Hey guys,
I''m about to buy my first diamond, ever, for an engagement ring. I''ve been doing a lot of research and learning about diamonds these past couple months, and I''m about to meet with my diamond broker about a great diamond he''s found for me. However, as with anything, reading and learning is far different from actually going through and doing it. I just wanted to run my next steps by the diamond-savvy here to make sure I do this right, and ask a few questions.
1.) Meet my diamond broker to see the diamond. It hasn''t been GIA certified yet, but he''ll send it out to get certified if I say I''m interested. (Side note, the diamond in question is a 1.09ct, G, VS1, with an ideal cut). When a diamond gets sent out to be certified, does it go straight to a GIA lab, or are there independent business'' that do this as well? I can''t recall if he said a friend of his does diamond certifications. Should I ask to get it sent somewhere for certification?
2.) Get the setting made. My girlfriend has picked out a Scott Kay setting from Bailey Biddle Banks, and I''ve found detailed images of the ring from different angles on the web. My broker said I could either give him those pictures, or I could purchase the ring from BBB, bring it to him to have a mold made, and then return the rings. My concern with his idea is, since the ring has a lot of fine detail/engravings, would the ring look exactly like the original? Or would it look like a copy of a copy (i.e., less detail, etc). Also, I want the ring made in platinum, and while Scott Kay makes the exact ring I want in platinum, BBB only has it in yellow gold. This won''t affect the mold process will it?
3.) Make my down payment on the ring to reserve the stones.
4.) Contact my insurance company (State Farm) about the details of adding the ring to our insurance. However, I just read a thread about State Farm (our current homeowner''s insurance), and how they don''t have the greatest policy. Is it possible to go with a different company and get purely insurance for the ring and diamond? I''ve heard horror stories about how people didn''t get insurance immediately and lost the ring a few weeks later. Another option I was considering, either as an alternative or as an additional measure, getting a safe deposit box at my bank and keeping it there for safe storage until I propose.
5.) Once I finally purchace the ring, I will take it to an independent appraiser (one I found from this site) to make sure I received what I paid for.
6.) Propose!
Did I miss anything, or anything I should be aware of?
Being that this is the largest purchase I''ve ever made, I''m still a bit skeptical about a few things. This diamond broker was referred to me by good friends, but these friends (husband and wife) are far more experienced with buying jewelry. They, unfortunately, no longer live nearby to help me out significantly. The price the broker gave me on the diamond is on par with the prices I''ve seen on whiteflash.com, and much better than the B&M retailers I''ve been to (BBB, Jared, etc) which gives me a little more piece of mind.
One concern I have about this broker is that the only tool he has for me to use is a loupe, and I''m definately not experienced enough to, in a reasonable amount of time, verify that the stone is as good as he claims it to be. Ideally, I''d like to send the loose stone (before I purchase it) to the independent appraiser, and then again after I purchase the ring. Not sure how this works though, do I leave collateral for the broker and take the diamond myself, or does the broker send the diamond directly to the appraiser?
Thanks for you time and for all the great info!
I''m about to buy my first diamond, ever, for an engagement ring. I''ve been doing a lot of research and learning about diamonds these past couple months, and I''m about to meet with my diamond broker about a great diamond he''s found for me. However, as with anything, reading and learning is far different from actually going through and doing it. I just wanted to run my next steps by the diamond-savvy here to make sure I do this right, and ask a few questions.
1.) Meet my diamond broker to see the diamond. It hasn''t been GIA certified yet, but he''ll send it out to get certified if I say I''m interested. (Side note, the diamond in question is a 1.09ct, G, VS1, with an ideal cut). When a diamond gets sent out to be certified, does it go straight to a GIA lab, or are there independent business'' that do this as well? I can''t recall if he said a friend of his does diamond certifications. Should I ask to get it sent somewhere for certification?
2.) Get the setting made. My girlfriend has picked out a Scott Kay setting from Bailey Biddle Banks, and I''ve found detailed images of the ring from different angles on the web. My broker said I could either give him those pictures, or I could purchase the ring from BBB, bring it to him to have a mold made, and then return the rings. My concern with his idea is, since the ring has a lot of fine detail/engravings, would the ring look exactly like the original? Or would it look like a copy of a copy (i.e., less detail, etc). Also, I want the ring made in platinum, and while Scott Kay makes the exact ring I want in platinum, BBB only has it in yellow gold. This won''t affect the mold process will it?
3.) Make my down payment on the ring to reserve the stones.
4.) Contact my insurance company (State Farm) about the details of adding the ring to our insurance. However, I just read a thread about State Farm (our current homeowner''s insurance), and how they don''t have the greatest policy. Is it possible to go with a different company and get purely insurance for the ring and diamond? I''ve heard horror stories about how people didn''t get insurance immediately and lost the ring a few weeks later. Another option I was considering, either as an alternative or as an additional measure, getting a safe deposit box at my bank and keeping it there for safe storage until I propose.
5.) Once I finally purchace the ring, I will take it to an independent appraiser (one I found from this site) to make sure I received what I paid for.
6.) Propose!
Did I miss anything, or anything I should be aware of?
Being that this is the largest purchase I''ve ever made, I''m still a bit skeptical about a few things. This diamond broker was referred to me by good friends, but these friends (husband and wife) are far more experienced with buying jewelry. They, unfortunately, no longer live nearby to help me out significantly. The price the broker gave me on the diamond is on par with the prices I''ve seen on whiteflash.com, and much better than the B&M retailers I''ve been to (BBB, Jared, etc) which gives me a little more piece of mind.
One concern I have about this broker is that the only tool he has for me to use is a loupe, and I''m definately not experienced enough to, in a reasonable amount of time, verify that the stone is as good as he claims it to be. Ideally, I''d like to send the loose stone (before I purchase it) to the independent appraiser, and then again after I purchase the ring. Not sure how this works though, do I leave collateral for the broker and take the diamond myself, or does the broker send the diamond directly to the appraiser?
Thanks for you time and for all the great info!