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Help With Diamond International


Lycoris
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I think I made a big mistake! :unsure: I lost myself in the shopping experience in buying a loose Diamond from Diamonds International. During a recent cruise I bought a pair of Diamond earrings in their store in Belize. $6,000. for the 88 cut 1.34 carat set with GIA papers and a estimate. I decided to trade them in at the Costa Maya store for a 1.05 carat , 88 cut, VS-1, G-H, loose Diamond for $7000.00. And had it mounted in a bezel setting Platinum ring with 30 baguette .81 carat, G-H, VS 1 side diamonds for another $2,000.00. I received the estimate but when I asked for the GIA certificate he said they had it but couldn't find it and when they did they would mail it to me. I was worried when I got home and reported this to their customer service and faxed them all I had on the Diamond. She wrote me a email saying the person that sold it to me no longer works there and I should receive the GIA Certificate in 3-4 weeks. A month later she calls to say they still haven't found them and to fax her my receipt again.I have taken my ring to a appraiser and she did verify that all looked good and even though the Diamond is a bezel setting and she couldn't get a good measurement of it, the ring has a estimated value at $18,180.00. So I am not really worried about being ripped off I am more worried about it not being as valuable without the GIA papers.Should I be worried? As much as I love the ring and the Diamond should I push to return the ring and get my money back? What questions should I ask customer service to get the ball rolling? Is there a way this could be done after the purchase of a Diamond? Sorry this is so long, but I wanted to get in all the details.Lycoris

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DI is generally an expensive store to be shopping at but they do set up shop in some lovely places and that adds some value to the whole purchase. Tourist resorts are rarely great bargains but there are other reasons to shop there. It sounds like you appraiser thinks you got what was sold to you but the lack of paperwork is a serious issue, especially if you were promised a GIA graded stone. My observation is that they seem to prefer to have their stones grated by other labs, especially EGL-USA and EGL International. GIA will NEVER issue a split color grade like you’ve described and the EGL’s will only do it on a stone that is graded in the mounting.

 

If you were promised (in writing) a GIA grading, insist that you get it. Don’t accept EGL, IGI, EGL-USA or a dealer generated report as a substitute. GIA graded stones go for significantly more than stones from either EGL reporting the same results and all of these go for more than stone that have in-house grading from the dealer. If the stone really was graded by GIA and just the paperwork has been lost, GIA will reissue the document for a nominal fee if DI can simply provide the certificate number and this would not require a reinspection of the stone. If it wasn’t, DI can have one of their jewelers carefully take the stone out of the bezel, overnight it to GIA for grading, repair the bezel and reset it when it returns. A pain to be sure and GIA can be a bit slow at times but probably worth the trouble. Naturally, you should not be charged for this and if the grading is something different from what you were told in your sales presentation, you would be entitled to a refund if you wanted it.

 

Neil

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Thank you Neil for the quick reply. Nice to know someone is willing to help novice like me. I will keep all that in mind when talking to costumer service. Unfortunately I never got anything in writing. I do believe I asked for it, but got the run around. By then we were going to be late for the ship, and I was just to happy to have the ring of my dreams on my hand. I didn't think to be worried till I got home, because I had no problems at their store in Belize. I had it all in my hand when I left.I have sent them yet another E-mail. Just have to wait for their response. P. S. the grading was by the appraiser. The store said it was a 88 cut,1.05, H, SI. I guess it might have a bit pricey but its so hard to tell when you can't seem to find any 88 cut diamonds online to compare it to.

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It’s not entirely fair to compare a jewelry store in a resort or similar high rent place with the discount internet dealers based on prices but there are quite a few ways to get similar offers. There are quite a number of brands available with specialty facet designs that go well over a hundred if you want. Popular ones include Solasfera and Leo. Try searching for those brands for a baseline if you really want to see what a comparable Internet purchase would have cost you but it sounds like you will be undermining your own happiness to be doing this. Many jewelers, both online and off, sell this sort of thing. You paid a full island retail price and are probably too late to make a return. As you point out, it’s the ring of your dreams. Worse things could happen.

 

I seriously doubt that a GIA report exists, which is why they haven’t produced it. There’s probably not even an EGL. If you don’t have anything in writing promising this, it’s going to be hard to get them to provide one because it won’t be free to them to do it and, if GIA says something different from what the salesperson told you, it’s going to lead to a fight. This is reasonably likely and they’ve been down this road before. They won’t want to go there unless they are contractually obligated to do so. As a consumer who isn’t planning on selling it and who is isn't interested in returning it, I don’t think it’s worth your money to pursue this yourself. No money – less enjoyment of your ring – shipping, appraisal, jeweler & lab fees. This sounds like a lose/lose/lose deal.

 

You might want to talk to your appraiser and your insurance agent about that value conclusion and how your insurance company will handle a claim before you submit the report as the basis of a policy. You may be setting yourself up to pay significantly higher insurance premiums than are necessary for the coverage you’ll be receiving. If you have a replacement type policy, which is most, you are doing yourself no favors by submitting an inflated appraisal to the underwriter. If they can, they will buy the replacement through one of their own sources to save money for their stockholders and most insurance adjusters are pretty savvy shoppers. Buying coverage significantly above what it will really cost them to do a replacement is a waste of money.

 

Neil

Edited by denverappraiser
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