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Stuck Between A Rock & A Hard Place (no Pun Intended Ha)


samz
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Hi, i'm new to this forum so hello to everyone :)

 

I am in a tough position and am not sure what I should do. I have a few options, but i'm basically looking for some help with purchasing a radiant cut diamond.

 

I am currently speaking to a jewelry store where I am being offered the following:

 

- 1.11ct

- Style: Square radiant cut

- Color: H

- Clarity: VS1

- Polish: Very good

- Symmetry: Very good

- Report/cert: EGL

 

I'm going through a friend so I (believe) i'm getting a good deal. The stone is crystal clear and beautiful. It came from Belgium and he will set it in a 18K white gold band with (7) square diamonds on each side (same type as described above) .

 

My main concern is that the diamond is EGL certified. Researching through here and the internet, it doesn't make me feel comfortable in purchasing a diamond with an EGL report. Should I ask him to send it to GIA for certification?

 

The price i'm getting is in the range of $4,700-$5,000 (with, w/o tax). If this still seems like a good deal, should I bother with the GIA report?

 

Looking at other posts i'm not sure I provided enough information to make a proper assessment, but I do not have a copy of the EGL report yet, so that's all the information I have. Thank you very much for your time! :D

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Hi Samz

The report only describes the diamond- it does not make it a good diamond, or a bad diamond.

The problem with non GIA reports is that many are inaccurate- therefore, the industry relies only on GIA ( and AGS, but that's not relevant on an Radiant Cut)

 

Sending it off to GIA makes little sense.

If you want a diamond with a GIA report, that's what you should look at.

It's also true that dealers know that to get the highest price for their best stones, they are going to need the GIA- which means that many diamonds represented without GIA, or with lesser reports- are the less desirable ones......

 

Still on a stone the size and price of the one you're looking at, the EGL report may pose no problem at all- especially if you trust the seller.

 

Since you're buying in a retail walk in store- even though it's a friend's store- the pricing structure is different ( probably higher) than you'll find from the best sellers on the web.

 

Due to legitimate infastrucutre differences, in general, a sharp seller on the web can sell at a price below that of a store.

Still many people are willing to pay the difference for the extra security they feel when buying from a store.

 

If we're talking about a $25,000 diamond, the difference can be substantial- many thousands of dollars...it's less so on a $5000 diamond.

 

To give you some idea of the difference, I checked our site for comparison- we are offering a 1.02 D/SI1 WITH a GIA report for $5699

 

Based on my market experience, the GIA D/SI1 could be worth anywhere from 25-50% more than a diamond called H/VS1 by a non GIA lab.

 

 

Hope this helps!

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You nailed the problem. Do a search of ‘find online jeweler’ at the top of the page. Even if you’ve got no intention of shopping online this can be a useful shopping tool and we won’t tell. 1.1-1.15/H/VS1 produces 2 results for $4k and $4400, both GIA. So far it sounds like you’re doing ok. Now expand the search category to H-I/VS1-VS2, a single grade variation on each. That gets you about 30 results that range from $2800-over $5k and they are still mostly GIA graded.

 

So what do we conclude?

1) Accuracy of grading matters

2) There’s more to Radiants than appears on the lab reports.

 

If you’re not prepared to look at a Radiant cut and evaluate if it’s good/better/worse than the alternatives you’re considering, you are buying blind. You can bet that the seller (or at least their supplier), knows this so you’re putting your faith in them to tell you the difference. Ask ‘em. If they don’t provide a straight answer and can’t provide a defense of WHY you should be buying from them, shop with someone who can. There are tons of competitors in this business. If you’ve got a decent independent appraiser in your neighborhood, consider hiring them to assist in evaluating the stone. If there’s none in your hometown, there are several of us who do this on a national basis that can help.

 

Neil

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Radiants, as all fancy shape diamonds, are impossible to evaluate based only on the lab report. The face up beauty and light performance are determined by the shape outline, facet alignments, and facet angle interactions between the Crown, Pavillion, and minor facets.

 

Two Radiant cut diamonds with the very same "numbers" and Polish-Symmetry grades can look radically different.

 

If you're shopping at a B&M jeweler, compare as many radiants as possible. Most retail jewelers will have a limited supply on hand and will be reluctant to call in a large number from their suppliers for your examination. You might then have to canvass several jewelers.

 

if you're shopping on the Internet, you have got to "see" the diamond or at the very least work with a Vendor that will call it in, "see" it for you and supply you with photos.

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First, i'd like to thank you all for your comments, it's most appreciated!

 

I had placed a refundable deposit on the stone last week because he wanted to hold it, so I could think about it. Now the price I gave in my first post is for the finished product (main diamond and band w/diamonds).

 

Any suggestions on what questions I should ask him? From reading your replies, i'm going to tell him that I want to see a wider selection of stones.

 

Regarding the independent appraiser, I would just bring him to the store? and ask him to examine the stone for value/cost? or ....?

 

Now, as a non-experienced diamond buyer, looking at the diamond;

- I could look right into the center of the diamond and it was very clear and no visible inclusions. (I went to the NYC diamond district, as well as zales and all those 'fine' stores hah, so i've seen bad cut/bad inclusion diamonds.. and this one certainly isn't.

 

- It was reflecting light and sparkling in lit area's as well as dim area's in the shop.

 

- It was very clean cut and white

 

I'm going to see him either Tuesday/Wednesday the latest, so if you were in my position... What would you recommend me to do? He's the best friend of a good friend I know and said he'll take care of me. He told me that he went through a lot of stones to find me a nice/clear good cut diamond that was in my budget (is this salesmanship or friend!?). This is becoming quite a project heh ;) thank you again! and any thoughts are much appreciated! Take care :)

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