just bought engagement ring today, and regret it...

[elle_chris]

Date: 12/4/2008 8:58:18 PM
Author: TD220
Thanks again everyone for your responses, i greatly appreciate your help. Honey22 - i think you are taking my words out of context, i have put a great deal of time, energy and money into this, and i reserve the right to be frustrated and/or concerned. and if my future wife read this, she would understand, this is still a business transaction.

I have contacted a local appraiser and am getting it checked out next week. if the appraisal report warrants the price, i''ll keep it, if not, it goes back.

this leads me to another question, why wouldnt everyone just get an EGL diamond appraised and pay based on that price? avoid the premium put on GIA diamonds, and the appraisal provides the same comfort, but w/ the EGL ''discount?''

lastly, i have the EGL report, but it doesnt state what type of cut the cushion is the chunky or crushed ice look (i forget the technical terms).

thanks again everyone!

Because it''s hard enough finding a well cut diamond. Throw accurate color and clarity into the mix and how many stones would I need to go through with EGL? how much cash am I going to hand over to my appraiser (which by the way charges 200 in nyc) in the hopes of finally getting one right? Not to mention the frustration. In the end, the price i''m going to be paying for the stone is going to be based on it''s true grade anyway (regardless of what any lab says, jewelers know what it''s worth and price it based on that), so why not get it right the first time?

 

[bgray]

dealers often send stones they view as needing a soft grade to EGL whereas better stones are more likely to command a better price and this be sent to GIA--

 

[John P]

Date: 12/4/2008 9:36:15 PM
Author: Moh 10
Imagine if the someone sent the same diamond to several labs and it came back as with weights between 2.7 and 3.01 carat.

I think this a thought-provoking comparison, Moh.

 

[TD220]

Honey - thanks for the feedback, i appreciate your honesty, yes, we are friends

i''m trying to attach the EGL report, but the file is 1.5MB, how do i shrink it?

 

[Ashleigh]

Date: 12/4/2008 8:58:18 PM
Author: TD220
Thanks again everyone for your responses, i greatly appreciate your help. Honey22 - i think you are taking my words out of context, i have put a great deal of time, energy and money into this, and i reserve the right to be frustrated and/or concerned. and if my future wife read this, she would understand, this is still a business transaction.

I have contacted a local appraiser and am getting it checked out next week. if the appraisal report warrants the price, i''ll keep it, if not, it goes back.

this leads me to another question, why wouldnt everyone just get an EGL diamond appraised and pay based on that price? avoid the premium put on GIA diamonds, and the appraisal provides the same comfort, but w/ the EGL ''discount?''

lastly, i have the EGL report, but it doesnt state what type of cut the cushion is the chunky or crushed ice look (i forget the technical terms).

thanks again everyone!

Hi TD, I''m no expert here But my understanding is that if it goes to EGL Israel and comes back at E/VVS, it''s $25K (cheaper since it''s EGL Israel). If it goes to GIA and comes back at G/VS, it''s till $25K (this price cos lower colour and clarity).

Regarding the GIA premium issue, I think most won''t mind paying tens of dollars more for a cert from GIA. I think GIA is between $100 to $150, not sure abt EGL. Let''s say EGL is $50 (made-up estmate only to illustrate). Difference is only $100. $100 is relatively small compared to when one is spending thousands for the diamond. Anyway, I''m sure an appraiser will be around a $100 too.

 

[bee*]

I think that you''re doing the right thing sending it to an independent appraiser and see what they report back to you. If you love the ring though and have seen it with your own eyes, then that''s also very important.

 

[Sharon101]

Date: 12/4/2008 8:58:18 PM
Author: TD220
Thanks again everyone for your responses, i greatly appreciate your help. Honey22 - i think you are taking my words out of context, i have put a great deal of time, energy and money into this, and i reserve the right to be frustrated and/or concerned. and if my future wife read this, she would understand, this is still a business transaction.

I have contacted a local appraiser and am getting it checked out next week. if the appraisal report warrants the price, i''ll keep it, if not, it goes back.

this leads me to another question, why wouldnt everyone just get an EGL diamond appraised and pay based on that price? avoid the premium put on GIA diamonds, and the appraisal provides the same comfort, but w/ the EGL ''discount?''

lastly, i have the EGL report, but it doesnt state what type of cut the cushion is the chunky or crushed ice look (i forget the technical terms).

thanks again everyone!

Its not that GIA graded diamonds have a premium so much as they are the real grading.

Softer graded diamonds are not truthfull gradings and therefore only appear cheaper (all things being equal here).

It is interesting to note that most people walking around with diamonds think they are much better than they are based on false info that they were given at time of sale.

The reason that this system exists is because there is no consequences for grading diamonds soft. I suspect that buyers prefer to get a `bargain` and feel good about their stone, and sellers find it easier to sell these special bargains.

 

[Lorelei]

Date: 12/4/2008 8:58:18 PM
Author: TD220
Thanks again everyone for your responses, i greatly appreciate your help. Honey22 - i think you are taking my words out of context, i have put a great deal of time, energy and money into this, and i reserve the right to be frustrated and/or concerned. and if my future wife read this, she would understand, this is still a business transaction.

I have contacted a local appraiser and am getting it checked out next week. if the appraisal report warrants the price, i''ll keep it, if not, it goes back.

this leads me to another question, why wouldnt everyone just get an EGL diamond appraised and pay based on that price? avoid the premium put on GIA diamonds, and the appraisal provides the same comfort, but w/ the EGL ''discount?''

lastly, i have the EGL report, but it doesnt state what type of cut the cushion is the chunky or crushed ice look (i forget the technical terms).

thanks again everyone!

TD, let us know how you get on with the appraisal, if it checks out and you love the diamond then that is all that matters!

 

[oldmancoyote]

Date: 12/3/2008 1:54:54 PM
Author:TD220
[snip]

lastly, the jeweler stated they send to EGL for the sole reason they are cheaper, which translates to cheaper prices for their customers. w/ the economy waning, they've had to cut costs for customers to keep the volume up. they said some buy stones w/ EGL, but they buy from a broker then send to EGL for certs. is that normal?

so as i sit here hours after being high as a kite, only to feel like i 'cut a corner' i'm open to any and all opinions and advice?

thanks in advance.

TD

It's a bit late in the day, but from my point of view any jeweler who made that kind of statement would see me promptly marching out of the door never to return. The GIA grading fee for a 3 to 3.99 carat diamond is $217 (http://www.gia.edu/gemtradelab/31548/fees.cfm). EGL Israel does not seem to publish their fee structure, but no matter how cheap they can be they won't be less than 0. So for less than $200 on $25k "I'm getting a better deal"? When the minimum "discount" expected by a retail jeweller is 10% off list price?

Puh-leeezzzze. Pull the other one, it's got bells on.

I'd return the item(s), choose an honest jeweller and proceed from there - wiser and not poorer.

Good luck!

 

[Dreamer_D]

Date: 12/5/2008 4:06:46 PM
Author: oldmancoyote

Date: 12/3/2008 1:54:54 PM
Author:TD220
[snip]

lastly, the jeweler stated they send to EGL for the sole reason they are cheaper, which translates to cheaper prices for their customers. w/ the economy waning, they''ve had to cut costs for customers to keep the volume up. they said some buy stones w/ EGL, but they buy from a broker then send to EGL for certs. is that normal?

so as i sit here hours after being high as a kite, only to feel like i ''cut a corner'' i''m open to any and all opinions and advice?

thanks in advance.

TD

It''s a bit late in the day, but from my point of view any jeweler who made that kind of statement would see me promptly marching out of the door never to return. The GIA grading fee for a 3 to 3.99 carat diamond is $217 (http://www.gia.edu/gemtradelab/31548/fees.cfm). EGL Israel does not seem to publish their fee structure, but no matter how cheap they can be they won''t be less than 0. So for less than $200 on $25k ''I''m getting a better deal''? When the minimum ''discount'' expected by a retail jeweller is 10% off list price?

Puh-leeezzzze. Pull the other one, it''s got bells on.

I''d return the item(s), choose an honest jeweller and proceed from there - wiser and not poorer.

Good luck!

I was thinking the exact same thing! The "savings" pass on to the customer because that EGL stone would not be graded the same by GIA. So the retailer can say "Look, you can have this E color EGL stone for $25000 or this E color GIA stone for $37000, look at those savings!" and the customer loves it! But really, GIA would never have graded that diamond an E color, maybe a G or and H, and you can get a G or an H graded by GIA for the same price as the E color EGL. There is a big reason retailers send their diamonds to EGL... but it is NOT about passing savings on to the customer.

Also, wanted to point out that larger tables are not great for light performance... just wanted to mention that since you pointed out that it was something you liked about this particular diamond (because it made it look bigger to your eyes).