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Am I getting a good deal?


Guest myranda
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Guest myranda

I am looking at a diamond which will come with an EGL report (the diamond dealer is obtaining one), it is suppose to be 4.21 carat, H color and VS1, the table is 54% and the depth is 60% the price which we've negotiated is $46,000, but I will not purchase until the actual report comes back and I will take the diamond with my jeweler to an independent appraiser to reverify the diamond. Please advise if this price is good, I've been looking around at other shops and they've all seemed to vary greatly. Thank you for your time and expertise.

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Myranda,

 

Why EGL?

 

This selection is a significant red flag. Assuming it's correctly graded, it's worth considerably more to the dealer (and consequently to you) if it has GIA or AGS documentation. Play with the database under 'find online jeweler' at the top of the page and you'll see what I mean. Search for a 4.0-5.0 H/VS1 and look at the range of offers. The difference is in the tens of thousands of dollars. The fees from GIA are only a few hundred dollars more than EGL-USA so it's not about the fees, which is why I ask about the reason for choosing EGL for this assignment. The obvious conclusion is that the seller is hoping that EGL will call it something that it's not. Do some homework on the reputations of the various labs involving this issue. It's been discussed quite a bit here on the forum.

 

Do the same search looking for 4.0-5.0 I/VS2 and notice what it does to the prices on the stones being offered.

 

If your stone is correctly graded and there are no other serious problems (like damage or major problems withe the cutting), then you've got probably got a pretty good deal here. I suggest you call up your dealer and counteroffer that they should send the stone to GIA, not EGL. If they tell you it costs too much, agree to pay extra to cover the fees as long as it comes back as correctly described. If they refuse then you've learned something about their faith in the grading and, if the dealer doesn't believe it, why should you?

 

Here's the GIA fee structure if you're worried about what you're agreeing to. http://www.gia.edu/gemtradelab/31548/fees.cfm

 

The best deal is not necessarily the one that promises the lowest price. It's the one where you get what you want for the lowest price. Unfortunately, these are not always the same.

 

Neil

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