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Price Changes In The Last Few Years??


Rooski
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Hello,

 

I'm considering purchasing a particular diamond. It's a round brilliant, .70, VS1, color F. Based on the proportions, I think it may only be considered in the "good" cut range. It's very pretty, and under 10x, It's extremely clean. It has an EGL cert that states an estimated retail replacement value of about $6,200.00. The stores discounted selling price is based on their standard "percentage off retail" price.

 

The EGL cert is dated 2001.

 

After much comparison to other diamonds of similar size and quality, this estimated value seems quite high, to me. My question is, how do today's prices for this class of diamond compare to the prices in 2001? I understand that because of demand, price fluctuations vary between size and quality classes, and it kinda seems to me that this diamond may be priced, based on an inflated retail value, when comparing to today's market.

 

What do you guys think?

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I can think of no marketplace where an EGL graded 0.70 F/VS1 would have traded for $6,200 in 2001. I would ignore that value conclusion in it's entirety.

 

In a modern marketplace, you can use the tool at the top of the page called ‘find online jeweler’ to look up similar stones offered for sale here. These are all firm offers of stones for sale by various dealers who advertise here. Even if you have no intention to shop online, this gives a pretty good benchmark for comparing prices.

 

Neil

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Great. I just purchased an EGL graded diamond.

 

EGL grading doesn't mean that it's wrong. The diamond is what it is. EGL has a reputation for inflating the descriptions a bit but this really has no effect on whether you have a lovely diamond or not.

 

Neil

 

 

????

 

Dead wrong.

 

It means that when compared to GIA or AGS, the best, most stringent and accurate diamond grading labs extant, that EGL color-clarity grading is off by 1-2 grades. Consequently, consumers are paying MORE for LESS.

 

Lovely? Possibly. Accurately graded and priced? Definitely not.

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Barry,

 

I have seen correctly graded EGL stones, even from EGL-Israel (the lab with the worst reputation to be using the EGL name).

 

Whether it’s sensibly priced depends on what it is and how much is paid. EGL graded stones are rarely priced the same as GIA or AGS graded stones that report superficially similar data.

 

Neil

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Barry,

 

I have seen correctly graded EGL stones, even from EGL-Israel (the lab with the worst reputation to be using the EGL name).

 

Neil

 

They are nowhere as accurate, stringent, or consistent as GIA or AGS.

 

Consumers don't want to be caught in a color-clarity Russian Roulette with their diamond purchases and wonder if their EGL grader actually got it right.

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Great. I just purchased an EGL graded diamond.

 

EGL grading doesn't mean that it's wrong. The diamond is what it is. EGL has a reputation for inflating the descriptions a bit but this really has no effect on whether you have a lovely diamond or not.

 

Neil

 

Go back and reread what I said - the post that you called 'dead wrong'. This was in response to a customer who ALREADY BOUGHT an EGL graded stone and now is second guessing whether they made a wise purchase. Maybe they did, maybe the didn't. We don't know, but the fact that it was EGL graded, the ONLY thing we actually know about the subject stone does not, by itself, mean that they got a bad deal.

 

Neil

Edited by denverappraiser
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Thanks for the quick responses, guys! I do appreciate it, and I didn't mean to start a debate about EGL labs.

 

Anyways, I ended up settling on a different loose stone from the same source. This one is a round .71, E color, VS1 and it's absolutely gorgeous! Very brilliant and lots of fire! I spent quite a bit of time with the 10x loop, from all angles, trying to find the flaws, but my untrained eyes could not find any. This one is also EGL certified (with girdle inscription) and was a better deal then the other one, I was considering. Cost was $3700 (with free 2mm ring and mounting) and a lifetime free replacement, if it gets damaged, and can be traded in with full "price paid" value towards a future upgrade. Appraisal is at $6800 on this one.

 

I feel I got a fair deal with this one. And yes, Denverappraiser, I agree with your statement. This IS a very lovely diamond, and the cert and money spent seem to mean nothing when gazing into it.

 

Thanks again, guys, and I'll keep using this forum to learn more stuff!

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Rooski,

 

Congratulations.

 

Don’t use that appraisal for insurance purposes or you’ll end up paying a lot more for you coverage than you need to. If you file a claim, the company will probably choose an option to replace with like kind and quality, which means that they will buy you a new ring instead of writing you a check for the face value of the policy. The companies really do hire some pretty savvy shoppers and they really do know what things cost.

 

Neil

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Rooski;

 

Glad to hear you got a diamond you're happy with. That is the bottom line.

 

Neil;

 

Insofar as EGL grading is concerned, the fact is that they are not on the same accurate and consistent level as GIA. Diamantaires know this and send their important stones to GIA. The poster above who is second guessing himself on buying EGL has a very valid concern. To say that "EGL grading doesn't mean that it's wrong" is misleading and does consumers who come here a disservice.

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The poster above who is second guessing himself on buying EGL has a very valid concern. To say that "EGL grading doesn't mean that it's wrong" is misleading and does consumers who come here a disservice.

 

Received my EGL graded ring yesterday and it is stunning. I couldn't be happier. The local jeweler I took it to agreed as well.

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Well, I'll tell you what. I first started out looking for and comparing 1ct SI1's. I was sure finding, what seemed to me, a significant difference in the quantity and size of internal flaws between different SI1's, regardless of where the certs were from. This seemed to be store dependent. This is one reason I chose the store I did. Their diamonds appeared to be the cleanest within a specific clarity rating. And no, this shop does not sell enhanced stones.

 

Am I imagining things, or can there really be a very noticable difference within a given clarity rating?

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Not everyone uses these terms in the same ways. That’s the root of the lab problem discussed above. One graders idea of an SI1 can be another graders idea of a VS2 or or SI2, maybe even I1. The range is pretty extreme and for some reason the descrepancies rarely seem to go in the direction you were hoping for.

 

Neil

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Not everyone uses these terms in the same ways. That’s the root of the lab problem discussed above. One graders idea of an SI1 can be another graders idea of a VS2 or or SI2, maybe even I1. The range is pretty extreme and for some reason the descrepancies rarely seem to go in the direction you were hoping for.

 

Neil

 

Very true for the lower tier grading labs such as the EGL's and IGI. These misgrades cost consumers money.

Edited by barry
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Not everyone uses these terms in the same ways. That’s the root of the lab problem discussed above. One graders idea of an SI1 can be another graders idea of a VS2 or or SI2, maybe even I1. The range is pretty extreme and for some reason the descrepancies rarely seem to go in the direction you were hoping for.

 

Neil

 

Very true for the lower tier grading labs such as the EGL's and IGI. These misgrades cost consumers money.

 

 

Well, if this is true, then I'm sure glad I took the time to do my homework before purchasing. I don't mind I bought an EGL graded stone, since I was able to inspect it and compare it side by side with other stones, before buying. Would I buy another EGL? Yes, as long as I can see it, first.

 

I suppose if I were going to buy online, I would stick with one of the more respected labs, just to be safe. Although, I think I may never have the urge to buy a diamond online. Regardless of specs, I prefer a certain look in a diamond. Yeah, even though there's various "end all" specs for the perfect cut, it doesn't guarentee I'll like it.

 

Barry, You really seem to be against these "lower tier" labs. Is your opinion mostly based on what you've heard and read, in the past, or do you have some first hand experience (horror stories?) with these alleged grading discrepencies? Have you ever came across any AIG or AGS reports you felt were too soft or inaccurate?

 

Thanks!

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I suppose if I were going to buy online, I would stick with one of the more respected labs, just to be safe. Although, I think I may never have the urge to buy a diamond online. Regardless of specs, I prefer a certain look in a diamond. Yeah, even though there's various "end all" specs for the perfect cut, it doesn't guarentee I'll like it.

 

Thanks!

 

The two big labs, GIA and AGS both have a cut grading scale for round diamonds and there’s a moderate amount of overlap between them in which would receive their top grades but neither one of them would describe their rankings showing as a perfect cut or an ‘end all’ definition of beauty. On the margins, they decidedly disagree.

 

Never do an online (or B&M) deal that is finalized before you can personally inspect the stone, look at it in different lighting environments, and show it to your friends, relatives, your appraiser and anyone else whose opinion you value to decide if it's exactly the right one for you. Stones with identical rankings can look very different from one another and there is far from universal agreement about what look is 'best'.

 

Neil

Edited by denverappraiser
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Rooski;

 

I'm in this diamond business for 30 years.

 

I guess you could consider this "some first hand experience". :D

 

Barry,

 

Yes, that does say alot, but in all these years, have you seen many AIG or AGS reports that you strongly disagreed with?

 

Thanks!

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Rooski;

 

I'm in this diamond business for 30 years.

 

I guess you could consider this "some first hand experience". :D

 

Barry,

 

Yes, that does say alot, but in all these years, have you seen many AIG or AGS reports that you strongly disagreed with?

 

Thanks!

 

No.

 

It's "GIA", BTW, not "AIG".

Edited by barry
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Rooski;

 

I'm in this diamond business for 30 years.

 

I guess you could consider this "some first hand experience". :lol:

 

Barry,

 

Yes, that does say alot, but in all these years, have you seen many AIG or AGS reports that you strongly disagreed with?

 

Thanks!

 

No.

 

It's "GIA", BTW, not "AIG".

 

 

:D !cixelsyd eb tsum I !dab yM !spoO

Edited by Rooski
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