am i getting ripped off???

[justinc123]

I decided to buy from a local jewler in Nashville, TN, which has been owned and operated for the past 23 yrs by Nyuma Shor. They make very nice pieces and his Village Jewlers store was voted best jewler in Nashville by one of the papers in town and was referred to me by a trusted friend.

Anyways, at the age of 23, i obviously don't have much money. I've decided on a white gold, three stone setting, princess cut. The center diamond is .61 carats, VS2, H color, EGL certified, with dimensions 5.05 by 4.74 by 3.38. It has great fire, and I was very pleased when inspecting it. The two sides are princess cut also, G color, SI1, .25 carats a piece...so .5 TW on the sides.

I have no doubts about the tremendous quality of his work and reputation, but am still hesitant about the possiblities of retail mark-up and inversely something cheaper online. He's quoted the entire deal at $2400. From these specs, does it sound like i'm getting an okay deal?

 

[finchuck]

Unless I missed it, you didn't include the price... that's the determining factor.

 

[justinc123]

i went back and included the price...$2400

 

[pqcollectibles]

I just checked the Price Scope diamond Search engine. Comparable G color, VS2 side stones would run $900-$1000 each, and the H, VS2 center stone would run around $1200-$1400, depending on cut quality. Price Scope Vendors typically work on about a 10% profit margin, give or take a % or 2. Hummmm...... The whole ring for $2400????

 

[rfs87]

Be vary careful with EGL certs. EGL is very leniant on color and clarity. If it were from the west coast, they are great. However, anything east of the mississippi, they are usually a color grade and a clarity grade off. You pay for an H, but you get an I. Trnaslation: H VS2=I SI1. Big price jump! Ask for him to send it to a different lab to have it graded. Preferably GIA or IGI.

 

[Mara]

Wow that is the first time I think I have ever seen the words 'preferrably' and 'IGI' in the same sentence.

 

[Stephan]

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On 2/5/2004 6:42:31 PM Mara wrote:


Wow that is the first time I think I have ever seen the words 'preferrably' and 'IGI' in the same sentence.

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LOL

We have to admit that IGI Antwerp is not so bad as before.
I once saw a stone that had a better HRD grade than the grade given by IGI Antwerp.

 

[roshita]

As you have already heard EGL is soft on grading, GIA is recommended. Cut will also define how beautiful or how bad a diamond may look. A poorly cut diamond will not look good and will not cost as much. Check Pricescopes diamond knowledge base under fancy shapes to understand AGA's criteria on cut for Princess diamonds. Do a little more research and you may end up with a nicer looking ring for a lower price.

 

[finchuck]

I think you'd be very hard-pressed to find similiar deals in a B&M store as you would from an online vendor. The good thing about B&M stores is that you can go check out their entire inventory right on the spot, you can compare stones right in front of you, and if you have a problem you can walk back in and speak to them face to face. However, with the reputation that the Pricescope vendors have garnerned on these forums, most of the worry is completely removed. If you haven't paid for this yet, I'd definitely reconsider and take a look at the stuff that places like www.dirtcheapdiamonds.com, www.whiteflash.com and www.goodoldgold.com have. You'll almost definitely get more bang for your buck.

Also, as others have said, be wary of EGL certs. When I look at stones, I look for GIA and AGS certed ones exclusively. Personally, I prefer AGS because they're more comprehensive. Good luck and I hope that you have a chance to reconsider that B&M purchase.

 

[valeria101]

Hm... the price looks good, you said the ring looks good too. Now idea what exactly you are paying for, but it looks like an ok price for even much lower grades - if this does not bother you. If the jeweler is an established opperation with some volume, chaces are that they obtain these smaller sizes at better prices than you would find for loose diamonds. Buying diamonds below 0.5cts loose (as the two sides on your ring), is not a budget-conscious enterprise at all, although much can be said about quality. The same logic goes about the center stone, although it has jumped the price "hump" at 0.5cts.

 

[chris-uk04]

Yes, I think you are getting a fair price. Even assuming the color clarity is SI1 - I (EGL can be a little lenient):, I would think a good price would be $1400, $1000 for the sides, & $300 for the setting, would total to be $2700. So at $2400, you would definitely be doing well even factoring in EGL leneincy