Post # 1
My fiance bought me a beautiful ring – I am very happy with it. He left the insurance information on the table this morning, and I “happened” to glance at it. (Would you be able to resist?) I was shocked to learn it cost $14000 for the diamond, and $2500 for the band! I guessed it was somewhere between 8-10K for the whole thing! The specs are listed below. What do you bees think? Was he taken for a ride? Neither of us know much about diamonds…
Round brilliant diamond, 1.26 carats, excellent cut grade, F color, SI1 clarity, polish: excellent, symmetry: excellent, flourescence: none.
Band is a platinum band, four prong head, fourteen round brilliant diamonds weighing .08 carats total, grade F-G in color, and VS-SI in clarity.
Post # 3
I think he actually got a good price for it. But that will also vary depending on where you are located.
Post # 4
My ring is good quality…2ctw and my FI paid in the ballpark of $11k for it….the ring was appraised at $17,500 but the reality is we would never, ever get near that price if we every tried to sell it for whatever reason. It may seem a big steep…
Post # 5
Hmm, a diamond with those specs should be a hair under $12,000 (online). But are you sure you saw the receipt and not the appraisal? Appraisals are often inflated.
Post # 6
Yes are you sure you say the receipt and not the appraisal? Seems a bit inflated to me
Post # 7
Are you sure it’s not what the ring appraised for instead of what he paid? Rings often appraise for much higher than is paid for them. For the specs you’ve listed, 14,000 does sound high for a diamond like that, but the markup doesn’t sound ridiculous if he got it at a brick and mortar store. Looking at Blue Nile, similar diamonds are in the 11-12K range. Like I said, though, if he bought it at a brick and mortar store, the price would run higher than buying online, so 14,000 doesn’t sound ridiculous. Also, your band is diamond and platinum, which will run on the higher side.
Post # 8
It may also depend on the source of the diamond. I know at our jeweler we paid more for a Canadian diamond than we would have for a diamond from an unknown source.
Post # 9
You said 14K for the diamond and then u said 8-10k for the whole thing so im confuse here.
Lowest price online is around 10K for your diamond, and if you brought in B&M store I wouldn’t be surprise that you pay couple thousands more.
Apprasial usually run higher than you brought because for insurance purpose and they need to cover their cost as these things tend to increase their price a lot.
Post # 10
Thanks for all the input! I believe I was looking at the appraisal value, not the receipt. I’ll have to do a little more digging!
Also, @Lexii, $8-10K is how much I had guessed it cost before seeing any paperwork.
And yep, he bought it at a B&M store in DC, which I believe is reputable.
Post # 11
that sounds like a pretty good deal. once you hit the 1.0 carat mark, prices increase significantly. for example, a .96 carat diamond would be significantly less than a 1.1 carat diamond even though there wouldnt be as significant visible difference.
my diamond has the same specs as yours although it is VVS1, and it was only 6k. However, it is under a carat (.81) amd was purchased through a wholesaler.
Post # 12
@mrslobster: He may have just gotten it appraised for that amount–that may not be the amount he actually PAID
My ring has very similar specs–same size–color is H though, but clarity is the same
He went to the diamond district and ended up paying 5k for the diamond in the setting
Sure he got a REALLY got price because they’re competitive there–but I doubt your fiance really paid that amount–that is probably the appraised value
Post # 13
It sounds about right if that is what is appraised for. What he actually paid for it is going to be less than that by a significant amount.
He did well by the way! Sounds like a great stone!
Post # 14
I have the exact same stone specs and mine is 1.8 ct center stone, I have diamonds all around the setting and I paid 7k all together.. That sounds like the appraisal price.
Post # 15
Yup, must be appraisal cause bluenile is telling me your stone should be about $10k
Post # 16
Seems a bit overpriced, but if you don’t know a lot about diamonds, you can easily get stuck paying more. And ditto to PPs, it may have just been the appraisal?