1.01ct cushion cut diamond

[Tytania]

Hi guys,

Just wanted to ask your opinion... my friend is in the process of buying an engagement ring for his girlfriend, and he''s found a 1.01ct cushion G VS2 ideal cut apparently (those are the only stats).. but the vendor is quoting £6000 (approximately USD9800) for the diamond alone (not incl setting)!!!! In my personal opinion, that''s way too much for a 1.01ct diamond surely? I''ve voiced my concerns, but he is desperate to finish the ring within a very tight schedule to tie in with his proposal plans and is concerned he won''t be able to do it on time, so is reluctant to start the search for a diamond again. But having lurked on PS for awhile now, my conscience is finding it very hard to let him waste so much money on this.

What should I do?

 

[Ellen]

Yes, he''s paying an insane amount. Doing a price search, they are starting around 3300 and go to 4500ish (save for a couple more expensive, but nowhere near that).

Not sure what to tell you, if he''s bent on doing this now.... except to tell him how much he''s overpaying.

 

[Circe]

He''s overpaying. Aside from that ... who, exactly, is designating this an "ideal" cut? Fancies tend to be judged by different standards then RBs, and I''m not aware of any codification by the major labs ....

 

[Tytania]

He''s purchasing it from some jeweller in Hatton Gardens in London, and he''s been told all those specifications by the vendor who''s apparently bringing the diamond in from Amsterdam. *sighs* he''s being ripped off isn''t he? I''m going to have to tell him and he''s going to be so disappointed

He was so excited as well, he had all these elaborate plans for the proposal and everything.

 

[Ellen]

Date: 6/15/2009 5:27:46 PM
Author: Tytania
He''s purchasing it from some jeweller in Hatton Gardens in London, and he''s been told all those specifications by the vendor who''s apparently bringing the diamond in from Amsterdam. *sighs* he''s being ripped off isn''t he? I''m going to have to tell him and he''s going to be so disappointed

He was so excited as well, he had all these elaborate plans for the proposal and everything.

Aw. Would he be open to buyiong online?

And yes, I didn''t even delve into what the stone was being called, but Circe is right. There''s no cut gtrade for these.

 

[Tytania]

I''m not sure.. do you think he''d be able to get everything finished within 4 weeks? He''s picked out a setting already, so at least he doesn''t have to waste time on the decision making process.....

Also, when I first mentioned buying online to him, he was concerned about taxes incurred when the diamond was shipped into the UK - anyone have any experience with how much this is roughly? Is it same as VAT ie. 15%?

 

[DMBsGirl]

definitely overpaying! I have a GIA 1.09 ct cushion, I VS1 in a platinum halo setting and my husband paid a lot less than he is paying for diamond alone (is the diamond even certed? or is he taking the jeweler's word that it is a G VS2?). Please direct your friend to ERD (engagementringsdirect.com) They are located in New York City. They are known for their cushions and have great prices and amazing craftsmanship. Better to wait a while longer in order to save some money AND get a knockout diamond and ring.

 

[Circe]

Date: 6/15/2009 5:42:08 PM
Author: Tytania
I''m not sure.. do you think he''d be able to get everything finished within 4 weeks? He''s picked out a setting already, so at least he doesn''t have to waste time on the decision making process.....


Also, when I first mentioned buying online to him, he was concerned about taxes incurred when the diamond was shipped into the UK - anyone have any experience with how much this is roughly? Is it same as VAT ie. 15%?

Even so, he''ll still be paying less then he is now ... have him get in touch with someone like Mark Turnowski (colloquially known as "The Cushion Guy" around here), and emphasize the need for speed. It will definitely be tight, but I don''t think it''s necessarily impossible. BTW, why the deadline? It might be worth moving back a little, or proposing with a stand-in ....

 

[Tytania]

Thanks everyone, I''ll email him all the suggestions so far and hope he takes it in..

Date: 6/15/2009 5:45:19 PM
Author: Circe

Even so, he''ll still be paying less then he is now ... have him get in touch with someone like Mark Turnowski (colloquially known as ''The Cushion Guy'' around here), and emphasize the need for speed. It will definitely be tight, but I don''t think it''s necessarily impossible. BTW, why the deadline? It might be worth moving back a little, or proposing with a stand-in ....

He wants to propose on her birthday.....

 

[Ellen]

He can also contact GOG. They have a huge line of cushions. They''ve been known to be pretty fast. However, who is he wanting to set the stone? If it''s over there, will a jeweler be willing to do it? Some aren''t if you don''t get the stone from them.

And tell him there are many overseas cushion buyers on here that would love to tell their stories if it would help!

 

[Ellen]

Here, this is a gorgeous stone, great cut. And 3800 less.

(these run more, because they are optimally cut to Jon's specifications, but WELL worth the money)

http://goodoldgold.com/diamond/5900/

 

[Tytania]

omg that is GORGEOUS!

now I want one too.. LOL! Thanks so much Ellen, I''ll forward him that link.. maybe seeing it on GOG with the pictures AND attached pricetag might definitely help!

 

[Ellen]

Date: 6/15/2009 6:08:40 PM
Author: Tytania
omg that is GORGEOUS!

now I want one too.. LOL! Thanks so much Ellen, I''ll forward him that link.. maybe seeing it on GOG with the pictures AND attached pricetag might definitely help!

Me TOO.

Yes, a picture (and video) are worth a thousand words.

And you''re very welcome!

 

[tradergirl]

Wow, the 1.00 ct G VS2 OMC I just won on Ebay for $1225 is looking like a hell of a bargain.