Am I being taken for a ride? (buying my first diamond)

[greta2603]

Hi everyone,

I'm looking to upgrade my engagement ring. Cost was a factor when we got married 8 years ago, so I started out with a blue zircon in a pretty vintage setting, but I'm ready for a diamond now.

Cost is still a factor, of course. I'd like to stay under £3000 ($4700) for the stone and setting and have narrowed it down to this 18k WG halo (.36 cttw):



The stone I've chosen is an EGL Int. certificate. I've made a compromise on colour that to get a reasonable carat weight (I wear a size 9 ring and need a decent size stone within the halo to balance things out).

Shape Round
Weight 0.70
Colour G = GIA I
Clarity VVS2 = GIA VS1-VS2
Measurements 5.73x5.77x3.49mm
Depth 60.70%
Table 57.00%
Polish Excellent
Symmetry Excellent
Fluorescence None
Culet N/A
Cut Excellent (H&A)

The total for the setting and stone is £2892 ($4519). Is this price even remotely reasonable?

 

[AnneinGA]

I would not buy an EGL, and especially a VVS one because you're paying a premium for something that probably isn't there.

What about a stone like this?http://www.briangavindiamonds.com/diamonds/diamond-details/0.710-h-vs2-round-diamond-gia-34581276

 

[greta2603]

I'm trying to source my diamond from within the UK because I don't want to have to pay import taxes.

I'm okay with the EGL VVS2 being equivalent to the GIS VS1-VS2 and have looked for GIA diamonds equivalent to the EGL gradings, but they're more expensive (even at I VS1-VS2). So confusing!

 

[NervousBuyer]

It's EGL simply so that the vendor can charge the premium for the higher clarity, making the cost higher. If it were graded by GIA initially it wouldn't have that premium attached and it'd be the same stone. That's part of why people don't buy EGL - they cost more for the same stone.

 

[vince187]

Generally, prices reflect EGL's more generous grading. A GIA VVS2 G color is going to be more expensive than an EGL VVS2 G. You probably get more variability with EGL than GIA, and you won't find the best stones being graded by EGL, but otherwise, I think spending $5,000 for a EGL graded stone will go about as far as $5000 for a GIA stone.

To me, especially at your budget, either a stone is "too yellow" or "not too yellow", based on my eyes and soon to be fiance's eyes. Similarly, it is either "eye clean" or it is not. I don't care how it is graded, and will probably buy the largest stone that is "eye clean" and "not too yellow" based on my own judgement. Of course, geometry plays a role, but I would trust an EGL certificate unless you are going for a "best of the best" cut (then I would not look at EGL).

 

[diamondseeker2006]

The problem is, unless you have had the diamond appraised by an independent appraiser, you cannot assume that stone is only two color grades lower. I was on another thread just last night where two people came on and said they had looked at EGL stones that turned out to be about 4 color grades lower. So if your stone still costs less than a GIA I VS, then you can count on it being lower than that.

Buy GIA and then you'll know what you're getting.