EGL reliability

[sasaija]

11 years of marriage and no diamond. Time has come. I wish it hasn''t because I am so frustrated with this search. NO two diamonds are created equal, right? I was looking at a diamond certified by EGL. 0.70, brilliant round, E, SI1. Dimensions 5.64 - 5.57 X 3.63 mm. It is already set in platinum 6 prong tiffany. My concern is that EGL has value (replacement value) listed as 6000 US$. However, store is selling it for 2999 $. This sounds too good to be true so I am suspecting that either something is wrong with the certificate, or that EGL is not very reliable. How does this sound to you experienced people? (My knowledge is very limited and naturally, I am afraid of rip off) Thanks for any help that you can give.

 

[Caratz]

It is common in the industry for the "appraised value" of the stone to be twice the real market value. Never rely on an appraisal when you are thinking about buying a diamond!

 

[newenglandgemlab]

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On 11/25/2003 3:13:29 AM Caratz wrote:

It is common in the industry for the 'appraised value' of the stone to be twice the real market value. Never rely on an appraisal when you are thinking about buying a diamond! ----------------

Can we make that never rely on the appraiser/appraisal provided by the seller?? Cindy

 

[aljdewey]

Well, it's not an ideal cut. ....if it were, measurements would be more along the 5.75-5.80 mm range.

As a base for comparison, this stone.... .71 F, SI1, round ideal cut stone with a better lab report (GIA) runs $2647 http://www.whiteflash.com/diamonds/diamond_Details.aspx?itemcode=GIA-13013644

Personally, I don't think the EGL stone is any deal....it's $350 more for an inferior cut, and even if the stone is truly an E, you're sacrificing cut for a jump in color that no one can see with the unaided eye.

Hope this helps.

 

[Caratz]

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On 11/25/2003 10:47:08 AM newenglandgemlab wrote:

----------------
On 11/25/2003 3:13:29 AM Caratz wrote:

It is common in the industry for the 'appraised value' of the stone to be twice the real market value. Never rely on an appraisal when you are thinking about buying a diamond! ----------------

Can we make that never rely on the appraiser/appraisal provided by the seller?? Cindy ----------------

Yes -- that's what I meant (and when buying a "second hand" diamond, never rely on the appraisal that person received the first time around as a buyer).

Cindy, I know that there are honest appraisers out there, and I know it is necessary to get a stone appraised when you buy. I think it is a good idea to ask you appraiser: First, how much would it cost me to replace this stone if it was ever lost? Second, how much could I expect to receive for this stone if I ever had to sell it? Comparing those two numbers will give you a realistic idea of the actual value. Do you agree?

 

[newenglandgemlab]

Yes -- that's what I meant (and when buying a 'second hand' diamond, never rely on the appraisal that person received the first time around as a buyer).

Cindy, I know that there are honest appraisers out there, and I know it is necessary to get a stone appraised when you buy. I think it is a good idea to ask you appraiser: First, how much would it cost me to replace this stone if it was ever lost? Second, how much could I expect to receive for this stone if I ever had to sell it? Comparing those two numbers will give you a realistic idea of the actual value. Do you agree?----------------[/quote]


I agree that we sould be giving prices that reflect what it would cost to replace the stone or item. But, I don't think very many consumers will want to hear what happens when they may want to liquidate. Jewelry is an investment in pleasure (not monetary)for many years to come. Cindy

 

[Richard Sherwood]

-----------
Never rely on an appraisal when you are thinking about buying a
diamond!
-----------

Whoa, whoa, whoa!

How is a consumer to know what they're buying if they don't have somebody knowledgeable telling them what's what?

I would change that statment "to rely upon an appraisal by an appraiser whom you've hired to work on your behalf".

A good appraiser can keep a consumer out of trouble and often save them considerable money, for a modest fee.

 

[Richard Sherwood]

Sorry, I made that post before I read your qualifying statements, Caratz.

Good advice.

 

[niceice]

Can the words "EGL" and "reliability" be used in the same sentence?