Fair Price???

[jason1997]

Hi all,
What a great forum this is. So educational. I am in the process of buying an engagement ring and wanted to make sure that I am not getting ripped off (I am sure that I am not the first to be posting something like this).
Anyway...here are the specs that I have on it.
The ring is being sold by an individual in my town, not a business and is asking for $4000.

Princess cut in a Platinum setting 2.5 mm wide
1.47 carats
Length - 6.10 mm
Width - 5.99 mm
Depth - 4.79 mm
Cutting - Fair
Color - H Provisional GIA
Clarity - SI1 Provisional GIA

The appraisal was done by a local jeweler. How much should I be willing to pay? It says it is appraised at $14,000 but I would imagine the appraisals are always higher than what they actually sell for.
Thanks for your help.

 

[jason1997]

By the way, here is the picture that I have

 

[ButterBean]

Hi Jason,
I am not the most experienced poster, but I would definitely NOT purchase a diamond at any price, if the cut is only "fair." It won''t have much sparkle. Please consider looking for one that is at least "very good" but "excellent" if possible. I think you''ll be glad later.
BB

 

[Cocosgirl]

Definitely agree that a fair cut won''t be a pretty -- if you are really interested I would find an independent appraiser (not a jeweler) and see if the info matches up. Does the owner of the ring have documentation from GIA?

 

[Herfnerd]

I agree with BB and Coco - the ''fair'' cut is a no brainer and I would take a pass.

Not sure what the ''Provisional GIA'' ratings are about, but I would rather have an independent appraisal rather than a local jeweler''s.

JMHO and YMMV

 

[swingirl]

At that price what''s the possibility of getting it recut? I think you''d need the GIA and ask a cutter what are the options. It''s a low price but if the cut is only fair it''s not going to be a very sparkly stone as is. I had a fair cut recut and am very happy with it. It, of course, lost some weight. Just something to think about.

 

[Kaleigh]

Date: 7/27/2008 8:46:15 PM
Author:jason1997
Hi all,
What a great forum this is. So educational. I am in the process of buying an engagement ring and wanted to make sure that I am not getting ripped off (I am sure that I am not the first to be posting something like this).
Anyway...here are the specs that I have on it.
The ring is being sold by an individual in my town, not a business and is asking for $4000.

Princess cut in a Platinum setting 2.5 mm wide
1.47 carats
Length - 6.10 mm
Width - 5.99 mm
Depth - 4.79 mm
Cutting - Fair
Color - H Provisional GIA
Clarity - SI1 Provisional GIA

The appraisal was done by a local jeweler. How much should I be willing to pay? It says it is appraised at $14,000 but I would imagine the appraisals are always higher than what they actually sell for.
Thanks for your help.

I'd pass. A couple reasons, mainly the cut is fair. That's a deal breaker for me!!

So this jeweler is saying what GIA would give the stone, is that what you mean by provisonal GIA??

If you want a kicken Princess cut check out www.whiteflash.com and www.goodoldgold.com Read tutorials, the CUT is key to buying a beautiful diamond. If you want us to help, all you need to do is ask. Give us a budget, and we can go from there. Best of luck!!!

 

[jason1997]

Thank you all for your advice. I guess I didn''t realize how important the cut was in the grand scheme of things. I''m so glad I posted on here.
I am a high school teacher so my budget is a little tight. I know that my girlfriend wants a princess cut diamond in a platinum setting. Of course the bigger and sparkley the better. It definitely needs to be at least a carat but hopefully a little more than that.
I am hoping to spend, in total, around $5,000, but could go as high as $6,000 (although I might pass out spending that much).
If anyone has any suggestions I would greatly appreciate it. Thanks again to everyone.

 

[Lorelei]

Date: 7/28/2008 1:39:17 AM
Author: jason1997
Thank you all for your advice. I guess I didn''t realize how important the cut was in the grand scheme of things. I''m so glad I posted on here.
I am a high school teacher so my budget is a little tight. I know that my girlfriend wants a princess cut diamond in a platinum setting. Of course the bigger and sparkley the better. It definitely needs to be at least a carat but hopefully a little more than that.
I am hoping to spend, in total, around $5,000, but could go as high as $6,000 (although I might pass out spending that much).
If anyone has any suggestions I would greatly appreciate it. Thanks again to everyone.

Welcome to Pricescope!

I also ditto passing on that diamond! It is cut which will get you a lovely diamond, and a fair cut isn''t the best way to go. With your budget, I take it those figures are to include the setting too? What type of setting do you have in mind, as that will make a difference to the budget, if you could let us know, that would help!

From a quick look, here is a lovely stone you might like - http://www.goodoldgold.com/diamond/4461/