Princess Cut Question

Date: 3/14/2009 11:30:31 PM
Author:aveda6
Hello, I am new to posting after having been following the threads for a while. I put a deposit down on a ring this morning and had a few questions afterwards (luckily I have 14 days to remove the deposit without an issue). My budget is very small and what I picked out today was visually very good; however after looking at the diamond prices online I have some concern over the cost.

Here is a quick rundown. I had been looking for a square (princess cut) diamond that has a bezel set and small diamonds surrounding the center stone. Sort of like the Tiffany-style rings that you see. I know I'm explaining this poorly, but I had been looking at all the local stores (and online). I had found one that was 'ok' at a mall store but it was not graded and had a milky look. The price was cheap, $900 for a 0.46 diamond and setting. Anyway, I went to a local jeweler had a good reputation and they advised that I pick out the setting first and then he brought in three different diamonds. I found the setting I wanted and the three diamonds were 0.53, 0.74 and 0.91 carats, all GIA rated. Of the three, the prices were $1500 - 2200. The 0.74 was the most expensive due to the cut and color (I think it was F or G, VVS1). The 0.91 was 1800 and was IS2 and H color (i believe). The last one was the 0.53 which was H and VS1. I had to rule out the 0.74 due to price limitations. He allowed me to handle the diamonds as much as i wanted to compare the other two. The 0.91 was large enough that a similar setting was needed that was slightly larger. Anyway, I compared the two diamonds against each other both by themselves and in the settings. The 0.53 had so much more brilliancy and lacked the darker look of the larger diamond. Once noting that the setting was going to have to be bigger I ruled it out.

Now, I have looked at how much the 0.53 H VS1 diamond should cost. The 'sale' price this weekend at the store was $1500. Online, for the same characteristics, the prices have ranged from 700 to 1700 with the majority being closer to the 1000 mark. It seems like the diamond was highly marked up. To complicate matters, the setting seems to be reasonably priced at $750 (again, based on what I could find that was comparable online). My question is whether the high diamond price should be a concern. The total is $2250 but if the diamond is overpriced I'm concerned that I will try to buy online without seeing the diamond and end up not satisfied.

I have copied the GIA specs just in case they matter (I really don't fully understand all of the dimensions).

Any advice would be greatly appreciated.

jim

Report Type: GIA Diamond Dossier® Date of Issue: January 18, 2008

Laser Inscription Registry: GIA 16701874

Rectangular Modified Brilliant

Measurements: 5.03 x 4.45 x 2.77 mm

Carat Weight: 0.53

Color Grade: H

Clarity Grade: VS1

Proportions:

Depth: 62.2 %

Table: 74 %

Girdle: Extremely Thin to Slightly Thick

Culet: None

Finish:

Polish: Good

Symmetry: Good

Fluorescence: None

Clarity Characteristics: Feather, Chip