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A Few Questions From A Rookie


diamondrook
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1. Has anyone had any experience with Goldcasters in Bloomington, IN?

 

2. I have a feeling I am hearing the old "Buy now, or else" line, but I wanted to confirm with the board...The salesperson said diamonds will be getting more expensive (by around 20%) in June from various factors such as gas prices and other things I don't remember. I think he is trying to pressure me in to a sale but who knows...Does anyone have any info on this 20% spike coming up?

 

3. He also said not to judge a diamond based on the 4 C's but rather what I see in the diamond (ie what it looks like to me). He said grade reports from places like the GIA are very subjective and that they differ between certifying agencies. He said his company does not buy diamonds based on color, clarity, etc, but rather on their brilliance and eye appeal. From what I have read on here and elsewhere, this does not seem right. Does any one else have any thoughts on this?

 

Any insight would be greatly appreciated. Thanks!

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Hi Rookie,

I have no specific knowlege as the the jeweler you are referring to- so I can only answer number 2 and number 3

2) You are 100 % correct to be totally skeptical.

In terms of a supposed hike around June, he missed the boat on that one by quite a while. The fact is, prices are higher today than they were 12 months ago. It's not all bad news though, because buying something, which is increasing in value is as its own appeal.

Mentioning that there would be some specific price rise in June, is clearly a pressure sales technique.

 

3) GIA , and AGSL are the only labs dealers trust.

Since a 5.00ct D/VS1 looks very much like a 5.00E/VS2, and one is worth $75,000 more the other, these things matter a whole lot.

Now, if you're buying a $2500 diamond, obviously, it's less important. However, understanding the diamond business and explaining it in clear terms to the people that you are selling to is an important aspect of the diamond business. Generally speaking, when sellers are advocating non-GIA, or AGSL reports, there is something amiss

 

Again, I'd like to make it clear. I'm not talking about any specific jeweler.

Edited by diamondsbylauren
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1) I’ve never heard of them either but that’s no big issue. I’m a thousand miles away and there are lots of fine jewelers I’ve never heard of. Check the local BBB, check with your friends, coworkers and neighbors who may have done business with them. Check with their neighbors.

 

2) I must say, as an expert, I only WISH I could predict price spikes in advance. I would be a seriously wealthy man (even better would be if I could do that with the price of gold, a question I get asked regularly). Any sales person with this particular magic power should immediately seek alternative employment buying and selling commodities. My guess it that this isn’t a psychic sales associate but just a high-pressure sales tactic. It is possible that diamonds will go up this summer but they may not. There are some complicated dynamics involved, the biggest of which is the strength of the US dollar. If you’re looking for advice on speculating in international currencies, you might not be looking in the best place.

 

3) Diamonds are priced based on the 4C’s. I absolutely agree that you should actually look at the stone and choose one based on what appeals to you but if the price is important than the grading is important. It’s also correct that all labs are not equal and if the grading is important, the lab is important. Anyone who wants to can set up a gem lab and can give you their opinions about the grade. There are dozens of them and just because they say a stone is a particular grade doesn’t make it so. I’m with David, stick with GIA or AGSL unless the stone you are considering is so inexpensive that it doesn’t justify the lab fees.

Neil

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I appreciate the info and insight. It is comforting to know there are people out there who care enough to share their knowledge.

 

I guess what the man was trying to say was that I shouldn't base my decision solely on the grade reports. I think he was trying relay the idea that anyone can "grade" a diamond. He said he could send any diamond out to get graded at almost any specifications he wanted. I can understand what he is saying, I guess I just put more emphasis on these grading reports than I should.

 

I still have a couple of more places to check out but I what I saw at that store so far is a .72 Hearts on Fire, Ideal Cut, J, SI2 for $4950. It was a really pretty diamond, but I may want to find something bigger in the same price range.

 

I was also shown a .90 ct Ideal cut, J, SI2 for $4999 non HOF that I liked. I guess right now I am trying to figure out whether it is worth it to buy a name brand HOF smaller diamond or an equally "graded" yet larger non-name brand diamond.

 

I have also been quoted (yet not seen) a few diamonds that are "graded" higher that I want to see at another store.

 

Again thank you for all your help!

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He said he could send any diamond out to get graded at almost any specifications he wanted.

 

The key to this has to do with who he sends it to. It is definitely not the case with GIA, AGSL and many other high quality labs that maintain a solid ethical basis. The problem is that there are some sellers where this is the case and you, as a consumer, are hard pressed to tell the difference. Here's a test. If you've never heard of the lab and you don't have rock solid reason to trust their opinion, don't. Don't discount it. Don't trust it 50%. Ignore it entirely. The burden is on them to convince you that their opinions have merit, not the other way around. The default answer is no. If you not only can't find a reason to believe them but your research tells you that they lean the other direction (meaning that they are deceptive), don't just hold it against the lab, hold it against the dealer who is trying to get you to rely on the report.

 

Neil

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I guess what the man was trying to say was that I shouldn't base my decision solely on the grade reports. I think he was trying relay the idea that anyone can "grade" a diamond. He said he could send any diamond out to get graded at almost any specifications he wanted. I can understand what he is saying, I guess I just put more emphasis on these grading reports than I should.

 

I disagree- it's a long slippery slope. By framing his sales pitch in such a manner, I believe he's tipped his hand.

While it is very true that you should not base your decision solely on a lab report, the report should be an important consideration. J/SI2 is a "marginal grade"- that is to say, many sellers that have a legitimatley graded J/SI2 could send the stone to one of the lesser labs and possibly have an I/SI1 report.

 

I agree with Neil- the well known non GIA labs are not going to allow anyone to tell then what grade to put on the report- but dealers already know to expect a more lenient grade when they bypass GIA/AGS.

 

If the person telling you this stuff is in the jewelry business, we must assume they know this- which leads to the conclusion that the person telling you this has no problem using falsehoods to try and make a sale.

THAT, to me, is the most disturbing aspect of the mis-information.

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Again, I appreciate all your help and advice. What are your thoughts on Hearts on Fire diamonds in general, and specifically the one I mentioned above ".72 Hearts on Fire, Ideal Cut, J, SI2 for $4950"? Is it better to buy a HOF diamond that is smaller or a bigger (around .9 to 1 carat) non-name brand at the same price?

 

Thanks!

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Again, I appreciate all your help and advice. What are your thoughts on Hearts on Fire diamonds in general, and specifically the one I mentioned above ".72 Hearts on Fire, Ideal Cut, J, SI2 for $4950"? Is it better to buy a HOF diamond that is smaller or a bigger (around .9 to 1 carat) non-name brand at the same price?

 

Thanks!

 

Hi diamondrook HOF is a brand "name ". They have a nice product, but there are plenty of diamonds being cut to an Ideal Hearts and Arrows cut now. Some at even a higher degree of precision too.

 

As an example comparison we just sold a 1.03 ct. SI1 I ideal hearts & arrows diamond in the solitaire setting for $4995. Up the road from us a ways the HOF dealer is getting around 8K.

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1.04 ct. SI1 J Ideal H&A Here is another example to compare. This one went for around $4500.

 

Like I said there are some very nice diamonds being cut these days. Back when this type of cut was less known to the market HOF built a brand name based on the hearts and arrows pattern. Today many diamonds are being cut the same way but most without brand added expense.

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