Go to the diamond district or stay online?

[mitsitsad]

Hello all,

I live in Southern NJ and am taking a trip up to NYC this weekend - since I'm in the market for a diamond I was planning on checking out 47th street in NYC. I also have Jeweler's Row nearby in Philadelphia. I would assume NYC is better, but is that so? Where can I expect to get the best deal, online or in store? As far as haggling, can you reference an online vendor to make a retail store drop their price? I've read several online articles on this topic, but any first hand advice would be appreciated.

 

[slg47]

I would definitely do your homework online before shopping. What are you looking for? Keep in mind also that online you may be less likely to be talked into a 'deal' that isn't a 'deal'.

 

[denverappraiser]

Each has it's advantages. Careful shopping online tends to produce better prices. Shopping in person allows you to see the merchandise and you have more information to work from (your eyes). The online vendors are generally more transparent in that they have to say everything in writing and if they feed you a line of BS they're more likely to get called on it. If you buy in person, the deal goes faster in that you pick one, you pay, you take your stuff and you're gone. No shipping time, standing on line at FedEx, etc.

The location of the store doesn't have much to do with it. What you're looking for is the character of the people behind the counter/keyboard, not the address. There's nothing about NYC or Philadelphia or Antwerp that's importantly different in terms of what you get or what they charge. Stores charge whatever they want, they get it or not depending on their customers, and those who don't quicly change their procedures or go away. It's just not a function of address. The exception I would make to this 'who cares about the address' advice is that there's something to be said for shopping nearby your home because it's much easier to deal with potential problems.

 

[mitsitsad]

I would definitely do your homework online before shopping. What are you looking for? Keep in mind also that online you may be less likely to be talked into a 'deal' that isn't a 'deal'.

Thanks for the response - right now I'm looking for something in the realm of

Round, nice cut, 2ct+, G-I, SI2+

As far as price, I'm not so sure, but on the main stone I'd like to keep it around $5k-$7k if that's at all possible - I see prices online, but I feel as if you had a wad of cash to lay down on the table, a local jeweler would be more willing to haggle (much like buying a car)

as far as being talked into a deal, I'm about as cheap as they come - I have no problem finding a second hand diamond (neither does she) and would be fine getting something from a pawn shop - problem with that is I have yet to find a reputable place like that selling 2ct+ diamonds, since they usually just flip those out to jewelers for a quick profit

 

[slg47]

what is your budget?

 

[mitsitsad]

what is your budget?

edited previous post

 

[slg47]

OK...you will either need to adjust your budget or your specs on this one. 5-7k will not get you a G-I SI2+ 2 ct well cut round brilliant stone. With that budget I think you are looking at more like a 1 carat.

 

[minmin001]

yes, you would maybe able to look for around 1ct with that budget..

 

[denverappraiser]

You are heading down a dangerous road. I, of course, understand the objective of getting the most for the least but the grades you’ve quoted are not a carved in stone issue. I GUARANTEE you that someone will offer you a stone that someone called a SI2/I/ideal cut /2 carat for at or near your price. It may be a bargain but be very nervous and pay attention to the details. Not all graders are the same and not all reported SI2’s are the same. The range is considerable. Same with color and cut. There are often important details that are not present on the report and the chances that there is something seriously amiss go up quickly as the apparent ‘bargain’ improves. Make sure you end up finding the best deal, not the biggest liar.

The database here is a useful educational tool for grounding yourself to reality. Look up a set of specs, sort them by price, ignore everything but GIA and AGSL stones and you'll get a pretty good idean of what an appropriate budget will be in a discount type marketplace for accurately graded stones. You'll also notice that there are usually a bunch of stones that claim a particular grade that are a whole bunch cheaper than that. Almost always these are graded by some alternative lab and/or have some other issue at play. It's good to figure out what it is. The difference in asking prices is easilly a factor of 2 and sometimes as much as a factor of 5.

 

[SB621]

5-7k for a 2ct you wont' find. I would think for 2ct you will need to at least double your budget for something of quality.

If you are looking for "used diamonds" then I would recommend contacting JbEG or Dover Jewelry to see what they have. They might have something around 1.5ct for you in that pricerange, but with lower specs.

 

[CaprineSun]

5-7k for a 2ct you wont' find. I would think for 2ct you will need to at least double your budget for something of quality.

If you are looking for "used diamonds" then I would recommend contacting JbEG or Dover Jewelry to see what they have. They might have something around 1.5ct for you in that pricerange, but with lower specs.

These days, more like triple that budget, maybe even a little more than that.

 

[Christina...]

I think that you really need to do some homework before you do any shopping online and especially in the diamond district. These guys in the diamond district are pros and if you can't keep up or hold your own your going to get eaten alive. I'd take a couple days and really read some of the information on this site. If you don't understand something someone will always be happy to help you. We are consumers looking out for consumers. If I were you I would take a look around locally and decide what really appeals to you, which qualities are most important to you and remember that for most of us, to stay within our budget you'll have to allow yourself some wiggle room somewhere. Good Luck!

 

[diamondseeker2006]

Yep, you'll be looking at 1 carat at that budget. Only look at GIA or AGS graded stones because those are the most accurate.

I think you have a high likelihood of getting taken advantage of with your goal of finding the cheapest stone possible.

Examples:

a 1.2 ct. J SI2 ideal cut is $6864 http://www.goodoldgold.com/diamond/8386/

a 2.0 J SI2 vg cut is $12,000 http://www.goodoldgold.com/diamond/8065/

If you deal with a vendor such as Good Old Gold, WhiteFlash, or Brian Gavin, you will have the option of upgrading in the future with 100% of the original diamond price applied to the new stone. That is a way to work up to a larger size later.

 

[mrssalvo]

Set up an appointment with Mark T at engagementringsdirect. He is in NY's diamond district I believe and also a pricescope vendor. He will help educate you but is also priced very competitively. If you have the time and car or want to take a train, make the trip over to Goodoldgold. It would be well worth the trouble. If you can meet with Jon and/or Mark you can learn how to tell good cuts from bad and see which one is the best value to you.

You have a nice budget but you won't be able to get a 2 carat stone unless it's poorly cut. Many poorly cut large stones will actually look the same size as an ideal cut smaller stone b/c they are cut deep to retain weight. I'm so glad you found PS and posted here before you went into one of those districts. We hear from many folks who buy under pressure at a diamond mart on some random "wholesaler" and then find out they can't return. I would also suggest you take no money with you if you do decide to go to either of the diamond districts. they will try to manipulate you that the deal is only valid if you buy right then with cash. Leave it at home!!!

 

[Christina...]

Set up an appointment with Mark T at engagementringsdirect. He is in NY's diamond district I believe and also a pricescope vendor. He will help educate you but is also priced very competitively. If you have the time and car or want to take a train, make the trip over to Goodoldgold. It would be well worth the trouble. If you can meet with Jon and/or Mark you can learn how to tell good cuts from bad and see which one is the best value to you.

You have a nice budget but you won't be able to get a 2 carat stone unless it's poorly cut. Many poorly cut large stones will actually look the same size as an ideal cut smaller stone b/c they are cut deep to retain weight. I'm so glad you found PS and posted here before you went into one of those districts. We hear from many folks who buy under pressure at a diamond mart on some random "wholesaler" and then find out they can't return. I would also suggest you take no money with you if you do decide to go to either of the diamond districts. they will try to manipulate you that the deal is only valid if you buy right then with cash. Leave it at home!!!

Excellent advice, leave the cash and plastic at home!! I do think it's important though to get an idea of what you like for size, color, setting, etc, but I really think that you should come back here when you have a better idea of what you want and allow some of these people to give you recommendations and suggestions, you'll be happy that you did!