Purchased loose diamond.. Next step??

[absolut3]

I just purchased a loose diamond. Could someone point me to the right direction on what i am suppose to do next? Am i suppose to get it insured? appraised? or am i suppose to get it set on a ring first? I'm kind of clueless right now. I feel like i jumped in without knowing much.

 

[diamondseeker2006]

Well, if you jumped in without knowing much, I'd ask you if it is graded and what the stats are. Then we can tell you whether you got a good stone or not. And if not, are you still within your return period? This site has everything you need to learn how to buy a top quality stone and there are many here who can give you advice. People can also suggest excellent stones for you to compare with the one you purchased (if it still can be returned). If it cannot be returned or even exchanged, then you need to get a setting!

 

[absolut3]

i did read some of the stuff on this forum about what to look for in a diamond. I went with aca diamond from whiteflash so i'm sure its a pretty good stone. I'm just clueless on what the next step would be. I was thinking about getting the grace setting from briangavindiamonds.

 

[D&T]

have you found a ring that you are interested in? or a designer that you want to work with? with a quote? if so, then I know jewelers mutual will insure a loose stone while it is in the process of being set, but you need both your diamond documents ie sales receipt or appraiser document(which ever amount you feel like paying a premium and coverage for) they will also need the specs on the mounting or setting that the diamond will go in. This is the only way I know how to insure a loose stone while it is in the process of being set. Otherwise, if you havne't thought about it, I'd keep it in a safety deposit box until you are ready for the whole ring package. Good luck

 

[slg47]

If you are getting the setting from WF then it is covered while being set. If you are getting it set elsewhere, then you should get insurance. Jeweler's Mutual can do this, if you provide them with a receipt for the stone and a price quote for the setting.

 

[yssie]

Ditto D&T & slg - get the stone insured before setting (JM will do this in the US and I believe Canada now?)