Comments on Shane Co. and opinions on my purchase

[kskistimas]

I'm a complete novice when it comes to selecting diamonds. I've learned a lot since I started shopping last month and today I took the plunge. Perhaps I'm having buyers remorse tonight possibly for actually putting out the cash, but what I really want a nice engagement ring for my future fiancee.

This afternoon I purchased a wedding set and a diamond from my local branch of Shane Company. I'm not too concerned about the ring, but I'd like opinions on whether I should get a better diamond or if I paid too much.

The stone I purchased is 1.03 CT F I1 and I paid $4315. Based on my research this appears to be a fair price for this size. What I'm wondering about is this standard quality for an engagement ring diamond or should I exchange the stone for a smaller and better quality one?

I'm happy with the color but the clarity is on my mind. The one I picked out has an inclusion that's mostly hidded by the facets and very hard to locate by the naked eye. There's also a tiny speck of a mineral deposit in the bottom but it's not noticable without a lupe. I had the option of going with a .85CT that had better clarity but was 2 lower on the color scale. I could see the difference with my naked eye so I chose the larger one with better color.

Any opinions on this purchase and/or the Shane Company? Like I said I'm a novice but I want something nice and don't want to be taken on the deal. I have 30 days to return or exchange so I'm continuing on my homework. Sorry for such a long post, thanks in advance.

Ken

 

[lawmax]

Hi,

We don't know enough about your diamond to tell you if it is well cut. The cut would determine if the price you got was generally fair. If it is poorly cut, you may have paid too much. If it is well-cut, you may have done ok on price since you bought from a brick and mortar, chain-store retailer where the mark-up will be higher than online.

Did this diamond come with a grading report from GIA or AGS? Any other report is less reliable. If it didn't come with one of these reports, we can't even be sure what the color and clarity of the diamond are and can't compare prices for you.

You may want to ask a good independent appraiser (one who does not sell diamonds) to evaluate your purchase. It would be best to have this done with the diamond out of the setting. It would be nice if you had a Sarin report. A Sarin machine measures the proportions of a loose diamond and many sellers and appraisers have one and will provide you with this information. We could tell more about the cut of your diamond with the table percentage, depth percentage, crown angle, pavilion angle, girdle measurements, dimensions of stone, and culet information. You may want to make sure that when you look at the diamond in various types of natural lighting, you can't see that inclusion. Also, have the appraiser check out that inclusion to see if it will affect the durability of the diamond. I would go down in color a bit to get better clarity. I'd consider going just under 1 carat which buys you the ability to move around pricewise in terms of color, clarity and cut quality.

Since you have a good return policy (you can really return for a full credit/cash back?), why don't you read the information on this site and, if buying in person, consider buying an ideal scope. You'll see links in the menu bar above. You can click on "pricescope" and do searches for diamonds similar to yours to see online selling prices. You really need to be comparing diamonds with similar cut quality and compare diamonds with grading reports from the same lab.

I know this is a lot for a newbie. Feel free to ask questions and post any more information that you have about your diamond here.

 

[kskistimas]

Thank you very much for your reply, it was very informative. I did a little more research yesterday and the diamond I purchased is GIA certified. In addition, the Sarin report is included in the GIA cerification.

I spoke with a Shane Co. representative this morning because I noticed big differences in the prices of diamonds with identical color, clarity and size to mine on their web site. Some were $3500 on the low end and the high end were $4500. Why the variance in price? Is it all due to the quality of the cut? Are there variances in the F color grade and the I1 clarity? Apparently most of thier diamonds are considered good to very good for the quality of the cut. Her estimation was that my diamond was very good and that's why it was on the higher end of the price scale. Only a GIA report will tell the truth.

The more I think about it I think I'll take the advice to go down in color and up in clarity. Side by side I could see the difference in the color but mounted the inclusion is more likely to be picked up on. The fact that it's graded as having a visible inclusion is really weighing on my mind. Since I/we will have to live with this for the rest of our lives I don't want any regrets.

The Shane Co. offers an unconditional 30 day money back guarantee as well as a lifetime warranty so I feel secure as far as that aspect of the purchase goes. I'm definately going to take them up on it

 

[lawmax]

If you post the Sarin information for stones you are considering, we can help you with information regarding the cut quality.

 

[kskistimas]

I've decided against the original 1.03 CT F I1 stone I was looking at in favor of a .91 to .94 G or H S1/SI2 diamond. The lure of a 1CT diamonds is pretty great but the inclusion was just too noticable for me to go with it in good conscience. They are having the new diamonds shipped in for me to look at tomorrow. They are around the same price point - $4100 to $4500. We'll see how it goes. I'll see about getting the Sarin information.

 

[lawmax]

Sounds like a good plan if the new diamonds are well-cut. Definitely post those Sarin results here. Try to see those diamonds outside of the jewelry store's spot lighting and see which appeals to you.

 

[tucker_emma]

Take it back ASAP! I got totally screwed by them for over 5k and I wish that I had been educated enough to know that I should have returned it. My advice, if you are wavering...take it back. After a pre-determined amount of time you are stuck with it. And don't let them talk you into store credit! If anything, take it to an independent jeweler that seems reputable and ask their opinion. Good Luck!

 

[Mara]

Just wanted to point out that kskis's post was written over a year ago. I think her return policy is probably well over by now

Anyway--on the topic of the Shane Co in general...they are pretty highly reputed here in the Bayarea for 'good deals' and decent (read mass consumer) quality...my mother got her 5 stone diamond ring there and she loves it. She gets tons of compliments on it all the time. I went to look at their stuff, and they have a huge setting collection but nothing that appealed to me at the time. Their stones are very nice, but they are pricey, esp when compared to online. I found much better deals in cut, color, and clarity on the Pscope search after visiting the Shane Co when we were looking. (Example was 1.20c H SI RB for $11k at Shane Co).

My consensus on them is that if you are looking for settings, they have tons to choose from. My mom loves her ring, and she buys all her fun jewelry from them too. But for the diamond itself, I would definitely not purchase there.

My two cents!

 

[PoopEater]

All I know about the Shane Co. is that I absolutely *HATE* their radio advertisements. The voice of that guy makes me want to strangle someone with a piano wire.

 

[Mara]

But PoopEater...Now YOU'VE got a friend in the diamond business!!!

You're SO ungrateful!!

 

[PaperCharlie]

I've also had very good service with the Shane Co. Their settings are very reasonable and their warranty is also very good. I purchased a diamond online at a very good price and they are setting it for me. I can't wait to give it to my soon-to-be fiance!!!

The store I went to was very complimentary of the stone I purchased and in no way talked it down. They do charge $1 per point for mounting a stone that is not theirs the first time. Thereafter, the stone and setting are warranted as if you had purchased the diamond from them. Subsequent upgrades are also part of their warranty and are priced as if you had bought the stone from them.

The store I'm working with is in St. Louis. Their sales people are not on commission and are very professional and helpful.

I'm on a limited budget, but was able to pick up a very nice 1.13 I SI1 princess cut diamond for $2000. Their setting with wedding band is $250 plus $113 for warranty/mounting. I'm very pleased with the price and overall experience with both Shane Co. and Diamond Trading Center in California.