Overpaid for the bling?

[diamondgirl11]

Hey everyone,

I'm new to this site, so hello!

My wonderful fiancé and I went to look at rings a few weeks ago, and just this past week, he proposed with a beautiful round solitaire that we had both been admiring.

He picked it up today, and after reviewing the diamond stats, I am concerned that he paid way too much for what we got. The diamond itself is beautiful in its setting, and I feel horrible worrying about price when I should be celebrating our engagement. It's the Type A in me, what can I say?! lol

Below are the diamond stats... PS: We live in Canada, so price is in CAD $

Shape: Round brilliant
Weight: 0.70
Clarity: SI2
Colour grade: H
Measurements: 5.68 x 5.71 x 3.52
Depth %: 61.70
Table %: 58.1
Crown: 35.90
Pavillion Angle degree: 40.80
Star %: 49.00
Lower half: 76.00
Girdle: Slightly thick
Culet: Very small
Polish: Very good
Symmetry: Very good
Cut: Excellent
Graded by GIA
Paid: $ 5,312 + taxes
Est replacement value: $6,122

Thanks so much for your advice

 

[littleweight]

I would use the PS diamond finder iiwy. Using those exact properties and GIA 3x with an excellent HCA rating, most stones seem to be about $2500 canadian. You can post your GIA report and aset image if you want and the more informed members can weigh in.


Is there any return policy?

 

[lxAsTrOxl]

Was that the total price with diamond and setting, or just the diamond?

 

[diamondgirl11]

The return policy is 30-days... we have about 8 days left until it expires.

The diamond ALONE was $5,312 CAD + taxes (approx $4272 USD) and the 19K semi-mount was $810... total spent = $6,856.64 CAD (approx $5515 USD).

I'm upset about this, but not sure how to bring this up without offending him.

 

[lxAsTrOxl]

The return policy is 30-days... we have about 8 days left until it expires.

The diamond ALONE was $5,312 CAD + taxes (approx $4272 USD) and the 19K semi-mount was $810... total spent = $6,856.64 CAD (approx $5515 USD).

I'm upset about this, but not sure how to bring this up without offending him.

Well you definitely could have done better for the price, could have got the same color n clarity diamond but a much better cut, polish, symmetry for less. I would just tell them you have found a better diamond as you are not satisfied with the current diamond. Remember you are the one that is going to wear this for the rest of your life. There is no room for hurt feelings in the jewelry business.

 

[maccers]

Even with the crappy CDN to USD exchange right now, you could still save money AND get a better cut diamond.

If your guy likes saving money, you could just start by saying you love the fact that you picked out the stone together but that you've done more research and think you could save him some money by buying elsewhere. I would just approach that conversation from a practical standpoint. Personally, I would feel guilty knowing I could have saved money but didn't tell my partner about it.

What lab graded your stone? GIA, EGL, AGS etc. never mind, I see it's GIA.

 

[lxAsTrOxl]

Here's one that's much better quality for about half the price without even trying. Definitely utilize the return policy on your current stone.

http://www.whiteflash.com/loose-diamonds/round-cut-loose-diamond-3034530.htm

Heres another if you want to also get the best possible cut and go up a color and clarity grade, still cheaper than what you got now:

http://www.whiteflash.com/loose-diamonds/round-cut-loose-diamond-3259360.htm

 

[maccers]

Here's one that's much better quality for about half the price without even trying. Definitely utilize the return policy on your current stone.

http://www.whiteflash.com/loose-diamonds/round-cut-loose-diamond-3034530.htm

Heres another if you want to also get the best possible cut and go up a color and clarity grade, still cheaper than what you got now:

http://www.whiteflash.com/loose-diamonds/round-cut-loose-diamond-3259360.htm

Those are good choices but with the exchange rate plus federal and provincial taxes, the second one will be more expensive than what they paid.

The CDN to USD exchange totally stinks right now.

 

[lxAsTrOxl]

Here's one that's much better quality for about half the price without even trying. Definitely utilize the return policy on your current stone.

http://www.whiteflash.com/loose-diamonds/round-cut-loose-diamond-3034530.htm

Heres another if you want to also get the best possible cut and go up a color and clarity grade, still cheaper than what you got now:

http://www.whiteflash.com/loose-diamonds/round-cut-loose-diamond-3259360.htm

Those are good choices but with the exchange rate plus federal and provincial taxes, the second one will be more expensive than what they paid.

The CDN to USD exchange totally stinks right now.

Hopefully they have a friend in the states to help them out

 

[Madison2]

diamondgirl,
I would talk to your fiancee and explain to him since he works very hard for his money you do think he can get a better well cut diamond for the same price or maybe slightly more. Although you appreciate the effort he put into it you believe he can get a better cut diamond and if he agrees, return it. Listen everyone makes mistakes and we all learn from mistakes. Take it as a learning experience and now that you have learned much more about what makes the diamond sparkle, you want to make a wiser choice and get a diamond that you will feel good about wearing on your finger. Remember you will be looking at that diamond on your finger everyday so you need to be happy with it.
I would move forward if he agrees and return and start all over.
Good Luck diamondgirl

 

[diamondseeker2006]

I would also talk to him. You could get either a larger stone or one with much better clarity. Blue Nile has a Canadian site. If so, we could help you choose a much better diamond for that kind of money. I would just return the whole ring and start over.

Here is what you can get with $5k Canadian (a signature ideal cut stone with better clarity and worth SO much more!):

http://www.bluenile.com/ca/diamond-details/LD05328602

http://www.bluenile.com/ca/diamond-details/LD05188507

http://www.bluenile.com/ca/diamond-details/LD04261949

 

[diamondgirl11]

Thank you all for your replies! You're all very informative, and I appreciate it. The bottom line is I want to make sure he gets the best bang for his buck... and that's for anything in life! Had I not seen the receipt with the certificate, I would have been none the wiser. But to find out he paid almost $2000 MORE (for diamond and for budget), THAT makes me more angry than anything else. And it's not entirely his fault as we both went to look at this ring together.

I have known about Blue Nile for a long time, but am leery about purchasing online without seeing it first. Can anything with experience speak to the quality and service they provide?

Thanks again

 

[16ocean]

I think with the guidance from some of the members on this forum they will help you find something awesome.

 

[motownmama]

Did you speak to him??? Tick.....tock......

 

[diamondgirl11]

Did you speak to him??? Tick.....tock......

Not yet! He's at work, so I'm at home doing my homework I'll keep you posted!

 

[diamondseeker2006]

Thank you all for your replies! You're all very informative, and I appreciate it. The bottom line is I want to make sure he gets the best bang for his buck... and that's for anything in life! Had I not seen the receipt with the certificate, I would have been none the wiser. But to find out he paid almost $2000 MORE (for diamond and for budget), THAT makes me more angry than anything else. And it's not entirely his fault as we both went to look at this ring together.

I have known about Blue Nile for a long time, but am leery about purchasing online without seeing it first. Can anything with experience speak to the quality and service they provide?

Thanks again

The only stones I would consider buying from Blue Nile are their Signature Ideals which are what I posted above. These have a GCAL report which does show images of the stone, mostly helpful in regard to light return. BN is a long established vendor. I usually prefer other US vendors for my own purchases, but if I were in your shoes, I 100% would be buying one of the BN Signature stones because these are simply better quality overall than the one you now have.

 

[pfunk]

I'll provide another route you could go. I agree you could get a better stone for that money, but you did describe yours as beautiful. So, if you have seen it in different lighting and indeed do love it, you could go to the jeweler and explain the prices you are seeing elsewhere and see if he will refund some of your cost. If not, you can always seek the return and get a new stone.

 

[kmarla]

Canadian here and I Just want to clarify that the second Whiteflash stone with conversion costs $4169.00 CDN dollars, so still almost $1200.00 CAD less than what OP paid for her diamond(before taxes) and this is an ACA diamond. OP, I have an ACA RB from Whiteflash and absolutely love it. I've also ordered several items from Blue Nile.ca (happy customer!) including a diamond, and although the banking/financing is a Vancouver address, the items are always shipped from Washington State. I don't think they have an actual warehouse in Canada. You won't pay duty on any diamond at all, but just know that sometimes there is duty on the settings or other jewelry depending on where they are manufactured. This will show up clearly on the cost of the item on the Bluenile.ca website before ordering so you won't be surprised. I wish you the best and hope you end up with a beautiful diamond at a price that you're more comfortable with!

 

[crr243]

I'm from Calgary and purchased my fiance's ring through Brian Gavin. I was very nervous at first, but now I'd have no hesitations in purchasing through them or Whiteflash in the future. You'll be charged taxes on delivery, but should see no duties as they're assembled in the USA (i.e. NAFTA).

I had the ring appraised by an expert in Calgary. His appraisal 100% confirmed all of the specifications of the diamonds (cut, clarity, color, carts), was for about 30% more than I paid (seems normal to appraise higher than its value), and his verbal estimate of what I actually paid was only about 10% higher. With BGD I knew what I was getting in terms of light performance and diamond quality, and their pricing was spot on and way cheaper than I could have gotten locally.

Even with the exchange rate the way it is, we're purchasing her wedding band through Brian as well. Locally, the estimates we received were around $3,800 for a custom 0.4 ctw 5-stone, VS2, H-I, ideal cut, with a platinum setting. Through Brian, the price after all fees and conversions rang in at $3,850 Canadian for 0.45 ctw, VS1-VS2, D-G, ideal cut, and platinum. Slightly bigger, slightly whiter, and from the same manufacturer as the original ring for pretty much the same price.

Again, no hesitation with purchasing through these retailers.

 

[diamondgirl11]

Well, here's my update: I spoke with my fiancé last night, and after a brief discussion, it was agreed that we would return the original ring. He was understandably upset at first, but after I told him how much he overpaid ($7588 per carat!!!), he got it.

We sat down with a BN Rep and together chose a beautiful diamond we are both thrilled with: http://www.bluenile.com/ca/build-your-own-ring/diamond-details/LD05324265

Thanks again for all your input and ideas! We're excited for this next chapter!