Beginner-need some help

[Brocksgirl24]

Hi all! My boyfriend and I just recently started looking for engagement rings. I think after researching online and reading these boards I have an idea of what I am looking for but I obviously want to get the best quality for the best price. The only places we have gone too so far have been in the mall. We went in there with a budget of $5000 Canadian and hopes for a .75-.85 carat ring. Well, we quickly had to lower our size expectations and raise our budget! For instance, Birks showed me a ring with these specs:
.58, VS1, H for $7400!
After browsing online, that seems to be extremely overpriced. Am I right? Is it much more affordable to buy a loose diamond online and have it set somewhere else? Typically how much does it cost to set a ring? I know, lots of questions! By the way, I''m in Toronto, Canada. Anyone know of any good independent jewellers? Thanks all!

 

[Diamondsbybree]

$7400?? WOW, I definately shop online.

There are sooo many wonderful

dealers on Pricescope.
GoodOldGold.com you might want to check out.

 

[Gale]

Are you aware of the big jewellery building at 21 Dundas Sq. in Toronto? It is across the street from the Eaton's centre, at the end where Eaton's used to be. You will be able to do much better there pricewise, both for a stone and a setting. There are several jewellers located on the first floor of this building, and the upper floors contain a number of offices/workshops. In general, you need an appointment to get in to see someone. Also, an appointment is a good idea so the jeweller can get in the sort of stones you want to look at. You could go in and initially cruise the building's directory for different jewellers. Just keep in mind that these offices/workshops are not glamourous and glitzy, like the Birks stores are, and you are not going to get a plush little office, coffee service, and a fancily dressed salesperson.

Additionally, there is http://www.usacerteddiamonds.com. This company operates out of Thornhill. Martin Sheffield and company, will most likely refer yo to Victor, at Rose's at 21 Dundas Sq. (416-366-1157). Victor has done some beautiful work for me in the past. If Victor doesn't have what you want, Martin and company can get it for you. If you want more information about Victor, you can PM me.

There is also http://www.diamondexchange.ca. I think that is located in the TD building downtown, but am not sure about that. I believe you can make an appointment to go view stones there.

Best of luck! You can do much better than the Birk's price for a ring like that!

 

[Gale]

Sorry BG, I should have asked you what kind of setting you want? Are you looking for a standard sort of Birk's solitaire with the sapphire underneath, or something fancier? Simple tiffany style, thin, thick, platinum, gold? Many of the diamond sellers in that building also offer many popular settings for you to choose from, if you don't want to have something custom made for you.

 

[JC]

Brockgirl24....I would definitely sugest going online. You don't have to purchase the loose diamond and get the ring from somewhere else either. Most online vendors can provide the diamond as well as the ring for you. You'll definitely get a better price. Check out the vendors right here on Pricescope. I'm sure that you will find success in a short amount of time. Good luck...

 

[Gale]

One of the problems you will face with purchasing the stone from an online US vendor are the punishing duties and taxes you will incur when the stone crosses the border from the US into Canada. I did some research on this last spring, as it was something I was considering. Expect to pay Mr. McGuinty and Mr. Martin the usual PST/GST (15% total for Ontario residents), and on top of that, an additional 15% to Canada Customs and Revenue (or whatever they are called now). If I remember correctly, if your stone is .5ct and bigger, an additional duty is imposed for that.

 

[Brocksgirl24]

Thanks everyone for the advice and thanks for the referral Gale. I've already spoken with Martin and Victor today and we already have an appointment on Sunday to see some diamonds! They both seemed really nice and helpful. And the prices are unbelievable, I'm very excited. There is an Ideal cut hearts and arrows, VVS1, G color, .74 carat for $4750.00 (taxes included). We are really interested in that one. So we'll see! Thanks again.

 

[Gale]

Fabulous Brockgirl. I really liked both Martin and Victor. And Victor's work for me was fabulous. Good luck on Sunday