Dilemma – GOG AVR vs. ERD European Brilliant

[two_little_birds]

Last September I purchased a 1.91ct princess cut diamond from ERD. After receiving the stone, which I can’t deny is stunning, I quickly realized it wasn’t what I wanted (or thought I wanted).

Fast forward to now, DH and I have had multiple discussions and I have his blessing to move forward with getting a new stone / setting.

Option #1
Take advantage of ERD’s upgrade policy, using the funds (+an additional 50%) toward the purchase of a European Brilliant stone / setting. My concerns with ERD are:

• Limited supply of their European Brilliant stones (unless I have one cut)
• Specs of their European Brilliant stones don’t seem to be the greatest (looking at their current online inventory)

Options #2
I have been in touch with Jon of GOG and have been thoroughly pleased with his communication, knowledge, and general assistance. I can try and sell my ERD ring with him using his consignment services, but I am concerned because this means sending him my ring and not knowing when and if my ring will even sell (but assume it will). Plus this means I will have to pay a minimal fee for the consignment services, and I have no guarantee that the ring will sell for full value (which we are obviously hoping for). My concerns with GOG are:

• As stated, the consignment process has me slightly concerned although I am confident Jon will be able to sell my ERD ring.
• The consignment fees (although minimal) and the possibility of not getting the value we seek.

I don’t want to have any regrets this time around, and I want to be 100% happy with my final choice. I’m leaning more towards GOG at this time because I know their AVR’s are proven to be amazing performers. I’ll be honest, I’m worried about getting a European Brilliant from ERD knowing that Jon’s AVR’s are what make my heart “pitter patter”.

We have a family trip to NY planned for early June, but our time is extremely limited and our children will be traveling with us. I could visit both locations then, but I’m worried about it consuming too much time on our already packed agenda and the fact that my kids won’t be very tolerant of looking at diamonds (nor an ideal situation to have kids running around).

What should I do?

P.S. Having the diamonds sent to us for review is NOT an option as we live in Canada.

 

[marymm]

I hate to see you lose money, and I think if you consign your ring with GOG it is extremely unlikely it will sell for full value - more likely it would sell for 30% less or so.

You don't mention if you've been in contact with ERD since you've decided to go with an antique-style round... I am guessing not? While I have not purchased from ERD yet, I've had email contact with Chris (re: settings) and with Mark (re: diamonds) and their communication has been excellent. If you've already contacted Mark about a diamond, what was his response?

If you have limited time in NY in June and you'll be with children, I wouldn't recommend going out to Long Island to GOG or going to the Diamond District to see ERD - but if your DH will watch the kids and you can get out for an afternoon on your own, I would make an appointment with whichever vendor you've decided on working with (you wouldn't be able to see both in the same afternoon, they are too geographically distant).

If you are already set on an AVR (and that is the impression I am getting from your initial post), I would still take the time to go see GOG while you are in NY so you can actually see and examine them with your own eyes and on your own hand. At that point, you'll know for certain whether it is worth taking a loss on your ERD ring in order to get an AVR.

 

[Niel]

i would hate to loose the upgrade policy you have with ERD. And i mean if they have to cut you a new one, Id still probably go that route. Just feels like you'd be leaving money on the table otherwise. And i do think that some of the reason the AVR look so good is there photo quality. I do like the way the ERD stones look
http://www.engagementringsdirect.com/2.03-carat-i-vs1-european-brilliant-round-cut-diamond-gid-100024.html

 

[diamondseeker2006]

That is not correct about losing 30% when you consign. I've done it so I know. The stone is listed for sale at retail unless you decide to lower it a little to get it to sell. You tell GOG the lowest you will accept for the stone. Let's just say, for example, you need to get $18,000 minimum, so the stone could be listed at $20k assuming the lowest commission for using the proceeds for buying a new stone at GOG. But you'd really list at $21k or 20.5k to give them a little room to bargain in case they have a buyer who insists. So you fairly much control what you get. BUT, if the stone is priced too high, it won't sell. I had a stone listed for months for what it was really worth, but we finally lowered the price to make it competitive with even some of the lower priced vendors and it did sell. In your case, you might list it for what you paid a year ago, and you know you will at least lose the commission. (Again, all these numbers and percentages are made up, so you have to figure it out with your own numbers, obviously!)

I will tell you that I have been on the same quest with AVR's having my heart, but they do not have the right one for me yet because I really prefer G-H color (or high I). As tempting as it would be to try to settle for one at ERD or an old stone, I know it won't meet my desires for my primary e-ring. Or at least none I have seen thus far will.

My advice to you is to at least try the consignment now. It takes time and patience, but if your diamond is well cut, I think it will sell. Then go to GOG in June so you can see several of the stones. That will help you know what you want.

(Also not true that AVR's look better just because of the photos. The ASETs prove they have better light performance.)

 

[two_little_birds]

You don't mention if you've been in contact with ERD since you've decided to go with an antique-style round... I am guessing not?

Yes I have been in contact with Chris. My only concern is that I asked Chris for some additional photos of recent European Brilliant projects ERD has done and he wasn't able to provide anything. I am going to send him another e-mail though to see if he can send me additional photos and perhaps a video of a current stone they have in inventory. I'd like to see some additional lighting conditions too... their photography isn't the best (compared to GOG) and I really dislike the black backdrop they use, but they do try their hardest to compete and meet your expectations.

 

[two_little_birds]

http://www.engagementringsdirect.com/2.03-carat-i-vs1-european-brilliant-round-cut-diamond-gid-100024.html

Too funny, out of the 6 they currently have posted this is my favorite.

I'm going to ask Chris to send me some additional photos and a video of that stone if possible. Plus the certificate. This stone is above our budget, but I want to see how it performs.

 

[two_little_birds]

I will tell you that I have been on the same quest with AVR's having my heart, but they do not have the right one for me yet because I really prefer G-H color (or high I).

Yes, I too feel the same way and have already had this conversation with Jon. My preference is a H/I colour, SI1 (eye clean) to VS2.

As tempting as it would be to try to settle for one at ERD or an old stone, I know it won't meet my desires for my primary e-ring. Or at least none I have seen thus far will.

That is my biggest fear!

 

[marymm]

Of course I defer to DS's expertise and experience when it comes to consignment - my response was predicated on OP's hope she would receive full value to 10-15% less on her ERD ring just purchased in Sept 2012, and considering the consignment fee and my assumption it would be sold as a ring rather than a loose stone I estimated OP might receive apx 30% less than she paid 6 months ago. If the diamond and setting are sold separately and OP is prepared to wait for her price, it does seem more likely she could recoup more of her original purchase price (less consignment fee).

 

[two_little_birds]

Of course I defer to DS's expertise and experience when it comes to consignment - my response was predicated on OP's hope she would receive full value to 10-15% less on her ERD ring just purchased in Sept 2012, and considering the consignment fee and my assumption it would be sold as a ring rather than a loose stone I estimated OP might receive apx 30% less than she paid 6 months ago. If the diamond and setting are sold separately and OP is prepared to wait for her price, it does seem more likely she could recoup more of her original purchase price (less consignment fee).

I should have been more specific too, my setting isn't worth anything - so the value is based on the diamond alone.

 

[diamondseeker2006]

What I would suggest if you are sure you want out of the princess is to consign it and have Jon set a cz in your setting if you think you'd wear it until you get a new one. Even if you don't want to wear it, it might make the setting easier to sell because someone just might want it with the cz in it!

 

[two_little_birds]

I would probably just get Jon to remove the stone, and sell it as loose.

I know most of you voted for waiting to see the stones in person, but again this may not be feasible. We've never been to NY before, and we will only be there for 4 days. Since this is a family trip with a packed agenda I'm not sure about timing. Plus if we decide to fly instead of drive I'm not sure how I would get to GOG since it's an hour outside of the city.