Just got engaged! and I have a few questions on the ring

[cristaal]

Yay! I just got engaged this week and boy am I happy It's the setting that I fell in love with (Diana) and I love it! My fiance told me that the center diamond was GIA certified 1.0 carat princess cut diamond with S1 clarity and color of H. I went to the jeweler's today to see about getting it resized about maybe half a size down. It's not that big that I think it would fall off, but I guess b/c of the weight it tends to spin even though it has a euro shank. Anyway, the jeweler advised me not to get it resized because of the way it's shaped and instead to put small beads of gold on the inside. I don't want to do this because it would cover up the stamping of the 18k and Diana stamp inside the ring. What other alternatives would you suggest I do? I bought these plastic 'ring snuggies' that go inside of the ring, but they look awful and are not comfotable to me. Are there metal resizers that could attach to it without damaging the ring?

Also, about the diamond. I went to see if I could get the GIA certificate because all he received was an aprasial for the ring, and I found out that the diamond is not GIA certified, but what the jeweler told me that a GIA certificate is really personal preference and I believe that all the diamonds this particular store carries are very good quailty anyway. So, in your opinions, should I get it certified ($500 for GIA I was quoted around) and I'm not very much into status and showing off that I have a certified diamond...soooo I love it I think it's a beautiful diamond-what advantage would a cerfication bring me? All I know is the cut color and clarity - the jeweler assured me that for this 1.0 karat diamond s1 clarity and h color that with a certification would cost double and I would like to know if he got a good price for it. He paid $3200 for the diamond non certified. I know it shouldn't matter...but I'm just curious.

As far as ring insurance goes...it was apraised for $9800. I was recommended to get insurance on it which she said would only be like $2.00 a year I still have to look into it. Would you suggest getting it insured?

One more question! What kind of wedding ring would you suggest to go along with this type of rings given where the side diamonds are located? There is a matching wedding ring, but I would like a separate different kind of wedding ring.

Any other advice would be appreciated! I have also attached pictures of my ring thanks!

~Cristaal

 

[Maisie]

Congratulations - your ring is beautiful!!! (Sorry I can''t answer any of your questions - just wanted to congratulate you!!)

Maisie

 

[Moosejaw]

Hi...

Congratulations! That is very exciting, and you should be very proud. Your ring looks beautiful too.

Now...I think this is a very serious topic, as it sounds that your fiance was lead to believe the stone had a GIA certification. You are in a tough position since you love the ring, since its from him, and a speaking as a man...we never want to be ripped off when we purchase jewelry. In my opinion, it is very easy to be manipulated by a jeweler who is well versed in the industry, and be taken advantage of. i.e. He mentions GIA, leads you to believe the stone is, mentions a few of the 4 C's, and sells you a ring that you did not intend to purchase.

IF I were in this position, and lucky enough that my new fiance cared about the pedigree enough to ask for the documentation...and found out there was none...I would demand a refund, and I most likely would switch jewelers. I would than choose a ring and stone online.

I don't think I have a tendency to overreact, but I will take my business elsewhere.

I have a feeling that the jeweler is depending on you not caring about the quality of stone/ring now that it is in your possession and sentiment and emotional will take over so you don't return it.

With the amount of markup on diamonds, and the mass quantity available, and the major cost, I would want my fiancee to get exactly what I intended...and the pedigree and stats matter SOOOOOOOOOOOOOO much, it has nothing to do with preference. The pedigree, expecially the dimensions of the cut on the diamond matter so greatly, I doubt the fellow would even buy the stone back at anything near the price paid.

I am speculating, but it sounds so fishy and unfortunate.

I hope it can be resolved...I hope he paid with a credit card, as I would dispute my purchase...and return it, and not do any business with him. I would not be mad as the man who purchased it if my fiancee and I decided this, but yours may be different. I can certainly point you in the direction of some beauty rings that are most likely in the same price range.

-G

 

[Maisie]

Who appraised your diamond? Was it the jeweler who sold it to you?

 

[DignDive]

First off, a big congratulations on your engagement!

Now, I know you're excited and deliriously happy right now, but there's a few things you absolutely need to consider before you take another step. Again, I'm not trying to douse what is otherwise a joyous occasion for you, but there are some serious red flags that you need to address regarding the purchase.

1) A certification isn't about status. It's about standards and stating unequivocally that a diamond is, what the seller told you it is. Example, I bought a diamond with a non GIA cert that was advertised as a D/VS2...it turned out to be an I/I1. $3200 is about $1500 off the median for a 1carat H/SI1. That price is actually in the range of an H-I/SI2 or 3. You can confirm that yourself by using the Pricescope search engines or browsing any of the internet sites.

This is why it's important to get an independant appraisal to confirm what the dealer told you.

You might not necessarily have been "taken" but understand that the dealer may have sold you a lower quality stone, for a lower quality stone's price, yet marketed it as something it was not. That in and of itself is poor salesmanship and throws up even more red flags.

2) Appraisal values are typically used for insurance purposes...The number the appraiser comes up with has 2 practical applications to your situation:

a) It states the value in writing for legal purposes
b) It defines your insurance premiums. A diamond appraising at twice its value is nice for bragging rights, but completely impractical considering you're paying extra premiums for the overage.

Example:
Depending on your insurance policy, you have the option of getting a "like in kind" or "cash payout". To get the full value in a payout, you typically would want an appraisal that's about 30% higher than what you paid for it...(PS'rs please correct me if I'm wrong on that general percentage). Anything above that 30% of the value is wasted so you're paying extra premiums for nothing. At least that's the way I read it here.

3) Appraisals do NOT cost $500 (unless you're dealing with say a 6carat diamond)...Did the dealer give you that number? Appraisals typically work on a flat fee or fee per carat basis. You can easily get one for $75-$100 for your 1 carat. If you want additional tests run, it might tip you closer to $200, but methinks the dealer was applying a scare tactic with you to keep you confirming what he said.

It's not about trusting the dealer, but anyone that tries to sells you something then turns around and says "trust me" is the biggest red flag in existence.

Here's one LINK to an appraiser here on Pricescope

4) On insurance...it's not $2 a year...what you might have heard is that it's 2-3 % of the appraised value per year, which is the typical cost of insurance.

So for a $9800 appraisal, look at paying $200 to $300 per year

Next steps that I would take
- get it independently appraised right away, don't even hesitate, just do it and do it today
- based on what you get back, decide if you want to continue with the purchase and seek out an insurance carrier
- consider getting another appraiser or an appraisal that's lower than twice the purchase price.
- hug your husband for taking the bravest step he'll ever take

At the end of the day though, if you're happy with the ring then that's all that matters...but once you start to learn to the specifics of why a particular diamond costs as much as it does, you can confirm what you bought and whether or not you paid the right amount for it.

Best of luck to you and yours...

 

[kohdy]

Date: 3/29/2007 2:29:37 PM
Author: DignDive

So for a $9800 appraisal, look at paying $200 to $300 per year

Congratulations on your engagement!

I agree with everyone here. Everyone here seems to be experts and I could not add a word more. If anything, I want to add that the quote DignDive gave is very accurate. For my ring that is appraised at $24K (and I do have my GIA certificate of course) we pay the insurance a tad above $600 per year. With my insurance policy I can get either a replacement with an equivalent diamond or get a cash reimbursement should anything happen to my ring. If I damamge the diamond in any way, I can also claim a partial loss, and my insurance will pay out the loss.

Well, good luck to you, but it sure sounds like you''ll have to have some serious discussions with your jeweler.

 

[cristaal]

The apprasial came from the jewelry store that it was bought from. Unfortantly, the way that the ring was bought was a little confusing. My fiance is in the coast guard and had to have his mom pick out the diamond he gave the salesperson the specs of the ring he wanted and he did have a particular price range. I know this store is a good jewelry store in our area, and I hope they wouldn''t cheat us-so I think I''ll have a separate apprasier also. Would I just go to another jewelry store to have them appraise it?

I don''t know if my fiance knows it''s not certified-I''ll have to talk to him tonight. I was just surprised because I thought it was certified. I think that for me, a certification is not necissary. I just want the ring to really be the cut clarity and color that it was promised and rang up to be.

I feel right now that if I am not happy with the diamond, I wouldn''t be able to do anything about it. It says on the receipt that the merchandise may be retured for an exchange or store credit only. I love the setting, I guess I just want to know that the diamond is of a good cut and color. Any other advise on this? Thanks again!

 

[Kaleigh]

Take it to an independent appraiser, not to another jewelry store.

You can find one in your area by clicking on the resources button at the top of PS.

 

[neatfreak]

Cristaal,

Ideally, an appraiser SHOULD NOT work at a jewelry store and in fact should not sell jewelry at all. If you tell us your location maybe someone can recommend a good appraiser in your area.

It is a major conflict of interest for your jeweler to make the appraisal. He only has an incentive to make it "more valuable" so you think it was a good deal. Go to someone independent and they will tell you the real deal on your ring. If it is the color/clarity that was promised, you''ll be good to go and there is no need for a cert. But if not, then you will need to return to the original jeweler and duke it out so you guys get what you have paid for!

 

[Moosejaw]

Cristaal,

It is a touchy situation, unless your fiance wants to back you up, or his mother.

Like somebody already mentioned, they had a stone that they certified after being told it was something, and found out it was not even close to being the stats they said.

If I were your fiance, I would demand a full refund, and if I paid with a credit card I would dispute it and have them sort it out. They may say no at first etc, but if they lied, I would go as far as bringing in the police. I typically always get my way when I attempt to return something. I dont return things too often, but I don't like it when people get something different than they expected.

If it isn't certified I don't trust it, no matter what the reputation of the store.

Another route would be...give me the exact same specs as you were quoted, with a GIA cert like he said to your fiance. He should have no problem doing this, since it doesnt matter and just a preference right? The cost should also be the same since the certification doesnt really matter to him.

I say the easiest thing to do would be a full credit back to a credit card, or full return and go elsewhere. It has nothing to do with your fiances taste, or that you didnt like the ring...it has to do with business practices and the bs the owner seems to be spouting about GIA certifications not mattering. If that stone had a GIA cert with the specs you think they are, he could charge a premium for the stone.

Jewelers aren't idiots...so why is he making an idiotic statement about the GIA cert. I could go on and on...

The way I look at it, without the cert you may have paid multiple times its full retail worth.

I just want you to have what your fiance paid for, and intended for you to have.

After all my research, and I thinnk the board backs this up...without the dimensions of the cuts of the stone...you cannot really know the true value.

-G

 

[mrssalvo]

you''ve gotten good advice so I won''t repeat it.

as for the wedding band, does diana make a matching band? that would be my first choice. If not, then probably a thin pave band. I think you should probably go and try on a bunch of differnt styles with your e-ring to see which one you like best..it is very beautiful..

 

[Modified Brilliant]

Date: 3/29/2007 3:48:32 PM
Author: Moosejaw
Cristaal,

It is a touchy situation, unless your fiance wants to back you up, or his mother.

Like somebody already mentioned, they had a stone that they certified after being told it was something, and found out it was not even close to being the stats they said.

If I were your fiance, I would demand a full refund, and if I paid with a credit card I would dispute it and have them sort it out. They may say no at first etc, but if they lied, I would go as far as bringing in the police. I typically always get my way when I attempt to return something. I dont return things too often, but I don''t like it when people get something different than they expected.

If it isn''t certified I don''t trust it, no matter what the reputation of the store.

Another route would be...give me the exact same specs as you were quoted, with a GIA cert like he said to your fiance. He should have no problem doing this, since it doesnt matter and just a preference right? The cost should also be the same since the certification doesnt really matter to him.

I say the easiest thing to do would be a full credit back to a credit card, or full return and go elsewhere. It has nothing to do with your fiances taste, or that you didnt like the ring...it has to do with business practices and the bs the owner seems to be spouting about GIA certifications not mattering. If that stone had a GIA cert with the specs you think they are, he could charge a premium for the stone.

Jewelers aren''t idiots...so why is he making an idiotic statement about the GIA cert. I could go on and on...

The way I look at it, without the cert you may have paid multiple times its full retail worth.

I just want you to have what your fiance paid for, and intended for you to have.

After all my research, and I thinnk the board backs this up...without the dimensions of the cuts of the stone...you cannot really know the true value.

-G

Thanks for the clarification, moosejaw!

www.metrojewelryappraisers.com

 

[cristaal]

Hmmm...I understand about jewelers appraising a piece for more than it''s worth to make someone pay more in insurance and what not...I hope that''s not what they did, but I will definately get it separtely appraised by someone. If someone could recommend an appraiser around Charleston, SC I really would appreciate it.

I guess I''m a bit disappointed that it''s not GIA certified because when we looked at diamonds together he always said he wanted it to be certified, I''m interested to see tonight if he knew it wasn''t certified. I would like my diamond to be certified just for piece of mind, but after the jeweler said it would be around $500 to send it off to be certified, I have a wedding to save up for too...

The most important thing to me is that I have a good quailty diamond, at least the specs that were given to me. Another thing is that I noticed right away through the side of the diamond that I could see some black specks with my naked eye which I guess are flaws. In a S1 diamond, I suppose that is to be expected?

So, although I would hate for my fiance to have been cheated in any way, I guess the first step is a separate apprasial...I hope that I don''t have to go back to the jewelry store and ''duke it out'' I really hate confrontation....ekk....thanks everyone!

 

[SuzyQZ]

Cristaal:

To find appraisers go to the toolbar at the top of the Pricescope page, click on "tools" then "appraisers". It looks like the closest one is in NC. Don''t know how far away that is from you. Will be worth the drive if doable.

I can''t add anything to the good advice you''ve been given here. I think your ring is really lovely and it looks so pretty on you

I hope you do follow through and get your ring evaluated by an independent appraiser if for nothing else than to make sure you got what you paid for.

There is no doubt your ring is beautiful, but diamond prices are definitely correlated to the 4C categories they fall into. It will not diminish the loveliness of your diamond to find out.

If after it''s evaluated you determine that you did overpay and seeing as the jeweler will only give you an exchange or store credit, maybe you can get your matching wedding band there and have them apply the difference towards that. It was just a thought of how he might make some kind of restitution to you. Especially if you decide to keep the diamond because of it''s sentimental value and if you like it, regardless of it''s pedigree.

I don''t think the jeweler was very honest. If your boyfriend thought he was getting a GIA cert and was left with the impression that your diamond had it, well the jeweler is lying by omission. The jeweler should have clarified that fact, seeing that a GIA cert was so important to your boyfriend.

For what its worth (I''m no expert by any means!) I would want a GIA cert and if I could afford it, I would get it.

After your evaluation by an appraiser, if your diamond doesn''t fit the bill of sale of what you purchased, then I''d make the jeweler get a diamond that does. He should stand behind what he said you were being sold and make good on the diamond specs as presented (and purchased) by you.

 

[Moosejaw]

I will add to my statement that jewelers are not idiots...most are not, especially the successful ones. However, it is unbearable when they treat us like idiots, and do not deserve our business.

I would not send in the diamond for an appraisal, since it will cost you $500.00, and it will more than likely come back less than what he said. This is a good reason he didn''t send it in.

I am not trying to create drama, I just hate liars...all the kinds...lying by omission, or telling a halftruth.

The best thing is, your fiance loves you enough to have proposed. Hopefully he will go duke it out, if he is in town.

I am sure he has plenty of stones in stock that are GIA certed, trade one out after you find out what dimensions you were wanting, and the same specs he quoted you. That would be the easiest, providing the owner stops lying.

 

[SuzyQZ]

Moosejaw:

WOW! I had no idea an appraisal would cost $500!! I was under the impression they were in the $100 to $200 range depending on the detail you want. That a basic appraisal was about $100. Boy was I off!

I thought the $500 was for obtaining a GIA cert.

Anyway, you are right, if she has to shell out $500 for an appraisal I would agree not to, just change out the stone with an already GIA certed one.

Date: 3/29/2007 6:25:06 PM
Author: Moosejaw
I will add to my statement that jewelers are not idiots...most are not, especially the successful ones. However, it is unbearable when they treat us like idiots, and do not deserve our business.

I would not send in the diamond for an appraisal, since it will cost you $500.00, and it will more than likely come back less than what he said. This is a good reason he didn''t send it in.

I am not trying to create drama, I just hate liars...all the kinds...lying by omission, or telling a halftruth.

The best thing is, your fiance loves you enough to have proposed. Hopefully he will go duke it out, if he is in town.

I am sure he has plenty of stones in stock that are GIA certed, trade one out after you find out what dimensions you were wanting, and the same specs he quoted you. That would be the easiest, providing the owner stops lying.

 

[neatfreak]

Date: 3/29/2007 6:37:06 PM
Author: SuzyQZ
Moosejaw:


WOW! I had no idea an appraisal would cost $500!! I was under the impression they were in the $100 to $200 range depending on the detail you want. That a basic appraisal was about $100. Boy was I off!


I thought the $500 was for obtaining a GIA cert.


Anyway, you are right, if she has to shell out $500 for an appraisal I would agree not to, just change out the stone with an already GIA certed one.

Date: 3/29/2007 6:25:06 PM

Author: Moosejaw

I will add to my statement that jewelers are not idiots...most are not, especially the successful ones. However, it is unbearable when they treat us like idiots, and do not deserve our business.


I would not send in the diamond for an appraisal, since it will cost you $500.00, and it will more than likely come back less than what he said. This is a good reason he didn't send it in.


I am not trying to create drama, I just hate liars...all the kinds...lying by omission, or telling a halftruth.


The best thing is, your fiance loves you enough to have proposed. Hopefully he will go duke it out, if he is in town.


I am sure he has plenty of stones in stock that are GIA certed, trade one out after you find out what dimensions you were wanting, and the same specs he quoted you. That would be the easiest, providing the owner stops lying.

Appraisals ARE usually $75-200 depending on the detail and/or the size of the diamond. To have mine appraised, which is only a bit smaller in size, it will be around $75.

The $500 price IS for a GIA certification, totally different ballgame there.

A regular old appraisal will do to find out whether the stone was worth the price you paid for it or not.

 

[Moosejaw]

Thanks for clarifying everyone. I think most knew I meant the cert, but was typing fast.

 

[SuzyQZ]

Date: 3/29/2007 6:46:21 PM
Author: neatfreak

Appraisals ARE usually $75-200 depending on the detail and/or the size of the diamond. To have mine appraised, which is only a bit smaller in size, it will be around $75.

The $500 price IS for a GIA certification, totally different ballgame there.

A regular old appraisal will do to find out whether the stone was worth the price you paid for it or not.

Thank you Neatfreak for the clarification. What you presented above is what I thought to be the case as well. I was wondering if prices had gone up? So I was thinking, WOW, am I off base or what?
Thanks.

 

[cristaal]

Ok, so i talked to my finance and asked if he was under the assumption that the diamond was a GIA cert. and he said he assumed that all the Polly''s Jewelers sold were cert. diamonds. Poor thing, he was in a hurry and under such stress about asking my parents and asking me all in a short amount of time he had home. To even get the ring he had to have his mom use her savings to pay for the ring so that I wouldn''t notice the large chunk of money out of his account.

Anyway, I told him the situation about what all of you have opinionated and what the jeweler said. He recommended that I get it appraised and at least find out if the color and clarity was what it was said to be. Overall-I feel that as long as my finance paid a fair price for the diamond that he received I''ll be happy. Maybe in the future I''ll see about getting it certified, but right now, I just want to know that he didn''t overpay for the diamond.

 

[SuzyQZ]

Date: 3/29/2007 8:57:57 PM
Author: cristaal
Ok, so i talked to my finance and asked if he was under the assumption that the diamond was a GIA cert. and he said he assumed that all the Polly''s Jewelers sold were cert. diamonds. Poor thing, he was in a hurry and under such stress about asking my parents and asking me all in a short amount of time he had home. To even get the ring he had to have his mom use her savings to pay for the ring so that I wouldn''t notice the large chunk of money out of his account.

Anyway, I told him the situation about what all of you have opinionated and what the jeweler said. He recommended that I get it appraised and at least find out if the color and clarity was what it was said to be. Overall-I feel that as long as my finance paid a fair price for the diamond that he received I''ll be happy. Maybe in the future I''ll see about getting it certified, but right now, I just want to know that he didn''t overpay for the diamond.

Cristaal:

I agree, get the appraisal and see what the it comes back at.

If you feel you paid a fair price for what you got and you like your ring and diamond, then you are good to go! All is well.

When you evaluate your purchase to your appraisal results, make sure you compare prices to other uncerted diamonds because GIA and AGS certed diamonds are sold for more than uncerted diamonds.

Let us know the results.

Good luck.

 

[kohdy]

Date: 3/29/2007 8:57:57 PM
Author: cristaal
Ok, so i talked to my finance and asked if he was under the assumption that the diamond was a GIA cert. and he said he assumed that all the Polly''s Jewelers sold were cert. diamonds. Poor thing, he was in a hurry and under such stress about asking my parents and asking me all in a short amount of time he had home. To even get the ring he had to have his mom use her savings to pay for the ring so that I wouldn''t notice the large chunk of money out of his account.

Anyway, I told him the situation about what all of you have opinionated and what the jeweler said. He recommended that I get it appraised and at least find out if the color and clarity was what it was said to be. Overall-I feel that as long as my finance paid a fair price for the diamond that he received I''ll be happy. Maybe in the future I''ll see about getting it certified, but right now, I just want to know that he didn''t overpay for the diamond.

You are a wise girl!

I think you have come up with the perfect solution! I was in such a hurry to write a response to your very first posting earlier that I forgot to mention how much I love your ring! The setting is absolutely gorgeous! Just to have a piece of mind, though, you should act on your decision ASAP. Congratulations once again! Tell your fiance that he did a fabulous job with the setting. I love it!

 

[Moosejaw]

Sounds smart...and please let us know.