Did we get ripped off??

posted 3 years ago in Rings
Post # 3
Member
3693 posts
Sugar bee
  • Wedding: August 2013

@emkat88:  I guess I’m confused because 5/8 is .625, so I don’t understand the math here. That chart from the FTC doesn’t include a tcw for 5/8 of a carat, and 5/8 falls right in between 0.5 and 0.75. I don’t understand what you mean by only paying for half a carat — a 0.5 carat stone will cost less than a 0.58 (or 0.63) carat stone of the same quality. If you can show us the ring, I think we’d have a better way to judge if you had overpaid.

Post # 4
Member
1018 posts
Bumble bee

@emkat88:  I don’t know much, but I don’t think you got ripped off. .58 would be about equal to 4.75/8 carats so I’m sure it’s just rounded to 5/8

Post # 6
Member
1503 posts
Bumble bee
  • Wedding: June 2014

Where did you purchase your ring? Is the center diamond certified? This chart is talking about a collective total carat weight (cttw) of two or more diamonds, not the carat weight of one stone (ct). If you purchase a ring with a center diamond that weighs 0.58 ct, then you should have paid for a exactly that, not the same price of a stone that weighs 0.50 ct.

Post # 8
Member
3693 posts
Sugar bee
  • Wedding: August 2013

@emkat88:  So the ring you bought was a solitaire with a center stone of 0.58 carats? Why wouldn’t they say that instead of saying 5/8 carat total weight? Usually that means there is more than one diamond in the ring.

There is no set price for a 0.5 carat diamond or a 0.75 carat diamond. As I posted above, if both diamonds are of the same quality (cut, clarity, and color), a 0.58 carat diamond will cost more than a 0.5 carat diamond. You can get an idea for what different sizes will cost here:

http://www.jamesallen.com/loose-diamonds/round-cut/

So for example, a 0.5 carat H SI1 GIA-graded excellent cut diamond costs about $1400.

A 0.58 carat H SI1 GIA-graded excelled cut diamond costs about $1700.

Post # 9
Member
1018 posts
Bumble bee

@emkat88:  I think it’s just that the fraction it was marketed as (5/8) is closest to it’s weight (.58) as far as the fraction value goes. Like I said, a diamond that weighs .58 would be -as a fraction- 4.65/8 so definitely more than half a carat but the fractioned size details aren’t as accurate 

Post # 10
Hostess
2787 posts
Sugar bee
  • Wedding: June 2013

@emkat88:  actually shouldn’t 5/8ths equal .63 like pp said…we’re does .58 come from?

 

Post # 11
Hostess
9892 posts
Buzzing Beekeeper
  • Wedding: May 2014

we were told about this practice at the store where we bought my ring (they claim they don’t do this – you pay for the exact size you’re getting).  My centre stone is 0.5ct and a tcwt of 0.79 (although I usually just say 0.8) – Jewellery stores can call a 0.45 a 0.5 etc…

If they told you it’s 0.58ct I wouldn’t worry.  What would worry me was if they told you it was an even number (0.75, 0.60 and you found out it was actually 0.58).  If they sold it to you as a 0.58 diamond then you likely paid the correct amount.

 

Post # 12
Member
5421 posts
Bee Keeper
  • Wedding: August 2014

@emkat88:  OK, so, I am REALLY confused right now.

If your OH purchased a 5/8 carat stone (which incidentally is unusual in and of itself; typically loose stones are in decimals eg 0.55ct/0.56ct/0.58ct/etc) rather than fractions, as decimals are way more accurate, and the size affects the price (even a difference of 0.01ct will make a difference to price if all other specs are the same), that equates to 0.625ct (as above), or, rounded up, 0.63ct. So, having a centre stone of 0.63ct but a TCW of 0.58ct makes no sense; unless the TCW of the setting is 0.58ct.

A picture would probably help.

As for whether you paid a fair price, the link above is good, also look at Blue Nile; that will give you a rough idea of how much you would pay for a similar stone (you would need to know the other specs though as they can make a big difference), though obv the setting costs extra on top.

Post # 13
Member
367 posts
Helper bee
  • Wedding: April 2009

@emkat88:  I’m really confused too. 5/8 ct = 0.63ct so the total diamond weight cannot possibly be 0.58ct.

Would you mind posting the link to the advertisement of your ring so we could have a look?

if indeed you have purchased a ring that is 0.63ct in total weight then it sounds like you havent been ripped off.

i want to see the ring anyway, cos i love looking at pretty rings.

Congrats on your impending engagement by the way…..!

Post # 14
Member
3598 posts
Sugar bee
  • Wedding: December 2011

If what you bought has a single stone, you should be charged for the weight of that individual stone, taking the quality of the stone into account.

That chart doesn’t mean that you round down and only get charged for a 1/2 carat.  The chart means that if a ring is marketed as “1/2 carat total weight,” that the minimum of stones of the whole thing can have as little as .45 carat.

 

Leave a comment


Sent weekly. You may unsubscribe at any time.

Find Amazing Vendors