Unsure of the "deal" on this one

[soontobemrs]

My boyfriend and I have started looking at diamonds and we''ve been working with a friend''s uncle who used to own a jewelry store for 35 years. He seems to be a straight-shooter...and claims to be cheaper than a B&M because he doesn''t have the overhead anymore.

We don''t want to spend a lot of money (around $4k or less) and I want to put most of the money into the center stone, so we''re going to go with a pretty simple white gold trellis setting that he can do for us for $225.

The other day he showed us a diamond he got on a trade-in - and he has appraised it as .90, I, VS1, 60% table, very well cut, slightly assymetrical (I couldn''t tell under a loupe) and priced it as $4100 (this is all the info he gave us). He said that he would normally sell a diamond like this for $4800 (but was able to offer a better price b/c of the trade in) or so and that it would probably be closer to $7000 in a retail store.

We''ve requested that he get it "officially" certified before we go any further, so he''s sent it off. But I did some checking on bluenile.com and found that $4100 was on the high end of the price range for the given search criteria! I brought it to his attention and he said he would do some checking (seems like an honest guy, really)

Any thoughts on this diamond? thoughts on buying a diamond onliine, sight-unseen, since to me, the sparkle is the most important thing? If we''re going to spend $4100, would it make more sense to get something with maybe a better color and lower inclusion grade?

thanks!!!!

Laurie

 

[GC]

I''m a super noobie when it comes to most of this..just starting to learn my way around the sparklers. But..just from the little bit of pricing and talking I''ve done looking for an e-ring, I even thought that his estimate of $7000 in a retail store seemed pretty incredibly high. Of the two stones I''m centered on right now in my search, one is an I/VS2 for $4200, the other is an I/Si1 for probably a bit less.

But 4100 for an I/VS1 seems pretty decent..for what I know..and thats little.

 

[Dee*Jay]

Hi there!

I''m working under the assumption this is a round stone--if that''s not he case please clarify. Based on a quick "Pricescope your diamond" that seems to be too much $$$ for this stone. That being said, I only put in the ct weight color and clarity; there are other factors needed to assess a stone, most importantly the cut.

When you say he sent it off to be certified -- sent it off where? The type of certification can also impact price; i.e., an EGL stone typically sells for less than a GIA or AGS stone.

Honestly, I would post your criteria are in terms of color and clarity and let the experts on this board suggest some stones to you.

As for buying over the internet, if you buy from a reputable vendor (like the ones that will be suggested to you on this forum) with a good return policy you should be perfectly comfortable.

Bottom line, if this were me buying a diamond, I would thank the gentleman that you''ve been working with and move on to an on-line vendor to get the best price and a great stone.

 

[widget]

Hi Laurie, Welcome!

I think it''s great you''ve found Pricescope now, at the beginning of your search....a great place to get educated about diamonds.

I think that dealing with "somebody''s uncle" is generally a bad idea...that you''d be better off with someone currently "in the business" who is trustworthy.

Also, I think diamond shopping online is A GREAT WAY to shop, especially if you''re looking for a round brilliant. It''s easier to narrow down your choices to a best candidate, and with a good return policy, the only ''risk'' you take is possibly being out return shipping costs.

I just did a quick check on the data base above, and it looks to me like you could do much better....there appear to be better-cut GIA graded stones out there for less than what that fellow is offering.

Take your time, get educated, and have fun!
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[:)]

I agree c/ Dee Jay - also assuming it is a round stone - need to know what lab is grading it as some are stricter than others. Also do you have any idea of the depth % of the stone, the crown or pavillion angles? If you have the table size, then maybe you at least have the depth to start with? Does the friend's uncle have access to a sarin or ogi to be able to get you those #'s? With regards to cut, a lot of people prefer table sizes less than 60%, but that is not to say that 60% is a bad thing, as many people also love 60%! A smaller table size would tend to increase the amt of fire, as would a higher crown angle.

ETA: Widget was posting when I was too!

 

[Kaleigh]

Dealing with a friend''s uncle is usually a bad idea. Heard too many sad stories. Learn all you can on here and buy online. That stone from what you gave us doesn''t sound like much of a good deal to me. But then again we don''t have all the info on it.

 

[soontobemrs]

I appreciate everyone''s feedback! I think he''s sending it to EGL...

The only benefit I see with doing business with him over doing it online is the fact that if I have any issues, I have an actual person to go to. Also, he offers 100% trade-up value (actually, it''s 125% after 10 years, etc...) Although, I do understand that doing business with family/friends sometimes can be trouble.

I actually really like the idea of buying online for the sheer value of it (my bf and I are both huge bargain hunters, which is why we went to someone who could get us something at "close to cost" in the first place), so I''m totally open to it. I''ll create another post to get some recos.

THANKS!

 

[Upside Down Man]

I am a personal victim of the "monkey's uncle" diamond purchase. It was a jeweler referal of a close family friend who had only the best intentions. So of course since my family friend has the best intentions, I thought the jeweler couldn't be all that bad. Long story short, he way way WAY overcharged me on a stone. Luckily I found this site in time to return the stone.

I ended up with the same carat weight, same color, TWO clarity grades BETTER, and a cut grade BETTER (GIA "very good" to "excellent") for $550 LESS money.

Anyway you're doing the right thing - get educated, then purchase. Clearing your purchase with people here is not a bad idea, either. They are completely removed from your situaion and wholly unbiased. I agree with the above poster who advised saying "thanks but no thanks" to the friend's uncle. Even if the stone would sell at $7,000 retail, doesn't mean you still shouldn't get an optimal price for it (i.e., better than 4100).

UDM

Edit: I also recall going to the jeweler my dad uses regularly. My mom and the jeweler are from the same country and speak the same language, and my dad shops from him often. So I thought - if anyone will take care of me, this guy will. He showed me yellow stones and kept repeating "EGL is just as good as GIA. They're the same thing." What a nightmare.

B&M jewelers have been fleecing people for years, and finally the internet gives the common consumer the ability to fight back.