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1.11 Ct H Vs1 Old European Cut Diamond - Worth It?


tboconne
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I am interested in buying a Old European cut diamond ring (the setting is a new platinum band with diamond bead set sides). The diamond is 1.11 ct H VS1. It is an engagement ring, and we both love it after she has tried it on twice, but I just want to make sure I'm making a wise decision.

 

What would be an appropriate price for something like this (Not exact numbers, just a ball park figure)?

 

What should I be looking out for? I've been trying to do alot of research, but it seems that old european cut diamonds are unusual and its hard for me to judge if I'm getting a fair shake.

 

Also, it is has EGL-USA documentation. Is this just as good as GIA, or should I be slightly worried?

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I'll start from the easy part - you shouldn't be worried, but you shouldn't consider the grading as entirely settled either. EGL-USA has a much better reputation than its International namesake, but it still isn't on a par with GIA and AGS for reliability; my biggest doubt is - given that for relatively small diamonds GIA's fees are pretty low ($101, to be exact, on this stone) - why did the dealer not choose them for a grading, and eliminate all doubt?

 

For the first part of your question, it's pretty tough to say - it will depend a lot on how well cut the stone is, and that is difficult to assess without seeing the stone. You may get a rough idea by looking at equivalent sizecolour/clarity(/cert) modern round brilliant cuts, and taking their price as the upper boundary. A quick search for this on the "Find online jeweler" database above comes up with $4500-$5200 for the centre stone. The setting could be anything from $1500 to $5000 - what do you mean by "diamond bead set sides"? Only a couple of small melee stones on either side, or a full microset pave on three sides of the ring? How large are the "beads"?

Edited by davidelevi
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I've attached two pictures of the ring - Hopefully that will give you a better idea of the setting.

 

I asked the jeweler why they did EGL-usa instead of GIA - she said that they use them because GIA doesn't distinguish Old European cut from a modern round cut in the paper work, and they like to have that. She showed us the report (and they also had an appraisal certificate or something that could be used for insurance purposes). I do remember that the cut was listed as very good, and that there was no fluorescence. Apart from that, I can't remember.

 

Thanks for your help! I'm new to diamond buying (as you can probably tell), and once we found that we loved the older cut diamonds it threw a wrench into my research ha ha

post-117249-1232927596_thumb.jpg

post-117249-1232927603_thumb.jpg

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I asked the jeweler why they did EGL-usa instead of GIA - she said that they use them because GIA doesn't distinguish Old European cut from a modern round cut in the paper work, and they like to have that.

 

I don`t think this is true. (Note GIA example attached) Most dealers use that lab to get more favorable grading.

 

post-114043-1233026370_thumb.png

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  • 5 weeks later...

I am going through a similar issue. We put a deposit on a 1.4 OEC ring and then started doing our research (dumb I know)- when I asked them why EGL and not GIA they gave me the exact same response you got. I have now seen several GIA reports that do say Old European Cut - but also some that say Round Brilliant even though it is clearly an OEC because the dimensions didn't fall into that category.

 

I spoke with a jeweler in the diamond district today and he said that response we got is B.S. They just use EGL to charge more for a possibly lower quality ring. The color could be 2 grades lower if the same diamond were rated by GIA. He said your should never buy a stone that is not GIA certified (of course that is what he sold...). So grain of salt...

 

What did you decide to do? I am still in a quandry.

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Interesting subject- as we have just begun to carry old mine and OE diamonds.

It's true that GIA is not really "tuned" for older stones.

I have also seen OEC stones catregorized as Round Brilliant by GIA.

Here's a GIA report for a new ( old) stone we just stocked- this one does mention "Old Mine"

r2864cert.jpg

 

Here's the diamond:

r2864a.jpg

 

 

My feeling is that the repsonse about choosing EGL because they use terminology more in line with old stones does not ring true.

A diamond dealer knows that EGL's grades are not taken seriously by the trade- and it would seem that by choosing EGL they are hoping the consumer does not know the difference.

The higher the quality, the more important to have a GIA report......

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Thanks David - this was the conclusion that we came to as well. Also turns out that our EGL cert was done with the stone IN the mounting - making it even less exact. If it was an original mounting i could understand doing this - but this is an OEC in a NEW mounting. I call shenanegins.

 

We decided to forgo our deposit (which means I can get store credit for many gifts over the next 3 years!) and go with a GIA Cushion brilliant 2.13 carat, I/VSI for 2.5k higher then the EGL 1.4, FG/VSI. I think we are making a wise decision and getting a lot more for our money. While according to the certs we are losing a little in Color - my money is on the EGL stone not truly being an F-G (why they couldn't pick one??) and the GIA is definitely an I.

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I think you made a very wise choice. The GIA stone is probably a much better buy and a lot bigger!

 

By the way - the reason why EGL didn't come up with a definite choice on colour (I'm suprised they managed it on clarity) is because the stone is set. What is a hard call with a loose stone becomes an impossible one when you can't really see the body colour from the side. I understand this is normal practice with mounted stones, although I think it speaks volumes in terms of the reliability of the grading.

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