Procedure re: buying, grading, setting

[Holy]

I''m shopping for an engagement ring. I have spent probably upwards of 40 hours researching round-cut diamonds on line and elsewhere. One thing I have concluded is that I should have the diamond independently graded, and if it is not satisfactory to me, I should return it. I have a friend who is a gemologist and works at a retail store.

Here is the scenario with my questions:

I find a loose diamond I like on line and get it in the mail. I make sure that the vendor has a generous return policy. I take the stone to my friend (or a place recommended by her or someone on line in this forum) where she or someone else does a thorough grading (and I pay for it, whatever is fair).

I am satisfied with the stone so now I want it set. Now what do I do? Do I send it back to the vendor and have him set it? Or do I shop around independently for a different jeweler to do the setting? Wouldn''t that be more costly? Besides, I''d rather do the process all in one shot. Or is it wise to do it separately? If so, can anyone recommend a jeweler (local to San Diego area or on line)? I''m looking for a solitaire, six-prong setting in 950 platinum. Palladium alloy would be preferred to iridium or ruthenium but not necessary. Please help! I''d appreciate analysis/comments on any aspect of this scenario. Thanks.

 

[Regular Guy]

Welcome to Pricescope!

I''ve thought too much about this, too.

One approach:

Select an AGS0 diamond, so it doesn''t matter too much who your appraiser is, vis-a-vis proportion analysis. (Some thoughts here on finding an appraiser.) If your appraiser is local, is independent, and also, you feel like their relationship with the vendor will not matter, consider having the vendor send the diamond to the appraiser at no cost (but they''ll only do this if the appraiser is independent, and also doesn''t sell jewelery).

After confirming the diamond is what you want, have the appraiser send it back to the vendor, have the vendor set it (sounds like it is not a complex setting you''re seeking). Have the vendor send the ring back to the appraiser for final approval, where they can re-check to see that the diamond was set properly.

Second approach: Develop a relationship with a local place that will sell you a setting and set your ring. Bring both setting and diamond to your local appraiser, getting them appraised separately, but together. Insure them this way with Jeweler''s Mutual, but study detailed threads here to see you''re insured during the setting process. Or, call Sue Fritz there, and ask her how you do this. Have the local place set your diamond, take it back to appraiser for final appraisal.

Sounds like a rigmarole, but maybe there''s no other best way.

Best wishes,

 

[findarock]

IRA,

Interesting information about this thread. I am also looking for a diamond, I am not sure if I should look for a diamond ring or do what Holy is talking about and maybe I should try and get a ring and do it piece mill?

 

[JulieN]

The method outlined above is for first-timers, type A personalities, or those who need to "see to believe."

It is also more expensive and time-consuming.

However, if you are buying a diamond backed up with a major lab report from a company that''s going to give you the straight dope, then having the whole sent to an appraiser, then to you if it checks out, also is an acceptable way to go.

Pros and cons of both approaches.

 

[RockDoc]

If you have a friend who works at a store, and is a credentialed gemologist, why aren't you dealing with him? Can he not get you as good a deal as online?



Rockdoc

 

[Holy]

My friend is new in the business and works for a local (I think) retailer chain (2 stores). She sounds very knowledgeable and says her store has equipment for doing tons of light and other tests and cut measurements that we talk about on this site. She discussed them in detail with anecdotes and was able to keep up with every bit of my recent-but-extensive knowledge about round-cut diamonds--this is not a fly-by-night operation. But it sounds like her employer has some questionable employment practices so there''s already a level of distrust there. Plus the employer sells jewelry so there would be the risk of shenanigans with switching the rock.

Which sites are trustworthy enough so that I shouldn''t "need" an independent appraisal? I am a first-time buyer and have been approaching this whole process in a type-A mode (many people view me as type A but I don''t think I am). I''m frugal and I analyze things to death, especially when it comes to money matters, investments, and getting a good quality item for someone I love. I don''t really need to "see to believe" as long as I can actually see a believeable report and believeable, trustworthy, comprehensive data.

I can be satisfied with a simpler process if I can trust that it will get the job done, especially if it will allow me to dispense with a few hundred more hours of my quest.

I have looked at these vendors so far: Diamonds on Web, Good Old Gold, USAA (I doubt I would use them), Blue Nile, Adiamor, Whiteflash, James Allen. Which of these, or others, can I use that could give me one-stop shopping that I can trust without going through unnecessary rigamarole? I''m eager to move on with engagement, etc.!

Regular Guy, I read much of the links you mentioned. Thank you again to all for your help.

 

[JulieN]

Good Old Gold, Whiteflash, James Allen, Infinity retailers

through testimony on PS, I trust these guys to give the straight dope on: eye-cleanliness, performance, and durability issues

Blue Nile can be a little vague, but I'd use them if they had the right stone.

I think an appraisal after getting the ring assembled is a good idea. Setting problems/mistakes can happen to most any of them.

I suggest a gemologist to examine loose stones as an intermediate step in the case you fall prey to paralysis by analysis.

 

[Regular Guy]

Julie''s set of vendors represent a pretty reasonable bunch. Although you don''t need to stipulate this additional piece for all of them, if you add in the requirement for all nonetheless that the vendor, in each case, sees the diamond before and after it is set, themselves, making sure they are part of the chain in the process, I could agree. Also, since we''re adding the vendor into the set of parameters to make this process work, you could remove the requirement that it be from AGS, or for that matter, from any particular credentialing body.

Side bar...although a different story, largely...in the same way that TICs describe most options and a good set of values...it might be worth documenting different sets of permutations for getting the job done of putting a diamond into a ring, to get a satisfactory result. For example, most appraisers here, while acknowledging doing most of their work with the diamond in the setting, recognize they could do a better job if the diamond were loose, and might advocate for that, if the ideal case were possible....not that they don''t have a vested interest (for bringing the best analysis possible to their work, at least).

 

[firebirdgold]

dimend scaasi also has a good reputation!

 

[Regular Guy]

Two items:

a)

Date: 11/7/2006 11:11:00 AM
Author: IndieJones
dimend scaasi also has a good reputation!

I've been pleased to see them come up on the search by cut db, and with favorably priced options, where some of us continue to find value in the automated review of the HCA score for it, it does. Another approach to abbreviate...Infinity or Eightstar dealers. DimendScaasi deals eight stars. So does Capital Bill (along with infinity options), locally in DC...although I'm not sure how he partners with you in the setting process.

b) to the appraiser crowd...with what frequency do you find either perfectly respectable vendors (witness the crew listed here) or just anybody, coming in with a diamond in (X) condition, and then finding the setting actually has a negative effect on the diamond itself, after the setting is done. A second part to this question, as alluded to above, is how often is the setting process itself a problem. But...primarily...I'm wondering what the likelihood of the process of setting itself producing damaged goods.

Obviously, if with any frequency, the diamond is effected by the setting process, more serious consideration could be given to not excluding the witnessing part of the diamond in advance of it being set. But, this may be negligible. I'm just not sure (whether to regard this as a Type A kind of concern, just yet).

 

[diamondseeker2006]

I saw you ask a question about a Good Old Gold diamond on another thread. So I want to tell you my personal experience. Jonathan sells only certifed stones. That means the stones have been independently graded already. He also includes an insurance report for your insurance. I personally did not see a bit of reason to get an extra appraisal. AGS or GIA is good enough for me, combined with a jeweler with the highest integrity (he would understand your signature on here, by the way). However, my answer to your question is that my preference would be to have the diamond vendor set the stone, in the very, very unlikely event that the stone would be damaged while being set. However, I ended up having my stone set locally because I was indecisive about what I wanted. YOu can certainly have the stone sent to you for an appraisal and then send it anywhere you want to be set. But I''d want insurance on the loose stone unless the stone vendor sets it.

 

[Holy]

I had a very helpful, non-threatening, on-line chat about a week ago with "Tim," a salesman (?) on the Good Old Gold site.

I doubt I will do this, but for the sake of hashing out my thinking, and curing my paralysis by analysis:

If I just go with GOG and make a thorough search for a stone and setting there, with thorough discussion and analysis with their sales folks, what is my risk of over-paying (i.e. missing a better deal elsewhere for lack of continued shopping and comparison)?

(Thanks for the inside tips from diamondseeker2006, and the continued help of Regular Guy and others!)

 

[firebirdgold]

pretty much nil!

 

[diamondseeker2006]

I looked seriously for about 6-7 months before choosing my stone at GOG, and truthfully, the prices I was seeing locally were as much or more for stones that were lower in cut quality. I was looking for an excellent stone at a fair price and I achieved that. You might save a few dollars from one of the vendors with no storefront and a virtual inventory, but the tiny premium you pay to have all the photos and information resulting in peace of mind and confidence in the purchase is worth a lot to me. Plus, honestly, I never found anyone locally with more knowledge and passion for diamonds than I found at GOG. When I momentarily considered a stone that was $4000 more expensive, Jon told me that he''d honestly stick with the one I was already looking at because it was the best value for our money.

 

[Holy]

I just stopped by a Charles Koll in a local mall yesterday. An H SI1 ~1.15 ct with Isee light performance of 9.8, AGS0 (generic price search, based on their pricing models, based on current Rappaport sheets), was about $8,700. At GOG "my" rock, 1.158 H SI1, top light performance on all measures available, AGS0, HCA ~1.3, is $6,750. Just making an observation about the locals vs. GOG.