Online vs in store price difference

[diamondquestion1]

I'm trying to decide whether or not to buy a diamond online and take it to a jeweler to get it put in a ring or just buy the diamond and ring together at a store. It would be for an engagement ring, neither of us really know anything about diamonds.

Looking for something like this:
Budget 2500 (ring and diamond) (plain white gold solitaire setting)
Clarity: VS2 or SI1 (but eye clean)
size: 0.7-0.75 carats
color: h or i
cut: excellent? HCA <2? (not really sure but I heard cut is probably the most important)


So how much can I expect to save by buying online vs buying in store? Buying in the store seems nice b/c I will be able to see the diamond and see if it is eye clean to me before buying.

 

[Christina...]

We can't tell you exactly how much you will save or if you will save at all. Some online vendors sell their stones for less than other online vendors, depending on their overhead and the services that they can offer you. Same is true for a BM. It's true that you will be able to evaluate the stone yourself if you purchase your diamond locally, but there is so much more to a diamonds beauty than eye cleanliness, which can be evaluated by online vendors as well by the way. If this is your first diamond purchase and you don't have a lot of experience then online vendors are a nice option because of the images that they can supply you. Most BM location don't offer, some have never ever heard of, idealscope images, which is an important tool that tells you if the stone has any leakage, a crucial aspect of purchasing a well cut diamond. If you don't trust your own eyes to judge the diamonds beauty than online may be a good option because of the additional tools and support available to you.

Many BMs also sell EGL stones, because they have higher profit margins than labs such as GIA and AGS, they are also one of the most inconsistent labs in the world and should be avoided. Many BMs prefer to sell EGL because the diamond appears to be a value due to it's soft grading. Most consumers don't do enough research to realize that they will almost always pay more for an EGL graded stone than they would a GIA or AGS graded stone. For instance, I've seen an EGL and GIA graded stone where EGL was off by 8 color grades!! So, you can see why some vendors would prefer to push EGL stones to unsuspecting consumers!

It's also to important to consider services that are available to you after the sale. Most PS vendors offer trade-in and upgrade policies, as well as buy back policies. Many will service your diamond for a lifetime, free sizing, free rhodium plating, polishing, inspections, etc. All of these are important and add value to your purchase. If you think that you may want to purchase a larger stone done the road, then purchasing from a vendor with an upgrade policy can save thousands in the long run.

Your best bet is to do a PS search for diamond with comparable specs to the one you are considering and then compare then to prices that you are seeing locally, and then consider the additional services offered to determine where you will find the best value for you. I'd be extremely surprised if it wasn't from an online vendor though.

 

[diamondquestion1]

OK, thanks for the response. I guess I'll just take a look in stores and see what I can find.

Any online recommendations about the diamond I mentioned in my first post?

 

[diamondseeker2006]

What I found when I was looking for diamonds locally was that no jeweler had a supply of ideal or excellent cut diamonds. If they had any, they weren't necessarily in the size and price range I needed. You'll have MUCH more to choose from online. And I did find prices higher in the local stores for lower quality stones than I did for excellent cut stones online.

I will forewarn you that jewelry store lighting makes all diamond look good. So please don't let that fool you. I'll take a look and see what I can find in your budget.

 

[diamondseeker2006]

Here is one:

http://www.whiteflash.com/loose-diamonds/round-cut-loose-diamond-2794513.htm ($2374 with pricescope/wire discount)

When you go to .70 and up, it looks like H and I SI1's in excellent/ideal cut are going to be $2500+ just for the stone.

 

[Christina...]

I just wanted to mention that when you are comparing online prices to local BM prices, be sure that you are comparing like stones. For instance, don't compare your local jewelers EGL G VS2 to an online GIA G VS2 and expect the prices to be the same. As I mentioned above, that same EGL stone would likely be grades as a GIA I or J SI1 or SI2, because of EGLs softer grading. Best just to avoid EGL all together and only consider GIA or AGS ideal and excellent cuts.

 

[milton333]

Here are some options:

One of these: http://www.whiteflash.com/loose-diamonds/round-cut-loose-diamond-2794513.htm or http://www.whiteflash.com/loose-diamonds/round-cut-loose-diamond-2794514.htm
in one of these settings: http://www.whiteflash.com/engagement-rings/solitaire/6-prong-tiffany-style-solitaire-engagement-ring-582.htm or http://www.whiteflash.com/engagement-rings/solitaire/4-prong-tiffany-style-solitaire-engagement-ring-587.htm

Call and see if this would be eye clean to your requirements: http://www.briangavindiamonds.com/Diamonds/diamond-details/0.700-I-SI2-Round-Diamond-GIA-37994274 In one of these settings: http://www.briangavindiamonds.com/engagement-rings/solitaire/four-prong-solitaire-14k-white-gold-5342w14 or http://www.briangavindiamonds.com/engagement-rings/solitaire/six-prong-solitaire-14k-white-gold-5351w14

 

[arkieb1]

You have to be really careful because a lot of bricks and mortar stores sell EGL stones so you think you are getting a cheaper bargain when in fact compared to GIA they are several colours and clarities incorrect in the grading. The next pitfall is most bricks and mortar stores sell smucky cuts (the cut gives a stone the fire and sparkle and if it has better sparkle and edge to edge brightness it will actually face up bigger....) or stones that are heavily included.

Have you considered being flexible and searching reliable preloved vendors because a stone that size colour and clarity is going to consume all of your budget?

Something like this;

http://www.jewelsbygrace.com/rings/estate-modern/1-09ctw-round-brilliant-cut-diamond-3-stone-ring-by-ritani#.VX6ZpSgVq5Q

Or a beautifully cut antique diamond that will have lots of fire and sparkle that would come in under budget with a simple setting;

http://www.jewelsbygrace.com/loose-diamonds/under-1-ct/67ct-old-european-cut-diamond-gia-i-vs2#.VX6a_SgVq5Q

Also watch Loupetroop and DiamondBistro and the preloved section in here and see what comes up for sale members sell things and upgrade. You could make an offer on this if it is not sold already;

http://www.diamondbistro.com/category/215/Loose-natural-Diamonds/listings/42964/RB-082-carat-I-color-SI1-clarity-diamond-GIA.html

Or this put into a more ornate setting;

http://www.diamondbistro.com/category/215/Loose-natural-Diamonds/listings/40481/AGS-Ideal-000-G-VS1-0524-Diamond.html