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Egl To Gia


maverick712
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So I recently purchased a diamond and no this is not the same old song and dance of which is better or can you tell me what the actual GIA grading would be. 

 

I like to consider myself moderately educated about diamonds.  I've made 2 significant purchases and lots of research in store and online.  This time I took my girlfriend to look at stones for her engagement ring.  We've both been married before, I was in Chicago and had a lot of access to informative sellers and she had not gotten to experience true diamond shopping and was excited to do it this time.  I knew what I wanted and was pretty confident I wanted to purchase online but wanted to get her take and understand what was important to her.  We look at  several stones at a few locations and all I could think of was that they were overpriced, poorly cut, not up to my standards.  To my delight, she couldn't tell.  She couldn't pick out an F vs I color or VS to SI.  So this immediately opened up my options.

 

Before, this trip I was pretty set on a 2.0+ Round GIA F SI2 with the cut being the most important, 57% table and 60% depth being the ideal target.  Doing lots of research before hand I had determined this would run me between $17,000 and $19,000 depending on cut, inclusions and fluorescence.  After this trip, I thought maybe I'd change it up a bit. 

 

I started playing around looking at EGL diamonds.  Obviously color can be 2-4 shades different than GIA standards and sometimes clarity can be slightly different but not as much.  I came across what looked like was a screaming deal.  2.01 F VS1 57%T and 61.3%D no fluorescence EGL International graded.  It scores off the chart on the HCA and the pictures I found didn't indicate anything out of the ordinary as far as you can tell from them.  The main kicker was the price was $14,035.  During the first hour of back and forth with the seller, the stone was made unavailable due to someone else purchasing it.  This really bummed me out because the next closest in comparison was an E VS2 and it was listed at $17,350.  I know the old saying if it's too good to be true then it probably is.  I was thinking it was gone or they pulled it to fix the price. 

 

But low and behold the seller emailed me that night and said the other buyer couldn't get approved for financing.  Based on my feelings when I thought it was sold out from under me, I knew I had to move quickly.  The seller immediately held the stone for me, and we worked out the details.  The payment went through and I received the diamond Tuesday.  It's absolutely stunning.  Very bright and tons of Fire.  Can't see an inclusion without minimum 50x or hold it upside down.  Out of pure curiosity I have sent the stone to GIA for grading.  I just want to know if I hit a home run deal.  The color is for sure not F but I'm hoping it's in the G-H range and not I-J.  Either way it looks great from the top and it's going to end up in the final ring.

 

I'll report back on the GIA findings in a few weeks when I get it back.  I'm just really interested to see what the variance is.

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So am I (interested to see the variance). My bet is that at best you paid a fair price, even though I'd be really happy to know that you got a bargain. The main thing is that you got a diamond that you like - and hopefully so does your girlfriend.

 

Why do I think that it's at best a fair price? Because the vendor (and the wholesaler, and the cutter) had the option to do the same as you just did, and pay GIA/shipping a couple of hundreds. The cheapest GIA 2.00-2.05 F/VS1 Ex cut no fluorescence I can find sell (retail) for around $26000; why would you leave $12000 on the table for the sake of $500 (rush service and courier shipping)?

 

In fact, assuming the cut is as nice as you say (the report provides little information, since it's percentage and not angle based, and the pictures of the hearts are way too small to make them out at the resolution you can post directly on the forum - the ones on the right are NOT of the stone), it's quite likely someone down (up) the chain did exactly that, and decided they were better off selling it as an EGL F/VS1 than as a GIA whateveritis. Sometimes it's purely a question of time (i.e. an "F/VS1" will tend to sell faster than an "L/VS2"), and sometimes it's actually a question of price (you can sell an "F/VS1" for more than an "M/VS2").

Edited by davidelevi
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