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Did I Just Make A Huge Mistake :(


preludejo
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Hey guys, I am proposing to my G/F this friday and though I did some research before I bought the ring I am doing more now after I bought the ring :angry: Here is my situation.

 

I bought a EGL-USA certified diamond. I went with my sister who agreed that the diamond was beautiful, it has a slight cloud line that is very hard to see, but if you try hard enough you can see it. Anyway I am going to post the specs please dont tell me if its garbage, I mean be honest but lets just hope I didnt get duped. (the ring does look beautiful)

 

Its a Solitaire setting, round diamond, Tiffany type of style ring, the specs on the ring are as follows (It does look beautiful and the inlcusion is like a small tiny white spot, very hard to see and very light in color

 

Measurement 8.41-8.35x 5.10 mm

Shape/Style Round Brilliant

Wieght 2.19ct.

Clarity SI2

Color D

Depth 60.9%

Polish Very Good

Symmetry Very good

Table 58%

Cut Grade EGL Ideal Plus

Thin to Medium Faceted

Florescence-None

 

I read the Universal Gemoligical Services is a Sub-Division of EGL and they bloat the appraisal price, this was appraised at $34,370.00, I paid $18k total, including ring (white Gold), setting tax etc........did I spend wayyyyyyyyy toooo much?

 

Again the ring looks great but did I make a bad decision, thank!

 

Joe

 

Please email me at Preludejo@aol.com if you want to send private messages thanks!

Edited by preludejo
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1. Throw that appraisal away, it only worth is as toilet paper.. Get a real one later from a real appraiser..

 

2. The price is fine.. The key at this point is simple..

 

Do you love the diamond?? Can you afford the diamond??

 

If the answer is yes to both of those questions then relax, enjoy the ring, enjoy your fiancee..

 

Congratulations!!!

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Well first let's look at the good news....

 

It's Ideal Plus which means it's an above average to exceptional cut.... where exactly it's hard to say but at least it's a premium cut. It may not be "super ideal" or anything but it should still look nice.

 

The price is fair assuming it's accurately graded.

 

 

Now the bad news...

 

The SI2 is a big question mark, that's probably the ONLY thing I would question on that lab report. Even if it's really a E or F color it makes little difference compared to a SI2-I1 clarity price drop. Yes going from D to F for example would impact price, but going from SI2 to I1 is huge. This SI2 clarity grade is the critical component in knowing if you got a good diamond and value. So before you propose I would strongly advise you take the diamond to several jewelers and ask to compare it with other SI2 rounds of that approximate size. Ask them what they think. And DEFINITELY find a good independant appraiser who can give you their honest assessment. Just because it's EGL graded doesn't mean it's graded 100% wrong. But it may be off a grade or 2, and that's something you'll want to know for sure on a diamond of that size especially on the clarity.

Edited by Adylon
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Joe,

 

With a day to go - unless your proposal plan can be delayed - there isn't much you can do. I think Steve gave you great advice.

 

One thing I would consider if you are worried is the upgrade/return policy of the place where you bought the diamond/ring. If it is a good one (e.g. will accept stone at any time for 100% credit against any stone costing more), then relax and enjoy the event. If the inclusion bothers your fiancee, you can always upgrade later. Just make sure you have things in writing.

 

Congratulations!

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1. Throw that appraisal away, it only worth is as toilet paper.. Get a real one later from a real appraiser..

 

It always sounds so self-serving when I say things like this but it really is correct. You KNOW that this 'appraisal' doesn't apply to your situation by the mere fact that a dealer sold a supposed $34k ring for $18k. I assure you, if they could have got $34k for it, that's what they would have done so this begs the question of what they mean by this figure. That's not what it would cost you to get one like it as you've already demonstrated, it's not what you could get for it on resale, it's not what your insurance company will pay in the case of a loss, what is it? A proper appraisal, by the way, should answer this question right in the body of the report.

 

If you're going to concede that they're wrong, speculating over how wrong is a fools errand. Garbage in = Garbage out. You can't take an arbitrary number, apply a formula to it and have that convert it into something useful.

 

I agree with the advisers above, it sounds like you're happy with the ring and it's the paperwork that's the problem, not the merchandise. That's easy enough to fix. Make your proposal, have a great and memorable time at it and after she says 'yes', arrange for an appointment with an appraiser.

 

Congratulations.

 

Neil

Edited by denverappraiser
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