First time buyer--Help!! (also posted in RockyTalky)

[clueless26]

Hi...
As you can see by my name I don’t really know a lot about diamonds. I have recently began looking for a diamond, and have read a few websites and understand a little bit more than I did a few months ago but not enough to feel comfortable about buying a diamond on my own yet. When I started my search all I knew was that I like princess cut the best. I love to look at a round diamond, but when I put it on I don’t like it. I wanted something new, so I thought..at least a carat, the best cut, G-H and the highest clarity I can afford. On Monday I went with my mom to a place that sells ‘junk’, but also estate and vintage jewelry. I thought I’d check out his diamonds just because. And that is when I was introduced to an OEC that I’ve been dreaming about since. I don’t know a lot about it yet (except it is the most sparkly thing ive ever seen). All I know is that it’s supposedly a carat center stone with two baguettes on both sides totaling .15. It is set in a square platinum setting so the round diamond looks square, and he says it’s G in color. I don’t know clarity, or anything else. I am going back tomorrow to look at it and get some more information. What kinds of questions should I ask? I would definitely want to get it independently appraised so I know exactly what I have, so I do know I want an airtight return policy first and foremost. It is priced at $3795. Is that reasonable? I know I’ve not given you much information about it, but that’s all I know at this point. Does anyone have any good questions I could ask about this ring? I do have one picture I took with my camera phone... Thanks…McKinley

 

[LGK]

Hi...
As you can see by my name I don’t really know a lot about diamonds. I have recently began looking for a diamond, and have read a few websites and understand a little bit more than I did a few months ago but not enough to feel comfortable about buying a diamond on my own yet. When I started my search all I knew was that I like princess cut the best. I love to look at a round diamond, but when I put it on I don’t like it. I wanted something new, so I thought..at least a carat, the best cut, G-H and the highest clarity I can afford. On Monday I went with my mom to a place that sells ‘junk’, but also estate and vintage jewelry. I thought I’d check out his diamonds just because. And that is when I was introduced to an OEC that I’ve been dreaming about since. I don’t know a lot about it yet (except it is the most sparkly thing ive ever seen). All I know is that it’s supposedly a carat center stone with two baguettes on both sides totaling .15. It is set in a square platinum setting so the round diamond looks square, and he says it’s G in color. I don’t know clarity, or anything else. I am going back tomorrow to look at it and get some more information. What kinds of questions should I ask? I would definitely want to get it independently appraised so I know exactly what I have, so I do know I want an airtight return policy first and foremost. It is priced at $3795. Is that reasonable? I know I’ve not given you much information about it, but that’s all I know at this point. Does anyone have any good questions I could ask about this ring? I do have one picture I took with my camera phone... Thanks…McKinley

You need to find out the condition of the stone and the setting for sure- that's something you can do yourself (somewhat) with a loupe. Bring a loupe for sure. Check out the girdle on the stone carefully, in particular. Antique stones were frequently cut with razor-thin girdles and thus are very frequently chipped. If it is chipped, is it a chip you can see with the naked eye? If so, is the chip large? Personally, I am usually OK with a chip that is only loupe visible, or if the price is right one that is just barely eye visible. Any scratches?

Also check the prongs in profile to see if there's enough metal holding the stone in there- often a ring that was worn for decades can need the prongs retipped. Check the shank- is it worn really thin? Will you need it reshanked? All that gets pricey. Was it ever sized? If it was sized up, can you tell if it was sized with platinum, or white gold? Often lazy or not so well equipped benches use white gold to size platinum rings up- however, it doesn't hold very well and is not good workmanship. You and/or the seller may not be able to tell if white gold was used for repairs, but an IA or bench should be able to tell. If so it can be an expensive PITA to rectify depending on what was done to it. I had one setting that the entire fishtail prong part was white gold that someone had plopped on the PT setting as a crappy repair, and I had to pay to have them totally redone by hand in PT, which was pricey.

Is the diamond actually an OEC? I assume you know it is, but just in case, don't assume it is just because the setting is period. Many old settings have fairly modern RBs in them, and vice versa. Is the cut great in all lights? You want to see edge-to-edge fire and light return. You don't want to see the center of the diamond just sitting there, not doing anything. Or darkness under the table. Does it have a lot of fire in general? A well cut OEC is typically balanced more towards fire rather than brilliance/white light as light return, and a good one should be a firecracker. Is the table smallish, the crown high, and the culet the size you like? Is the culet centered, more or less? Do you like the pattern it shows? Is the girdle super thin, and if so, does the setting protect it enough?

If you can, bring another diamond which you know the color of, to help you evaluate color. It is going to be hard for you, and even for an IA, to evaluate higher colors when a diamond is set. A G colored OEC is a hard thing to find, so the price is really hard to comment on, too many variables. If it is a great cut and the stone's in good condition, if it's truly a G, if you love the setting and it's in good shape, and the stone's eyeclean, then I would say go for it- it'll be hard to replicate all those factors. Frankly new platinum settings are expensive all by themselves too, so I think the price is fine.

Often when I'm buying an antique piece, I kind of decide what level of compromise I'm OK with, versus what I paid, if that makes sense, because it's pretty rare for something to check out as 100% what you hope it will. Like, if I buy a piece, and I know it was a good deal but I doubt that the color is actually what the seller thinks, then I usually decide before hand what color I'm OK with it being, and at what point I would return it. Like, if this piece is absolutely everything you want EXCEPT it's an H or I or J color, what's OK? Is H all right? How about J? What about if it is only eye-cleanish? Or the setting needs work? That sort of thing.

I'd also negotiate on the price aggressively, especially if you find something about it that needs work. I would probably start by asking for 20% off; with antiques, even high ticket items, that's usually a good starting place and not going to insult the seller. I'd make the offer, and if they don't accept it, ask them to hold it (usually 24 hrs is OK) while you think about it and then leave it for the day, and leave your cell # if possible. As much as you wish that sellers don't play games, it isn't unusual for them to not give their bottom price initially but to wait for your move to decide if they'll drop down to your offer price. Lame, yes, and I hate having to play games, but over the years working with antiques, that's the method I've definitely found works best.

Good luck! It is a lovely setting. Haha, I guess I wrote a novel for you, sorry!