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How do I know I paid a fair price?

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peipose

Rough_Rock
Joined
Apr 12, 2010
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I recently purchased an engagement ring from a local Rogers & Hollands store. They had a special show where a designer came in and had some unique settings. Anyway, I really loved one setting that was priced at a whopping $7500 (setting alone, no center diamond). Considering I wanted to spend between $3000-5000 total, it was a ton.. but it was by far my favorite setting. It has two pear shaped side diamonds and numerous smaller diamonds in a pave setting.

After lots of talking and haggling, I eventually got the setting down to $4999 and found a diamond for $1500. Still way above my intended budget, but I can always return it if I don''t find something else. Since it was a "one day show" and a "one of a kind setting" (sales pitch perhaps?) I just went ahead and bought it.

So my concern is.. how do I know the setting is actually worth what I paid? In all of my searching online, it''s rare that I came across a setting alone that cost anything near that amount. And while it''s a spectacular setting, I''m left feeling uneasy that I may have gotten ripped off.

Do you have any suggestions to calm my mind? Do I have to get the ring appraised somewhere and pay the $150-200 appraisal for a ring I may end up returning anyway if I find something better? Is there another approach?

I''m sorry I don''t have any pictures to add right now... the ring is buried in a hiding spot, but I can add pics as soon as I can!
 
Cant really help you much without some pictures to compare with other settings. What is the setting made out of? I''m assuming plat?
 
You''re going to have to tell us more about the setting - the quality and weight of the stones (pears and center, etc.) and what metal it is made of... but $7500/$5000 for any setting (to me) sounds obscene... especially when your center stone cost $1500 (and the setting alone blows your budget). Are you sure your GF (assuming you are not the intended) would like this setting?

You''re going to have to give us a picture. Granted, designer settings are much more expensive but someone here recently was talking about getting a custom Leon with sidestone pears. Leon is expensive but I don''t believe the quotes came anything near $5000 - granted, I don''t believe micropave was quoted either, BUT a smaller center stone requires smaller side pears as well.

What did the $1500 get you in terms of the center stone? To give you some perspective - the "designer" aspect of it adds to the costs (Which designer was it? Was it even a top-end designer?), the micropave if well done can be expensive but the side stone pears also carry a significant cost BUT if your center stone was $1500 - think about how much those pears could cost in order for the setting to reach a $5000 price tag?

Show us what you''re looking for - we can probably suggest more reasonable alternatives or people/companies who have the skill to custom make what you are looking for.

Personally, and this is just for me, I would never spend that much on a setting and I would definitely not breach the top end of my budget significantly to get a setting (for a stone, perhaps, but not a setting).
 
I''m guessing you could get the same thing custom for much less, but it''s hard to know without seeing a picture. With your budget I would have done it the other way around and spent $5000 on a nice stone and $1500 on the setting. You can still get a really nice setting for $1500.
 
Ok, I finally took some pics! It''s harder to photograph a ring than I thought :)

Also, here''s the details:

Center Stone:
EGL USA GEM ID CARD
Weight: 0.62 ct
Shape/Cut: Round Brilliant
Color: I
Clarity: SI3
Measurements: 5.41 - 5.36 x 3.41 mm

I was actually not that happy with the color of this stone, and I am having the jeweler search for another one. It''s not that bad, but I think there is a noticeable difference compared to the more colorless side stones. Though the clarity is just an SI3, the inclusions are not very obvious even under a microscope. They may be hidden under the prongs.

Setting:
18k White Gold
24 Side Diamonds weighing 0.48tw-G-SI1 Round & Pear

Selling Price: $6529.00
Retail Price: $9610.00

IMG_0029041210.jpg
 
side view

IMG_0019041210.jpg
 
another angle

IMG_0014041210.jpg
 
last one

IMG_0006041210.jpg
 
The setting is a lovely design but I am sorry to say that I don't think you paid a fair price. Since you can, I suggest you return the ring and setting for a full refund - I wouldn't continue working with the jeweler. That setting especially in white gold can be had for MUCH MUCH cheaper. You can get a better made setting that looks almost the same in platinum for a lower price!

Contact http://www.briangavindiamonds.com/ or WhiteFlash. Tell them your budget is $5000 in total with a setting that looks like the photo. I am sure you can get a better quality and larger diamond combo with a setting that looks similar.

I can't really tell from the photos but those marquise don't look great to me. They look a bit cloudy for a lack of a better word.
 
If you can return the setting...I would recommend it.

That to me is way too much for that setting. Especially if it means going hugely over your budget and spending a huge amount less on the diamond. You can certainly find someone to design and make a setting similar in style but far better quality from what I see for less and put more $ into the diamond.

Sorry, but I do not think it was a fair price and I hope you can return it.
 
For what you did pay, you could get something branded with a higher ctw.


http://www.ritani.com/products/view/527/in_category/1

For a lot less, you could still get a designer setting, like Tacori 2585RD55

It doesn''t have pears, but it has that delicate side stone look.


http://www.topperjewelers.com/engagement_rings/tacori/2585RD55

I just think you can do better than that for that price, or spend a lot less on something you''ll love as much or more.
You should also browse through bluenile''s settings. I found a 1/2 ctw side stone setting in platinum for less than $2000.
 
Date: 4/12/2010 10:41:50 PM
Author: peipose
Ok, I finally took some pics! It''s harder to photograph a ring than I thought :)

Also, here''s the details:

Center Stone:
EGL USA GEM ID CARD
Weight: 0.62 ct
Shape/Cut: Round Brilliant
Color: I
Clarity: SI3
Measurements: 5.41 - 5.36 x 3.41 mm

I was actually not that happy with the color of this stone, and I am having the jeweler search for another one. It''s not that bad, but I think there is a noticeable difference compared to the more colorless side stones. Though the clarity is just an SI3, the inclusions are not very obvious even under a microscope. They may be hidden under the prongs.

Setting:
18k White Gold
24 Side Diamonds weighing 0.48tw-G-SI1 Round & Pear

Selling Price: $6529.00
Retail Price: $9610.00
Click to expand...
Really hope you can return the entire thing, not impressed with setting and especially not with the centre stone!
Just to give you an idea what you can get instead:

http://www.whiteflash.com/loose-diamonds/round-cut-loose-diamond-1848209.htm $4762 (1.06 J VS2 Whiteflash ACA) Ideal HA cut.
http://www.whiteflash.com/loose-diamonds/round-cut-loose-diamond-2164508.htm $4170 (0.91 I VS Whiteflash Near Ideal HA)

Then for 2500 you could easily get

http://www.whiteflash.com/engagement-rings/3-stone-antique-style-engagement-ring_657.htm (WG 1675 or Platinum 2975)

There are so many options with that buget and many other vendors you could even go custom for the setting.

For sure you can do much better than your current option,
 
Omg. It''s a nice setting but it pains me to know you spent that much on it. Please return it if you can. The very nice prosumers here will help you find something much more beautiful for less.

By the way, I also highly doubt that the center stone is an I color. It''s considerably more tinted than the G stones and I''ve seen GIA graded I and G''s side-by-side - the difference is not That big.
 
There are three beautiful pear side stone settings on the bottom of this page from Brian Gavin Diamonds (a very reputable dealer here): http://www.briangavindiamonds.com/engagement-rings/three-stone/?page=0 For two F/G VS 0.40 ct sidestone pears, the setting will cost $1,950. BGD can customize these settings to whatever you prefer - pave down the side and a different head holding the center diamond. I''m sure it won''t come to $5000 for the setting - even with any customizations you can think of.

I''m not particularly impressed with the quality of your current setting and I know BGD can do much better. (You can see more examples of their work in the Show Me the Bling Forum. People are very happy with BGD).
 
Yes, you got totally ripped off.
 
return it - for all that money you shouldn''t have an included stone like that!!!!!!!
 
Please do return it since you say you are within the return period. For your $5000 budget you could get (just as an example) this Tacori setting (platinum), and still have money left over for a nice center stone. Or for the $6500 you paid for the so-so ring you could have a knockout ring. Truly.
 
Date: 4/13/2010 12:29:35 AM
Author: joxxxelyn



For what you did pay, you could get something branded with a higher ctw.



http://www.ritani.com/products/view/527/in_category/1


For a lot less, you could still get a designer setting, like Tacori 2585RD55


It doesn't have pears, but it has that delicate side stone look.



http://www.topperjewelers.com/engagement_rings/tacori/2585RD55


I just think you can do better than that for that price, or spend a lot less on something you'll love as much or more.

You should also browse through bluenile's settings. I found a 1/2 ctw side stone setting in platinum for less than $2000.
Click to expand...

I know I already posted a response but I think this Ritani is an excellent choice if you are willing to still spend over budget.

However, I do think that it is best to stick to much closer to your original budget. Unfortunately, I think that even though you spend much over your original budget you settled on something that was not worth the jump. I do not think that setting is spectacular, and I am not even sure it looks all that well made - and even if it is handmade it seems a bit too "off" for me in some areas (i.e. it seems to be uneven from one side to the other?).

I do think you should go to Brian Gavin Diamonds or Whiteflash, tell them what your budget is, and end up with something under $5,000 that is far better quality than what you got. Many people around here are very, very happy with their work. Bluenile, as suggest above, often has even more affordable settings. You have to get the diamond through them too and they don't give information as readily as BGD or WF do, but they do tend to be popular around here too.

I don't think you have to go totally plain with the setting, but you can get a setting with sidestones in the $1,000-$2,000 range and spend the other $3,000-4,000 on a centre stone. If you are still willing to pay $6,500...I would reverse your spending to a $1,500-$2,000 budget for setting and a $4,500 - 5,000 budget for the center stone.

I would suggest you return this ring setting and the stone, and do some research around here on diamond buying, and even ask the forum for help finding a stone in your budget. You will find cut is very important, and really can enhance even a smaller stone - so that it looks bigger than many stones that are sold at a higher carat weight. Often maul jewelers sell stones based on knowing many are just looking for carat weight and not informed about other factors. And they can rip you off.

As this is an engagement ring...have you talked to your SO about what she likes? Has she shared what style she likes, or what her stone preferences are? Is she colour sensitive? Does she even want a round? And so on?
 
Ouch. Well, I wasn''t hoping for that kind of response but I have to say part of me was expecting it. Thank you guys so much for your honest opinions! You have convinced me to return the ring, which I will try to do as soon as possible. It''s unfortunate because I really do love the setting (I don''t think my pictures did it justice) but I''m sure my girlfriend will like whatever I give her. She isn''t picky. Not to mention I did go way over my budget, and that''s been stressing me out big time.

The difficult part is she left it pretty wide open in terms of the kind of ring she wants (she wants it to be a complete surprise!) I''m pretty sure she''s open to a vintage look, sidestones, or even just a basic solitaire. But I want to give her something kind of unique because she appreciates that kind of thing which is why I''m leaning away from the solitares

Basically, this is what I know:
* Somewhat delicate, nothing too large or complicated in design
* Not a very high mount for the diamond.. I got her a 3 stone ring before that was a little too "pointy" I guess, and it would sometimes catch on clothing or scratch either her hand or mine :)
* A vintage, unique look is a plus but not necessary
* Not too large
* Not 6 prongs
* Round diamond, but she kind of likes it when the 4 prongs ''square it out'' a bit so that it doesn''t look "too round" :)
* The ring itself should be pretty round, a smooth shape overall without a "flat" or square looking top view if that makes sense

She really will probably love whatever I give her, even if it''s a J color SI3.. she probably will never even care what that means. Although I know the shinier it is, the more she''ll adore it!

Anyway, I''m going to try to return the ring in the next few days when I get a chance. Meanwhile, I''m going to continue the stressful search! I need it by mid-May... I never considered the custom route, partly because since I''m not even sure what kind of ring she wants, I''d like to have that cushion of returnability just in case. It pains me to know that the custom route would be cheaper than what I paid though!

iota15, that 3 stone pearl diamond linked above is very beautiful (http://www.briangavindiamonds.com/home/ring-details/?product_id=5362)! It would be nice if it had the pave down the side, but I''m afraid my time window is narrowing and plus I''d be so nervous knowing that it''s not returnable. I''m considering that one though! :)<BR
I''ve also had an eye on this one at Blue Nile http://www.bluenile.com/diamond-engagement-ring-setting-white-gold_5846 --- obviously I''d be going the opposite route there, and spending a lot more on the diamond rather than the setting.

The Ritani ring above is extremely beautiful, but I think that one MIGHT be a bit too complicated for her taste. But I do like it. I think I''d like the center diamond to stand out a little more size-wise over the side diamonds, and in that case the pave around the pears makes the side stones look even larger. (I may be using the wrong terminology, sorry if so!) I wish I was a better judge of rings, especially online! It''s hard for me! :)

Thanks again for all of your feedback and suggestions, and by all means keep them coming!

You guys are amazing. So glad I found this place!
 
Well, if returnability of the entire ring is a major concern, but you still want something nice, you should probably look at whiteflash. I''m fairly certain that you can return the whole shebang (unless customized). Please double check this though. I also think it will be a bit nicer than what bluenile can provide. Although, bluenile is also a good choice. Just make sure you evaluate cut carefully, and I''d probably go with a signature ideal cut (and post the certificate here so you can get advice).

If you want to keep sidestones minimal, you should look at this legato. The following suggestions compromise your ability to have pear side stones, but those may be hard to get with a return policy included since you may have to get them customized. usually, customizing voids a return right. You may want to consider whether pears are really worth searching for.

http://www.whiteflash.com/engagement-rings/the-legato-diamond-engagement-ring-with-shared-prong_1058.htm#

This looks delicate and it''s a four pronged setting that would look really nice with a well cut round diamond. I think it would be hard to go wrong with that.

I think you should also look at this onehttp://www.whiteflash.com/engagement-rings/styles/diamond-settings/petite-champagne-pave-diamond-engagement-ring-by-wf_1120.htm

I saw a picture of someone who had it here on pricescope and it was absolutely enchanting. The diamonds in the setting just blended into the metal and it looked like stardust sprinkled around the finger. There is also a version of that with round side stones.

And then you can pop something like this in

http://www.whiteflash.com/loose-diamonds/round-cut-loose-diamond-2275633.htm

It is colorless and not very included. You could also go down to J and an eye-clean SI1 if you wanted more carat weight in the center. A well cut J will not look yellow, but you seem a bit concerned about the specs of the diamond. Look at some of their expert selections too. They still have a wonderful cut and save money.

http://www.whiteflash.com/loose-diamonds/round-cut-loose-diamond-2252149.htm
 
Thanks joxxelyn! I really wish WhiteFlash had more pictures of the settings. The first one you linked is actually pretty nice.. the second one is probably too modern for both of our tastes, though it''s certainly beautiful and eye catching. I also was looking at this one: http://www.whiteflash.com/engagement-rings/flush-fit-diamond-engagement-ring_1063.htm#

She never specifically said she wanted pears or even sidestones at all, again she''s pretty open in terms of the design. I just liked the way the pears were a subtle compliment to the center diamond. Gotta say though I''m loving the idea of getting back into the $4000-5000 range for the whole thing :)

And you''re right, I am pretty hung up on the specs.. even if something looks good to the eye, I''d feel better knowing it''s colorless, an ideal cut, and has few inclusions. Obviously my impulsive buy of the ring I have now doesn''t reflect that, but let''s just say I wasn''t thinking straight under the stress at the time!
 
Date: 4/13/2010 1:09:41 PM
Author: tyty333
Here is a 3 stone with a little bit of an antuque feel...

http://www.idjewelryonline.com/product_info.php?cPath=22_28&products_id=2670&cType=ER
http://www.idjewelryonline.com/product_info.php?cPath=22_28&products_id=5858&cType=ER
http://www.idjewelryonline.com/product_info.php?cPath=22_28&products_id=1745&cType=ER
Click to expand...
Wow, I really like the second one! Together with this diamond it only comes to $4,636.43! Now we''re talkin'' :)

Is it good to have faint florescence in the diamond? Does it add to the shininess?
 
Date: 4/13/2010 1:33:06 PM
Author: peipose

Date: 4/13/2010 1:09:41 PM
Author: tyty333
Here is a 3 stone with a little bit of an antuque feel...

http://www.idjewelryonline.com/product_info.php?cPath=22_28&products_id=2670&cType=ER
http://www.idjewelryonline.com/product_info.php?cPath=22_28&products_id=5858&cType=ER
http://www.idjewelryonline.com/product_info.php?cPath=22_28&products_id=1745&cType=ER
Click to expand...
Wow, I really like the second one! Together with this diamond it only comes to $4,636.43! Now we''re talkin'' :)

Is it good to have faint florescence in the diamond? Does it add to the shininess?
Click to expand...
According to the numbers that should be a nice stone. You would need to call ID Jewelry to see if they have it in house. Can they send
you any pictures or images? I dont remember off the top of my head what all they can provide as far as images go.
 
I don''t know if you read my post but there is a simple solution. You love the setting you got - so why not custom make something that looks EXACTLY the same but better made. The setting you purchased was not well made - not symmetrical, pave work is very so so, etc. Whiteflash or Brian Gavin can custom make the setting to look like what you purchased but with better quality diamonds and workmanship. You don''t have to dig around catalgoues to look for something you like or something that is similar. Just send them the photo and say - I have $5000 - make me something that looks like this but better.

I would never go with a company to purchase a diamond just because I like a setting they offer.
 
Date: 4/13/2010 2:24:26 PM
Author: CharmyPoo
I don''t know if you read my post but there is a simple solution. You love the setting you got - so why not custom make something that looks EXACTLY the same but better made. The setting you purchased was not well made - not symmetrical, pave work is very so so, etc. Whiteflash or Brian Gavin can custom make the setting to look like what you purchased but with better quality diamonds and workmanship. You don''t have to dig around catalgoues to look for something you like or something that is similar. Just send them the photo and say - I have $5000 - make me something that looks like this but better.

I would never go with a company to purchase a diamond just because I like a setting they offer.
Click to expand...
Yes I did read your post (thanks!).. It''s amazing to know that I could just get it custom (and probably better) for cheaper, but my only issue with going that route is it''s a non-refundable sale. Especially when buying online, I need to have that flexibility. It would be different if I was 100% certain that was the right setting, but to be honest after looking more at other settings there are many others I like too. I don''t want you to think I ignored your post though, it''s just the final sale thing makes me nervous.

On the other hand, I''m starting to entertain the idea of getting a setting from one place and the stone from another.. I thought that would be a lot of work, time and money, but maybe not?
 
Well, at some point you''re just going to have to organize your priorities. If your priorities are unclear, you still need to do some homework. Ordering from online means you''ll need a clear picture of what you really want and that will help you order appropriately. So prioritize, and then just take the plunge and something (not customized, since you can''t return it) either from bluenile or whiteflash after prioritizing your four Cs and setting criteria (I picked them due to return policies). I think whiteflash is ideal because they give more information on the stones. If you love it, great. If not, send it back. Internet vendors offer good return policies not only because they believe in their products, but because you can''t hold the product first. However, you don''t want to plan on making a return. If you don''t want to go this route, you''ll have to resign to selecting rings from brick and mortar stores. It''s up to you if you want to do this but you will pay a premium with very few exceptions. At least if you go back to B&M stores you have a better idea of reasonable pricing.

What part of the country are you in? It may be possible to see some items from some of these vendors. I think I''ve read about people visiting Whiteflash before (in Texas?). Bluenile is not a vendor you can visit.
 
You might want to check out the Abazias website too. They have some nice reasonable priced settings. I've ordered from them before and they have very quick shipping and my returns were very easy.

Similar to Blue Nile
http://www.abazias.com/database/engagement-rings/Etched-Engagement-Ring-With-Round-and-Princess-Side-Stones_ENG-SS-99-10758.asp

Similar to Blue Nile
http://www.abazias.com/database/engagement-rings/Engagement-Ring-with-Round-Channel-Set-side-Stones_ENG-SS-99-10463.asp

Not exactly what you pictured but a nice platinum Ritani for $1510
http://www.abazias.com/database/engagement-rings/Ritani-Platinum-Engagement-Ring-with-Round-Accents_ENG-SS-128-123.asp
 
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