A little help for the new guy? Price/Value check

[Vitello76]

I''m shopping for an engagement ring and this is my first diamond purchase.

The dealer is actually a wholesaler in the "diamond district" in Chicago who was introduced to me by someone who''s used him and reccomended him to others a number of times...still, I could use some feedback on this one because most of what I''ve "learned" about diamonds has been what this guy has told me. A little biased, huh?

I saw many stones that were bigger and/or better, but this one is right at my budget and I''d like to know I''m getting my budget''s worth...


All info I have come from GIA cert from April 17, 2004(looking at a copy right now)

Princess Cut (square modified Brilliant)
Measure- 6.44 x 6.11 x 4.4mm
Carat- 1.34 carat
Depth- 72%
Table- 73%
Girdle- Medium
Culet-None
Polish- VG
Symmetry- VG
Clarity VS2
Color H
Fluorescence- None
Comments- None

Buying price of $6,000.00 even for just the stone.

Someone want to help the new guy?

s

 

[Richard Sherwood]

Hi Vitello. Looks like it's probably a nice looking diamond. It's tough to tell completely without crown & pavilion information, and on fancy shapes other tests & images such as BrillianceScope results and IdealScope images are very helpful.

This I can say though- The depth and table size are close, so that usually makes for a lively stone. The girdle has a nice thickness, which is good for resistance against chipping and nicking. The symmetry is very good, which means the facet arrangement is nice and symmetrical.

The color and clarity combination of H/VS2 is a good one. Very balanced, with a nice "near colorless" body color combined with an eyeclean (and fairly loupeclean) stone. Since the grading came from GIA you can feel pretty secure in its accuracy.

The length to width ratio is 1.05 to 1.00, which is the most you can go and still call the stone "square". Any more, and it would be considered "rectangular". This is not good nor bad, just additional information.

The price seems fair. For example, on the PriceScope list there is a 1.31 with very similar characteristics listed for $5600. So the stone you're looking at is priced comparable to "internet" levels, which are very inexpensive.

I would suggest making the sale contingent upon the diamond appraising out to your satisfaction, with a right of return for ANY REASON. Then you can ask the appraiser to tell you straight out all the pros & cons of the stone. Tell him not to go easy on it, but analyze it with a critical eye.

 

[Vitello76]

Rich,

Thanks so much for the information. Just an independent nod makes me a little more at ease, if only to confirm some of the things Joel was saying while he was showing me these stones.

Do you (or anyone reading this thread) have any reccomendations on where to get an accurate appraisal?

When it comes to paying, he'll accept cash or check. I'm concerned about this being a cash deal though; what recourse will I have if I'm unhappy with the appraisal?

Thanks for the information, I'm learning (a lot) as I go.

Vitello

 

[chialea]

A check won't do you much more good, very likely, except insofar as you have proof of exactly how much the diamond cost -- but you'll have a reciept anyway. I'm assuming he'll be cashing your check quickly, and so the money will move over; it's not like a credit card where you can call and dispute.

 

[valeria101]

This a pretty deep stone... You may be able to get a piece of the same size and less weight but somewhat different proportions, well, or just larger for the same weight.

For the mentioned price range, there should be some princess cuts with full reports on cut quality and optics... I would think

 

[Richard Sherwood]

-----------
Do you (or anyone reading this thread) have any reccomendations on
where to get an accurate appraisal?
-----------

You could check the "appraisers" list on the menu at the top of your screen to see if anyone near your area is listed, or you could send the stone out for appraisal.

The PGS lab (Professional Gem Sciences) in Chicago is an excellent appraisal service.

 

[Richard Sherwood]

-----------
When it comes to paying, he'll accept cash or check. I'm concerned
about this being a cash deal though; what recourse will I have if I'm
unhappy with the appraisal?
-----------

Have the seller indicate the terms of agreement on the receipt. Something along the lines of "Client has 10 days in which he can return the diamond for a cash refund for any reason."

 

[hoorray]

If you don't find a good appraiser in your local area, I would recommend sending it out to one of the top notch guys who participate here. Both Rich Sherwood and David Atlas have nothing but great things said about them by happy clients. Many jewelers will send a stone to an appraiser before you purchase it, which makes the transaction part easier and safer. If they won't do that, make sure you get the return policy in writing and understand how and how quickly they will refund your money.

 

[Vitello76]

I'm going to have a stone appraised at PGS in Chicago. The woman I spoke with seemed very knowledagble and very willing to help and told me with my stone/setting it would be $80.00 for this apprasial and cert virification service.

What should I be expecting for this $80 (other than piece of mind)?

Also, now that I'll have it in hand, I'm going to feel ackward handing this diamond to someone, anyone...even an appraiser...who will take it out of my sight. Am I paranoid?


vitello

 

[Richard Sherwood]

That paranoia might be warranted with some companies, but you don't have to worry with PGS.

If it bothers you, you might consider asking for a "while you wait & watch" appointment (the bulk of my work), or ask the appraiser how to identify your stone, showing you an identifying characteristic when you drop it off and then again when you pick it up.

 

[Vitello76]

Rich,

Once again, THANK YOU. Today's the purchase day...wish me luck.

Let me know if you ever find yourself in the Chicago area, drinks are on me. Really.

vitello76