Buying a Craigslist rind for the diamond?

[presentation]

What should I have paid?

Thank you for your help.

I wish I found this forum earlier. I guess I’m asking if this was a deal of a lifetime or just a so-so deal. This was a cash private party Craig’s list sale. I paid $2,300. It seemed like the best price I could find for a similar size, clarity and color diamond at local stores was more than double this price for the diamond alone.


I came up with the idea of buying a Craigs List engagement ring for the diamond then put it in a new setting of our choice.
Last night in a terrible snowstorm I drove over 100 miles each way to buy an engagement ring from a Craig’s list seller. Now that we have it my soon to be fiancée and I are discussing keeping the ring and putting her birth stone in it rather than selling the ring at dump value.


I did get a laminated EGL certificate. I also got the ring. I also know what independent jewelry store sold the ring 5 years ago for just over $8,000.

I stopped at a local jewelry store for a free evaluation (non-written) where the person confirmed several items on the certification including examining inclusion locations, width, and their opinion of the clarity grade, Florescence and color. The diamond does not have a laser etching.





The diamond is EGL certified. Am I allowed to post the lab number? It starts with EGL 2 and is dated October 17 2007.

Here are the specifics:
1.06 cts
Round Brilliant
6.49 – 6.44 x 4.05
Total Depth 62.6
Table Width 57%
Crown Height 15%
Pavilion Depth 44%
Girdle Thickness Thin Faceted
Polish Very Good
Symmetry Very Good

Cutlet none
Slarity SI1
Graining Nil
Color H
Fluresceence None
Comments: Tolkowsky Ideal Cut, 8 Hearts & 8 Arrows

 

[Roxy]

What matters the most is how beautiful the diamond looks to you and your fiancee.

All of the specs, stats, pics, etc that we encourage consumers to use in researching the stone are really to help narrow down the field. But if you've seen the diamond in person and you love the way it looks, that's really all that matters.

So, congratulations to you guys!!

 

[HopeDream]

Hi Presentation,

EGL usually over estimates the stats by 1-2 grades (as compared with GIA), so looking at some I-J Si1 - Si2s with a "good" cut in the 1-1.07ct range, James Allen has prices of $3,620-$6,460 for a comparable stone.

Your setting is probably worth at least $500 new, so you definitely paid less than full retail price.

The used market sells at 30-70% of retail, so a conservative estimate of a fair second hand price is $1,236 -$4,872 (Probably closer to the higher end because you have the certificate for the stone.) However, If we take $8000 as it's original retail value then it would be around $2400-$5600.

The amount you paid falls within/below those ranges, so I believe you paid a fair price for your ring.

 

[Nelly]

It is pretty difficult not to stay a way from scam today. But hopefully you managed. I happened to be overcharged last year when was buying a ring for my mum's. And a lot of people do experience fraud buying diamonds http://www.pissedconsumer.com/consumer-reviews/jewelry.html.. But HopeDream sounds pretty persuasively. I hope your fiancée will love it.