You posted no links or photos, but here is some advise. BTW, I am a GIA certified appraiser, gemologist, and goldsmith.
The best diamond for the dollar is a certified stone, GIA is the best cert, EGL is second best. All other certs are a selling tool, and not of great worth.
A GIA stone will cost about 10% to 15% more than an EGL stone, because the grading is stricter. They both use the same terminology, but a GIA stone graded as SI-2/I color will often get an EGL grading of VS-2/G......Same stone, just sounds better.....but quite misleading. There also is a lot of variance in EGL certs , while all GIA certs will be much tighter to the grading rules. Two SI-1/H EGL stones can be a lot different. Two GIA SI-1/H diamonds will be nearly identical.
The grading of diamonds is done with microscopes and magnifier loupes. All grades above "I" should have inclusions that are not visible to the naked eye. In color, the scale goes from D up through the alphabet. All stones below "I" should look white to the eye. The yellowing of the color does not get noticeable until "K". The best bang for the buck is a SI clarity and an H to I color. You can't see the difference between a SI-1 and a VVS-1 with the naked eye, but the price can be 50-100% higher. Similarly, a D color diamond mounted in a ring does not look much different to the naked eye than an H color, but costs a lot more.
In size, carats are weight. The diameter of a stone increases in proportion to the weight, but it is not a linear proportion. A 3/4 carat stone is 6mm (approx.) and a 1 carat stone is 6.5mm. Double the diamond weight and you only have a8mm for a 2 carat stone. The prices go up as you cross the weight thresholds, so a stone just below a threshold is going to be virtually the same size in mm, but will be cheaper per carat. Thus a 1.00 carat diamond will cost 10% more than a .97 carat, even though the weight is only 3% more. Look for stones just below the threshold.
Look for stones that are of good proportion.The sparkle and "fire" of a diamond is a product of the proportions. A poorly cut stone may look dull. Let your eye tell you what looks good, but check the cert to see if the proportions are good to excellent.
Any reputable company will allow you to have a diamond independently verified and returned if you are not satisfied. If there are any restrictions ( besides time) on this, don't buy from that seller. Take the diamond, preferably unset, to a gemologist and get the cert verified. There is usually a small fee for this, but when spending thousands of dollars, it is wise to get the stone verified that it is what the papers say it is.
It is best if buying a diamond online to buy a loose stone. Have it verified and set by a local jeweler, or send it to one you know and respect. The mountings can be picked out from the online catalogs if needed. A local jeweler is best if you plan on staying in the area, because he will service the ring. He should check and clean the ring for free as often as needed, and minor repairs and adjustments should be free.
When buying online, caveat emptor. You can't look at the stone in any different light, turn it around, or compare it to another stone. Blue Nile and the other sites are great for a deal, but they only sell the stones, you have no personal relationship with the seller once the sale is over.( actually, Blue Nile isn't even the seller, you are just buying a stone from one of thousands of sellers who put their stones on Blue Nile. You don't really have any idea about the stones source.) Any future issues, once the sale is closed, are your problem. Dealing with a local jeweler who has a good reputation is perhaps a few dollars more, but you get the after sales service and the reputation as part of the deal. In ten years will your wife display the diamond and proudly say, "My husband saved a few bucks and got my diamond online." or " My husband got my diamond at Solomonsky's Jewelers." True, it is only worth so much, but it is something to consider.
Have the ring appraised and put it on your homeowners policy as a separate rider. It costs about $11 per thousand of value to insure the ring. Money well spent. You don't need to insure the ring for the amount of the appraisal if it is significantly higher than the retail price. Just because the appraisal is $8,000 ,doesn't mean you can't insure it for $5,000 if you know that is the realistic replacement value. The insurance company isn't going to pay you more than they can replace the ring for, anyway, so you are paying 8K in premiums, and only will get 5K in return if damaged,lost, or stolen. If you do not separately insure the ring, you are only covered by a small amount on most homeowners policies, and that is only for casualty. It does not cover damage or loss....just fire and theft. Most policies have a limit of from $500 to $2000 , and that is for all jewelry lost, not per piece.
I don't try and undersell ,or steal away a customer, but feel free to send me an email and I will see what I can do for you, and will be glad to advise you on any price you want checked.
sapelt@cox.net
For those Forumites who may be thinking about getting engaged, or need a nice gift for Christmas, I always have some 1/2 carat range diamonds set aside that I keep for friends and family. These are stones I obtained at great prices, and keep to pass along to friends.
I also have some nice rings, ear rings, and antique pieces set aside. Send me an email if you want more info.
