Price difference????

Written by Susiecushie » May 8th, 2011, 11:38 am:Hi all,

You all helped me pick out a wonderful diamond. And with all these posts on how diamond prices have gone up I decided to look at GOG site to compare what I paid versus what is the current price.

So this is what I bought http://www.agslab.com/pdf_sync_reports/104045292037-PDQDFK.PDF

And this is the closest that GOG has to what I bought. http://www.goodoldgold.com/diamond/8265/

I bought mine for just under $7400. Did prices really go up that much???

Susan

yes prices have gone up a LOT recently!

How long ago did you buy yours? I purchased my stone 1.73 RB a couple of years ago and I see one listed here that is a tad smaller for $3,200 more than what I paid.

Yes, they did! Lucky buying when you did!

Written by ImpatientOne » May 8th, 2011, 11:42 am:How long ago did you buy yours? I purchased my stone 1.73 RB a couple of years ago and I see one listed here that is a tad smaller for $3,200 more than what I paid.

Don't rub it in ImpatientOne I regret not buying my 1.67ct three years ago as it is!

Thanks for the replies.

I bought mine at the end of March of THIS year. Am I comparing apples to apples (well as close as diamonds can usually get)? Or am I missing something huge??? I know it is GIA vs AGS but mine is ideal and theirs in excellent (equal right) and the color is the same and mine is a VS1 vs their VS2. And it is GOG and they have nice stuff.

Boy, I am so happy dh convinced me to get the 1.3 vs the .90 we were looking at. ACK!!!

Susan

Written by Susiecushie » May 8th, 2011, 11:52 am:Thanks for the replies.

I bought mine at the end of March of THIS year. Am I comparing apples to apples (well as close as diamonds can usually get)? Or am I missing something huge??? I know it is GIA vs AGS but mine is ideal and theirs in excellent (equal right) and the color is the same and mine is a VS1 vs their VS2. And it is GOG and they have nice stuff.

Boy, I am so happy dh convinced me to get the 1.3 vs the .90 we were looking at. ACK!!!

Susan

Yours would likely cost a few hunder more than the comparable you posted if yours was bought from GOG and is an H&A stone. There is a price difference going from VS2 to VS1, but it is not huge for J color stones. And AGS does sometimes command a higher dollar, but probably not at GOG.

Did you buy from GOG? That is an apples comparison.You need to account for vendor as prices vary there too. Seeing as your cert does not have the virtual ASET I am guessing that you did not buy from GOG, though, and it is not an H&A, so not really an apples to apples comparison if that is the case.

I did buy from GOG and have an ASET image from them too. My sales receipt says Hearts & Arrows. So this really is an apples to apples I guess? That is insane. I am so glad I picked it up when I did. How can it go up around $1500????

susan

Written by Susiecushie » May 8th, 2011, 12:05 pm:I did buy from GOG and have an ASET image from them too. My sales receipt says Hearts & Arrows. So this really is an apples to apples I guess? That is insane. I am so glad I picked it up when I did. How can it go up around $1500????

susan

Then it is apples to apples!

Likely GOG finally had to increase prices to account for the cost of replacing inventory. You may have gotten a really good deal, too, since the age of your grading report suggests GOG had the stone in their stock for a while and so could perhaps afford to sell it for less than a more recently purchased stone would cost. A stone if my diamond's specs went up 40% in the last year, so the increase you say, if long overdue, is not surprising.

(As an aside the ASET I referred to can be seen on some types of AGS grading reports, your report is a different type than those I ususally see with H&A diamond. Not a bad thing, just a difference. This is separate from an ASET you received from GOG).

Be happy, you did good!

Listen, I was watching high quality diamond huggie earrings from a respected vendor and saw the price climb 20% in a day!!! So much that I can't justify buying them! So if a pair of earrings can go up $500 in a day, I expect larger diamonds saw much greater increases. And in fact, I was watching the prices rise as I grabbed a pair of diamond studs around the same time. I just wish there could be a date announced for price increases so those on the verge of buying could do so before the price increase!

Indeed, there was YET another increase around late April/early May. This is it for me. No more diamond purchase starting today.

The problem is not just higher price. It is the lack of ideal cut diamonds available. When a 3ct I SI1 stone that scores over 2 for HCA sells for $36K, and anything 3.5ct or larger sells for $50K-$60K, I ask myself why bother.

Wonder if I am one of the few people who has given up buying? Anyone else?

Written by FancyDiamond » May 8th, 2011, 1:58 pm:Indeed, there was YET another increase around late April/early May. This is it for me. No more diamond purchase starting today.

The problem is not just higher price. It is the lack of ideal cut diamonds available. When a 3ct I SI1 stone that scores over 2 for HCA sells for $36K, and anything 3.5ct or larger sells for $50K-$60K, I ask myself why bother.

Wonder if I am one of the few people who has given up buying? Anyone else?

I will still buy smaller stones. Not that I was ever in the market for a 3.5ct rock but will likely not buy anything over the 1ct mark in the future.

So I guess my answer is "no".

Written by diamondseeker2006 » May 8th, 2011, 1:42 pm:Listen, I was watching high quality diamond huggie earrings from a respected vendor and saw the price climb 20% in a day!!! So much that I can't justify buying them! So if a pair of earrings can go up $500 in a day, I expect larger diamonds saw much greater increases. And in fact, I was watching the prices rise as I grabbed a pair of diamond studs around the same time. I just wish there could be a date announced for price increases so those on the verge of buying could do so before the price increase!

That would be nice! But it might put the vendors in a pickle since the main reason they raise the price is to be able to afford to replace stock. If there was a flood of pre-increase purchases -- some of which would otherwise have occurred after an increase -- then it could leave them in a bind for replacement. But maybe volume would make up for that...

Written by FancyDiamond » May 8th, 2011, 1:58 pm:Indeed, there was YET another increase around late April/early May. This is it for me. No more diamond purchase starting today.

The problem is not just higher price. It is the lack of ideal cut diamonds available. When a 3ct I SI1 stone that scores over 2 for HCA sells for $36K, and anything 3.5ct or larger sells for $50K-$60K, I ask myself why bother.

Wonder if I am one of the few people who has given up buying? Anyone else?

No, you're not the only one -- I just can't justify paying what diamonds cost now -- and I'm not even talking about the "larger" stones, i.e., > 2 carats. Even stones in the 1 - 1.5 carat range are just too spendy for me right now. I know we've probably been "spoiled" with lower prices these past couple years, but, still, there's a mental limit I have in terms of what I'm willing to spend on luxury items, and these recent price increases have pushed me over that limit!

I will continue to buy vintage pieces, and I am also going to work on a few colored stone pieces. So I won't stop spending money on jewelry.

Written by Dreamer_D » May 8th, 2011, 2:03 pm:

Written by diamondseeker2006 » May 8th, 2011, 1:42 pm:Listen, I was watching high quality diamond huggie earrings from a respected vendor and saw the price climb 20% in a day!!! So much that I can't justify buying them! So if a pair of earrings can go up $500 in a day, I expect larger diamonds saw much greater increases. And in fact, I was watching the prices rise as I grabbed a pair of diamond studs around the same time. I just wish there could be a date announced for price increases so those on the verge of buying could do so before the price increase!

That would be nice! But it might put the vendors in a pickle since the main reason they raise the price is to be able to afford to replace stock. If there was a flood of pre-increase purchases -- some of which would otherwise have occurred after an increase -- then it could leave them in a bind for replacement. But maybe volume would make up for that...

Yes, I assume that is why they don't give us the heads up. But I didn't buy the diamond earrings at all because of the price increase, so I am not sure whether that is better for them or not!

I've been looking at prices for a 1.5, VS2, G with Excellent/Ideal Cut. The prices went from around $14,000 to $16,000 (about 15% increase) for a virtual (not inhouse) diamond on Bluenile, WF, etc.. We have to take into account that prices of diamond was already low because of the recession and also because of price inflation. It could be worse though, look at prices for Gold. YIKES!!!!!

There is a shortage of rough and the polished prices have not kept up with those rough price rises, so expect more to come.
You have a quantitaive easing for a second time on your currency and so for some nations the price has not risen anywhere that much.
Get used to it my dear American friends. As more and more diamonds move to the east and away from the west.
I heard that one Chinese firm is opening a new store every day...and they are big stores, so just the initial stocking not counting what they sell will be amazing - orders coming through for 1,000's of 1/2cts a day. GIA Mumbai is by all accounts grading huge numbers of 30 pointers destined for China, Indonesia etc.

I searched for a comparable stone to my ERing stone, and I found a few stones that were D, SI2, Excellent cut, and within .02 in ct size.... from 13 months ago when my FI bought my stone to today.:::::::drumroll:::::::: $4,000 increase!


Lucky for me he bought when he did , as if not, I might be sitting here with .25-.5 ct less on this ring finger!

Written by diamondseeker2006 » May 8th, 2011, 3:22 pm:

Written by Dreamer_D » May 8th, 2011, 2:03 pm:

Written by diamondseeker2006 » May 8th, 2011, 1:42 pm:Listen, I was watching high quality diamond huggie earrings from a respected vendor and saw the price climb 20% in a day!!! So much that I can't justify buying them! So if a pair of earrings can go up $500 in a day, I expect larger diamonds saw much greater increases. And in fact, I was watching the prices rise as I grabbed a pair of diamond studs around the same time. I just wish there could be a date announced for price increases so those on the verge of buying could do so before the price increase!

That would be nice! But it might put the vendors in a pickle since the main reason they raise the price is to be able to afford to replace stock. If there was a flood of pre-increase purchases -- some of which would otherwise have occurred after an increase -- then it could leave them in a bind for replacement. But maybe volume would make up for that...

Yes, I assume that is why they don't give us the heads up. But I didn't buy the diamond earrings at all because of the price increase, so I am not sure whether that is better for them or not!

Touche!

Thanks everyone!!!

Now I feel like I got a "good deal." Before I saw this I thought I overpaid because of rising prices but I guess I missed the next rise. Now the hubby is telling me aren't you glad I made you pick the 1.3???

With these price increases I am leaning towards spending a bit more on the permanent setting (it is currently in a simply Stuller tiffany temp setting) since this is likely to be much more forever stone than I thought. Luckily I love the diamond.

Thanks for all the posts. I was thinking I was crazy at the price difference in less than two months.

Susan

Sounds like you did make a very good choice, Susan! I am also glad I got the stone I did at the time because I wouldn't upgrade now, either!

Written by Garry H (Cut Nut) » May 8th, 2011, 6:32 pm:There is a shortage of rough and the polished prices have not kept up with those rough price rises, so expect more to come.
You have a quantitaive easing for a second time on your currency and so for some nations the price has not risen anywhere that much.
Get used to it my dear American friends. As more and more diamonds move to the east and away from the west.
I heard that one Chinese firm is opening a new store every day...and they are big stores, so just the initial stocking not counting what they sell will be amazing - orders coming through for 1,000's of 1/2cts a day. GIA Mumbai is by all accounts grading huge numbers of 30 pointers destined for China, Indonesia etc.

Gary does this apply to fancy cut diamonds as well? How about lower colored or top brown diamonds? I know my Chinese Mother in Law would scoff at my N colored Si1 diamond if she ever saw it as she values high color and clarity.

Written by SandyCheeks » May 8th, 2011, 10:32 pm:

Written by Garry H (Cut Nut) » May 8th, 2011, 6:32 pm:There is a shortage of rough and the polished prices have not kept up with those rough price rises, so expect more to come.
You have a quantitaive easing for a second time on your currency and so for some nations the price has not risen anywhere that much.
Get used to it my dear American friends. As more and more diamonds move to the east and away from the west.
I heard that one Chinese firm is opening a new store every day...and they are big stores, so just the initial stocking not counting what they sell will be amazing - orders coming through for 1,000's of 1/2cts a day. GIA Mumbai is by all accounts grading huge numbers of 30 pointers destined for China, Indonesia etc.

Gary does this apply to fancy cut diamonds as well? How about lower colored or top brown diamonds? I know my Chinese Mother in Law would scoff at my N colored Si1 diamond if she ever saw it as she values high color and clarity.

Anything from Argyle (brown tints) already went thru the roof.
Afraid it is more about suply and demand x fall in US$

Written by diamondseeker2006 » May 8th, 2011, 8:29 pm:Sounds like you did make a very good choice, Susan! I am also glad I got the stone I did at the time because I wouldn't upgrade now, either!

Same here.

DS would you have upgraded with prices as they are now, had you been DS2011 instead of DS2006?

Written by Garry H (Cut Nut) » May 8th, 2011, 10:37 pm: Anything from Argyle (brown tints) already went thru the roof.

Boy, you can say that again!
I know the Argyle pink prices have really skyrocketed!!!
I'm soooo happy now that I already grabbed the two Argyle pinks below . . .

Actually every time I bought one of these over the last 5 years I felt like I was crazy, nutty & loony, but now I'm really glad I did.
It was good timing as it seems I'm increasingly being priced out of the FCD market.

Written by Dreamer_D » May 8th, 2011, 11:15 pm:

Written by diamondseeker2006 » May 8th, 2011, 8:29 pm:Sounds like you did make a very good choice, Susan! I am also glad I got the stone I did at the time because I wouldn't upgrade now, either!

Same here.

DS would you have upgraded with prices as they are now, had you been DS2011 instead of DS2006?

Dreamer, we have about the same size stones, so it is interesting that we have the same perspective! I think I would have upgraded to the 1.3-1.4 range, but I would have absolutely not gotten the stone I have now. That size would have been fine with me, but I would have hated paying the current prices even for that size.

Written by diamondseeker2006 » May 9th, 2011, 6:20 am:

Written by Dreamer_D » May 8th, 2011, 11:15 pm:

Written by diamondseeker2006 » May 8th, 2011, 8:29 pm:Sounds like you did make a very good choice, Susan! I am also glad I got the stone I did at the time because I wouldn't upgrade now, either!

Same here.

DS would you have upgraded with prices as they are now, had you been DS2011 instead of DS2006?

Dreamer, we have about the same size stones, so it is interesting that we have the same perspective! I think I would have upgraded to the 1.3-1.4 range, but I would have absolutely not gotten the stone I have now. That size would have been fine with me, but I would have hated paying the current prices even for that size.

And the same clarity Yes, for me it would have been financial. It would have hurt because I like a bigger diamond like I have, but I don't think it would have been in the cards.

Yes, we are spoiled a little on the clarity! Nice that somebody else can relate to that! I feel for everyone who had hoped to upgrade soon. We were very fortunate to get ours when we did.

Written by diamondseeker2006 » May 9th, 2011, 11:14 am:Yes, we are spoiled a little on the clarity! Nice that somebody else can relate to that! I feel for everyone who had hoped to upgrade soon. We were very fortunate to get ours when we did.

You more fortunate than I! I wish I had just ponied up for this size diamond three years ago. Even if I had put it on credit, it would have cost me substantially less than it did in 2010. Oh well!

Written by Garry H (Cut Nut) » May 8th, 2011, 6:32 pm:There is a shortage of rough and the polished prices have not kept up with those rough price rises, so expect more to come.
You have a quantitaive easing for a second time on your currency and so for some nations the price has not risen anywhere that much.
Get used to it my dear American friends. As more and more diamonds move to the east and away from the west.
I heard that one Chinese firm is opening a new store every day...and they are big stores, so just the initial stocking not counting what they sell will be amazing - orders coming through for 1,000's of 1/2cts a day. GIA Mumbai is by all accounts grading huge numbers of 30 pointers destined for China, Indonesia etc.

The highlighted portion of Garry's response is what I don't understand -- the demand from Asia and India seems to be in smaller carat weights, higher color and clarity grades. Why, then, are we seeing such an increase in prices on diamonds with color and clarity grades that were formerly "safe bargain havens," e.g., color grades J and lower, clarity grades SI and lower? The demand for those stones is not ratcheting up at the same speed as the high-color-high-clarity-less-than-one-carat stones that make up the demand in these emerging markets, is it? Phoenix raised this question in another thread, and no one addressed it.

ETA: I have abandoned my search for two @ 30 point diamonds in the G color, VS clarity ranges, because there is very little available, and what is available is several hundred dollars more than it was a few years ago! This can easily be explained by the increased demand for stones in this size in higher color/clarity combos. But, still, culturally, G color and VS clarity are not as sought after as D-F colors and VVS clarity stones, if I'm understanding consumer preferences in Asian and Indian cultures correctly Maybe I'm not?????

I bought mine in May of last year and something similar is going for $6,500 more now. It'd be a great investment if we knew we could get that much for them on the open market. They're not traded like solid gold/silver. But it's still fun to think about getting in at the right time.