Helping friend at work buy diamond...

[dmband]

I am known as the guy at work who researches everything before I purchase and always find the best deal on what I buy or get the most for my money so someone at work asked me about helping him find a diamond for an engagement ring. She knows she wants a round white diamond 1.5 carats and they have been to a jewelery shop in the local mall and the two they are looking at are:

1.51 Carat
S12 Clarity
Very Good Cut
E Color
$10,100


1.66 Carat
S12 Clarity
Very Good Cut
E Color
$11,720

Not sure if these would come with a grading report or not yet. Was just wondering about these specs in relation to the price. I told him he could get better deals online and more for his money plus save on paying tax. Thanks!

 

[Dancing Fire]

I am known as the guy at work who researches everything before I purchase and always find the best deal on what I buy or get the most for my money so someone at work asked me about helping him find a diamond for an engagement ring. She knows she wants a round white diamond 1.5 carats and they have been to a jewelery shop in the local mall and the two they are looking at are:

1.51 Carat
S12 Clarity
Very Good Cut
E Color
$10,100


1.66 Carat
S12 Clarity
Very Good Cut
E Color
$11,720

Not sure if these would come with a grading report or not yet. Was just wondering about these specs in relation to the price. I told him he could get better deals online and more for his money plus save on paying tax. Thanks!

not for a correctly graded stone.tell him he's dreaming

 

[dmband]

That's what I figured. Where should I be looking for a round white 1.5ct?

 

[denverappraiser]

Two big issues here:

1) Make sure to understand the SOURCE of the grading information. This is almost certainly the issue in this case. They are not all the same and the difference between what two different graders call an ‘E’ can be substantial. The same issue applies to clarity.
2) Make sure to understand what ‘very good’ cutting means. Again, they aren’t always the same and the differences are considerable.

Start in the database here and shop theoretically. Do a search, sort it and see what the differences are. Then change one variable and do it again. You’ll quickly see what changes what and what affects the asking prices. Even if your friend has no intention of shopping with any of these people it’s a fantastically useful and free learning exercise. You don't even have to give up your contact information.

 

[dmband]

Do you think it would be unreasonable to find a diamond better or equal to the ones I posted for the same price or less? Also it seems as though most graded diamonds to me are through GIA would you say they are a reliable grading report or recommend another? Thanks.

 

[denverappraiser]

Do you think it would be unreasonable to find a diamond better or equal to the ones I posted for the same price or less? Also it seems as though most graded diamonds to me are through GIA would you say they are a reliable grading report or recommend another? Thanks.

I think it's unlikely you'll meet or beat that budget with accurately graded stones of those specs. I am suspicious of the offer on the table becasue of the lack of attribution on the grading but I would certainly ask. I will be surprised if these are GIA.
Yes, I think GIA is a reliable source for grading information.

 

[dmband]

I did ask him to see if there is a grading report so I'll have to see. Not sure am I allowed to tell you the store's name that he got the information from? I believe they are a national chain. Are these national mall chains notorious for inflating their diamond specs?

 

[Mrs.W 514]

Turn and run from the national mall chain and never go back!!! He will overpay for something that is lower quality then he wants and it just will not look as good as it should.

http://www.briangavindiamonds.com/

http://www.whiteflash.com/

http://goodoldgold.com/

http://www.jamesallen.com/

 

[periwinklegirl]

Are these national mall chains notorious for inflating their diamond specs?

YES!!

I can't say that strongly enough.

By at least 40-50%, and typically for very low quality stuff. With iffy return policies. After all they have to pay rent, right?

 

[denverappraiser]

Yes, you are welcome to give any names you want. Jewelers are not permitted to promote themselves or disparage others but you can do both within reasonable limits of good manners.

 

[dmband]

The store was Littmans where he saw the two diamonds in question. So if he buys the same specs from a reputable source online graded by GIA then it should still be considerably better quality than what they are offering I assume.

 

[denverappraiser]

If you want to compare apples to apples, ask Littmans to give you prices on GIA graded stones that they have for sale. They can get 'em just like everyone else can. Whether or not they want to offer attractive stones at attractive prices when compared to the competition is up to them. As you've discovered, it's easy enough to shop.