Diamond Rings -- Advice

[Speedy]

Re: Diamond Rings -- Advice

I've also noticed over the years that whenever I have offered to pay for something in cash on the spot that the seller is more likely to come down on the cost. When I bought my first HDTV a few years ago, the retail price was $2299 and it was "on sale" for $1999 that week at the particular store I went to. I went there with an envelope with $1500 in cash in it and told the guy straight up that I wanted that particular TV and this is what I was willing to pay for it. After 2-3 minutes of talking I got him to take the cash and I was on my way with my brand new HDTV.

Yeh, I really want to try that. I'm sure that 2.5Gs in his/her face would change any dealer's mind.

[Dallasin2K3]

Re: Diamond Rings -- Advice

I recently spent about 3 months researching this and recently bought a diamond. Start with www.pricescope.com. Educate yourself on the forums there. Then I decided what I wanted, went to several brick and mortar stores, played them off of each other while I refined what I wanted by seeing things in person, and saw how close they could get to the online prices of the diamonds I wanted. You need to know how much it's worth. B&M stores will not come down to online prices for various reasons but they should get very close, within a few hundred bucks.

I recommend buying only from a locally well-reputed store or online. Avoid malls and avoid large chains, imo. I bought mine from a local broker who I knew personally many people had good experiences with and he was very straight up. If you buy online, be sure to know what the return policy is. Have the diamond appraised as soon as you get it by an independent appraiser, who does NOT sell jewelry. They can be hard to find, but are generally in large cities. You can often have the seller ship to the appraiser. This will let you know you're getting what you pay for. Be sure the diamond has a GIA certificate as well (or dossier depending on how big the diamond is). Additionally, online vendors will provide idealscope or ASET images which are nice (read about them on pricescope).

Also, ask if you can see the rapaport report for the stone... online gives you a good idea but they have the rapaport in the back, it is a chart that lists monthly trading values for different kinds of stones.. don't pay the full rapaport either, try to get 10-15% discount off of whatever it is.. then you're probably in business. If they tell you they don't know what the rap is... leave that store and find another..

More q's, drop me a line. I'll check back to the thread also. GL.

edit: Also, I should say if you are buying a diamond ring, shop for loose diamonds which are not in a setting. Pick that first, that's the important and expensive part. A setting will make it hard to tell if you're getting a good diamond or not. Find your diamond and then get it set after.

[FlyingFinn]

Re: Diamond Rings -- Advice

Maybe some of the other guys who've bought diamond rings can chime in on this, but I think clarity trumps carat size.

I agree. I bought my now wife a 1 carat diamond the graded out off the charts in cut/clarity/color when I had appraised by a private appraiser. Everyone that sees thinks that it is 2 carats or bigger because is sparkles so much.

As for where to get it... I swear by Blue Nile for at least the diamond. Here is my story. I bought my wife what I thought was a great ring from Bailey, Banks and Biddle. (National Chain I believe). I had it privately appraised for insurance purposes and it ended up being appraised for $3000 less then I spent on it. Needless to say I was not happy with that. So I bought the above mentioned diamond at Blue Nile after a lot of research and I had the B B & B diamond removed from the ring and got my money back for the diamond. I replaced it with the diamond from Blue Nile and the ring appraised for $5000 more then I paid for it. In fact he stated, it was the best diamond he had seen in the last 10 years of appraising and was surprised I was able to get it for such a low price.

Note: The appraisal was done by the same person who was an independent gemologist.

[eDotd]

Re: Diamond Rings -- Advice

mjb is always dropping that financial knowledge..lol

I agree on the cash thing though. That's how I got the phone I'm using now. (not nearly as expensive as what's being discussed in this thread, but still...)

[Speedy]

Re: Diamond Rings -- Advice

Dallasin -- Thanks for the advice.

For those that have purchased diamonds online, any bad reviews? How do I go about getting a diamond appraised by someone other than a jewlery seller? Also, bluenile seems extremly expensive. Is that because the diamonds are vastly superior than the competition?

BTW -- I said I want to spend a max of $2500...ideally, I'd like a 3-stone ring so please advise the total cost which should be on the diamond(s) and what should be spent on the band.

[Speedy]

Re: Diamond Rings -- Advice

I've been researching Blue Nile for negative reviews and their reputation but all I see are wonderful things. One review was a lady upset that her husband ordered a ring and Blue Nile called him the next day to inform him the diamond was no longer available and attempted to sell a more expensive diamond so the guy cancelled the order.

...which I think is great looking at the company. I would prefer to be called and informed what I want isn't available and choose whether to get something else or cancel the order. I'm impressed so far.

EDIT: This is what I'm thinking about...I don't like the band as much as the diamonds but I don't know about getting the diamonds set by a jewler locally.

[Dallasin2K3]

Re: Diamond Rings -- Advice

A friend of mine put it best on diamonds when he said they are tiny and expensive. Bluenile is expensive because diamonds are expensive. Best I could tell, bluenile is about as inexpensive as you can find in a reputable retailer. Downside is that you don't get to see before you buy, though.
My buddy bought from bluenile and was very happy, I bought locally but used blue Nile as a resource. I wouldn't buy just anywhere online, you can get ripped off, but bluenile is well reputed.

Although no brick and mortar store can go as low as bluenile because they pay rent, electricity, employees, etc. They should get close.

The first q is what does she want in a ring? Band? Does she want a solitaire or multiple diamonds? Does she want white gold or platinum? If she wants a solitaire, you can expect 95% of the cost will be the diamond. Yiu can get a classic tiffany solitaire setting in white gold for $200 or less. The diamond will encompass almost all of the expense in that situation.

As far as what stone you want, I recommend going to a well reputed brick and mortar store, not a mall chain nearby, and look at different colors, cuts, clarities, etc. See what the equivalent diamond on blue Nile really looks like and decide what you want. I personally didn't even look at a vvs2 because everything si1 and better and some si2s were totally eye clean, and vvs are very much more expensive, for wat seemed like minimal difference without a microscope. Color wise, I saw many fgh levels that performed great, and couldn't tell much of a difference with the de stones unless they were right next to each other. Cut I could notice so I went with the highest possible but it depends what you think they look like.

I recommend you go look at some stones before buying. Vvs2 e is a high cost per carat, you may be able to get a triple ex cut Si 1 or vs fgh that's bigger and looks just as good for the same price.

You can also always buy your stone anywhere, even online, and have it set locally.. or buy at one store, set at another.. gl