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Purchasing - what about online, ESP, insurance, financing

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sas22

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I am getting ready / kind of did purchase a diamond engagement ring from Kay Jewelers. What I like about the ring is it has a 3/4 kt center stone, and than a few sparkly stones on the side, totalling a 1/2 kt. My questions are:

1) So plenty of people on this board say buy online. If I buy online, what is this style of ring called, since it isn''t a solitaire, if I''m looking for it online. Where online should I look? I have attached a picture.

2) Kay has a lifetime diamond warranty provided we get it inspected every 6 months. What about the extended service plan? Is it worth it? Every Christmas, tons of articles come out about NOT buying these plans (except laptops), and that Circuit City and Best Buy make a ton on them. What about rings?

3) Insurance - Kay sells an insurance if I use their financing. I don''t think it covers loss though, if I read the fine print. Would going with Jeweler''s Mutual be better?

4) Should I use their no interest financing? Or am I better off putting it on my credit card so I have fraud protection? I can pay it off regardless.

5) I have initiated the purchase, but I have neither put a down payment yet, nor posess the ring. Since Kay has a 90 day return policy, I can still change my mind

I appreciate your help

S

RingSamir.jpg
 
Date: 9/18/2007 9:45:20 PM
Author:sas22
I am getting ready / kind of did purchase a diamond engagement ring from Kay Jewelers. What I like about the ring is it has a 3/4 kt center stone, and than a few sparkly stones on the side, totalling a 1/2 kt. My questions are:

1) So plenty of people on this board say buy online. If I buy online, what is this style of ring called, since it isn''t a solitaire, if I''m looking for it online. Where online should I look? I have attached a picture.
I would look at WF ACA Princess and Good Old Gold for a princess

2) Kay has a lifetime diamond warranty provided we get it inspected every 6 months. What about the extended service plan? Is it worth it? Every Christmas, tons of articles come out about NOT buying these plans (except laptops), and that Circuit City and Best Buy make a ton on them. What about rings?
I don''t think it is worth it; that is what insurance is for.


3) Insurance - Kay sells an insurance if I use their financing. I don''t think it covers loss though, if I read the fine print. Would going with Jeweler''s Mutual be better?
Yes, or if you have State Farm you can get a rider added to your policy which is usually cheaper than Jewelers Mutual

4) Should I use their no interest financing? Or am I better off putting it on my credit card so I have fraud protection? I can pay it off regardless.
I wouldn''t do that; you can charge on cc or pay off right away w/all the vendors. http://www.pricescope.com/dealers.asp

5) I have initiated the purchase, but I have neither put a down payment yet, nor posess the ring. Since Kay has a 90 day return policy, I can still change my mind

I appreciate your help

S
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Welcome to PS!!!
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Kay''s is usually priced higher than online vendors. Cut is the most important thing. Let me see if I can find something similar to you setting. What is your budget? What color? Clarity and white gold or platinum?
 

Thanks for your reply.



It is 3/4 kt stone, princess cut on the center.



The rest of the diamonds total 1/2 kt.

Kay was charging me $2300 when it was a 1/2 kt in the center and now it is up to $3000 with a 3/4 kt in the center.

As for insurance, I have State Farm, but she lives several states away and has Nationwide. Edit: I called my State Farm agent and they said they will cover it, worldwide, whereever it is. It's a separate policy. So I will do that.

Do State Farm and Jeweler Mutual cover the same types of damage? State Farm's seemed pretty comprehensive.
 
I don't see why you can't insure it w/your insurance. I guess I am a little confused; is it a gift? Are you still looking for a ring?

I don't know if this will help you but I found these great diamonds about 3/4th carat and above
http://www.whiteflash.com/aca_princess/A-Cut-Above-Princess-cut-diamond-312243.htm

http://www.whiteflash.com/aca_princess/A-Cut-Above-Princess-cut-diamond-312236.htm

here is 1/2 carat for $1K
http://www.whiteflash.com/aca_princess/A-Cut-Above-Princess-cut-diamond-284261.htm
 
I would ask the online co. you purchase the diamond from if they can make the setting for you. Since you have the picture, just show it to them.
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Skippy found you some killer stones, and I would recommend staying at H or higher, just cuz square cuts tend to show color more. Here''s one more, not their branded, but a nice one nonetheless.

http://www.whiteflash.com/princess/Princess-cut-diamond-336526.htm#
 
Date: 9/19/2007 6:06:48 PM
Author: Ellen
I would ask the online co. you purchase the diamond from if they can make the setting for you. Since you have the picture, just show it to them.
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Skippy found you some killer stones, and I would recommend staying at H or higher, just cuz square cuts tend to show color more. Here''s one more, not their branded, but a nice one nonetheless.

http://www.whiteflash.com/princess/Princess-cut-diamond-336526.htm#
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I like that one Ellen!!! I bet WF could make that ring for you and if you ever want to upgrade the diamond you can!!! Best wishes
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Make sure your State Farm agent understands that the person wearing it lives in a different state from you. Insurance is regulated differently in different states and it can make a fair amount of difference in the details of the policy. There’s a decent chance that they won’t cover it because she isn’t named on the policy but definitely ask. Nationwide has a similar sort of offering in most states had her Nationwide agent may be able to help you out.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Jewelry Appraisals in Denver
 
Thank you all for all your help and I apologize that I am ignorant.

State Farm said their policy is separate from my homeowner policy and it will cover as long as I give them her address. It covers theft, damage, stone popping out, and mysterious diseappearance. They said they would cover it even if she lived several states away. I just have to get an appraisal.

While I have an intent to purchase at Kay Jewelers, I have not put any money down yet and it is 90 day refund. So if I find a better one or a better price, I can do that.

So that''s where I am confused about the suggestions you all provided. You all sent links to diamonds. But what about the whole mounting and diamonds on the side. When I said $3000, I meant that is the total price for everything. So if you can show me to where to get a mounting like that with the diamonds on the side, that would be great. I''d rather just order and have it delivered; I don''t want to have to order one component from this place, that place, etc.

I''m in the dark on the online diamond shopping too.
 
Can you buy the setting alone?? Well Kay sell''s the Leo diamond so that might almost be up there w/WF ACA or ES which we gave you links for. Do you know anything about the diamonds so we can compare apples to apples? That would help us and you.
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sas, sorry we misunderstood you.

I was implying to have the setting made where you bought the stone online, that way you are only working with one co. I don''t know if you could buy it already made anywhere other than Kay''s, and I don''t know if they''d set a stone from somewhere else.

But at a total buget of 3000, you would definitely have to go smaller on the main stone, and squares face up smaller for their ct. weight to begin with...

Do you mind me asking, did she specifically ask for a Princess cut?
 

The picture I included was from Kay''s catalog. I don''t have the ring yet.


They did not tell me much about the diamond in it. They said it isn''t certified because it isn''t a solitaire.


She liked the princess when we were looking, but she wasn''t too picky.


Ellen - I wasn''t sure I understood why you said I''d have to go smaller for $3000 budget. Do you think I''m getting a good deal with $3000 for the total ring? I guess you have to know about the diamond.

 
Date: 9/19/2007 10:12:11 PM
Author: sas22





Ellen - I wasn't sure I understood why you said I'd have to go smaller for $3000 budget. Do you think I'm getting a good deal with $3000 for the total ring? I guess you have to know about the diamond.

Click to expand...
I am not Ellen and I think she is pretty awesome though. I do think you need info on the diamond for us to help you. I think the best thing you could do is either a or b:

a) get a quote from WF to see what it would cost to make the ring. WhiteFlash is vendor and they are very good at getting back to you soon; call them if you like.

b) Ask to see a leo diamond in comparison to the one already set in the stone. Do they sparkle the same? Does it look as nice? Their Leo is suppose to be better than their already set diamonds. A Whiteflash ACA or ES will sparkle more than a Leo. If you like it and she likes it then it is worth the $3k.

Lastly, I bought a ring from a store and it looked great to me and then I lost it and came here for help in replacing it. My husband and I are amazed at how sparkley my WF diamond is which it wasn't as sparkley before w/my other diamond. I guess knowledge is good for the consumer but bad for the chain stores. Hope that helps and best wishes!!!
 
hum, all I can think when I am reading this is what exactly do you know about diamonds?


Have you ready any of the information about color, clarity, and cut? If not the tutorials linked above are a good place to start, but it is only a beginning.

I would say the first thing to know is that Kay's jewelers is not going to be giving you a "steal."

If the options on here seem to be way more expensive than what you are paying, then there is a simple explanation, the options you are looking at on here are of higher quality. To get a better feel you could look at options like this:

http://www.whiteflash.com/princess/Princess-cut-diamond-349772.htm

and

http://www.whiteflash.com/princess/Princess-cut-diamond-347522.htm

but of course these are online prices and though they are certified they may well be less than the same quality uncertified diamond at Kays, but I think they would charge even more for that same quality, and I would say you couldn't be getting much quality than that in that particular setting at 3k.

Since you signed the paper I would call them and tell them that you want it sent to the store for you to look at it before you actually put anymoney down. Take a good look at, and if you are still interested see if you can take it to get it appraised independently. The real problem is that there is no certification you said?

so you can tell what the color is
you cant tell what the clarity is
you cant tell any information about the cut which is important for two reasons. One is the light performance--which will directly translate into beauty or lack of beauty. And the other important element is how wide, long, and deep it is. You might have a 3/4 ct, but it might be really deep and be the same width as a 1/2 ct diamond.

and therefore without ALL of that information you cant tell if you are getting a decent price or getting ripped off.

but there again you have to be careful, the guys at the store might tell you is an "I" color. but how did they decide that? if it is actually a J or K or L color, its a huge price difference, making the lack of formal certification really difficult to work around.


And while I would love to say just look at it and make the decision yourself, the problem is that you might not see the whole story. Some diamonds honestly look like a lump of ice...but without any experience you might not identify it just looking at it by itself, or even in a jewelery store doing a comparison. After all, its a diamond, there is a lot of mental implications and connotations to that, and frankly it is bound to be reflecting SOME light. And if she doesn't know anything about diamonds she might not think about it either. It would just be a ring that she is proud of, and while it never sets her heart affluter with how beautiful it looks and it isn't winning compliments with its excellent light performance she might not care because she might not know better, meaning she may be quite happy with it for her whole life, and thats ok too.

But thats where our job as the person presenting her the ring comes in. She might not be able to identify a bad one right off the bat, but I will tell you, she will know a top notch performing diamond when she sees it, and all the more when she is living with it everyday of her life. If you get her a beautiful excellent performer that looks white and doesnt have visible inclusions. She is going to recognize it and really appreciate the ring not just because it is an expensive diamond Ering from her love--but because it is truly incredibly beautiful in its own right. but with out any certification or information or training to look at the diamond and figure it out yourself how are you supposed to select a diamond that can truly do that on a daily basis? The line between top notch and poor performers is honestly a small line, but it makes a huge difference.

Anyway, I say take a look, and try to find some top of the line princess and rounds to compare it with, look at it in various lighting, get more information about this diamond and keep studying about them so you can make a more informed decision. but if you pay for it, based on what I have seen of inhouse certified diamonds from Kay jewelers I would recommend not waiting 30 days before deciding to use your 90 day return period.

although that is a pretty neat setting. Are you sure she wants something so different from the norm? If so I say buy the setting separate from that company, I doubt you will find its equal elsewhere, but maybe. At least check what it would cost to buy separately tough, it might be less than you would think, and it would give you an idea of what they are charing you for your center stone.
 
Date: 9/19/2007 10:12:11 PM
Author: sas22







The picture I included was from Kay's catalog. I don't have the ring yet.









They did not tell me much about the diamond in it. They said it isn't certified because it isn't a solitaire.









She liked the princess when we were looking, but she wasn't too picky.









Ellen - I wasn't sure I understood why you said I'd have to go smaller for $3000 budget. Do you think I'm getting a good deal with $3000 for the total ring? I guess you have to know about the diamond.

Click to expand...
I wouldn't want to get a 3/4 center stone that was not certified. And Mall stores usually put mediocre side stones in their settings. You would be better off going with a certified solitaire. If she wants a fancier setting, get it later. That way she could help pick it out, but you could do the original surprise engagement thing now with a simple solitaire setting that has a "knock out" stone. I think it is better to put your money into having one great stone rather than several crappy ones. (you could even go up in size with the money you would save going with a solitaire) And you should somehow find out "for sure" if she wants a princess. That may be what she definitely wants, but you need to know.
 
Date: 9/19/2007 10:12:11 PM
Author: sas22
They said it isn't certified because it isn't a solitaire.
Click to expand...


This really bothered me. I don't know too terribly much about Kay's practices, but a "solitaire" is based on the type of setting. The diamond goes in one setting or in another some solitaires some not. But the setting is one thing and the diamond is another, they don't grow together naturally, thus the diamond must be selected and placed in the setting. To properly evaluate a diamond the diamond should be out of its setting, though it can be appraised afterward of coruse, that will only be an approximation at best and can't reveal as much about the diamond.

But the fact is that the diamond is what it is, and you have chosen a setting in which for it to sit. That setting not being a solitaire hardly seems like a reasonable excuse for not having any paperwork on the diamond. sounds like some pretty shabby business practices to me.
 
Sas: Do YOU like the setting/stone? That''s all that really matters here. Even minor lurking on this board would reveal that buying at the mall is considered a no-no, but personally, I don''t care. I think if you like your purchase then stick with it. To 99% of the people you run into in day-to-day life a diamond is a diamond is a diamond.

A well-cut stone will reflect more light than a stone that isn''t as well cut, but if you like what you have then why worry? Just because a diamond comes from WF or some other "online only" place does not mean that it will shine more - it really has more to do with the cut than anything.

About the certification - does it totally matter to you if the stone is certified or not? Can you see visible inclusions in the stone? If not then I don''t think a cert. should make or break your purchase.

Good luck!

Jess
 
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