faz

Bought 1Ct Diamond Studs Locally, Wondering If I Did Well?

8 posts in this topic

Hello all, and thank you in advance for your feedback.

 

For our 21st anniversary, I purchased a pair of 1ct each diamond studs for my wife from the local Shane Co. One of the reasons is their money back guarantee and upgrade eligibility.

 

We are not that rich so this is a huge purchase for us, and basically trying to get a good bang for the buck.  The diamonds in the studs look good and we are happy overall, but given my total lack of knowledge in the world of diamonds, there is always in the back of my mind the lingering thought of whether it was a good deal (not a bargain, I am not looking for that, but a good deal overall, considering the locality of the store and our ability to go see the diamond before purchase, etc.)

 

I am hoping the below certificates will provide enough info on the two diamonds.   I paid around $8k for the two diamonds, (+ tax was additional) which was the 'internet' advertised price - lower than the marked price in the store - for the diamonds.

 

 

Would there be other sources or locations where I can get a better diamond for the same price range??

 

Again I do appreciate the fact that there is a local store that I can go to (Shane Co.) that if I have any issues/problems, they can handle, etc., so there is obviously some additional mark up due to that convenience, and I do not have a problem with it.  I am just worried that I may have overpaid $2k or more for the same thing that I could easily get from another source.

 

Any advice on this would be appreciated.

 

Below are the links to GSI certificates (top link being the picture of the diamond and 360 view, second being the direct link to the pdf.)

 

http://wg.gemscience.net/VR/ZoomVideo.aspx?p=16812900220

http://wg.gemscience.net/PDF/D16812900220.AQAUJHFDYY.pdf

 

 

http://wg.gemscience.net/VR/ZoomVideo.aspx?p=16812900208

http://wg.gemscience.net/PDF/D16812900208.FWCVGGNVIM.pdf

Edited by faz

Share this post


Link to post
Share on other sites

Congratulations to you and your wife for your 21st anniversary! Many happy returns!

 

Three facts:

 

1. We (and you) have no idea what you bought in terms of clarity and colour. Reports from GSI are not known for their reliability, and the difference in fair price between I1 and I2 is huge, as can be the difference between G and J (all well within the realm of possibility). If the diamonds are indeed G/I1, it may not be a fantastic price, but it's relatively fair (considering location etc.). If they are G/I2... it's an almost definite rip-off; if they are I1 but of colour lower than I, it's a very likely rip-off.

 

2. These two diamonds face more like 0.90, which is not surprising since one comes out with a 6% girdle and the other comes out at 7% (a well proportioned diamond girdle is between 2 and 4%). What is more surprising is that you paid full-1-carat price (and over) respect to true "internet" prices. There are plenty of better cut, GIA-graded G/I1 1 carat diamonds for $3000 each or less (visibility of inclusion is the big question here, and we don't know about those, but we know that you like "yours"). 

 

3. Their cut grade estimated through the GIA facetware estimator (http://www.gia.edu/facetware) is at best "Good" (the GSI VG = GIA G - just, and the GSI G = GIA Fair). This is not "good" at all, since it places them in about the bottom 5% of diamonds for cut (out of those that are graded by GIA).

 

Could you do better by buying somewhere else? In terms of price and quality of the diamonds no doubt. In terms of your ability to see the diamonds before you commit, too (any decent online vendor has a multi-week return period). In terms of being able to shop locally and choose from several pairs physically in front of your eyes, possibly not, but even then it depends on where you are... many excellent "internet" retailers are normal, physical jewellery shops that advertise online to expand their reach.

Share this post


Link to post
Share on other sites

Thank you for your detailed information. I was undre some time pressure so didn't have time to do my research before hand.

 

I am looking at blue niles website and see that I can get much better GIA rated diamonds for similar price ($8700 tax included which I spent) from them. On paper at least, they look better. Not sure how they might be in person. Any feedback on other people's experiences with them? Or any other online retailer?

 

I am taking a bit comfort in knowing Shane co has 60 day return policy ( which I most certainly won't take 60 days to return if I decide to go that route, not fair to them), but I surely expect some pressure from them before accepting a return so the info above definitely helps. I really appreciate you taking the time to write this. Thank you.

Edited by faz

Share this post


Link to post
Share on other sites

Blue Nile is a fine retailer. If you are looking at SI2/I1 diamonds, you may also want to consider firms that inspect the goods they deliver (and/or provide you with photographs and videos of them), so that you minimise the chances of getting something with highly visible inclusions.

Share this post


Link to post
Share on other sites

Thank you for all the info and guidance. I have returned the studs back to the retailer and the return process was very easy and no pressure.

 

I am now starting a search on similar studs , around 1 Ct each, for the total price of 8-9k. On another forum, a few people are talking very highly of a jewelry store in New York (I.D. Jewelers) that I might try. Any other well known jewlers that anyone here can suggest, would be appreciated.

 

Thanks again for all your help and guidance.

Share this post


Link to post
Share on other sites

Davide is too much of a gentleman to point this out, but he's a representative of a competitive dealer, in New York no less.  If you've found him helpful, check out the links at the bottom of any one of his posts.  

Edited by denverappraiser

Share this post


Link to post
Share on other sites

Thank you. Viewing these posts on my phone, I do not see any signatures so I might have missed that bit of information. I have absolutely found his posts of a lot of value I will definitely check the links For some reason I remember seeing location has a European country but maybe that's was a different forum? Thanks for pointing this out, and I will definitely check the links and get in touch as needed.

Share this post


Link to post
Share on other sites

I live in Switzerland, but the business I represent on this forum is in NY. Link to website: http://www.diamondsbylauren.com

 

Bear in mind that not everything we have (or can get) is on the website, so give us a call (1-877-952-8736/ +1-212-382-3770)

 

Thank you both for the endorsement/trust!

Edited by davidelevi

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!


Register a new account

Sign in

Already have an account? Sign in here.


Sign In Now