Newbie Question - When buying from a wholesaler...

[wlee71]

Hi,

I'm a first time poster and had a general question.

I am considering purchasing a diamond through a friend's friend who happens to be a wholesaler on 47th St in NYC. They appear to be reputable, and produced a copy of the GIA certificate on the printer for a diamond which I liked which also has a laser inscription registry # and an additional inscription on it.

I went to the GIA site and verified the certificate itself. How do I make sure (for peace of mind) that the diamond is what it is if I purchase and set it? Just get the original GIA Diamond report?

The dimensions are as follows:

Carat Weight: 2.11
Color Grade: G
Clarity Grade: VS1
Cut Grade: Excellent
Proportions:
Depth: 61.2 %
Table: 56 %
Crown Angle: 34.5°
Crown Height: 15 %
Pavilion Angle: 40.8°
Pavilion Depth: 43.5 %
Star length: 55 %
Lower Half: 75 %
Girdle: Thin to Medium, Faceted
Culet: None
Finish:
Polish: Excellent
Symmetry: Excellent
Fluorescence: None
And they are willing to sell it for $26400. Is that a good price?

Thanks in advance for the help.

 

[Independent Gal]

If the diamond is inscribed with its GIA certificate number, you should be able to see the number through a powerful-enough jeweler's loupe. That number is associated wtih the GIA report online, although you definitely want to own an original version of the GIA report for insurance purposes, etc. The jeweler should provide that for you. Otherwise, I think GIA will sell you one.

The price is perfectly fair. It's not a 'steal' or a 'bargain'. Nor are you being cheated. It's just a fair retail (non-wholesale) price.

If you search on here or on Bluenile.com for stones with similar specs, you can compare the price for yourself.

 

[wlee71]

Thank you very much for your advice. I looked at Blue Nile and found a comparable diamond going for about $27300 so I guess that''s at least a reasonable price. I''ll make sure to get the original report.

Carat Weight: 2.04
Color Grade: G
Clarity Grade: VS1
Cut Grade: Excellent
Proportions:
Depth: 62.3 %
Table: 54 %
Crown Angle: 35.5°
Crown Height: 16.5 %
Pavilion Angle: 40.6°
Pavilion Depth: 43 %
Star length: 45 %
Lower Half: 80 %
Girdle: Thin to Medium, Faceted
Culet: None

Finish:
Polish: Excellent
Symmetry: Excellent
Fluorescence: None

 

[Modified Brilliant]

Hi wlee,

Welcome and thanks for posting!

I believe there's no such thing as "wholesale to the public." A true wholesaler sells only to a retailer..not directly to the consumer.

It's a pet peeve of mine

. A friend of a friend of a friend will still need to make a profit to cover time and energy.

Shop and compare. Good luck.


Jeff Averbook, GG
Graduate Gemologist since 1986

www.metrojewelryappraisers.com

 

[Independent Gal]

Yes, in fact, I believe it''s actually illegal in some states to represent oneself as selling ''wholesale to the public''. Regardless, it is worth being wary of! Makes you feel like you''re getting a great bargain when what you''re getting is just a solid fair price. Nothing wrong with a solid fair price though!

 

[Loves Vintage]

Here''s another option for you:

http://whiteflash.com/round_ideal_cut/Round-Ideal-Cut-cut-diamond-70075.htm#

It''s an expert selection ideal cut. It is priced slightly higher, but given the fact that you will not be paying sales tax, which I believe is 8% in NY, it may be a better deal for a better diamond.

Others on here might chime in about the differences in specs. I haven''t paid much attention to those details. I do know, however, that if I were to buy a new stone, I would want an ideal cut. I would also look for an SI1 and spend the savings on the honeymoon, but that''s just me!

 

[wlee71]

Thanks everyone for your help. Much appreciated.

I definitely understand that the wholesaler (but will sell to consumers by word of mouth) will still take his cut. The fact that they won''t charge sales tax if I pay by money order or cash makes one feel a little funny.

Is it easy to actually see the GIA inscription registry or are my eyes are terrible? I may have to take it to an appraiser just to be safe.

Oh - yea I was thinking SI1 or VS2 also but since I am buying for life, I might as well make her happy(ier)