Did I get a good deal on this diamond?

[lefter5314]

I'm a complete novice in this field but would like to get more involved in it. I bought this a bit impulsively and was wondering did I get a good deal? Similar diamonds go for the 3 to 4K mark on dealer's websites but how much could I get for it as a consumer? Not that I'm planning to sell just out of curiosity. I spent exactly $1000 on it.

 

[lovedogs]

No, you definitely didnt get a good deal. The stone is poorly cut and graded by a low level lab. So assume it's an I1/L.

 

[sledge]

It seems to me you’re only focusing on the dollars and ignoring all the differences that yielded that low price.

It’s a poorly cut stone by a questionable lab so the data you have to base value upon is shaky at best. And even if it was a true SI2, most aren’t eye clean and/or have transparency issues making them less desirable.

In an effort to find you some comparable prices I searched JA. I limited stones to similar specs and only from IGI lab. I believe IGI > AIG so I believe these values are still inflated. However if you could find someone to buy them at RETAIL price then you might make a small profit. The bigger question is why they would buy from you (meaning ANY private party) vs retail where the buyer is more protected, has upgrade policies, credit options and generally presumed as safer?

The most logical way is to incentivize with a lower price. That further cuts an already slim profit. Also even most novice buyers are seeking GIA 3X stones. You could have this stone regraded but that is additional cost and time and will likely yield worst cut & clarity grades further decreasing your potential ask price.

Unless you have bought this stone for a very specific purpose (not resell) then I would return it if possible so you avoid a headache and loss of money.

All Diamonds - Magnified in 360° HD | JamesAllen.com

James Allen offers a wide selection of GIA, IGI and AGS certified conflict-free loose diamonds, all viewable in 360° HD. Take the guesswork out of buying a diamond.

www.jamesallen.com

 

[Wink]

Welcome to Pricescope.

You have received some excellent advice. If you take it and return the diamond, you will eventually learn enough about diamonds to be very glad you did. If you study hard, you may also eventually be one of the respected members offering help to other searchers.