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yzerman

0.90Ct Princess Cut Price Question

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I bought my girlfriend a Tacori engagement yesterday from a local Janina's Jewellers store (www.janinas.com) and decided to get the diamond there as well. I know next to nothing about diamonds, so I had to rely on the information of the lady who helped me. So now I have about a 4 week wait for the ring, and already I'm wondering if I paid too much for the diamond.

 

0.90CT Princess Cut

Sl1

Color: I

Cut: Very Good

 

I paid $7000 for it, but after looking around online I'm finding that similar diamonds are priced quite a bit lower. Is it a reasonable price? I saw it in person and thought it looked very nice, but again, I know almost nothing about diamonds.

 

Sorry if I haven't provided enough info.

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Well, that's pretty high any way you cut it but it depends on several variables.

 

Was the $7k for the diamond alone of does that include the mounting with it?

 

Who called it SI1 I? What lab graded the stone? Who called the cut 'very good' and what did they mean by that?


Neil Beaty

GG(GIA) ICGA(AGS) NAJA

 

There's never a crowd when you go that extra mile.

Professional Appraisals in Denver

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If you paid $7000 for the centre stone alone, you have - I am afraid - been definitely ripped off. You can get a 1.00 G/F VS AGS 000 princess cut for that amount.

 

If you paid $7000 for the whole ring, it may be entirely reasonable.

 

There are three key pieces of information missing:

 

1. Who is calling the stone I/SI1? You? The dealer? GIA? AGS? EGL?

 

2. Who is calling the cut "very good"? If not AGS, based on what information?

 

3. What does the setting look like and how much is the Tacori list price for it?

 

ETA - Ok, never mind. Neil got there first with the same three questions... :)

Edited by davidelevi

Davide - Specialised Consumer Information and Assistance,
Diamonds by Lauren (http://www.diamondsbylauren.com)
davide@diamondsbylauren.com

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Thank you guys. I feared as much. They had a card with all the details/specs on it for each diamond and that's all I know. I guess I'll have to call them. The setting was $2200, so it ended up being almost $10000 in total. Maybe it isn't too late to get them to switch to a cubic zirconia for the time being, and pick out a reasonably priced stone with my fiance later.

 

Edit: Out of curiousity, approximately what should I have paid?

Edited by yzerman

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The most expensive comparable stone listed for sale on the Diamond Finder is just over $3800

 

http://www.diamondre...ice&qSortDesc=1

 

Buying in a brick-and-mortar shop will usually be more expensive than pure-play internet sellers like most of the advertisers, but $7000 is out of order for that type of stone. A 1 carat princess cut in a platinum pavé setting at Tiffany & Co. is almost the same price you paid for yours... and Tiffany is many things but not cheap (and a 1 carat stone will cost about 30% more than a 0.90 with the same colour/clarity/cut)

Edited by davidelevi

Davide - Specialised Consumer Information and Assistance,
Diamonds by Lauren (http://www.diamondsbylauren.com)
davide@diamondsbylauren.com

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Looks like I'm just going to have to go with it. They have a 25% restock charge, so it's really not worth cancelling the order. Oh well, live and learn. Thanks again for your time. I feel pretty stupid, though!

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Grading is a big deal and a little card with notes is the wrong answer. SI1/I sometimes means SI1/I but sometimes it means SI2/J or worse. That's part of the point of the labs. In the database at the top of the page behind the 'diamond finder' link there are 16 stones 0.90-0.94/I/SI1/princess/GIA offered for sale ranging from $2601 - $3812. Storefront jewelers usually cost a little more but a correctly graded 0.90/I/SI1/princess shouldn't be hard to buy for $4,500 and one without any sort of credible grading documentation should be available for even less.


Neil Beaty

GG(GIA) ICGA(AGS) NAJA

 

There's never a crowd when you go that extra mile.

Professional Appraisals in Denver

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Looks like I'm just going to have to go with it. They have a 25% restock charge, so it's really not worth cancelling the order. Oh well, live and learn. Thanks again for your time. I feel pretty stupid, though!

 

There's a restocking fee the day after the deal and 4 weeks before they even deliver the goods? Yikes!

Try fighting a bit. That seems awfully harsh.

Edited by denverappraiser

Neil Beaty

GG(GIA) ICGA(AGS) NAJA

 

There's never a crowd when you go that extra mile.

Professional Appraisals in Denver

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Maybe a bit of both. I see the store is in Canada, which I didn't notice before and which adds about 15-20% right there. If you're in a tourist town or some similar sort of place you'll see another 20-50%.

Edited by denverappraiser

Neil Beaty

GG(GIA) ICGA(AGS) NAJA

 

There's never a crowd when you go that extra mile.

Professional Appraisals in Denver

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All of this said, you could still return the stone, take a hit of $1750, and get a better stone somewhere else for less money than $5000... I would be tempted to do it, not least because of the way the shop has been treating you.


Davide - Specialised Consumer Information and Assistance,
Diamonds by Lauren (http://www.diamondsbylauren.com)
davide@diamondsbylauren.com

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I'm sorry to raise an old thread but I know of this store and have seen this happen there many times so I thought I'd fill in a few details the op didn't know for anyone else that may stumble across this thread.

 

To give you an example, there is an engagement ring from this store on kijiji right now in our area (I live in the same town as the op): it has a 1.02 ct good cut si2 f color centre diamond with 2 0.53 ct very good si1 f color diamonds. It's in a plain 18k white gold band - the price he paid: $18,999. Janinas appraised it at $23,999. It broke my heart to see.

 

Part of the problem is this town has oil money. Janinas has done well marketing itself by selling designer rings (tacori, simon g, verragio, etc). It's considered the place to go as these guys are the experts.

 

I had a friend looking at a 1 ct diamond there - $12k. It had an "ideal" cut, I color and vs1. Here's the problem I spotted: they told me it was graded by GIA which as everyone here should know GIA does not to "ideal". The I color looked more like a m color.

 

The little card the op mentioned is from the appraiser GIS (gemscan) and indeed it did say ideal and I color. So my thoughts are that janinas gets inferior diamonds upgraded by GIS and then sells them based off this appraisers value. They're all done by the same GIS so that raises flags for me too - kickbacks anyone?

 

My suggestion to anyone else out there like the op, stay clear of these guys. Who wants to pay an exaggerated price for an inferior diamond?

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I don't think it's a question of kickbacks. Most labs are quite sloppy with standards, and that's by far the biggest problem: you never know if they are spot on (rarely, but it happens) or if they are way off.


Davide - Specialised Consumer Information and Assistance,
Diamonds by Lauren (http://www.diamondsbylauren.com)
davide@diamondsbylauren.com

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Kickbacks may have been a little too harsh but when the jeweller keeps using the same appraiser who over values (and improves the grade) the diamonds you have to question it.

 

Janinas also pushes this appraiser and has told friends of mine that they don't accept appraisals from anyone else. I had a friend take their newly bought ring to another appraiser who told them it wasn't even close and couldn't appraise the value 1/5th what janinas sold it to the couple for - the diamond was chipped. They were heartbroken.

 

I don't mean to rant on them, I'm just a consumer living in the same town as the op and have had a fair few run ins with them. Selling a GIS grade and calling it a GIA grade is just plain wrong.

 

I'll let the thread die again, I just wanted to give a little extra info in case others in a similar boat to the op stumble across this thread. If you are comfortable talking diamonds, by all means check them out but make sure you ask to see the Gia grading report or at least get the number since that's what they say they're using. If you don't know much about diamonds - stay clear of buying a diamond from them. The mounts/settings are fine though.

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We are on the same side - and if you look at 5000+ posts my position on these issues is pretty consistent... and aligned with yours.

 

All I'm saying is that it's not a problem with a lab accepting kickbacks; all of what you are pointing out are issues with the dealer.


Davide - Specialised Consumer Information and Assistance,
Diamonds by Lauren (http://www.diamondsbylauren.com)
davide@diamondsbylauren.com

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Thank you guys. I feared as much. They had a card with all the details/specs on it for each diamond and that's all I know. I guess I'll have to call them. The setting was $2200, so it ended up being almost $10000 in total. Maybe it isn't too late to get them to switch to a cubic zirconia for the time being, and pick out a reasonably priced stone with my fiance later.

 

Edit: Out of curiousity, approximately what should I have paid?

Every situation is different.  I just purchased a Tacori 2573 with a slightly smaller round diamond for arond $4500-$5000.  Actually, I waivered on the stone I originally chose so I am going back to choose from 5 or 6 pre-selected stones (I have GIA #'s for four and will have the others tomorrow).  All stones are GIA EX or VG, I color and VS2 or SI1 at .80 or .81 carat.  Not sure if that helps or not, but sounds as if a re-stocking fee may be worth it.  If not, did you pay by credit card?  Would the CC company help?  Btw, my deal included the Tacori setting that was $2110.  I'll be at less than $5k out the door.

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