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Uncertified Cushion

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waves044

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My boyfriend and I have begun a search for my engagement ring and found a diamond that we both like very much... our only uneasiness lies in that it is not certified. It is a 1.00 cushion H Color SI2 Clarity eye clean, the only inclusion I could find with the lupe was a small feather on the very edge that could be covered with a prong. The price we were quoted is 3400. My questions are these:

Does this price seem to be in line with the few specs I have?

Is it a mistake to buy a diamond without the certification?

Is it possible to get it certified and how much should this cost?

Thanks!
 
Best thing would be to get an independant appraisal on this diamond if you love it, and make the sale final on it checking out for colour and clarity. This will cost you roughly $100 - 150 give or take from what I understand and would be money well spent. The vendor or yourself could get it sent to GIA for a report, it takes a few weeks and costs around that I last heard - $250 for a report, but it may be more expensive now. The thing is, with a report the price could go up if the vendor did it, and it graded the same or higher, or it could grade lower and would you still want it if it did? Also without a report it would be very difficult to sell it or trade it in if you ever wanted to upgrade...

https://www.pricescope.com/appr_list.aspx

See this page to find an appraiser in your area.
 
If you love it, you should buy it. It''s a definite mistake to buy based ONLY on color/clarity, but there are many here who have bought based on eyesight desPITE what color/clarity was. If you think it''s a beautiful diamond, like Lorelei says, will it hurt your assessment if you find out it''s lower than an H/SI1?

The PS checker thingamajig at the top pretty much only gives prices on certified stones, so I''m sorry I''m no help there... Specs can be so variable depending on who provides the specs, and there are a lot of things other than color/clarity that are taken into consideration when pricing a diamond, I think...

Certification -- see Lorelei''s post
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Good luck, and congratulations on the upcoming engagement!!!!!
 
Yes, since you have seen the stone in person, you should buy the stone and not the paper. However, I second Lorelei''s suggestion for an independant appraiser so that he/she can determine its colour and clarity. You want to pay for a H SI2 stone, not a I I1 stone. Withoug knowing this information, there is no way to determine the price of the cushion. I would buy uncertified stones (I have done so in the past) only after I have verified these information.

Certification from GIA can take a few months and costs about $250 or so. I think the vendor has to send the stone in. EGL USA is a bit quicker, I think it takes a few weeks. It is a double edged sword. If the colour and clarity comes back better, the vendor could raise the price. If it comes back worse, would you still love the stone? You will probably have to renegotiate with the vendor too. If you are planning to upgrade, having the cert makes it so much easier to sell/trade in and most likely will get you better pricing as well.
 
Thank you all for the replies... Since we both do love the diamond I guess our only concern is that we are overpaying. Doing a search of the loose diamonds on PS, it seems that the certified stones are similarly priced, with many that are cheaper... Shouldn''t an uncertified diamond be priced lower (assuming that the specs would remain the same if our diamond was certified) if it isn''t certified?
 
Yes, uncertified stones are usually priced lower. By how much? I don''t know.
 
Date: 12/12/2007 9:36:31 AM
Author: Chrono
Yes, uncertified stones are usually priced lower. By how much? I don't know.
Ditto, it is very hard to say, that is why an appraisal would be a good move. An expert examining the stone can give you a more accurate idea of pricing.

Also using the search tool, the prices are generally for online diamonds, which are usually cheaper than ones in a jewellery store, so that could make a difference too, if this diamond is being sold by a store or jeweller.
 
Actually a GIA report for this will cost $90-100 plus shipping, and it's currently taking about 2 weeks at the lab plus shipping time. $3400 sounds a little high to me but still in the range. For the price the dealer should get the report with a commitment from you to buy if it grades out. You'll get more info from an appraisal but I'd like having the report as well.
 
Date: 12/12/2007 12:51:47 PM
Author: elmo
Actually a GIA report for this will cost $90-100 plus shipping, and it''s currently taking about 2 weeks at the lab plus shipping time. $3400 sounds a little high to me but still in the range. For the price the dealer should get the report with a commitment from you to buy if it grades out. You''ll get more info from an appraisal but I''d like having the report as well.
Thanks Elmo, just curious, I thought the lower price was for diamonds of half a carat or under, and that diamonds over a carat or thereabouts cost around $250, I just wanted to check that so I can give the right info in future?
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I see the shipping/waiting time has lessened. When I talked to my local jeweller last year, he quoted me 6 months. I wonder if he was trying to buy himself extra time, if it was a sales pitch or has the waiting time really come down.
 
Date: 12/12/2007 12:59:43 PM
Author: Chrono
I see the shipping/waiting time has lessened. When I talked to my local jeweller last year, he quote me 6 months. I wonder if he was trying to buy himself extra time, if it was a sales pitch or has the waiting time really come down.
I thought the average was 4 - 6 weeks for a full report, could be wrong though...
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Elmo,

Thank you for the input. I want to make sure I am understanding what you have said:

We can request that the diamond be sent to GIA, and that it comes back the same as advertised we will buy the diamond. What if it comes back better than the specs we are given? Will we then be expected to pay more?

Also, who should take on the costs of certification?

The 3400 was an approximate price, because bf negotiated the price of the ring and setting down from 4900 to 4200. Now that I think about it, it is probably less than that as the setting is a halo setting that was originally quoted at 1400.
 
Lorelei,

This jeweler told us that it would be about 1-2 months and cost 350 for shipping and certification...
 
Date: 12/12/2007 1:09:16 PM
Author: waves044
Thank you for the input. I want to make sure I am understanding what you have said:

We can request that the diamond be sent to GIA, and that it comes back the same as advertised we will buy the diamond. What if it comes back better than the specs we are given? Will we then be expected to pay more?

Also, who should take on the costs of certification?
This is actually fairly common. Since the stone isn''t discounted that much from list I expect there''s room for the seller to pick up the $100 + shipping. Unless the stone somehow commands a premium i.e. ex/ex modern, branded etc. If it comes back better then you''ve made a smart buy
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, price stays the same. If it comes back lower, then you have the option of getting your money back or renegotiating the price based on the lab grade. For this sort of arrangement I''d normally write a check for a sizable deposit or simply the full amount to demonstrate your intent. Of course you''re doing business with someone trustworthy, I hope.

Good luck.
 
Date: 12/12/2007 1:10:28 PM
Author: waves044
This jeweler told us that it would be about 1-2 months and cost 350 for shipping and certification...
Depending on where you are, I'm thinking one week there, two weeks at the lab, and one week back. Of course everything is slower this time of the year. Sending this registered mail shouldn't cost more than about 20 bucks each direction. Since it's under $5K I even think USPS overnight is an option. But you likely won't make Christmas.

The statement about time and cost may change a little if you commit to buy and back it up with money.
 
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