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Help With This Diamond?


davidbise
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I am new to the world of diamonds and never in my life owned one but now I want to really treat myself to a nice dress ring in a solitaire. I have looked in all the Jewelry stores in the area and didnt see anything I liked, then happened by the jewelry counter at Sams and decided to take a peek. Well, I saw this ring and instantly fell in love with it! It is a .71 CT, H1,(or could it be HI?), and I1 set in Palladium costing $2,600 but no certification. The Clerk didnt know the cut and I have no idea either nor did she have anything to weigh the palladium so I could not get the cost per ounce. I have looked online for the cost of similar diamonds and have come up with an average of $2000 for the diamond. Is this correct???? I have been told by a couple of friends that Sams only has a mark up of 6% on their jewelry and that you cant get them down on the price. I would really appreciate any advice. I am in Melbourne Fl. but I have not been to Orlando yet but plan on going this week to the stores there.

Edited by davidbise
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Hi David,

Welcome to the world of diamonds!

The grade of the stone you looked at, with no GIA report, is in question. That has a large impact on the price.

That in itself makes even a rough guess impossible.

Palladium is well thought of, but white gold has stood the test of time, and may be a better choice for you.

Still, the best settings are NOT going to be sold by weight.

 

As far as any company working on a 6% markup- that sounds very much like an "Urban Legend"

 

I would start by doing a bit of shopping online- you'll find a lot of sites offering diamonds with GIA reports to give you an idea.

 

Do you have aphoto of the ring you liked- or maybe you can find one similar and show us?

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Hi David,

Welcome to the world of diamonds!

The grade of the stone you looked at, with no GIA report, is in question. That has a large impact on the price.

That in itself makes even a rough guess impossible.

Palladium is well thought of, but white gold has stood the test of time, and may be a better choice for you.

Still, the best settings are NOT going to be sold by weight.

 

As far as any company working on a 6% markup- that sounds very much like an "Urban Legend"

 

I would start by doing a bit of shopping online- you'll find a lot of sites offering diamonds with GIA reports to give you an idea.

 

Do you have aphoto of the ring you liked- or maybe you can find one similar and show us?

 

 

 

Thanks. I will try to get a picture of it.

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Hi David,

Welcome to the world of diamonds!

The grade of the stone you looked at, with no GIA report, is in question. That has a large impact on the price.

That in itself makes even a rough guess impossible.

Palladium is well thought of, but white gold has stood the test of time, and may be a better choice for you.

Still, the best settings are NOT going to be sold by weight.

 

As far as any company working on a 6% markup- that sounds very much like an "Urban Legend"

 

I would start by doing a bit of shopping online- you'll find a lot of sites offering diamonds with GIA reports to give you an idea.

 

Do you have aphoto of the ring you liked- or maybe you can find one similar and show us?

 

 

 

Thanks. I will try to get a picture of it.

 

Update on my post. While in Orlando today I came across a nice 1 ct. Gents ring from J.B. Robinson which I brought home until I can find if I got a good deal on. It was originally $6,000 and they were marking it down 60% off along with a few others that were there for a while and hadnt sold. I got it for $2400 with a nice 14K setting. Again, no certification and all they wrote on my papers that it was SI1-2, , HI, Color I. I have been looking at a lot of diamonds lately so I know its not an I1-2 and looks great from the magnification. I think I will take it to a couple of places this week to get some opinions. I will see if I can get the pic posted here as well. Thanks again.

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Hi David,

One thing which we can be reasonably sure of- The place you bought the ring is not going to sell their $6000 diamond for $2400.

They might take a $2700 ring, mark it up to $6000, then put it on special for $2400.

We can also reasonably assume the diamond they sold you for $2400 in a setting is not 1.00carat, well cut I color and Si clarity.

 

That does not mean it's not a nice ring- it does not mean it's not worth the money.

Edited by diamondsbylauren
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Hi David,

One thing which we can be reasonably sure of- The place you bought the ring is not going to sell their $6000 diamond for $2400.

They might take a $2700 ring, mark it up to $6000, then put it on special for $2400.

We can also reasonably assume the diamond they sold you for $2400 in a setting is not 1.00carat, well cut I color and Si clarity.

 

That does not mean it's not a nice ring- it does not mean it's not worth the money.

 

 

You are exactly right and thanks very much! I took it to work with me today and showed it to a co-worker who is in the know and asked me why I didnt come to her first but I didnt know. She told me I could go with her to what is known in our area as the best Jewelry Store with whom the Owner and she grew up together and still are tight where she is getting all her Jewelry. She told me to pick what I like and that I would be shocked at what it will cost me! I have been looking online and studying the 4 Cs charts so I now have a good idea so I will let you know!

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You are exactly right and thanks very much! I took it to work with me today and showed it to a co-worker who is in the know and asked me why I didnt come to her first but I didnt know. She told me I could go with her to what is known in our area as the best Jewelry Store with whom the Owner and she grew up together and still are tight where she is getting all her Jewelry. She told me to pick what I like and that I would be shocked at what it will cost me! I have been looking online and studying the 4 Cs charts so I now have a good idea so I will let you know!

 

Please let us know what you see. If you'd like to write down as much info as you can we'll be happy to provide what input we can - but more importantly, since you'll be seeing them live, be sure to examine any diamonds in several lighting conditions, not just the jewelry store's lighting. Have fun.

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Sam’s Club is a good place to get reasonably good commodity style items. That’s a compliment of sorts if you’re buying detergent or printer paper but it can be a bit of a problem when we’re talking about diamonds. Not everyone has the same idea of what H/I means or even I-1 means. Someone mined that stone, someone else cut it and sold it to Sam’s. You can bet that every one of these people was highly skilled and knew exactly what they were up to, that they were trying to benefit their own firm as much as possible and that this was part of an ongoing chain of transactions involving tens of thousands of stones sort of like it. A balancing act happens that leads to some important concerns for the end consumer. You can count that Sam’s won’t be cheating you in that someone called it H/I and it’s probably reasonably close to correct but consider the difference. Use the tool at the top of the page to search for an online dealer and look for stones with specs around your description. Don’t worry if you have no intention of actually buying anything online, this is a training exercise. Now change the color from H to I leaving everything else alone. Notice what it does to the typical prices. This is usually about 10%. Now do the same thing with J. That one results in about 15%. That means that a ‘weak I’ when compared to a strong J will differ by about 25% if everything else is equal. Now do the same thing with cutting. Search for a stone and sort for price by clicking on the column header. Notice the range of prices from highest to lowest within a particular lab, throwing out the ones that are clearly out of whack. This will usually result in about a 50% price span of stones that look remarkably similar. That’s big money and when you add them up we’ve just identified more than half of the money as being part of grading accuracy and cutting. That pales the issue of whether the dealer is making 6% or 20%.

 

Sam’s won’t cheat you, they sell what they say they’re selling and they have a very agreeable return policy if you decide to change your mind but it’s important to pay attention to what they’re saying. They are not all the same. Somebody working in their back office called it H/I, I-1 and chose not to discuss the cutting quality. That decision, and the related choice of selling it as an ‘uncertified’ stone rather than to spend the time and money to be able to reference a credible lab is a bit of smoke and mirrors that can make a huge difference. It’s being graded by the Great and Powerful Oz. Who would question that? I would.

 

Pay attention to the man behind the curtain.

 

Neil

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