need help on princess cut diamond value

[michelle]

I just got a princess cut diamond engagement ring that has a I for color, SI3 in clarity and is a 1.00 carat. The stone measurements are 5.3 X 5.2 X 3.9 which is mounted in a 4-prong white gold crown on a 2mm tiffany style band. I was wondering if any diamond experts could tell me what this ring is worth. We paid $3500 but the estimated retail value on the appraisal from the jewelers is $7,499. Is this a good deal or not? Are there any obvious problems with this?
thanks.
any opinions welcomed.

 

[pricescope]

Hi Michelle,

Does the diamond have a grading report? Similar EGL graded diamonds cost not more than $2,200 in the Internet (try to search from the front page of Pricescope.com for the same shape-carat-color-clarity).

14k gold tiffany setting costs not more than $80-$100, 18k gold - not more than $200.

If your diamond clarity is for instance I1 instead of SI3, its price would be about $1,600!

So it looks like you overpaid quite a bit.

As for appraisal, it is obviously over inflated = incorrect.