Quinn
05-04-2005, 01:39 PM
Fair warning, this is a long post.
Two years ago when I became engaged my fiance and we decided upon a modest budget to buy a ring. We had both just graduated from college, money was tight but future incomes looked good. We decided upon an amount and then, being modern well educated people, started researching diamonds on the internet.
I came across several sites that were packed with information. There were lots of disscusions on buying diamonds loose over the internet and having them sent to you, saving a huge amount of money. It seemed to make sense. By cutting out the middleman I felt I was beating the "system"
I contacted several online dealers. They provided me with huge lists of stones they had available. The ones that I wanted always seemed to be unavailable or sold out quickly. I attributed this to being a very hot market and that they must be selling out their inventory quickly. I was assured that each stone would come with all the latest documentation, so I felt very comfortable about my purchase.
After several attempts at purchasing a stone and getting the same old "already gone or no longer available" I purchased a 1.08 ct princess diamond. It came with an EGL certificate. I had saved $865.00 over what the same stone would have cost at my local jewelers.
I then purchased a nice 14 kt gold setting and had it sent to my home, again saving a percentage over what my local jeweler could sell it to me for. I was elated!
However there I was, a diamond in a folded paper and a setting. I took these to several of the jewelers in town to have it set and fitted. Each place declined. They stated that for insurance reasons they would only set their own diamonds. One place mentioned that I should send it to whoever provided the stone.
I finally found a store that would set my diamond but they wanted $480.00 to set the diamond and $40.00 to size the ring. They also pointed out that the heading I had with the ring was not right for a princess diamond, more money needed. I said ok, they told me to come back in 4 days.
3 days later I get a phone call. There has been a problem. My diamond sustained a chip in the process of being set. A rather large chip. It also now had a rather large black streak in it. The store had the diamond sent to an independent appraiser prior to calling me to see the extent of the damage. He stated the damage was possibly due to strain on the stone, the "streak" was from laser filling, a recut would yield about a .64 ct diamond. I was shocked.
I drove over to the store to see the remains. The diamond had a rather large hunk out of one corner and a very noticeable black streak. The benchman said the black streak appeared as soon as he put the torch to the stone to adjust the prong. He stated he had a light hand however upon putting pressure on the prong and the heat the stone just chipped. He was very sorry. The jeweler who was there suspected that the stone had been fracture filled after the EGL report to have it look nicer.
The EGL certificate from 2002 showed the diamond as an SI2 however when I viewed the stone I couldn't see anything. It was bright and sparkly.
Here I was with a broken stone. The store that set the diamond said they would not give me the money for the stone. That I had assumed the risk since I had bought the stone from another source. I contacted the person from online that I bought the stone from. He said all he was was a drop-shipper. He stated he had never even seen the stone. He stated no refunds since I had had the stone to another jeweler who broke the stone.
Since I don't own a home I was not insured. I was planning on insuring my jewelry but wanted to have it set first. I was heart broken.
My future in-laws came to the rescue. They brought me to their jeweler who lives in their town. He had several stones in his case that met my needs. They all came with the paper work. I was now very, very paranoid after this first fiasco. I no longer trusted anyone in the jewelry world. He took a LOT of time with me. Let me compare each stone under his microscope that he had on his desk. He answered all of my questions.
I picked a sweet .94 ct diamond, princess cut, G color, VS 1 within my budget. Within 5 hours the diamond was set on my band in a platinum head. It was perfectly sized to my finger. He included the setting in the package. It came in a wonderful ring box.
It all went so smoothly. Instead of the hastle and confusion I felt with the first diamond I felt cared for. My ring sparkles and shines happily on my finger and each time I see it I smile. My in-laws family jeweler is now my family jeweler.
I chalk the first experience up to my greed. I thought that by going the unconventional route I was somehow getting a better deal. It bought me heartache and over $5600.00.
Quinn
Two years ago when I became engaged my fiance and we decided upon a modest budget to buy a ring. We had both just graduated from college, money was tight but future incomes looked good. We decided upon an amount and then, being modern well educated people, started researching diamonds on the internet.
I came across several sites that were packed with information. There were lots of disscusions on buying diamonds loose over the internet and having them sent to you, saving a huge amount of money. It seemed to make sense. By cutting out the middleman I felt I was beating the "system"
I contacted several online dealers. They provided me with huge lists of stones they had available. The ones that I wanted always seemed to be unavailable or sold out quickly. I attributed this to being a very hot market and that they must be selling out their inventory quickly. I was assured that each stone would come with all the latest documentation, so I felt very comfortable about my purchase.
After several attempts at purchasing a stone and getting the same old "already gone or no longer available" I purchased a 1.08 ct princess diamond. It came with an EGL certificate. I had saved $865.00 over what the same stone would have cost at my local jewelers.
I then purchased a nice 14 kt gold setting and had it sent to my home, again saving a percentage over what my local jeweler could sell it to me for. I was elated!
However there I was, a diamond in a folded paper and a setting. I took these to several of the jewelers in town to have it set and fitted. Each place declined. They stated that for insurance reasons they would only set their own diamonds. One place mentioned that I should send it to whoever provided the stone.
I finally found a store that would set my diamond but they wanted $480.00 to set the diamond and $40.00 to size the ring. They also pointed out that the heading I had with the ring was not right for a princess diamond, more money needed. I said ok, they told me to come back in 4 days.
3 days later I get a phone call. There has been a problem. My diamond sustained a chip in the process of being set. A rather large chip. It also now had a rather large black streak in it. The store had the diamond sent to an independent appraiser prior to calling me to see the extent of the damage. He stated the damage was possibly due to strain on the stone, the "streak" was from laser filling, a recut would yield about a .64 ct diamond. I was shocked.
I drove over to the store to see the remains. The diamond had a rather large hunk out of one corner and a very noticeable black streak. The benchman said the black streak appeared as soon as he put the torch to the stone to adjust the prong. He stated he had a light hand however upon putting pressure on the prong and the heat the stone just chipped. He was very sorry. The jeweler who was there suspected that the stone had been fracture filled after the EGL report to have it look nicer.
The EGL certificate from 2002 showed the diamond as an SI2 however when I viewed the stone I couldn't see anything. It was bright and sparkly.
Here I was with a broken stone. The store that set the diamond said they would not give me the money for the stone. That I had assumed the risk since I had bought the stone from another source. I contacted the person from online that I bought the stone from. He said all he was was a drop-shipper. He stated he had never even seen the stone. He stated no refunds since I had had the stone to another jeweler who broke the stone.
Since I don't own a home I was not insured. I was planning on insuring my jewelry but wanted to have it set first. I was heart broken.
My future in-laws came to the rescue. They brought me to their jeweler who lives in their town. He had several stones in his case that met my needs. They all came with the paper work. I was now very, very paranoid after this first fiasco. I no longer trusted anyone in the jewelry world. He took a LOT of time with me. Let me compare each stone under his microscope that he had on his desk. He answered all of my questions.
I picked a sweet .94 ct diamond, princess cut, G color, VS 1 within my budget. Within 5 hours the diamond was set on my band in a platinum head. It was perfectly sized to my finger. He included the setting in the package. It came in a wonderful ring box.
It all went so smoothly. Instead of the hastle and confusion I felt with the first diamond I felt cared for. My ring sparkles and shines happily on my finger and each time I see it I smile. My in-laws family jeweler is now my family jeweler.
I chalk the first experience up to my greed. I thought that by going the unconventional route I was somehow getting a better deal. It bought me heartache and over $5600.00.
Quinn