kind of screwed over, stuck with local jeweler, best options?

[rr221]

Hello all, so here''s the problem. I thought I was putting a 500 deposit to place a hold on a diamond at a local jeweler. Apparently, I was actually making a non-refundable deposit for this $2200 diamond (EGL certified :-/)

Cristal Type: Type IaAB
Shape and Cut: Round Brilliant
Carat weight: 0.72 Ct.
Color Grade: G
Clarity Grade: SI1

ADDITIONAL GRADING INFORMATION
Measurements: 5.81 - 5.77 x 3.48
Polish: Excellent
Symmetry: Excellent
Fluorescence: None
Total Depth: 60.1 %
Table Width: 58 %
Crown Height: 14 %
Pavillon Depth: 43 %
Girdle Thickness: Medium, Faceted

COMMENTS
- ''DiaScript'' appears on the girdle.
- 8 HEARTS & 8 ARROWS - This Diamond was polished
utilizing superior precision & craftmanship, its
exquisite proportions generate the appearance of
8 Hearts & 8 Arrows, when viewed at the correct
angle & under the proper lighting conditions.
- ''Excellent Ideal Cut''.

With enough arguing with the brick and mortar place I can''t get my money back but I can possible get another diamond or maybe save the money with them to maybe put towards a different diamond or future wedding bands.

I had been hoping to reduce my budget and pick up a ACA .5 carat H/VS2 from whiteflash for about 1600, and get the 500 refund from the local jeweler. Now however I''m stuck with the local place. When I walk into the local place, whats my best plan for getting as good as deal as possible? Go for the highest carat eye-clean gia/agsl certified stone I can buy?

I''m a little sour on the situation, so I appreciate any help that I can get.

 

[beezygal]

That sucks you can''t get your $500 deposit back. Did they tell you the deposit is unrefundable when you pay? I would be so frustrated.

That is kinda weird.

Since you''re stuck with the store.. I say go for the BEST cut and eye clean AGS/GIA diamond.

Good Luck!!!

 

[marcy]

That is pretty rotten you can't get your money back. Do you not like the diamond you picked out? Can you use the $500 towards a wedding band without having to pay more money? Good luck.

ETA: Does you receipt indicate the deposit is non-refundable? You could complain to the BBB and try to get it back.

 

[swingirl]

Can you use the $500 on something else in the store?

But this stone gets a fine score on the Holloway Cut Adviser (ex-ex-ex-ex). What don't you like about it?

 

[rr221]

Ordered responses..

I had looked at two diamonds, one was refundable and I thought looking at this second one. It was a "special" deal that they couldn''t send it in unless I actually wanted to but it. I''m a little hazy on it all, but I think they''re in the right side on this.

It sounds like I could maybe use the 500 for wedding bands, but that could be years away and I need to make the most of the money now.

The main concern is that I felt like I had got caught up spending too much money. I did like the sound of the diamond, but that was before I heard EGL ratings were a little bit lenient. I''m hoping now when I get there that it''s at least eye-clean and H color. It is making me feel better that the HCA score is OK. I''d just like to know I''m getting a good lab to grade it that way too.

 

[legallyspoiled]

I don''t want you to feel limited to buying your ering from them just because you have a $500 credit from there. Look around and see if you see anything in the store that you LOVE. Don''t just settle for something that you would be happy with. If you don''t LOVE anything in the store, walk out and start searching for something that you do love. It sucks that you will be out of pocket for $500. However, you will eventually have to get wedding bands which is money that you would have to eventually spend anyway. Good luck!

 

[Rose_Dust]

Couldn''t you find someone who was going to purchase there anyway and use the 500 toward their purchase and have them pay you 500? This might work if you live in a small town, not a chain B&M. Just another way to look at it.

 

[spicytuna]

Date: 4/8/2010 11:05:26 AM
Author: Rose_Dust
Couldn''t you find someone who was going to purchase there anyway and use the 500 toward their purchase and have them pay you 500? This might work if you live in a small town, not a chain B&M. Just another way to look at it.

I see this a lot on local Craig''s lists ads. People sell their credits for less...for example:

You could try to sell your $500 credit for $300 or $400. That way you would only be out 1-2 hundred dollars versus $500.

 

[iota15]

Why don't you buy the stone from WF, which is upgradeable and cheaper. I don't know what kind of setting you're looking at, but maybe put the $500 towards the setting.

If you go this route, I'd suggest telling them it was a family/inherited/gift stone.

 

[rr221]

Ok, so there seems to be a bit of confusion in this thread. I have already given the store 500 dollars and I cannot get it back. Had it been 1 or 200 I may have still been better off walking away from the money and buying online, but at this point, I'm stuck into spending it there.

In any case I went to the store today to investigate their GIA/AGSL excellent/ideal options.

For 2100, before tax, I can get this EGL rated diamond with the stores lifetime warranty for cleaning/repairs:

Cristal Type: Type IaAB
Shape and Cut: Round Brilliant
Carat weight: 0.72 Ct.
Color Grade: G
Clarity Grade: SI1

ADDITIONAL GRADING INFORMATION
Measurements: 5.81 - 5.77 x 3.48
Polish: Excellent
Symmetry: Excellent
Fluorescence: None
Total Depth: 60.1 %
Table Width: 58 %
Crown Height: 14 %
Pavillon Depth: 43 %
Girdle Thickness: Medium, Faceted

COMMENTS
- 'DiaScript' appears on the girdle.
- 8 HEARTS & 8 ARROWS - This Diamond was polished
utilizing superior precision & craftmanship, its
exquisite proportions generate the appearance of
8 Hearts & 8 Arrows, when viewed at the correct
angle & under the proper lighting conditions.
- 'Excellent Ideal Cut'.

or, for the same price I can get a GIA H/VS2 0.55 for the same price (with the warranty as well).

Now, I saw the EGL diamond and honestly couldn't see any flaws in clarity/color, even through the loupe. It didn't seem to be super shiny in natural light, but it seemed like a good diamond. Is it worth the 0.17 carat difference to go with a GIA certified smaller diamond at this point?

 

[Sizzle]

Well how much you were planning to spend on the mount? $500 could easily be used up there and a GIA certed stone purchased online for less than what you will end up paying there. I don''t think there''s confusion, people are just trying to present your options.

 

[legallyspoiled]

I think the point we were trying to make is that you shouldn''t feel like you ABSOLUTELY ARE STUCKbuying a stone from there. Purchased the settings and possibly a wedding band and buy a stone online. Are they telling you that you MUST apply the $500 towards another stone? If so, I would bargain with them.

 

[rr221]

Ok, sorry, I do see your point. Let me clarify further. I put down the 500 deposit on a non-refundable purchase (b/c it was an outside order), and if I wish to do any further business with the store, it will be me spending the full amount that I put the deposit towards. Somehow they have some flex room with what I buy and when, but I must spend ~2200 total at the store.

I do have the choice of just walking away from the store entirely, in which case I lose 500 outright. I suppose I could do this, but a budget of 1600 online now becomes a budget of 1100. I''ve come to terms with the fact that I made this verbal agreement and will just now buy a ring that I don''t plan on upgrading anytime soon. So it''s not the best plan, but these two options appear to be my main options.

 

[denverappraiser]

It’s not the lab that makes a beautiful diamond beautiful. You’re correct that the reputation of EGL is to be a bit lax on color and clarity when compared to GIA and that they use terms like ‘excellent ideal cut’ and ‘hearts and arrows’ rather freely but, as they say, the proof is in the pudding. You’ve seen it and you love it. That goes a long way. That's the point after all.

My recommendation is that you talk with the jeweler about your concerns over the EGL grading and whether you’re getting good value for your money. Hear what they have to say. If you decide that this isn’t the right stone for you, the above suggestions of spending the $500 against something else in the store seems entirely reasonable. Again, honesty is a remarkably effective strategy; discuss with them what you are worried about it and what you are considering as alternatives.

$500 for a mounting and the assembly labor to put a diamond into it is not a huge budget beyond the simplest of mountings so I wouldn’t really describe your situation as ‘stuck’ with this diamond but more that you’re committed to spending at least $500 with that jeweler. Presumably you chose them because you like them and wanted to do business with them so this isn’t such a tragedy.

Edited to add: Your post just slipped in ahead of me while I was composing the above. Apparently that's not a choice. So the store is saying you're committed to spend $2200, not $500? What does the receipt say on it? Did you sign some sort of layaway agreement?

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

 

[Dreamer_D]

That sounds shady that you now have to spend $2200 or lose the deposit

I would fight it.

 

[rr221]

The receipt says 2200. Normally they require a 50% deposit (they were OK with me putting 25%) to do this 'special' order, and when I pay the rest I get the exact diamond in the setting. I had put money down on an earlier diamond that wasn't a special order, and thought it was the same deal when I transferred that money (plus a little bit more) for the deposit one I'm considering now.

The reason they are telling me it's a special order was because they had to commit to buying the stone from their dealer, where they normally would just hold onto it while a customer was considering it. I guess with the discussions we had, I could only look at the stone if I purchased it. At the time I thought it was still a temporary thing.

You are right that its not a terrible situation, I do think the place is priced less outrageously than most that I saw, and I did manage to negotiated down the initial price by a good bit. I may not be getting the best deal, but I'm not in bad shape. Just a little mad at myself/the situation/the store for verbally committing to a decision to spend more money than I later wanted to.

I tried fighting it at least up to the level of store manager, but it clearly states on the receipt that it was a 'special order' and in text at the bottom that special orders are not refundable. I don't have the energy or time to really fight any further, especially since the situation is not that bad.

 

[Dreamer_D]

Date: 4/8/2010 3:46:59 PM
Author: rr221
The receipt says 2200. Normally they require a 50% deposit (they were OK with me putting 25%) to do this ''special'' order, and when I pay the rest I get the exact diamond in the setting. I had put money down on an earlier diamond that wasn''t a special order, and thought it was the same deal when I transferred that money (plus a little bit more) for the deposit one I''m considering now.

The reason they are telling me it''s a special order was because they had to commit to buying the stone from their dealer, where they normally would just hold onto it while a customer was considering it. I guess with the discussions we had, I could only look at the stone if I purchased it. At the time I thought it was still a temporary thing.

You are right that its not a terrible situation, I do think the place is priced less outrageously than most that I saw, and I did manage to negotiated down the initial price by a good bit. I may not be getting the best deal, but I''m not in bad shape. Just a little mad at myself/the situation/the store for verbally committing to a decision to spend more money than I later wanted to.

I tried fighting it at least up to the level of store manager, but it clearly states on the receipt that it was a ''special order'' and in text at the bottom that special orders are not refundable. I don''t have the energy or time to really fight any further, especially since the situation is not that bad.

Seems like their policies were clear then.

Not to try and make you feel bad, but for educational purposes for anyone else who is reading, you should not make a deposit in a diamond that in non refundable. It locks you into a situation where you will need to buy from a particular vendor, and whithout seeing the diamodn they are offering you, a financial commitlent should not be made. Nor should it need to be made.

Onwards and upwards. I think you should look at what you can get from them for $2200, and compare it to what you can get from james Allen for $1700. I suggest JA because they are a great place to get good deals if you can search their site well. If you can get a better or even comparable stone from JA for the lesser amount, then I would walk away from the B&M, lose the $500, and buy the ring from JA for $1700. Out of pocket it is the same, but out of principle I would not want to give the B&M more money, and also the diamond from JA will have a 30 day money back guarantee and also upgrade policy attached. They also sell very reasonably priced settings.

So I would not look at losing the 500 but rather what will my sum total out of pocket cost be compared to the value of the goods I will receive. It still may be in your financial interests to walk away from the B&M.

Here are some to consider at JA that would make your out of pocket expense less, even with the $500 loss to the B&M.

http://www.jamesallen.com/diamonds/H-SI1-Ideal-Cut-Round-Diamond-1289528.asp
http://www.jamesallen.com/diamonds/H-SI1-Ideal-Cut-Round-Diamond-1294291.asp You would need to request more information about this one.
http://www.jamesallen.com/diamonds/G-VS2-Ideal-Cut-Round-Diamond-1279716.asp G color!

 

[D&T]

can you get something in the store worth the $500 that could be easily resold? find the best item that has a good return on value and cut your losses by selling it privately "new" like a pendant or ring or something. At least you won't be out completely the $500 if you found something that can be resold for slightly less, then move onto a different vendor.

 

[missydebby]

dreamer, that is just a great post.

 

[rr221]

I agree with you 100% dreamer, and I wish I knew that I would even possibly be financially committing myself. It could have been significantly worse of a situation, and hopefully those reading can avoid it themselves.

I also agree that I should just think of the 500 as a sunk cost, but the total price they''ve given me (2100 plus tax = 2236) also includes the setting and a warranty. It just doesn''t seem like I can get a diamond + setting for less than 1750 that is much better than the option above. Maybe I''m just defeated and wrong though, it''s certainly been known to happen lately.

Also, to D&T, I cannot simply buy something for 500 at the store. In their eyes I''ve made a 2200 purchase, and they are willing to let me spend it on anything in the store. I either buy something for 2200 there, or I get nothing and lose 500.

 

[Dreamer_D]

Date: 4/8/2010 5:50:13 PM
Author: rr221
I agree with you 100% dreamer, and I wish I knew that I would even possibly be financially committing myself. It could have been significantly worse of a situation, and hopefully those reading can avoid it themselves.

I also agree that I should just think of the 500 as a sunk cost, but the total price they''ve given me (2100 plus tax = 2236) also includes the setting and a warranty. It just doesn''t seem like I can get a diamond + setting for less than 1750 that is much better than the option above. Maybe I''m just defeated and wrong though, it''s certainly been known to happen lately.

Also, to D&T, I cannot simply buy something for 500 at the store. In their eyes I''ve made a 2200 purchase, and they are willing to let me spend it on anything in the store. I either buy something for 2200 there, or I get nothing and lose 500.

Do you think there is any point in the future when you or you gf will want to upgrade the diamond? Not saying you should or should not, but think about it.

What type of setting is it? A simple solitaire can cost as little as $250.

Just trying to help you to figure out the best value.

 

[Dreamer_D]

Date: 4/8/2010 4:50:10 PM
Author: missydebby
dreamer, that is just a great post.

Thanks!

 

[rr221]

Date: 4/8/2010 6:57:56 PM
Author: dreamer_d

Date: 4/8/2010 5:50:13 PM
Author: rr221
I agree with you 100% dreamer, and I wish I knew that I would even possibly be financially committing myself. It could have been significantly worse of a situation, and hopefully those reading can avoid it themselves.

I also agree that I should just think of the 500 as a sunk cost, but the total price they''ve given me (2100 plus tax = 2236) also includes the setting and a warranty. It just doesn''t seem like I can get a diamond + setting for less than 1750 that is much better than the option above. Maybe I''m just defeated and wrong though, it''s certainly been known to happen lately.

Also, to D&T, I cannot simply buy something for 500 at the store. In their eyes I''ve made a 2200 purchase, and they are willing to let me spend it on anything in the store. I either buy something for 2200 there, or I get nothing and lose 500.

Do you think there is any point in the future when you or you gf will want to upgrade the diamond? Not saying you should or should not, but think about it.

What type of setting is it? A simple solitaire can cost as little as $250.

Just trying to help you to figure out the best value.

After this ordeal, I sure hope I never have to worry about finding another ring as an upgrade. I''d like to think that there''s very little chance she''ll want to upgrade (if she finds out enough about this ring, she may even be concerned about me paying too much as is). But it is possible. The local jeweler does have an upgrade policy for at least twice the price or twice the size, so I have that option if I eventually want to buy a 4k+ ring down the road. Just continuing to rationalize the purchase..the ring looks nice...am I really that worse off?

 

[Dreamer_D]

Date: 4/8/2010 7:13:55 PM
Author: rr221

After this ordeal, I sure hope I never have to worry about finding another ring as an upgrade. I''d like to think that there''s very little chance she''ll want to upgrade (if she finds out enough about this ring, she may even be concerned about me paying too much as is). But it is possible. The local jeweler does have an upgrade policy for at least twice the price or twice the size, so I have that option if I eventually want to buy a 4k+ ring down the road. Just continuing to rationalize the purchase..the ring looks nice...am I really that worse off?

With what, with the EGL stone you posted first? The angles are complimentary.

Diamonds with those specs and an EGL cert cost between $1280 and $1680 from PS vendors. So you are paying more, depending on the type of setting it may be a little more or a lot more.

It could be an I SI2 but the standards of GIA, in which case you are perhaps paying too much as well.

But in the end you have seen the diamond and know your options. It is up to you!