Did I make a mistake?

[Mary Ellen]

I bought a fairly expensive diamond while I was on a cruise in St. Maarten. I took it to a local jeweler here at home, who told me that it was probably not the grade that I was told it was when I purchased it. The color was supposed to be a "J" and the clarity VS1. Size is 1.37, pear shape. They question the color, not the clarity, and grade it K in color. Depth: 65.30%, Table:51%, Crown: 17.30%, Pavilion: 42.20%, Girdle: Thin to thick faceted. Polished and symmetry: Good

The original appraisals were from Universal Gemological Services and European Gemological Labratory. I guess they are affiliated with one another. Should I question their creditability? I paid $5,200.00 for the diamond alone. Do you think based on the given information that even at a K color, it is worth more than the purchase price?

I live way up here in northern Iron Mountain, Michigan, so it is not easy to get to an independent appraisal on this stone.

Please help us with some needed advice.

Thank you,
Mary Ellen

 

[thrill08]

Yes, you made a big mistake. EGL is not as reputable as GIA and AGS. EGL is more lax in their grading and therefore the discrepancy in the color grading. I know this is not comparable, but from one of the stores in Los Angeles Jewelry District a 1.01 VVS2 F color was offered to me for $5430. But I did not purchase it because it was EGL certified. I don't know much about pear shaped diamonds, but from the extensive research I've been doing for my future fiance's diamond, you overpaid for the ring.

 

[Adrienne]

Another way to look at it...

You bought it while on a cruise - do you, at this point, have the option of returning it? There is no sense in making yourself feel bad about a purchase if there is nothing you can do about it. (of course, I do that all the time

)

If there is no chance of returning it - be happy with what you purchased. Obviously you saw something you liked!

I wouldn't worry too much about the color being off by a grade - it is not uncommon for there to be a difference of one step in color, especially if your local jeweler is just eyeballing it. If you really want to know then send it off to an independent appraiser who will give you a good determination of color and clarity.

But I would sit, content, with what you have!

 

[thrill08]

I like the advice above about looking at it in a positive light. I was just being straightforward since I too have been looking for a diamond.

 

[Mary Ellen]

Yes, I bought it on a cruise. I still have the opportunity to return it, if it does not appraise out at purchase price, or stop payment via the credit card company. I guess what I need is an honest appraisal by an independent by June 7th. Any ideas on the quickest means to do this?

 

[Adrienne]

Mary Ellen -

I'd find an appraiser or two off of the pricescope board (there is a page that lists appraisers) and send 'em an email. Coordinate with one of them, then you can overnight your diamond...

I hope that helps!

 

[Nate]

Seems you can get a really nice round in nearly that size for nearly that price... a pear shape should be a little less expensive just because it isn't a round. I'd recommend getting it appraised ASAP.

 

[Mary Ellen]

Adrienne,
I took your advice and emailed Mr. Atlas and Mr. Cannon from the above list of appraisers. I will wait for their advice on how to proceed from here. Maybe the diamond will be worth close to what I paid for it. I know my husband just wants me to be happy with whatever I purchase. He is such a great guy and tells me that I'm the one who makes the diamond look beautiful, not vise versa!
Thanks for the help.

 

[pqcollectibles]

Hubby definitely sounds like a keeper!

 

[Nate]

Oooo thats a good one Mary Ellen, gonna have to use it!

 

[jlim]

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On 5/28/2003 7:24:13 PM Mary Ellen wrote:
I live way up here in northern Iron Mountain, Michigan, so it is not easy to get to an independent appraisal on this stone.
----------------

Mary Ellen - I live in Houghton for a number of years. Yeah, other than the natural beauties, there isn't much else to do.

Btw, even if the appraised value comes up higher than what you paid, you should take that with a grain of salt. From reading numerous postings here, most ring buyers who appraised their diamond rings usually get it appraised more than what they paid for (for insurance purposes). In your case, let's hope the appraisal doesn't come back with a value less than what you paid.

But Adrienne is right. If you can't return it, be happy with it and don't make yourself stressed out over the situation.