Crazy stupid LGD pricing? Or the new normal?

[dumbo]

I posted another thread about LGDs recently; more of a perception conversation than anything, but it got me thinking. I really don't know what these go for. I've seen big diamonds from super ideal H&A vendors in the $10-20k range, and that's where I figured they fell; likely a bit cheaper from non H&A vendors.

I'm on some jewelry spam email lists. One is for a company called Luvansh. An email showed up in my inbox; I scanned their site and found this for $2759:

IGI Certified 7.51 F-VS2 Round Lab-Created Diamond

IGI Certified 7.51 F-VS2 Round Lab-Created Diamond

luvansh.com

So that you don't have to download the cert: it's 56 table, 62 depth. 34.3 degree crown and 40.6 pavilion angles. IGI rating (so take it with a grain of salt): F VS2, 7.51 carats. That's right on the cusp of an AGS "ideal" cut.

Again, less than $2,800 for a 7.5 carat diamond. It almost seems too good to be true; how is anyone making any money in this market?

 

[Kim N]

That is pretty nuts!

 

[0515vision]

Wow!

And just a little info about IGI color rating. With their entry into the lab market before GIA, they’ve had a chance to solidify their reputation. IGI color ratings are considered valid, and they’ve come down harder than GIA at times. I’ll have to document instances so that I can cite them in the future. But there was an LGD talk at GIA 1-2 yrs ago where a couple talked a bit about IGI. I’m pretty sure it’s on YouTube.

Nevertheless, that price is incredible!

 

[0-0-0]

Likely questionable CVD material and not eye clean at this size. I bought my 6.62 faint blue G VS1 for around $3000, so there are some “deals” around. Gives you an idea of how big the margins are in the lab market.

 

[dumbo]

Likely questionable CVD material and not eye clean at this size. I bought my 6.62 faint blue G VS1 for around $3000, so there are some “deals” around. Gives you an idea of how big the margins are in the lab market.

How can you rate the quality of the CVD material? Is it in the cert or something you just have to see with your own eyes?

 

[0-0-0]

Wow!

And just a little info about IGI color rating. With their entry into the lab market before GIA, they’ve had a chance to solidify their reputation. IGI color ratings are considered valid, and they’ve come down harder than GIA at times. I’ll have to document instances so that I can cite them in the future. But there was an LGD talk at GIA 1-2 yrs ago where a couple talked a bit about IGI. I’m pretty sure it’s on YouTube.

Nevertheless, that price is incredible!

Ada Diamonds Founders at GIA

<p class="" style="white-space:pre-wrap;">Ada’s founders Lindsay Reinsmith and Jason guest lecture at GIA on the quality characteristics of lab diamonds beyond the 4 c’s.

www.adadiamonds.com

 

[dumbo]

Wow!

And just a little info about IGI color rating. With their entry into the lab market before GIA, they’ve had a chance to solidify their reputation. IGI color ratings are considered valid, and they’ve come down harder than GIA at times. I’ll have to document instances so that I can cite them in the future. But there was an LGD talk at GIA 1-2 yrs ago where a couple talked a bit about IGI. I’m pretty sure it’s on YouTube.

Nevertheless, that price is incredible!

Thanks-I'll look for it.

It just amazes me that you can grow, process, market, and ship a stone of this size for under $3,000.

 

[0-0-0]

How can you rate the quality of the CVD material? Is it in the cert or something you just have to see with your own eyes?

Best to compare in person, can see some of the defects in vendor videos but may not be noticeable in person. Not graded by GIA or IGI.

 

[Slickk]

The LGD Reddit community was cautious that it may be a scam. Brand new poster purchasing from an unknown new company with unbelievably low prices. Said buyer also was not able to get her preferred diamond and they switched it for another one. Bait and switch? Buyer beware?

 

[0-0-0]

Results of AGS Graded Lab Diamonds vs. IGI & GCAL

We were invited to participate in the pilot phase of AGS's return to grading lab diamonds, and we have the results back from our first few batches graded by AGS. Most of the stones we sent were previously graded by IGI or GCAL so I am sharing the results with the community to address the...

www.pricescope.com

GIA Graded Lab Diamonds: First Results!

Last week I shared the results of AGS’s return to grading lab diamonds, as part of our involvement with the AGS lab diamond pilot program. We are also one of the first to receive full-fidelity GIA grading reports, with 17 diamonds sent to GIA for secondary grading. The results? Unsurprising...

www.pricescope.com

 

[Inked]

I have just seen prices literally ALL over. Sometimes even for the same diamond (as pointed out on another thread). I think you will get some crazy good deals if you're searching a lot. I think there was a bump around the holidays and now maybe they're trying to move some things that didnt previously sell.

Yesterday I saw something i liked that was $13,000 on Ritani, and the same one was $6900 (after coupon) on Brilliance and $8800 on Friendly Diamonds

 

[0515vision]

Thanks-I'll look for it.

@0-0-0 found it! It’s the talk by Ada Diamonds that they inserted in a reply to me. It’s full of great info.

 

[0-0-0]

I have just seen prices literally ALL over. Sometimes even for the same diamond (as pointed out on another thread). I think you will get some crazy good deals if you're searching a lot. I think there was a bump around the holidays and now maybe they're trying to move some things that didnt previously sell.

Yesterday I saw something i liked that was $13,000 on Ritani, and the same one was $6900 (after coupon) on Brilliance and $8800 on Friendly Diamonds

Yes in the case of my find the report is from 3 years ago, so the supplier probably just wants to clear out old inventory. The price history is absolutely nuts.

Price and quality scores for IGI Number LG480149917

View the fair price estimate, Cut Score® and price history for IGI Certified Diamond LG480149917. Everything you need to know to buy this diamond.

www.stonealgo.com

 

[DejaWiz]

I've seen this Luvansh seller mentioned a few times recently - i have my suspicious.
Much of their listed stock doesn't appear to be available at other popular online sellers that did once have a listing for the diamonds.
"Oops, sorry that one is no longer available...but we have this other 'comparable' option for twice the price!"
Hopefully I'm wrong with such a hunch.

 

[Slickk]

I've seen this Luvansh seller mentioned a few times recently - i have my suspicious.
Much of their listed stock doesn't appear to be available at other popular online sellers that did once have a listing for the diamonds.
"Oops, sorry that one is no longer available...but we have this other 'comparable' option for twice the price!"
Hopefully I'm wrong with such a hunch.

That’s what this poster said. And they never even cleared the change of stone with her/him. Just set a different oval in the soli and shipped it out. Supposedly, the specs were better but still…

 

[oncrutchesrightnow]

Re Luvansh - Not uncommon for certain lowball vendors. Beware verbiage like “contact me before checking out because stone availability may change.” Also when communicating with them, ask them to explicitly state that the diamond in the image (take a screenshot) is the diamond you will get.

Re LGD prices - No guaranteed but I believe the more expensive ones are on their way down for certain cuts and colors. But maybe the smaller, common cuts and colorless like on Etsy are closer to the end. One thing that makes it hard to say is that LGD have such value in technological contexts, that LGD jewelry may eventually sell for otherwise irrational prices.

 

[dumbo]

That’s what this poster said. And they never even cleared the change of stone with her/him. Just set a different oval in the soli and shipped it out. Supposedly, the specs were better but still…

Ouch. NEVER do this if you run a business. Even if you are upgrading a customer's item, reach out and use it as an opportunity to "sell yourself". I'd love getting a phone call that said "hey, the stone you ordered is out of stock but I can send you a stone with a slightly better cut and better clarity for the same price". Never assume that the buyer will figure out they've been upgraded on their own; never assume that they will even want the upgrade. In short, never assume.....

As the seller, it's your job to keep the buyer aware and informed. Also, if you are good at your job, you control the narrative. Why would you ever let the buyer find out potentially bad news on their own? Or allow them to frame what should be good news (free upgrade!) as a scam?

 

[concun]

I just dipped into LGD this year and spent 20k or so, I would not lie to say that I would kick myself in the ass if these cost 5k next year to replace. But I also spent $$$ on designer costume jewelry so in the end, jewelry brings joy and that is what matters. I keep telling myself that every time I reach into my pocket lol.

 

[tomato]

I posted another thread about LGDs recently; more of a perception conversation than anything, but it got me thinking. I really don't know what these go for. I've seen big diamonds from super ideal H&A vendors in the $10-20k range, and that's where I figured they fell; likely a bit cheaper from non H&A vendors.

I'm on some jewelry spam email lists. One is for a company called Luvansh. An email showed up in my inbox; I scanned their site and found this for $2759:

IGI Certified 7.51 F-VS2 Round Lab-Created Diamond

IGI Certified 7.51 F-VS2 Round Lab-Created Diamond

luvansh.com

So that you don't have to download the cert: it's 56 table, 62 depth. 34.3 degree crown and 40.6 pavilion angles. IGI rating (so take it with a grain of salt): F VS2, 7.51 carats. That's right on the cusp of an AGS "ideal" cut.

Again, less than $2,800 for a 7.5 carat diamond. It almost seems too good to be true; how is anyone making any money in this market?

Could you find a stupid price on a high color, symmetrical marquise? Asking for a friend!

 

[tomato]

I have just seen prices literally ALL over. Sometimes even for the same diamond (as pointed out on another thread). I think you will get some crazy good deals if you're searching a lot. I think there was a bump around the holidays and now maybe they're trying to move some things that didnt previously sell.

Yesterday I saw something i liked that was $13,000 on Ritani, and the same one was $6900 (after coupon) on Brilliance and $8800 on Friendly Diamonds

Ritani has marked a lot of their stuff up recently. Their pear & marquise eternity bands increased in price around 41% just in time for a 50% off sale. Looks like they got a bit too popular.

 

[DejaWiz]

That’s what this poster said. And they never even cleared the change of stone with her/him. Just set a different oval in the soli and shipped it out. Supposedly, the specs were better but still…

Just saw a post over there from a customer...yikes!
A front with bait and switch to clear out old stock?

 

[Slickk]

Agreed. Very suspect to be sure. The reply from the vendor makes me scratch my head too. Do they not understand us diamond buyers and our spec-conscious minds? Apparently not.

 

[jaqjaqjaq]

@DejaWiz oof! That is sketchy as hell! There has to be some regulation they are violating.

 

[DejaWiz]

Anyone else notice the leading prong at the tip of the pear?

 

[0515vision]

Anyone else notice the leading prong at the tip of the pear?

 

[jaqjaqjaq]

Anyone else notice the leading prong at the tip of the pear?

That was an extra special detail, you know, for new customers

 

[DejaWiz]

That was an extra special detail, you know, for new customers

Aerodynamics - less wind resistance and drag.

 

[jaqjaqjaq]

Aerodynamics - less wind resistance and drag.

Clearly meant to be beautiful AND functional! Hahaha

 

[DejaWiz]

Clearly meant to be beautiful AND functional! Hahaha

It's really gonna stick out from the crowd!

 

[DejaWiz]

All joking aside, I would be one furious customer - switching diamonds (especially fancy shapes which are so hard to get right) and shoddy bench work = completely asinine.