need a bit of advice for my first diamond

[butterfly10]

hi all...i''m looking to buy a diamond from my friends stepdad who is a jeweler. the diamond in question that i like is .89, G/F, SI2 . It is not certified and i would like to have it certified. The price quoted for this stone is $1750 around there . I can see the inclusions on the side , from the top of the diamond if i bring close to my eye i can see an inclusion that looks almost like a scratch on the table of the diamond. However at first glance i didnt even notice anything , except how much sparkle it had to it.

from the information i have provided, can anyone tell me if this would be a good buy for me? Also i was looking to certify the diamond with EGL USA in LA , i hear they are not as good as GIA but to be honest i dont plan to resell the stone, but would like to know exactly what im buying and if my money is being spent well. Also for insurance purposes, i would like the stone and its setting to hold the best value for when i get an appraisal.

any thoughts?

 

[kenny]

Don''t buy it.
Family/friend sales are usually a disaster.

But a stone with a GIA or AGS report.

 

[newenglandgemlab]

Sounds sketchy. Ask the jeweler to have a report done (preferably GIA) and offer to pay for it...then there is no question of what you are buying and the value involved. It is not that expensive. That should give you good cut information to help you decide as well. Cindy

 

[yssie]

Date: 1/6/2010 4:11:32 PM
Author: kenny
Don''t buy it.
Family/friend sales are usually a disaster.

But a stone with a GIA or AGS report.

+1.

A GIA good cut G SI2 retails for a thousand more than you''ve been quoted, minimum. A GIA excellent cut G SI2 retails for 1500 more.

Either he''s giving you the deal of the century and taking a loss himself because you''re his stepson''s friend... or he''s inflated the stats.


Buy a precertified stone - that way you don''t need to deal with that hassle, and you have some idea of cut, which is what makes the stone sparkle - know what you''re getting into before buying.

I''d also say buy from an independent vendor so that relations with your friend aren''t strained if things go awry.

 

[butterfly10]

hi there , thank you for reply

i did ask to see even more diamonds and he said he would get me ones that already are certified so i can compare. we''re on a budget and the diamond i see looks very nice and its just about within our budget.

what is it exactly about family/friend sales that i should be looking out for?

 

[butterfly10]

my friend said to me that he wasnt sure if stepdad was even making much money off this. giving us a great deal as he''s making the setting as well.

how much am i looking at to certify this particular stone through GIA/?

 

[yssie]

Date: 1/6/2010 4:20:30 PM
Author: butterfly10
hi there , thank you for reply

i did ask to see even more diamonds and he said he would get me ones that already are certified so i can compare. we're on a budget and the diamond i see looks very nice and its just about within our budget.

what is it exactly about family/friend sales that i should be looking out for?

Definitely compare to some well-cut GIA stones of the same colour and clarity. It's not impossible to find a beautiful uncerted stone, just very unlikely since the jeweller has a lot more to gain by shelling out the hundred or so for a cert for an excellent stone.


The problems with these types of sales are that
1) The buyer feels somewhat obligated to purchase from this vendor because of their existing relationship, even if the selection or price range isn't the best
2) The seller knows this, and can take advantage of the buyer's increased trust (you very likely trust someone you've met, or heard of personally, more than you would some internet vendor halfway across the country)
3) If things go badly with the sale and you come forward, you have to deal with problems in your personal relationships - if things go badly with said internet vendor halfway across the country you get your money back and move on with life as normal.
4) If you're not happy with the product, you might feel somewhat obligated to keep it anyway to keep relations smooth.

Again, not all family/friend sales have these problems, but enough do that it's worth keeping in mind.

As to "whether or not he's even making a profit" - you can bet he is. How many other friends does your friend have? How many friends does his dad have himself? How about mum? If he was giving all these people great deals without making profits he couldn't stay in business - that's just life. Or maybe I'm just too much of a cynic

 

[Jim Summa]

I wouldn''t immediately think it''s a bad deal, but it does seem cheap. Beyond color and clarity there is the matter of cut quality which is most important, since that’s the ‘sparkle.’ Honestly, if you like the look of the diamond a qualified independent appraiser (one not associated with your friend or with selling of any kind) may be faster, less expensive and more thorough than sending to a lab. And if you are to send it to a lab I’d encourage AGS or GIA.

 

[butterfly10]

thanks for the responses

do i take the loose stone to get it appraised or do i wait until it is mounted on the setting, and take the set of rings to get appraised? Also, should i take the uncertified route, will the appraisal be less ?

 

[Jim Summa]

I would take the loose stone, you can see it better and it would be easier on the jeweler if you decide not to buy it. Ask the appraiser if it would be ok - if you do buy the stone - for them to also include a final insurance appraisal on your new ring. As with jewelers or labs (or anything really) be sure to choose a reputable appraiser.