Too good to be true?

[b-radman]

Hey everybody! I''m new here and my name is Brad. I''ve been spending the last couple of days reading all the informational stuff on PS and reading some forums. I''m shopping for a diamond for an engagement ring and found a 1.51 carat round brilliant, H SI2 GIA-excellent cut, with and HCA score of .9 for $2,325. I haven''t seen the diamond in person yet and the GIA report says it has faint flourescence. Your thoughts?

 

[Lofi]

Date: 10/18/2009 1:52:06 AM
Author:b-radman
Hey everybody! I''m new here and my name is Brad. I''ve been spending the last couple of days reading all the informational stuff on PS and reading some forums. I''m shopping for a diamond for an engagement ring and found a 1.51 carat round brilliant, H SI2 GIA-excellent cut, with and HCA score of .9 for $2,325. I haven''t seen the diamond in person yet and the GIA report says it has faint flourescence. Your thoughts?

I''m no expert, but that seems like a VERY low price for a well cut 1.5 carat diamond. Where did you find this stone?

 

[stitch]

I am still learning here and I think the price is too good. What kind of inclusions do you have on that stone?

 

[Dreamer1116]

Sounds too good to be true IMO. I have never seen a 1.5 carat stone that inexpensive, not even an SI2, and certainly not graded by GIA. I would totally be excited for you if it turned out to be a real beauty, a steal! Keep us posted on what you find out.

 

[Lorelei]

Date: 10/18/2009 1:52:06 AM
Author:b-radman
Hey everybody! I'm new here and my name is Brad. I've been spending the last couple of days reading all the informational stuff on PS and reading some forums. I'm shopping for a diamond for an engagement ring and found a 1.51 carat round brilliant, H SI2 GIA-excellent cut, with and HCA score of .9 for $2,325. I haven't seen the diamond in person yet and the GIA report says it has faint flourescence. Your thoughts?

Welcome!

The price is indeed incredibly low, is the stone for sale on the secondary market or private sale? Is it possible it is clarity enhanced? The faint fluorescence won't be an issue but the price is definitely a concern.

 

[HVVS]

Quick! What were the specs on those 3 or 4 lost PS rings, Gang?

Sounds too good to be true. A setting might cost that alone.

 

[Lorelei]

I forgot to ask, is the diamond already set in a ring and have you seen the matching GIA report?

 

[stone-cold11]

Definitely sounds too good to be true.

 

[FB.]

I assume you''re talking $US?

I would expect a genuine, 1.5ct, GIA-Ex, H, SI2, to retail for at least $7000 (US) and probably a lot more.

The price sounds far too good to be true for the retail price of a new diamond.

I would want to inspect the stone in person (with my "loupe") and match up the inclusions with the GIA plot - and inspect for damage to the stone.
I''d also double-check the GIA cert on their website.

 

[denverappraiser]

As has been pointed out, that’s a very low price and that’s definitely a red flag. You can find offers for similar stones offered by some very competitive dealers by searching the database here to calibrate your scale of what to expect. You’re right to be nervous. Get it checked out through an independent appraiser. If the seller is a private party, have it done BEFORE you release any money beyond the appraisers fee and if it’s a dealer who you are inclined to mostly trust, still make sure you’ve got a 100% return privilege for a reasonable amount of time if something turns out to be wonky. Get this in writing and use a credit card. Take it directly to your chosen appraiser and get it checked out.

Some particular things to watch out for

1) It’s not the same stone as what is described on the lab report.
2) It’s been damaged since the lab saw it.
3) It’s not really GIA but some ‘alternative’ source of grading, like a GIA trained grader.
4) It’s a scam from the get go (Identity theft, credit card fraud, etc).
5) Questionable ownership history (stolen merchandise)

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

 

[MissGotRocks]

Run!

 

[ct-appr]

Ditto. I would be very cautious on this one. It is way below market. I think Neil covered the main issues very thoroughly. I think our collective guts tell us it is a scam.

 

[HopeDream]

PS member Basil lost an 1.5 H SI2 recently

Was the diamond found in a parking lot?

Basil''s ring