Help with diamond price?

[thebottomline]

Hi I just purchased a diamond ring from a local nyc jeweler for $3,300...would someone be able to tell me if I got a good price? The diamond is a weak "G" color(close to "H" color, but not quite), 1.04 carat, radiant cut, VS1 (non-enhanced diamond). The jeweler described it as having an excellent cut. The ring is 14K white gold, size 4.25. I asked the jeweler to show me the inclusion, and he only found a tiny one, which I was able to see through a 10x loupe, so I assume the VS1 grade is correct. Just want to see if I was overcharged or not. I appreciate your comments, thank you!
-thebottomline

 

[kenny]

Is there a lab report for the diamond that independently verifies everything the jeweler claims?

 

[Lorelei]

Date: 11/1/2009 11:19:12 PM
Author: kenny
Is there a lab report for the diamond that independently verifies everything the jeweler claims?

Ditto, such as GIA?

 

[denverappraiser]

Date: 11/1/2009 10:38:22 PM
Author:thebottomline
I asked the jeweler to show me the inclusion, and he only found a tiny one, which I was able to see through a 10x loupe, so I assume the VS1 grade is correct.

-thebottomline

There are stones with these specs that are for sale here ranging from $3,600-$10,200. Yours is below the price of the cheapest so you might be inclined to take that as evidence of a bargain but I would be inclined to disagree. A bargain is possible, but far more likely is misgrading. Are you really a skilled enough grader to tell the difference between a VS1 and an SI1 as you’ve said above? You’re betting several thousand dollars on it. Similar size SI1/I/radiant drops the range here to $1800-$5700. That’s still a big range, and you’re still in the middle of it but your evidence of a great bargain has evaporated. Maybe he''s right, and maybe it is a deal, but you’re really concerned about the grading, hire an expert and properly equipped grader who is working for YOU, not for the jeweler. On the other hand, if you''re inclined to trust the jeweler implicitly with regard to the grading, you might as well trust them on the pricing as well.


Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

 

[thebottomline]

Date: 11/1/2009 11:19:12 PM
Author: kenny
Is there a lab report for the diamond that independently verifies everything the jeweler claims?

Hi Kenny, thanks for asking, yes there is a certificate from a lab called Global International Gemologists...not sure how independent that lab is though....thanks for responding to my inquiry!

 

[thebottomline]

Date: 11/2/2009 4:53:37 AM
Author: Lorelei

Date: 11/1/2009 11:19:12 PM

Author: kenny

Is there a lab report for the diamond that independently verifies everything the jeweler claims?

Ditto, such as GIA?

Hi Lorelei, thanks for taking the time to respond, I am actually thinking of getting the ring checked by a GIA lab in NYC...not sure I can trust the one I received with the purchase. I appreciate your time!

 

[thebottomline]

Hi there Neil,

Thank you very much for taking the time for such an in-depth response! As I mentioned to the other kind folks who responded to my post, the ring did come with an appraisal certificate from a local laboratory in the diamond district. It is supposed to be independent, but I assume that the jeweler has a ongoing relationship with the lab

....I am looking at some GIA labs in the midtown manhattan area, I need to find one where I can have the diamond certification done right in front of me. Do you have any recommendations of a GIA gemologist that does that, and approximately how much I should expect to pay to have it done on this 1.04 carat ring? If not, I still appreciate your in-depth response from before. Thank you!

 

[Lorelei]

Date: 11/29/2009 10:57:24 PM
Author: thebottomline

Date: 11/2/2009 4:53:37 AM
Author: Lorelei

Date: 11/1/2009 11:19:12 PM

Author: kenny

Is there a lab report for the diamond that independently verifies everything the jeweler claims?

Ditto, such as GIA?

Hi Lorelei, thanks for taking the time to respond, I am actually thinking of getting the ring checked by a GIA lab in NYC...not sure I can trust the one I received with the purchase. I appreciate your time!

You are most welcome! What I would suggest is to get an independant appraisal, if you check out this tool you will see there are some listed appraisers in the NYC area - appraiser tool.