually on par with GIA when it comes to the grading of loose stones - if you refer to previous IGI threads here on PS, you'll see that much of the resistance against IGI really has nothing to do with their actual grading ability.
[URL='https://www.pricescope.com/community/threads/advice-on-stone-especially-igi-color-grading.222255/']https://www.pricescope.com/community/threads/advice-on-stone-especially-igi-color-grading.222255/[/URL]
[URL='https://www.pricescope.com/community/threads/looking-for-help-choosing-princess-cut.222358/#post-4023227#p4023227']https://www.pricescope.com/community/threads/looking-for-help-choosing-princess-cut.222358/#post-4023227#p4023227[/URL]
Hope this helps

 

[ChristineRose]

Thanks ADN. My info is outdated obviously.

I've never been as anti-IGI as the main body of Pricescope but it's really hard to get a handle on the relative prices of an IGI stone. I found the best data at D.NEA which gives the mock AGS/GIA cut grades and it's still very hard to tell why the prices vary so much.

It makes it all but impossible to answer the question everyone asks, which is how much more/less do synthetics cost than mined stones? Most people who choose a synthetic have reasons other than saving money though.

 

[EEFranklin]

GIA does offer reports for synthetic diamonds, however they do not print a specific clarity or white color on the report, which is why they are rarely used. For example, if this H VS2 and a J VS1 were sent to GIA, they would both only receive a "Near Colorless, Very Slightly Included" grade.

IGI does a good job with grown diamonds. We have sent the same diamonds to multiple labs and IGI comes back the same, or in some cases more strict than GIA.

On AGS' system, this diamond should register as an Ideal cut. IGI's cut definitions are slightly different than GIA and AGS, but that is easy to cross-reference.

Every vendor and store prices their diamonds differently, so there isn't one universal price like with Apple products, for example. However, most grown diamonds sell for 10-40% less than comparable mined diamonds through similar channels, though you can also find a 10-40% price difference just between online and brick & mortar jewelers (Blue Nile vs. Local vs. Tiffany, for example). Robbins Brothers can tell you what they would sell a comparable mined diamond for in-store, but semi-comparable mined diamonds online will be $9,000-12,000 per-carat, so you can buy a mined 2ct H VS2 GIA XXX online starting around $18,000.

I'm biased (CEO of D.NEA), but for the price of the diamond you are considering, you could have a grown ideal cut G VS1 instead. That's not something you need to see in-person to make sure it looks okay, but every reputable jeweler offers a long enough return period, so you don't have to keep a diamond if you don't like it for any reason.