Help Needed - buying a ring !

[Leonawyn30]

Hi all, am hoping you can help with below - cant believe how great the advice posted here is:

I am flying to new york in 2 weeks to purchase a vintage engagement ring. I know my budget and what I want looking for (Unique with carat weight up to 1.5, budget of $8,000) and have picked out a few places to go (Diamond district - Israel Rose & Doyle and Doyle).

1) If I find a ring I like it is it standard to take this away for an appraisal after purchase or before purchase or how does it work ? I really dont want to get ripped off - I have searched diamond district on the net and some stories are scaring me !!. Israel rose metions ''all over the counter sale are final''.
2) I presume a level of negotiation is expected - esp in the diamond district, can anyone put a figure on this or is it down to the seller ?
3) and specifically on the ring: I am looking for approx 1.5 carat, whats your recommendation on the lowest grade of diamond you could go for ie what should be ringing alarm bells when he shows me !!!

hope these Q''s make sense - I am in a total panic over this !!! any other recommendations or general advice would be great.

Thanks

L

 

[Lorelei]

Date: 1/16/2010 8:12:49 AM
Author:Leonawyn30
Hi all, am hoping you can help with below - cant believe how great the advice posted here is:

I am flying to new york in 2 weeks to purchase a vintage engagement ring. I know my budget and what I want looking for (Unique with carat weight up to 1.5, budget of $8,000) and have picked out a few places to go (Diamond district - Israel Rose & Doyle and Doyle).

1) If I find a ring I like it is it standard to take this away for an appraisal after purchase or before purchase or how does it work ? I really dont want to get ripped off - I have searched diamond district on the net and some stories are scaring me !!. Israel rose metions 'all over the counter sale are final'.
2) I presume a level of negotiation is expected - esp in the diamond district, can anyone put a figure on this or is it down to the seller ?
3) and specifically on the ring: I am looking for approx 1.5 carat, whats your recommendation on the lowest grade of diamond you could go for ie what should be ringing alarm bells when he shows me !!!

hope these Q's make sense - I am in a total panic over this !!! any other recommendations or general advice would be great.

Thanks

L

Welcome to Pricescope Leona and thank you for your very kind words, so glad you find us helpful!

Are you looking for an actual vintage ring or a reproduction? What shape diamond are you interested in, a modern round brilliant, fancy shape or vintage cut such as an Old Mine Cut etc?

It is cut quality which can make or break the beauty of a diamond, judging the cut can be rather different with old cut diamonds or when preset in rings rather than with loose stones, particularly modern round brilliants. However if you read the Pricescope Tutorial you will find it very interesting and helpful, it will give you a good introduction to cut and other diamond basics.

As to the appraisal it is best to negotiate a return policy if you can and have the agreement in writing signed by both seller and buyer, to give you time to get the piece appraised. Also in the agreement stipulate that you can return the ring for any reason during any agreed return period. There are some well regarded appraisers in NY, here is a tool you can use to look some up here.

Personally I would not want to buy from a vendor who does not offer a return period but thats me, your comfort level may be different but with the amount of vendors that do offer returns it could be quite possible to get what you want from one of those rather than risking being unhappy and being in no position to do anything about it.

Negotiation - certainly you can try. I would say though, please be careful as the diamond district can be hazardous for the rookie buyer, here are some vendors in the NY area you could consider, you would need an appointment for each.

www.goodoldgold.com are in Long Island.

www.exceldiamonds.com in NYC

www.engagementringsdirect.com in NYC

www.idjewelryonline.com in NYC

www.jamesallen.com have offices in NYC

As to the diamond itself and the lowest colour and clarity grades are that you could choose, this depends on the shape and cut quality of the stone. If you were to look at a modern round brilliant of great cut quality, you could look at H to J colour and SI clarity grades as long as the diamond is eyeclean,( read more here on that issue) and assuming the diamond was graded by either GIA or AGS, these are the top 2 grading labs so I would stick to diamonds graded by those labs.

Also if you were open to buying online sight unseen, these vendors sometimes have vintage rings and old cut diamonds available.

www.jewelsbyericagrace.com

www.singlestone.com

www.pearlmansjewelers.com

I hope this helps and feel free to ask as you have more questions