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Help, am I paying too much ?


Jsilk
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So I recently went in to Kay's, I know not the best but I was there so I looked. The ring I like will be on sale in a couple of week from 4200 to 3599. I was eagerly anticipating purchasing it but found out that is is GSI certified. From what o read that's not the best and more than likely I'm over paying for a diamond that was loosely graded. Please help me decide if it's worth it. 

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This is a very difficult question to answer as there are so many factors that affect a diamond's "worth". 

Breaking it down, similar stones with GIA grading reports, can be found on the Diamond Finder for $600 to $900.  The setting itself if not fully described but as the center is relatively small, my educated guess is that the 38 stones described on the report measure 1mm or less which would bring the total weight to around 0.2cts + center.  This makes the mounting cost, including small stones, roughly $1200 to $1500, assuming the descriptions are accurate (big assumption).  Based on this, I think you can do better for the money. 

Edited by LaurentGeorge
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+1 to Laurent's observations. In addition I would say that it's unlikely that the GSI report is correct on both colour and clarity, which could bring a fair price for the centre closer to the lower end of the range.

The one advantage that this ring has compared to anything you source online is that you can see it, and you can judge the cut quality of the centre stone with relative ease; be careful to choose the right vendor when buying online: can they provide you with the information you need to make a sensible choice, and will they stand behind their product with a good return policy?

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GSI says 1.03ct total weight, so that leaves 0.58 for the side stones.  They do these things right at the manufacturer so they’re pretty good about weights.

On a 0.45 emerald cut, a few grades realistically only affect the price by a couple of hundred dollars, and GSI isn’t actually all that bad.  The issue is going to be what you want out of this deal.  Nearly every jeweler has or can make a ring that looks a lot like that.  It shouldn’t be hard to find a better price, possibly even quite a bit better, but low low prices are rarely what people are looking for at Kays.  They finance things, and they cheerfully accept people with bad credit (with very expensive terms by the way).  If that’s what you’re looking for, most jewelers won't/can't play.  FWIW, I specifically recommend AGAINST doing this. Don’t go into debt for a ring.

Davide.  Kays is Signet.  That’s a big big outfit.  They own both James Allen and Jareds for example.  Their return policy and warranty leave something to be desired, but they’re not so bad on these issues either.

Edited by denverappraiser
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Neil - absolutely. I was trying to make the point that if Jsilk moves to looking at online vendors because it's cheaper, not all online vendors are equal, and two differentiating factors are levels of information available and general T&C including returns. Not specifically a point for or against Kays.

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