Buying a round diamond w/ no cert??

[wcduke]

Hi!
I visited, what I believe to be anyway, a reputable jewelry store last night looking to purchase a diamond and band for an engagement ring. I have purchased a diamond from this store back in 1998 and the store is aware of that.

Anyway, I was shown a round stone, but there was no certificate with it. The jeweler claims that it is .30 carat, approx G color and approx SI1 in clarity (based on his inspection). He also told me that he thinks the diamond was cut back in the 1910''s or 1920''s. He stated that he COULD send this stone out to be certified if I was truly interested in it, but they typically don''t get certs for diamonds that small (.30 carats) if it doesn''t come into the store with one already.

He said I would pay $1050 for this stone.

What are your thoughts on this situation? Is it typically OK to buy a stone of this smaller size w/ no cert? And what about that price of $1050? Is it a good one? What should I do?

Thanks so much for any help anyone can provide!!

 

[bar01]

That price is way too high. Do a search on the main page and you will see what a superideal H&A diamond will run you.


For an example see this

.3O ACA

 

[denverappraiser]

wcduke,

The date that he gave you would suggest that this is an Old Mine or Old European cut. Is this what you are looking for? I rather like them but I'm surprised you didn't mention this in your question and it's usually a fairly specific request. It's not unusual for such stones to be sold without a lab report because the report itself would become a significant portion of the value of the piece. Make sure to get an independent appraisal of the stone before you make your final commitment. It's especially important for this type of stone because it's so difficult to quantify the grading and cutting information.

Neil Beaty, GG ISA
Independent Appraisals in Denver

 

[oldminer]

Assuming the grade is correct, the diamond is substantially expensive. You can certainly find similar for less. It sounds as if the stone is an old European cut which will look a little different than a modern cut diamond, but it is not worth MORE money than the same quality modern cut of the same quality.....so just be careful and use restraint.

I love old cut diamonds because of their relative rarity, their general appearance which favors larger scintillation highlights, their history, and the workmanship of some of the items that go with them. However, there is a fair price on them, not a crazy one.

Besides, with no cert, how sure will you be of the grading you have been given? Accuracy does count.

 

[valeria101]

Well, you can always compare that quote with other diamonds'' that you may find appealing and take it from there.

For example, there is this one 0.38 E/VS2 AGS0 cut grade of about the same weight and price but better grades, or 0.5 G/SI1 for about the same. The same weight and grades you were offered would cost less, even in a better than average round brilliant (0.38 G-SI1, no cert, $500). Online you will find smaller diamonds with certificates, even if this is less common outside virtual sales. Unless there is a cut grade on the cert (AGS) or better stats (say, GIA''s Excellent grades for polish and symmetry), the added cost due to the presence of a lab report should not be very great still keeping cost well below 1k.

There are plenty of quotes like these around here - these examples come from just one shop for conveniece (all I had to do is run one search instead of 10 ).

Hope this helps