I think I found the one... Now what?

[NewKidNeedsBling]

Armed with the knowledge and insight you've given me here, I found what I think is a real stunner. Two questions before I pull the trigger...
1. Any concerns or thoughts on this stone?
1.11 I vvs2 gia 3x
Hca 1.1 with x x x vg
I saw the ideal scope and ASET in person and both looked to be very good based on what I learned here. Thick arrows and symmetrical hearts, then mostly all red on the ASET with no noticeable white spots.

Gia report:
http://www.gia.edu/otmm_wcs_int/pro...ReportNumber=5F981ECD0D65710E53D5DC29B2655486

2. Before buying it, what steps do I have to take? I.e. Appraisal - do I get that before I purchase? Where does one have to go for that?
Insurance? Other considerations? Can I ask him for the images of ideal/ASET before I buy and say it's for an appraiser?(to have u guys look at it) since I saw them already he'll probably be curious why I'm asking for the images.

bonus question - what do you think is a fair price for that stone?

 

[canvasback]

I'm gonna guess 8,073 for the stone. Is that close?

 

[diamondseeker2006]

I don't think you need to take any steps before buying it other than deciding how to pay for it, assuming you liked the stone and the idealscope images! Will this jeweler be setting the stone? If so, I would ask him for an insurance valuation once the ring is completed. But tell him you do NOT want an inflated ("feel good") valuation since really what you want to do is to be able to replace what you paid retail for. I prefer to insure for purchase price but some like the value to be about 10% over cost to allow for diamond price increases for awhile. Jewelers Mutual is an insurer that many people here use.

Congrats on your purchase!

Price comp: $7640 (but I see some comparable stones in the $6k range, also) You can compare price yourself easily online and you have seen the idealscope image, so I cannot see any reason to take the stone to another appraiser since it is GIA graded.

 

[NewKidNeedsBling]

Thanks for info, can I do it through renters insurance or is that not as favorable? It's right around 6k even, a little less for wire price, from a well regarded seller so I'm ecstatic that I found it in the only 5 days I've been looking. Right time and place I guess.

 

[diamondseeker2006]

Thanks for info, can I do it through renters insurance or is that not as favorable? It's right around 6k even, a little less for wire price, from a well regarded seller so I'm ecstatic that I found it in the only 5 days I've been looking. Right time and place I guess.

Yes, that is a very competitive price! You chose a very nice stone at a good price!

Some people do insure through renters or homeowners insurance. Just be sure the ring and diamond are covered for any kind of loss or damage. Diamonds can chip and sometimes a ring just disappears. You just want to be sure the ring is covered for everything. I think the advantage to JM is that they have worked with quite a few PSers and I believe they often will let you replace the stone through the vendor of your choice. But ask about that, too.