8 replies to this topic

[CanadianGuy]

Hi All,

First time poster. I've been researching diamonds in preparation of buying my girlfriend and engagement ring in the coming months. Been doing a lot of reading on this forum and other places on the internet as well as comparing prices to see what my budget will allow.

I have been comparing prices on some of the major online retailers. I went over to a site and was looking for a 1ct, round, H/I, VS1 diamond when I plugged those peramaters into their search their prices seemed decent but then this diamond caught my eye:

[url="http://www2.gia.edu/reportcheck/index.cfm?fuseaction=home.showReportVerification&reportno=2111639027&weight=1.71"]round, 1.71 carat, D, IF[/url]

It's listed as Round, 1.71 carats, D, IF and has a GIA report and it's listed for $4724 Canadian

WHAT??? It seems like this is a $30-40k diamond

Can someone please explain to me what I'm missing here. I've read several "this is too good to be true threads" on here and when I saw this I figured something is wrong or I'm missing something. So what am I missing and on the 1 in a million flipside nothing is wrong please no one else buy it out from under me. Thanks

Edited by CanadianGuy, 27 May 2011 - 05:37 PM.

[denverappraiser]

Sure.

It's either an error or a scam. If it's listed somewhere by a credible dealer, I'm going with the former. If it's listed by a fly-by-night dealer, I'm going with the later. Either way, the result is similar. I DO NOT think you'll get that stone for CDN$4724. If you count the dealer as credible, I know a simple test. Buy it. The issue here is about the dealer, not the diamond. I don't know them from Elvis but that doesn't make them bad. Look into them and see what you find.

IF it were real, posting it on a public forum like you've done would most definitely get it bought out from under you. If you're worried, edit your post and delete the dealers name.

Edited by denverappraiser, 27 May 2011 - 04:15 PM.

[CanadianGuy]

denverappraiser, on 27 May 2011 - 04:09 PM, said:

Sure.

It's either an error or a scam. If it's listed somewhere by a credible dealer, I'm going with the former. If it's listed by a fly-by-night dealer, I'm going with the later. Either way, the result is similar. I DO NOT think you'll get that stone for CDN$4724. If you count the dealer as credible, I know a simple test. Buy it. The issue here is about the dealer, not the diamond. I don't know them from Elvis but that doesn't make them bad. Look into them and see what you find.

IF it were real, posting it on a public forum like you've done would most definitely get it bought out from under you. If you're worried, edit your post and delete the dealers name.

Thanks for the quick reply and advice. I suspect its priced in error or something as the site seems quite legit and they have many other diamonds that seem fairly priced but not scam "too good to be be true" prices. I'm not getting my hopes up but maybe I'll look into this a bit more just in case.

[LaurieH]

I'm a bit curious myself how this pans...they've listed the right report, so the error is either in listing the price (helluva typo!) or it's a scam.... hmmm...

[davidelevi]

What you are missing is a "5" in front of the first "4".

Or perhaps even a "7".

[wtanaka]

CanadianGuy, on 27 May 2011 - 02:45 PM, said:

[url="http://www2.gia.edu/reportcheck/index.cfm?fuseaction=home.showReportVerification&reportno=2111639027&weight=1.71"]round, 1.71 carat, D, IF[/url]

Searching for the GIA report number shows what seems to be that same diamond listed here: [url="http://www.gillian-home.com/DiamondView.asp?Id=2519080"][url]http://www.gillian-h....asp?Id=2519080[/url][/url] for 66,395 CAD

[CanadianGuy]

Thanks for the help folks. For whatever reason it's no longer listed on the site, I'm choosing to believe that it was listed in error and has been taken down (as opposed to I could have actually bought it for $4700) in any event it's gone now.

[LaurieH]

Error or otherwise, they would NEVER have actually let you buy it for that price. They'd apologize profusely and offer to find you another diamond in your price range as close to that as possible, but no company is ever going to eat a 5 figure error. Well, not if they wanna stay in business very long...

[danfitz36]

i actually noticed a similar, but much less drastic error in price a few months ago at a very reputable jeweler. i put the deposit down and contacted the jeweler to find out what the deal was. They had happened to put a 3 instead of an 8 and had to change the price on me. They offered the diamond at the new price or offered to cancel my purchase. I cancelled and actually continued speaking with them about helping to find the right stone for me. it would have been great to get that stone for over 50% off the market price, but i knew it was too good to be true, mistakes happen sometimes.