shape
carat
color
clarity

Help with large diamond e-ring

Status
Not open for further replies. Please create a new topic or request for this thread to be opened.

madrock

Rough_Rock
Joined
May 2, 2005
Messages
76
Hi...this is my first post but I have been lurking and reading for a while trying to gather info.  Hope you all can offer your expertise and wisdom. 

My husband and I are celebrating our 20th wedding anniversary on June 1 and are luckily and thankfully in a financial position to upgrade my original e-ring to something truly spectacular.  I am looking at stones in the 8-12 carat range, hopefully G/H, VS1 or VS2.  My first choice would be an oval (on the fatter side) but I also like rectangular radiants and cushions, or brilliants and heart-shaped.  I plan on using Leon Mege to design a micro-pave eternity setting.

Today, the upscale retailer I''ve been working with for 3 months showed me a stone that I came home and found offered for sale on the internet (through pricescope) for $50,000 LESS. The exact same stone -- I had the GIA report number.  Needless to say, I am disappointed and disgusted.  I have spoken to a couple of wholesalers in NYC (I am local) who are trying to put together some stones for me to see, but it hasn''t happened yet.  I thought I gave myself plenty of time but now it looks like I won''t have the ring by June 1.

Blue Nile has a stone listed that I am interested in (9.01 H/VS1 VG cut oval with 1.29 ratio).  Would it be crazy to buy a diamond costing $150K on the internet?  Has anyone done this?  I would also appreciate any comments on this stone...the flaws (as much as I can tell) are some extra facets and it''s not an optimum ratio for an oval (but I prefer that look).

Any help or comments would be appreciated.  Thanks.
 

valeria101

Super_Ideal_Rock
Premium
Joined
Aug 29, 2003
Messages
15,809
Date: 5/2/2005 9:18:6 PM
Author:madrock

Would it be crazy to buy a diamond costing $150K on the internet? Has anyone done this?
Blue Nile themselves claim to have sold such stones online. A scan of the press will reveal other such claims that have not been contested. Actually... why not
2.gif
Virtual bidding on high ticket auctions is nothing new and does not seem very different.

Given how much the markup on such a stone varies from one seller to the next, enlisting an appraiser to help with the selection might do some good. IMO at least.

Yay!
 

Maxine

Brilliant_Rock
Joined
Dec 6, 2004
Messages
1,400
Since some of the internet dealers are based in NY, you might be able to have the best of both worlds...."shop" online, and view the item in person....but I agree w/Valeria...do you have a trusted appraiser that you use?? Even much smaller purchases warrant the services of an appraser IMO! Good luck ...it sounds like an exciting project!!! I''m sure the better vendors can get you what you want....
 

Maxine

Brilliant_Rock
Joined
Dec 6, 2004
Messages
1,400
If you do a search here, you will find that same diamond at 4 vendors....one of them lists it for almost 8000 less than blue nile.......(you can get a small discount w/the vendors by mentioning pricescope)......
 

canuk-gal

Super_Ideal_Rock
Premium
Joined
Apr 19, 2004
Messages
25,649
Date: 5/2/2005 9:18
6.gif
6 PM
Author:madrock
Would it be crazy to buy a diamond costing $150K on the internet? Has anyone done this? Any help or comments would be appreciated. Thanks.
HI:

Congrats on your upcoming 20th--and the propsect of buying a large upgrade. The question whether or not it "would be crazy" to buy a diamond on the Internet, costing $150 or $150,000 is for each person to decide--where their comfort zone is. Online firms of repute have money back guarentees allowing folks to decide whether they like the look of the stone and if not to send it back for a full refund; moreover most recommend an independent appraiser evaluate the stone prior to purchase and since there are appraisers in NYC close to you, this likely could also be done within the window of return.

Further, some of the online vendors listed above under the "Resources", also have storefronts (Brick & Morter establishments) as well as online businesses, and are available by appointment to view stones in person--even some conveniently located in NYC where you reside.

I hope this makes sense. Happy shopping!

cheers--Sharon
 

hoorray

Ideal_Rock
Joined
May 16, 2003
Messages
2,798
Looking for a stone of this magnitude and price, I think the Internet would open up options since it is going to be a rare stone to be found. However, I would establish a relationship with several of the top vendors -- those whose business models are set up to give you very personal, hands on service, and with a well respected appraiser whom you trust.

Bulenile may be able to do this for you, but to me, their business model is more focused on volume. A smaller vendor like Nice Ice, White Flash, Good Old Gold, Superbcert, Wink Jones, etc may be able to give you better hands on service. However, from what I know, they are smaller businesses (probably like your local vendor) and working with more than one may be beneficial.

I would suggest you get on the phone and call several of these vendors and see if you can get comfortable with working with them remotely. We bought an upgrade stone online and are very happy that we did. It was pricy, but not as pricy as yours will be, so just use common sense in doing business -- locally or remotely
1.gif
. Good luck, and come back here for some expert help as you go through the process.
 

RockDoc

Ideal_Rock
Joined
Aug 15, 2000
Messages
2,509
Date: 5/2/2005 9:18
6.gif
6 PM
Author:madrock
Hi...this is my first post but I have been lurking and reading for a while trying to gather info. Hope you all can offer your expertise and wisdom.

My husband and I are celebrating our 20th wedding anniversary on June 1 and are luckily and thankfully in a financial position to upgrade my original e-ring to something truly spectacular. I am looking at stones in the 8-12 carat range, hopefully G/H, VS1 or VS2. My first choice would be an oval (on the fatter side) but I also like rectangular radiants and cushions, or brilliants and heart-shaped. I plan on using Leon Mege to design a micro-pave eternity setting.

Today, the upscale retailer I''ve been working with for 3 months showed me a stone that I came home and found offered for sale on the internet (through pricescope) for $50,000 LESS. The exact same stone -- I had the GIA report number. Needless to say, I am disappointed and disgusted. I have spoken to a couple of wholesalers in NYC (I am local) who are trying to put together some stones for me to see, but it hasn''t happened yet. I thought I gave myself plenty of time but now it looks like I won''t have the ring by June 1.

Blue Nile has a stone listed that I am interested in (9.01 H/VS1 VG cut oval with 1.29 ratio). Would it be crazy to buy a diamond costing $150K on the internet? Has anyone done this? I would also appreciate any comments on this stone...the flaws (as much as I can tell) are some extra facets and it''s not an optimum ratio for an oval (but I prefer that look).

Any help or comments would be appreciated. Thanks.

A few questions.....

It appears that the store doesn''t own the stone. Did you see the stone in person?

Did you just see the grading report?

Do you want an expert to consult with and advise you on this purchase?

I would think that other seller''s would be able to sell you this stone, as it appears fairly obvious that it isn''t owned by a retailer, but is actually owned by a cutter or dealer.

There are plenty of internet sellers, that would be thrilled to offer you a very competitive price on this stone. However, don''t have too many dealers inquiring about the same stone, as that could end up costing you.

(You might review the article on the home page about the same stone being offered by different sellers.)

It may also be a viable option to negotiate with the jeweler bringing him a printout of the pricescope research you''ve done, and tell him you expect at this level of sale, that you demand him to be reasonably competitive - and be assertive in telling him this. Fortunately, you have a meaningful reason to expect that he be at least reasonably competitive with any other prices you were quoted. The price diference is more than just substancial. You may decide you don''t want to deal with the local person, or if he finds a way to make a more reasonable profit you''ll consider him to be your seller. That is of course, your decision.

Also congratulations on making it 20 years ... that in itself is a notable accomplishment!

Hope this helps,

Rockdoc
36.gif
 

madrock

Rough_Rock
Joined
May 2, 2005
Messages
76
Date: 5/2/2005 9:51:12 PM
Author: RockDoc





Date: 5/2/2005 9:18
6.gif
6 PM


A few questions.....


It appears that the store doesn''t own the stone. Did you see the stone in person?


Did you just see the grading report?


Do you want an expert to consult with and advise you on this purchase?


I would think that other seller''s would be able to sell you this stone, as it appears fairly obvious that it isn''t owned by a retailer, but is actually owned by a cutter or dealer.


There are plenty of internet sellers, that would be thrilled to offer you a very competitive price on this stone. However, don''t have too many dealers inquiring about the same stone, as that could end up costing you.


(You might review the article on the home page about the same stone being offered by different sellers.)


It may also be a viable option to negotiate with the jeweler bringing him a printout of the pricescope research you''ve done, and tell him you expect at this level of sale, that you demand him to be reasonably competitive - and be assertive in telling him this. Fortunately, you have a meaningful reason to expect that he be at least reasonably competitive with any other prices you were quoted.  The price diference is more than just substancial. You may decide you don''t want to deal with the local person, or if he finds a way to make a more reasonable profit you''ll consider him to be your seller. That is of course, your decision.


Also congratulations on making it 20 years ... that in itself is a notable accomplishment!


Hope this helps,


Rockdoc

36.gif

I am not interested in purchasing the stone I saw today -- it was an SI2 with obvious flaws, and I feel in my price range I don''t have to settle.  I really was just comparison price shopping.  I will speak to him to see if I am just wasting both our time by working with someone who needs that kind of markup.

Your point about asking too many dealers about the same stone is my fear -- there are just not that many diamonds that fit my criteria.  I am also afraid to trust anyone in this business -- you hear so many horror stories about switched stones and fake appraisals.  Please tell me how I can know if I can trust an "expert" that I hire --  it also seems like everyone knows everyone else in this business. I admit I need some help -- I wouldn''t buy a house without a realtor -- and this will cost 4 times what my first house cost. 
 

researcher

Ideal_Rock
Joined
Apr 27, 2004
Messages
2,460
You''re right to think that everyone knows everyone in the business. I discovered that when I went to buy my ring. But, you can also use it to your advantage. If you''re quoted one price from one vendor, see if another can beat it. Just as the "demand" for a stone may increase the price, it''s to the benefit of the owner of the stone to sell it--no matter who the actual vendor is. As others have mentioned, PS vendors will treat you right. I went with WF and couldn''t have been happier with their service.
 

valeria101

Super_Ideal_Rock
Premium
Joined
Aug 29, 2003
Messages
15,809
Date: 5/2/2005 10:13:59 PM
Author: madrock

Please tell me how I can know if I can trust an ''expert'' that I hire -- it also seems like everyone knows everyone else in this business. I admit I need some help -- I wouldn''t buy a house without a realtor -- and this will cost 4 times what my first house cost.
You are right about ''everyone knows everyone" but in the end is each for himself and his bottom line. Internet sales is relatively new so... whoever workd in this segment needs to be darn competitive since margins are not settled in this pipeline yet. Well, as much as I can tell - I am not into this trade in any way.

Some of these independent gem labs have excellent track records for all to see, including contributions to gemological research and what not.

I sincerely doubt that a venue specializing in important jewelry will provide the best deal.

Not that 10 carat diamonds are talked about on this forum every day
2.gif
Only a couple. You may have noticed that there is a certain bend towards Harts and Arrows diamonds in the "tutorial" above and among the discussion topics and "large" might mean 3 carats or so. Despite this, the sellers who have used this forum to build their www reputation do have a track record of handling large diamonds: 7 carat G/VVS at Whiteflash, 5 carat D/VVS at GoodOldGold and... I am not sure who owns that 15 carat D/IF Garry Halloway from Preciousmetals came up with (all H&A rounds). Obviously, any of these guys will know for sure what you are talking about. You must have seen Icestore allready... there are several soulmates of your prospective ring listed among their finished pieces. All these shops do have outlets on the ground so it is hard to tell which sale took place online and which by appointment.

Other than "track record" and comparison shopping, I do not know any magic wand for telling who is who.

The funny part: this is a public posting now, and any of a number of sellers will see it. Pricescope''s rules do not allow them to make open offers - juts came up with informative posts and possibly send private messages.
9.gif
It may even turn into competitive bidding, in theory.
 

RockDoc

Ideal_Rock
Joined
Aug 15, 2000
Messages
2,509
RE: How do I choose an expert?


Appraise the Appraiser....

Review the appraisers that appeal to you based on what they''ve written in other posts. Then ask for their resumes if not posted on their websites ( I think most are). Read the website and review the testing each does, and the equipment that each has.

Then perhaps you should "interview" your selection of expert by a telephone call. Discuss your questions, and your goals. Ask what is going to be done, and the basis for the report you''ll be getting. You''ve been reading the site for a long time. Prepare questions that you''d ask a potential employee in an interview. Judge how informative and interested in how each appraiser is... I don''t think it will be difficult to make a prudent selection, if you take your time, and communicate your concerns well.

From you''re post, I imagine your in the NY area.... You could arrange with sellers to make the stones available to you and tell them you want to bring your appraiser with you... (Note: Even if you pick someone from out of town, it may pay to hire them for a day, of reviewing the stones. Airplane fare to NY area are cheap from almost any part of the country.) The amount it would cost you is insiginificant when considering this level of purchase.


Hope this helps

Rockdoc
 

strmrdr

Super_Ideal_Rock
Joined
Nov 1, 2003
Messages
23,295
good old gold should be fairly close.
Best of both worlds internet level prices and local so you can see the diamond.
www.goodoldgold.com

Be sure and call for an appointment if you are going to visit there.
They are very busy but with an appointment will take the time to give you all the information you need to be comfortable buying a diamond.
 

skimmy

Rough_Rock
Joined
May 21, 2004
Messages
80
a couple of things...

i believe i read somewhere way back when that moremoremore had mark @ engagementringsdirect get a stone for her that she had seen on bluenile...perhaps that''s worth checking into??

and i was just at GOG this past week...and they couldn''t have been more helpful. i would also recommend deborah villepigue as an appraiser (she''s listed on this site under the appraiser section). GOG and deborah are literally 25mins apart...might be worth the time to get 2 opinions...
 

just_looking!

Brilliant_Rock
Joined
Jul 25, 2004
Messages
505
Having an appraiser who is not in NY may also help you financially even if you buy locally and have it set in NY!
11.gif


I''m based abroad and so didn''t want to pay sales tax in the US so this is what we did:
23.gif


I used Richard Sherwood in Florida for the appraisal, but the diamond was bought from a NY seller (not sure if I''m allowed to mention the seller) and the rubies came from Wink Jones in Boise (Richard Homer cut).

Because they were shipped out of state, I did not pay sales tax in NY. After the appraisal in FL they went up to Leon Mege in NY to be made into a ring and then the completed ring went back to Richard Sherwood in Sarasota.

I would have had the ring shipped to me, but due to time constraints we came over to the US to pick it up from Richard''s office.

Voila! (A big thanks to all concerned - the ring is still very much appreciated!!)
12.gif
 

valeria101

Super_Ideal_Rock
Premium
Joined
Aug 29, 2003
Messages
15,809
Date: 10/11/2005 6:41:08 AM
Author: just_looking!
....
This is an old thread
2.gif
but you know what!?
31.gif
the story continues HERE right now...
 

just_looking!

Brilliant_Rock
Joined
Jul 25, 2004
Messages
505
tee hee! too many windows open.. was responding to the other thread really!
41.gif
 

widget

Ideal_Rock
Joined
Nov 12, 2004
Messages
4,255
Author: valeria101
This is an old thread
2.gif
but you know what!?
31.gif
the story continues HERE right now...
It may be old, but it certainly is one of the more interesting ones I''ve read lately! I missed it the first time around...

widget
 

Kaleigh

Super_Ideal_Rock
Joined
Nov 18, 2004
Messages
29,571
Thanks for bumping this thread, I missed it the first time too.
 
Status
Not open for further replies. Please create a new topic or request for this thread to be opened.
Be a part of the community Get 3 HCA Results
Top