Price Check + price negotiation!

[JoeHopeful]

Long time viewer - first time poster!

Having studied for weeks on the ins and outs of buying an engagment ring I feel a little safer about not getting ripped off but still wanted to ask if the ring I am thinking of buying is a decent price for the amount being asked.

Carat: 0.65
Cut: Brilliant - VG (altough Jeweller gave me this info)
Colour: G
Clarity: SI1

I know table %, Pavillion angle etc affects price too but don;t have this info.
Anyway, cost for this stone set in a 18ct White gold band with 10 small sidestones either side = £1350
Cost for same ring in Platinum = £1850

Does this seem about right? Also - I really want to go for Platinum - I know it''s much rarer and costlier but £500 over and above that of the white gold seems quite a bit extra.

I''m based in Glasgow - ring was in a Jewellers in Argyle Arcade. What is a realistic price to pay for either ring if I haggle a bit on the ticket price?

Thanks for any help!!!

 

[Lorelei]

Date: 1/19/2009 8:25:07 AM
Author:JoeHopeful
Long time viewer - first time poster!

Having studied for weeks on the ins and outs of buying an engagment ring I feel a little safer about not getting ripped off but still wanted to ask if the ring I am thinking of buying is a decent price for the amount being asked.

Carat: 0.65
Cut: Brilliant - VG (altough Jeweller gave me this info)
Colour: G
Clarity: SI1

I know table %, Pavillion angle etc affects price too but don;t have this info.
Anyway, cost for this stone set in a 18ct White gold band with 10 small sidestones either side = £1350
Cost for same ring in Platinum = £1850

Does this seem about right? Also - I really want to go for Platinum - I know it''s much rarer and costlier but £500 over and above that of the white gold seems quite a bit extra.

I''m based in Glasgow - ring was in a Jewellers in Argyle Arcade. What is a realistic price to pay for either ring if I haggle a bit on the ticket price?

Thanks for any help!!!

Hi Joe and welcome!

Firstly, does the diamond have a grading report and if so, which type ( GIA, AGS, EGL) etc? That can have a major influence on price.

As to the cut quality, without the depth, table and angles we can''t tell if the diamond is well cut or not. The extra on the plat setting does seem to be a lot going by a recent comparison I saw between a WG setting and platinum, are the WG and platinum settings a similar design with just the metal variance?

 

[JoeHopeful]

Thanks for the welcome!

With regards to the variance - the design is exactly the same, just WG Vs Platinum.

I have to admit, this was my first visit to buy a proper piece of jewellery and in my attempt to remember to ask all the vital questions, the one I did not ask was if the diamond came with a grading report. Guess I''ll take a trip back and find out - will also get the angles & measurements of the cut too.

In the meantime, if you are aware of Argyle Arcade (similar to jewellry quarter in B''ham I believe), is there a certain percantage of the price I should expect to bring it down to if I do some crafty negotiating?

Another option I have: I also have a loose similar size/cut diamond which I have been thinking I could get mounted into an engagement ring. The place that does the first ring I spoke of cannot substitute diamonds and only sells the completed ring. However, do you think it might be less expensive to have a ring maker follow a similar design and have my loose diamond mounted to that(ie - if I take the diamond value out of the equation, are rings generally cheaper to have made to spec from an indepenant ringmaker than to buy from a jeweller?)

 

[Lorelei]

Date: 1/19/2009 9:01:40 AM
Author: JoeHopeful
Thanks for the welcome!

With regards to the variance - the design is exactly the same, just WG Vs Platinum.

I have to admit, this was my first visit to buy a proper piece of jewellery and in my attempt to remember to ask all the vital questions, the one I did not ask was if the diamond came with a grading report. Guess I''ll take a trip back and find out - will also get the angles & measurements of the cut too.

In the meantime, if you are aware of Argyle Arcade (similar to jewellry quarter in B''ham I believe), is there a certain percantage of the price I should expect to bring it down to if I do some crafty negotiating?

Another option I have: I also have a loose similar size/cut diamond which I have been thinking I could get mounted into an engagement ring. The place that does the first ring I spoke of cannot substitute diamonds and only sells the completed ring. However, do you think it might be less expensive to have a ring maker follow a similar design and have my loose diamond mounted to that(ie - if I take the diamond value out of the equation, are rings generally cheaper to have made to spec from an indepenant ringmaker than to buy from a jeweller?)

That sounds like a plan to get the info on the other diamond then report back!

You could certainly investigate having your exisiting diamond mounted into a custom made setting, or alternatively find a setting you like, then have the diamond mounted. Shop around and '' interview'' some jewellers to see what can be done, your best bet might be a more traditional type jeweller than the usual jewellery store where the focus is on selling completed rings,

As to haggling, it is hard to say....You could throw a lowball and see what happens, then haggle from there. They will either make it clear that they are not interested or try to come to some arrangement!

 

[JoeHopeful]

Looks like I''ll pop out at lunch today and ask further questions - ie grading report/Cut specs etc.

Can''t find a similar design out there - is it acceptable to take a photo of the ring in the window? Then I can have it as a reference if I go for the custom made option or use it to ask around other jewellers to see if they sell a similar ring that I can add a loose diamond to.

Will get back with more info once I have it.

Thanks for help so far Lorelei!

 

[JoeHopeful]

Managed to call and ask about grading report. Doesn;t come with one. Didn''t get specs of cut but will do when I pop in in person.

Anyway, have my doubts as to how good the cut is... the other specs aren;t great but they''re not bad either (G, SI1, 0.65 etc) so that makes me think the cut can''t be that good. Would anyone agree/disagree?

I managed to call into a ringmaker who is going to take a look at the design and give me a quote for the ring to be made and my loose diamond set.

 

[Lorelei]

Date: 1/20/2009 9:03:53 AM
Author: JoeHopeful
Managed to call and ask about grading report. Doesn;t come with one. Didn't get specs of cut but will do when I pop in in person.

Anyway, have my doubts as to how good the cut is... the other specs aren;t great but they're not bad either (G, SI1, 0.65 etc) so that makes me think the cut can't be that good. Would anyone agree/disagree?

I managed to call into a ringmaker who is going to take a look at the design and give me a quote for the ring to be made and my loose diamond set.

Hi Joe,

Without the depth, table and angles etc we can't tell how well the diamond is cut unfortunately. Also how much is the diamond itself so we can get an idea? Without a grading report the price should be considerably less than diamonds which have GIA reports as an example. Also we have no way of knowing without a report if the G SI1 grading is even accurate....Does your jeweller sell diamonds which have grading reports such as GIA?