7 replies to this topic

[AMP113]

My story is rather long so, please, bear with me.

I'm considering purchasing from a small jeweler in my town. The store is located in a small office park, low overhead, no fancy decor or expensive lights. I purchased my original engagement ring, as well as my upgrade and wedding bands for my husband and I with no complaints.The upgraded engagement ring I purchased was $1795 and I sold it back for $900 about 3 months later due to financial troubles so I know they're making money on jewelry they buy.

Now that my husband and I are financially stable we've decided to buy a ring for me. We visited this store and the owner offered us a diamond I absolutely love but I'm still weary of making the purchase because it seems too good to be true.

The diamond is:

1ct pear shape

NOT certified

vs2, g color

not sure of the dimensions but from a visual inspection I'm sure it's within the recommended range.

The jeweler offered this at $2000 including a solitaire setting. His explanation was that it had belonged to a woman who traded her ring in on an upgrade and he had scrapped her out-dated setting and was not into the diamond for much. It is a beautiful stone that I would be happy to wear and it is truly eye clean and very white.

My question is should I ever consider purchasing a stone that is not certified?

Does this deal seem too good to be true?

Knowing that jewelers can "bump" stones up several grades what do I need to do to make sure I really am getting what is being represented.

Thanks for your help!

[barry]

I believe that any diamond should come with a grading document from a reputable diamond grading lab or from a recognized Independent Appraiser so that you know exactly what you are purchasing and for your own protection vis-a-vis Insurance policy and potential future loss or theft.

[davidelevi]

At the very least, make sure you have a good return policy, with no penalties and sufficient time to have the item inspected by a reputable, independent expert.

Price-wise, there is a big difference between G and H, VS2 and SI1, and 1.00 and 0.99. If it is fairly graded, it's a true bargain - which makes me suspect it is not fairly graded at all.

[barry]

You might ask the jeweler if he would be amenable in sending the diamond to GIA for grading.

[denverappraiser]

There's nothing wrong with jewelers who make money. The ones who don't are either fools or lying. That said, the solution is fairly easy.

If you otherwise like the stone, offer this: He sends it to GIA for grading. If it comes back as promised you pay the full asking price, plus the GIA fee, plus shipping and insurance. If it comes back less than his description the deal is off, he keeps the stone and report and HE pays all the bills. He then will have a GIA graded stone to sell to the next person. He's welcome to make a second offer and you can buy it or not but there's no obligation on either one of you.

Be aware if you do this that GIA is slow. You may or may not have it back before Christmas and it will still need to be reset in the ring.

[barry]

Turnaround time at the GIA lab here in New York is about 3 weeks. Check with GIA in Carlsbad, CA if their turnaround is faster.

[denverappraiser]

barry, on 03 November 2011 - 02:21 PM, said:

Turnaround time at the GIA lab here in New York is about 3 weeks. Check with GIA in Carlsbad, CA if their turnaround is faster.

On Tuesday (November 1) I got results on 2 stones that were received by them on September 12. I won't see it back for at least a week because of the registered mail delay. That was New York. Carlsbad is even worse. They quote 23 days on their website, and have done so for months but it is, ummm, how do I say this politely. Puffery.

Edited by denverappraiser, 03 November 2011 - 03:39 PM.

[barry]

The bottom line is that IMO, you need to be protected and know what you're buying before you buy it. The only way you will achieve this is by either working out an arrangement with the jeweler to have the diamond sent to a reputable diamond grading lab (also consider the AGS diamond grading lab in Las Vegas-their turnaround time might be faster) or sent to an Independent appraiser so that you receive accurate full disclosure of the diamonds properties.

We don't want you to come back to this forum days, week, or months from now post-purchase with a tale of woe that the diamond was not as described. For example, do you know whether this diamond has been clarity enhanced? Quite possibly the jeweler doesn't either know.