BACKGROUND INFO
I''ve already read through two books on diamonds:
(1) Renee Newman, Diamond Ring Buying Guide: How to Evaluate, Identify, and Select Diamonds & Diamond Jewelry
(2) Fred Cuellar, How to Buy a Diamond, 6th Edition: Insider Secrets for Getting Your Money''s Worth
But I still feel incredibly intimidated by the entire process. I''m entering a PhD program this coming fall, so I don''t feel as though I''ll be incredibly wealthy any time in the near future. In light of that, I don''t think it would be altogether responsible for me to spend much more than $5,000 (savings and inheritance) on the engagement ring.
EXPERIENCE WITH COSTCO
A family member recommended I purchase a ring from Costco (because of their policy of minimal markup, their return policy, and generally high high reputation for "ethical" business practices), but I don''t think that they have a ring that will fit my budget. I''ve contacted their Special Order Diamond Program ([email protected]), and gave them the following preferences/specifications:
DIAMOND
SHAPE round brilliant
CUT QUALITY GIA Class II
COLOR G - I
CARAT(S) 1.0 c
CLARITY VS2 - SI2
TREATMENT none
APPRAISAL GIA document
SETTING
TYPE solitaire
ROCK-TYPE round brilliant
PRONGS 6
METAL platinum 950
RESPONSE FROM COSTCO
Costco indicated that they do not deal in stones below VS2, and unfortunately, the three diamonds they suggested are at least $2,000 over my budget. The response they gave is as follows:
"I can only quote on what I have available. These are the closest items I
have matching the specifications of your request.
Round 1.17ct VS1 "I" in a platinum setting which sells for $7,399.99
(item #344283)
Round 1.02ct VS1 "H" in a platinum setting which sells for $6,999.99
(item #384720)
Round 1.08ct VS2 "G" in a platinum setting which sells for $7.799.99
(item #347982)"
QUESTION FOR PRICESCOPE FORUM USERS
My *question* is then: Do Costco''s prices seem competitive to you? And on what stone/setting details should I compromise in order to stay within the $5,000 budget? I could shop elsewhere and buy a stone that is SI1 grade, or I could get something less than a carat, although that one carat number does seem to have a certain ring to it.
ADDITIONAL CONSIDERATIONS
Also, it should be noted that I''m from Connecticut, I go to school in Chicago right now (but only for a brief period thereafter), I will be in San Diego in a couple of weeks (and would like to have purchased a diamond by then), and will be spending the next 6 years in a doctoral program at Duke University (North Carolina). I move around a lot, so a lot of the perks of establishing a relationship with a jeweler might not be available to me.
I don''t have any fundamental problems with purchasing online. I simply am uncertain what vendors to use (some people on this forum have recommended, e.g., GoodOldGold, NiceIce, Whiteflash). I''m just concerned that my relative ignorance might lead me to overlook some quality detail and end up with a rock that might be the desired size but lacking in luster, for example.
Thank you for your time. Any help you can offer is most appreciated.
I''ve already read through two books on diamonds:
(1) Renee Newman, Diamond Ring Buying Guide: How to Evaluate, Identify, and Select Diamonds & Diamond Jewelry
(2) Fred Cuellar, How to Buy a Diamond, 6th Edition: Insider Secrets for Getting Your Money''s Worth
But I still feel incredibly intimidated by the entire process. I''m entering a PhD program this coming fall, so I don''t feel as though I''ll be incredibly wealthy any time in the near future. In light of that, I don''t think it would be altogether responsible for me to spend much more than $5,000 (savings and inheritance) on the engagement ring.
EXPERIENCE WITH COSTCO
A family member recommended I purchase a ring from Costco (because of their policy of minimal markup, their return policy, and generally high high reputation for "ethical" business practices), but I don''t think that they have a ring that will fit my budget. I''ve contacted their Special Order Diamond Program ([email protected]), and gave them the following preferences/specifications:
DIAMOND
SHAPE round brilliant
CUT QUALITY GIA Class II
COLOR G - I
CARAT(S) 1.0 c
CLARITY VS2 - SI2
TREATMENT none
APPRAISAL GIA document
SETTING
TYPE solitaire
ROCK-TYPE round brilliant
PRONGS 6
METAL platinum 950
RESPONSE FROM COSTCO
Costco indicated that they do not deal in stones below VS2, and unfortunately, the three diamonds they suggested are at least $2,000 over my budget. The response they gave is as follows:
"I can only quote on what I have available. These are the closest items I
have matching the specifications of your request.
Round 1.17ct VS1 "I" in a platinum setting which sells for $7,399.99
(item #344283)
Round 1.02ct VS1 "H" in a platinum setting which sells for $6,999.99
(item #384720)
Round 1.08ct VS2 "G" in a platinum setting which sells for $7.799.99
(item #347982)"
QUESTION FOR PRICESCOPE FORUM USERS
My *question* is then: Do Costco''s prices seem competitive to you? And on what stone/setting details should I compromise in order to stay within the $5,000 budget? I could shop elsewhere and buy a stone that is SI1 grade, or I could get something less than a carat, although that one carat number does seem to have a certain ring to it.
ADDITIONAL CONSIDERATIONS
Also, it should be noted that I''m from Connecticut, I go to school in Chicago right now (but only for a brief period thereafter), I will be in San Diego in a couple of weeks (and would like to have purchased a diamond by then), and will be spending the next 6 years in a doctoral program at Duke University (North Carolina). I move around a lot, so a lot of the perks of establishing a relationship with a jeweler might not be available to me.
I don''t have any fundamental problems with purchasing online. I simply am uncertain what vendors to use (some people on this forum have recommended, e.g., GoodOldGold, NiceIce, Whiteflash). I''m just concerned that my relative ignorance might lead me to overlook some quality detail and end up with a rock that might be the desired size but lacking in luster, for example.
Thank you for your time. Any help you can offer is most appreciated.