Need Help! Starting to Panic!

[Trojan99]

I need some serious help! I’ve been trying to buy an engagement ring for the past month and I’ve reached information overload. Being a guy, I have done all the research on diamonds and online dealers and I’m not sure if I’m that close to purchasing a diamond (with 2 weeks till I propose).

I’m going to throw out my criteria here and see what responses I get. Based on what I’ve read I have narrowed my search to the following:

Shape: Round
Caret: 1.8 – 1.99
Color: H
Cut: Very Good
Clarity: SI1
Budget: $13,500

Table: 55 – 57%
Depth: 60.1 – 61.9%

I set the criteria above based on discussion with several people that size is measurable and by girl friend would never care about a perfect diamond.

I have the following questions:

1. Who is a reputable dealer? So far what I’ve read Union Diamond appears to have descent prices and benefits.
2. What would be a good price for the diamond above?
3. Do I need to get an appraiser and is there a recommended one in the Los Angeles Area?
4. Can you really tell the difference between 1.8 and 2 carets?

Here are two diamonds that I was thinking about:

http://www.uniondiamond.com/diamonds/diamonds.php?item_id=AB305444&search_type_id=2&action_type_id=2&network_id=0cf05810a0f83094f6e9972ef21cdd34

http://www.idjewelryonline.com/diamond_details1.php?id=22296783%20%20%20%20%20%20%20&shape=B&pricefrom=12000&priceto=15000&caratfrom=1.8&caratto=2&colorfrom=H&colorto=I&clarfrom=SI1&clarto=SI2&polish=ANY&cert=Any&symmetry=ANY&depthfrom=60&depthto=62&tablefrom=55&tableto=57&cut=Array&item_id=


Thanks to everyone that has contributed to this site for all the help.

 

[JenniJ]

Hello --

Well, I''m new here too, but I can recommend at least a couple things that helped me...

1. Check all diamonds you seriously consider on the Holloway Cut Adviser https://www.pricescope.com/cutadviser.asp

These both look like they fall in the excellent category, so that''s good. There was one diamond I almost bought that I then ran through the HCA and it only came out to "good," even though it was excellent cut.

2. Also request Idealscope images, and any other info you can get.

3. Finally, something I did regarding your 4th question: I actually drew out on paper the dimensions of the diamonds when comparing two sizes (only 1 and 1.2 for me though!) It helped me to see the difference.

Good luck!

 

[CharmyPoo]

1. Who is a reputable dealer? So far what I’ve read Union Diamond appears to have descent prices and benefits.
I have never worked with Union Diamond but one of my friends purchased from them without any issues. I have worked with GOG and ERD - will recommend both of them. They have great policies. Wink and BGD also have wonderful reputations here.

4. Can you really tell the difference between 1.8 and 2 carats?
It all depends on how it is cut. A 1.8 ct can look bigger than a 2 ct if the 1.8 is cut shallow. In my opinion, if both diamonds were cut to the same standards - I don''t think the difference is huge but I am not very size sensitive (just color and clarity).

 

[stone-cold11]

I believe both UD and IDJewelry can supply Idealscope image. The IDjewelry stone looks good from the numbers. Not sure about the UD stone as I can get it to load at this moment. Also check to make sure the stone is eye-clean with the respective vendor.

 

[Lorelei]

http://www.uniondiamond.com/diamonds/diamonds.php?item_id=AB305444&search_type_id=2&action_type_id=2&network_id=0cf05810a0f83094f6e9972ef21cdd34

This one has potential, I would ask for an Idealscope image and also ask them to check that the grade setting cloud isn''t impacting brilliance and is eyeclean.

 

[Darthkim]

For Appraisals in LA, try out Patrick Davis http://www.jewelryappraiser.net/. He was very professional, answered all of my Pricescope learned questions. Call to setup an appointment.

I would recommend an appraisal, just so you have independent verification that the jeweler did indeed sell you what you agreed to buy.

I live in OC and purchased the ering and wedding band from GOG www.goodoldgold.com. Jamesallan and Whiteflash also have a solid reputation on PS.

Lastly, check out some ideal cut stones. I know you are working with a budget, but I sacrificed carat weight for cut and have yet to regret that decision. Just a friendly suggestion.

Good luck

 

[Trojan99]

Thanks to everyone for all the help. I live with my girlfriend, so it has been hard to get away and respond. Here is an update with what I’m doing based on your advice:

1. Thanks to Darthkim (love the name, I should have thought of that one), I am contacting a local appraiser
2. I’ve asked Union Diamond and ID for Idealscope images and if they are eye clean.
3. In addition, I sent my criteria to GOG, ERG, Jared Allen, Adiamor and to get some pricing ideas.

The hardest part for me is trying to figure out what is a reasonable price. I don’t need to find a fantastic deal, but I don’t want to get ripped off. The only way I can figure I can do this is ask as many dealers to price a similar diamond. Is this the best way for an average person to understand the market price? I’ve use the PS price matrix but it is very broad.

 

[Darthkim]

(Not in the industry or a professional...by any stretch).

Here is how i learned prices are (roughly) calculated.

A common way is using the rappaport report (industry rag), which says (color + clarity + carat range) = X per carat. Remember that carat is a unit of mass, though it is often referred to as size.

So let''s say for an H color, SI1 that is around 1 carat should be 10,000 per carat. (purely just an imaginary figure)

Easy calculation, right? So the price should be around 10K.

However, all stores, even internet stores, have overhead, right? I can''t remember where I read this, but they said for online stores, it should be around 1.3x the price of diamond. Brick and Mortar stores should be from 1.5x to 1.9x.

So using these numbers, that H color, SI1 1 carat stone should be around 13K at a Online vendor, 15k to 19k at a brick & mortar vendor.

Now, this obviously begs the question, "If I knew that figure beforehand, I can calculate what I should be paying and then see if they are ripping me off!"

See, that logic in that statement is flawed, because it doesn''t include the Cut quality of the diamond. Obviously the better the cut, the more expensive the diamond. I''m not sure how they calculate the premium for that, but obviously and an AGS 000 or GIA EX EX EX cut H color, SI1 is worth more than a VG or Good cut.

Secondly, the reason I value many of the online vendors is the sheer amount of information they provide for a consumer to make an educated guess. Not only do they give you the normal 4 C (carat, color, clarity, cut), some give you the idealscope images, Heart and arrow pics, brillianscope reports, sarin reports, etc. This all helps you in making the best decision possible.

Lastly, I took a quick look on pricescope and it seems that for your specs, it tops out at around 17K. 13.5k seems reasonable. Pic a couple that have EX in the cut column and enter their numbers in the calculator to see how they do.

Keep coming with more questions. Lots of very very smart people here who love to help out.
Good luck!

 

[Trojan99]

Thanks darth, your advice helped a lot. I''m actually working with several dealers right now on pricing. how was your diamond buying experience?

 

[Darthkim]

nervewracking, to say the least.
At the beginning, I was overwhelmed by the sheer math of it all. Angles, percentages, cuts, colors, branded stones, etc.
I went to Tiffany's and Cartier at South Coast plaza to look at ring and was both fascinated and horrified by the price. This led me to look online.

Pricescope, with all of helpful members, really brought me up to speed. Spent alot of time reading at night to get comfortable with all the info.

Eventually settled on GOG in NY (no tax!). Having such a stellar reputation and providing the most information online, I felt comfortable and was able to narrow it down to a couple diamonds. I did all of my communications over email, with maybe one phonecall near the end. I ended up being in NY for business and was able to checkout all the diamonds in person.

After the order, waiting was the hardest part. The setting took 3 weeks to make, but it was well worth it. They were very patient with me, provided me with lots of information and pictures.

Overall, I was very happy with the experience. I would definitely recommend this to savvy shoppers, but it's not for everyone. Tiffany's, Cartier's, and Ben Bridges have all their place.

Good luck with your search! If your curious about my ring, just do a search for my SN and it should pop up.