I was in a popular jewelry boutique last weekend. Actually having a bracelet made into a necklace. I overheard a sales associate tell a customer that a 1 carat diamond including the mounting would cost around $5,000 or $6,000. Is that possible for a very good quality? Sounds low to me unless diamond prices are down. Thoughts?
$5000 for a quality 1 carat diamond?
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Sounds close enough. Would be a basic setting though. You can get a 1 crt RB G/VS2 GIA excellent cut stone for about $5k. $6k is more realistic perhaps, but if they aren't ripping you off, you can get it for about $5k.
Now their idea of a quality stone may be different than ours! They may sell a .97 RB I/SI1 good cut from IGI, call it good quality and try and get $5k for it.
Now their idea of a quality stone may be different than ours! They may sell a .97 RB I/SI1 good cut from IGI, call it good quality and try and get $5k for it.
Really?
I just had to witness my brother purchase a ring recently for his finance (now EX). It was a 1 carat RB VS1 G color for 10K cash.
He tried to find cheaper, but apparently there's a 'list' that most jewelers go by for pricing. He struggled to find something cheaper but all the places were about the same.
I just had to witness my brother purchase a ring recently for his finance (now EX). It was a 1 carat RB VS1 G color for 10K cash.
He tried to find cheaper, but apparently there's a 'list' that most jewelers go by for pricing. He struggled to find something cheaper but all the places were about the same.
Going below VS1 and G will bring the cost down significantly, and the stone could still be very high quality. One of my friends recently got engaged with a 0.91 H VS1, very nicely cut for about $5K, but the jeweler also showed him 1.0 G SI1 stones in the same price range.
Oh, absolutely! In fact, the jeweler that my brother was dealing with even said that if you can find a GOOD SI where the inclusion is in a location that would be covered by a prong from the setting it's just as good as a VSI. It all depends on where that inclusion is. The only thing is that finding the right diamond takes time.
Of course, my brother wouldn't hear any of it (or rather either he or his ex were fixated on the 'title' of VSI).
But yes, I totally agree with you.
I'm just shocked to hear people can find diamonds brand new from a jeweler that's VSI and a high color for less than 10K. Of course, those prices are here in Canada, so I have no idea if the market is entirely different elsewhere.
I live in NYC and I hear that the diamond district has some of the best prices in the world. My DH's coworker was living in London when her DH proposed and they came to NYC for their ring because there was supposedly better pricing and better selection. I have no idea how much truth there is in that but I would assume they did their homework because she has a huge (read: 10 ct) rock!
The diamond district is a great place, but also a great place for people with egos to get ripped off. Most people who know something (but not enough) about diamonds assume that... Say, a GIA 1 ct G SI1 Triple Ex cut round diamond... is the same as any other GIA 1 ct G SI1 Triple Ex round, and they compare prices by certificates. That is just so insane. I work in diamond wholesale and I wouldn't ever consider doing that. Two diamonds with exactly the same specs will be traded (internally) and sold (externally) for different prices. Because every diamond is unique, and when one is better it costs more.
Honestly, for most people without a friend in the industry, independent retail stores are the way to go. Shop around. Ask for a discount, and negotiate. And make sure you look at the diamonds, not the certificates. There are great deals to be had but ultimately if you go out on your own I would recommend to anyone to be humble about it and be willing to spend a little more to get a better diamond (of any grade).
Honestly, for most people without a friend in the industry, independent retail stores are the way to go. Shop around. Ask for a discount, and negotiate. And make sure you look at the diamonds, not the certificates. There are great deals to be had but ultimately if you go out on your own I would recommend to anyone to be humble about it and be willing to spend a little more to get a better diamond (of any grade).
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Thanks for that feedback! I appreciate it (though I suspected that for a long time now). I appreciate your honesty because it's absolutely true. I think a lot of time it's about LOOKING at the diamond and having a chance to get some good feedback from others.
I'll privately PM you for your company
That's good to hear. But, is color one of those things that can deeply affect the look of a diamond?