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Hi,

GIA is one of the most respectable Gem labe in the world,but you have to look at stone to judge it's real beauty. I would also consider a diamond if it is certified by Gem Scan in Toronto.

But ultimately ,you have to trust the knowledge of the person who is selling you this diamond.

Give me more specs on the stone and may be I can help.

Mitul

GIA Diamonds Graduate.

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I think I have narrowed down the selection. How much should I be paying for a round brillliant cut natural diamond, 1.18ct, SI-1, E colour, Ideal cut (in toronto)

 

I like Gemscan personally, I think they're a very reputable lab and have served the Canadian market very well. I used to work in the downtown TO jewelry district and lived in the area for a while. But if you want an ideal cut round, I'd stick with an AGS 000, or a GIA EX/EX/EX. You'll pay a premium unfortunately due to the expense of shipping to the US for grading, shipping back, and duties, excise, etc, that's why often times Toronto jewelers just use Gemscan, EGL-USA (Toronto/Vancouver), HRD, or even IGI, but they still send their biggest/best stones to the US for grading at GIA or AGS.

 

I don't know how it is now to be honest. They've been phasing out the 10% excise tax on luxury goods 2% a year since I left 4 years ago I believe, not sure if it's gone now? In the past, this made it very tough for Canadian dealers to compete with Americans because they were at a 10% disadvantage for pricing. Duties are still a pain in the ass I assume, plus brokerage fees, so there is a somewhat high cost of doing business unfortunately for Canadians who wish to get their stones graded in the US. And actually that was one of the motivating factors for me leaving Canada at the time.

 

But the good news for you is prices for diamonds have actually gone down or stayed flat in terms of CAD$ for the past year... I think in just 2 years the US dollar has lost something like 30% of it's value against the Canadian dollar. And with the disappearing excise tax, and the decrease in GST, it's a good time to be a buyer of diamonds if you're Canadian.

 

Anyhow I still say get yourself a GIA EX/EX/EX or AGS000 for a stone that size/quality. Best of luck to you.

Edited by Adylon
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