Traci, the reason the diamond is so cheap is that it is ugly.
Ugly doesn't sell, beauty sells. Therefore ugly diamonds are extremely cheap, because nobody wants them.
An "I-2" is a very imperfect diamond. In actuality, this diamond is more likely an "I-3" which is an extremely imperfect diamond. They have inclusions which jump out and smack you in the forehead.
Gigi, "cracked ice" is the appearance of these diamonds I'm speaking of. "I-3" is the clarity grade, the lowest there is, except for industrial grade bort. "Promotional quality" refers to about the only purpose they have, which is to entice people with the offer of a diamond at incredibly low prices.
Rich, GG
Sarasota Gemological Laboratory