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How To Choose Your
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Problem with mall jewelry stores: your loose diamond is usually sent out to be fitted to the engagement ring you choose, no work is done on the premises. I was nervous, now it's out of their control. What if it gets switched? For the same money, mall jewelers are 2-3 levels below in color and clarity, than what I bought at my jeweler. If you don't care about cost, mall stores are great, but if they tell you that you are getting a bargain or value, that's a lie. I know mall jewelers have high rent and mouths to feed, but so do you. Remember, you're there to buy a diamond, not fill the pockets of CB Richard Ellis. You are also paying for those fancy marble display cases. Look for specials if they have any, but you'll likely not find them on diamond rings. They might try to lure you into a purchase with 0 money down or "no payments until...", but financing diamonds like that just hides a bad deal, where you are spending so much for the engagement ring, of course they can give you a great payment plan. It's funny, the low prices you pay at sites like Blue Nile Diamonds, DiamondIdeals and Mondera are so low, and your appraisal is nearly twice what you paid for it, and close to the mall prices.
Be Suspicious Of 50-75% Off Diamond Engagement Ring Sales and jewelry stores using "codes"
This means their normal prices are way high. Were they so high priced that they had to drop 50% off to sell diamonds? Many stores
sell diamonds 200-300% over wholesale price. Buy from jewelers whose everyday price is low. I feel sorry for the suckers who bought diamonds
the day before a 50% off sale. Furniture stores do this too. Diamond sales are insulting. A "sale" means you paid too much for a diamond ring
the day before it went on sale. At outlet malls, I saw huge banners: "Blowout Diamond Sales!", or 50-75% off. These stores have the least talented
salespeople, the ones who lie the most. I was fuming in one store in the Sawgrass Mills Mall. The salesgirl said it was of "very high quality", one of
the best in her display. They all say that, maybe I looked stupid. She said it was "near white and very high quality". No mention of color or clarity grades,
she probably didn't understand them anyway. I used a loupe and saw at least 3 HUGE pieces of black carbon inside, air bubbles, and a crack on the top of the
diamond (table). I'm no GIA grad, but it was an I1 or I2, not "very high quality". I left, warning 2 other people on the way out. Some "discount" or
"wholesale" diamond jewelry stores in outlet malls play shell games with the diamond price. There's no number on the tag, sometimes there's just a code which
only the salesman knows. I don't recommend buying diamond rings from any jewelry store that uses codes. How do you know what the price should be? Will you get
the same price as me? It's not fair and opens the door to deceit. We looked at a diamond ring that we knew was worth $2000. The coded tag price read off by the
salesman was "$12,000". I panicked. The salesman said, don't worry, everything in this case is on sale 50% off this month. Stupid people might fall for that
and buy the ring for $6000, when it was only worth $2000. I feel for guys who cannot afford better diamond engagement rings because the under $4000 market is
where much of the misrepresentation takes place. Some jewelers also buy diamonds at estate sales. They might remove the diamond from the setting to sell it
loose. When they buy diamonds from estates, they low ball the estate, then sell the diamonds for as much profit as they can.
Financing your wedding rings
I don't recommend financing diamond wedding rings, if you get scammed by the jeweler on your wedding ring, you already signed a loan and are committed. Charge it
instead, but not on mall store credit cards with 19-26% APR. Use your own card and pay it off immediately or a few months.
BlueNile
has financing from MBNA. Their online application provides up to $25,000 in
financing instantly. Avoid paying cash at diamond jewelry stores, it can't be
traced, but credit card transactions can. If the deal goes south, you'll never
get your cash back, but you can dispute a credit charge. Leave your cash safely
in the bank, pay your credit card bill in full. The credit cards charge jewelers
3-6%, so some jewelers offer you a lower price for cash. But if something goes
wrong, they already have your money. Do you trust them? If a store requires cash
or check only, just leave. Any legitimate jeweler takes credit cards.
Warehouse stores have very limited but fairly priced diamond jewelry. In Costco and Sam's Wholesale Club, diamond engagement rings appraise double above what you pay for it, as people told me about appraising their diamond jewelry after buying it at Costco. Salespeople at mall stores tell you the diamonds at wholesale clubs are poor quality cheap ones, a tactic to justify their higher mall prices, a feeble attempt at a Jedi mind trick. A well cut Color G VS1 diamond is still a color G VS1 whether you buy it at the mall or Costco. At least Costco tells you in writing what the 4 C's are. Wholesale clubs and mall jewelry stores buy diamonds from basically the same wholesalers. If you know what you're looking for and don't need help, this is perfect.
Diamond Jewelry at Department Stores
Sometimes you get someone who knows their stuff, sometimes not. You'll often find their diamonds are overpriced and a few levels lower in quality than you would like.
Again, you're paying full retail in a high rent mall. Be aware of Sunday ads for department stores claiming discounts on jewelry, all the stores I went into had no
sales on diamond engagement rings.
Jewelry Stores In The Caribbean Islands
Don't do it! Everyone cruises the Bahamas expecting to get booze, perfume, watches, and precious gems at discounts. I have heard from many people that got burnt
royally, as there are no laws protecting the American consumer in the islands. Cruise ships that dock at port and take you to specific shops like to tout that they
are the best shops that you are going to. But remember shops paid for these arrangements, and the ads in the flyers in your stateroom. You buy a bargain emerald in
the Bahamas, bring it home for appraisal, and discover it belongs at K mart in the costume jewelry section. Unless you go with a certified gemologist who knows what
they are doing, and knows the cost, do not buy gems in the islands. Not in a million years.
Don't buy the first diamond engagement ring in the first jewelry store see, shop around to compare prices, knowledge and lies. Buy a loose diamond, outside a setting, so you can view the diamond properly. You'll choose the setting after. Ignore salespeople Jedi mind tricks, like "this diamond won't be here when you come back." Why not? It was here when you walked in? It's highly unlikely of all the rings in there, a buyer will come in the next few days, and buy your wedding ring. This sales tactic is VERY powerful, you must resist it. There's a reason for everything and if you walk out, it means there's a better wedding ring somewhere else, for a better price. Ignore car salesman tactics, they tell you that you won't find it cheaper anywhere else. Every time in my life that I heard that, I have proven them wrong. I have not failed yet, and neither will you. Surf the diamond buying sites like Blue Nile, DiamondIdeals and Mondera first to get a feel for what diamond pricing and ring styles are. Use those prices as the gauge to against jewelry stores. These quotes will be the standard that others must meet or beat, put up or shut up, money talks, B.S. walks, no more shell games. Without these quotes as a reference, I guarantee you'll pay too much at the jewelry store and lose thousands. I would not even recommend going diamond shopping without using these sites first. Most guys report back to me of their best diamond ring deal was purchasing online.
You don't walk into a jeweler and say "I have $5000 burning a hole in my pocket, what can I get?". They'll take you over to the $5000 rings, when you should have gone to the $6000 rings and talked them down to $5000. Tell them the type of ring you want and go from there. Do NOT give them a figure of what you are willing to spend. You did your homework before shopping, so you know what type of diamond you want, and whether you can afford it. Do NOT let the jeweler choose the diamond to fit you budget. You know your budget, you know what diamond you can get, just go get it, and negotiate the price down. When you balk at the price, they'll tell you the ring adds a lot to the price also. That's hogwash. Most basic ring settings are worth $300-$500 max, don't let them fool you with this Jedi mind trick. You'll spend more on gas driving around town shopping for the ring, than you will on the ring itself.
Don't Fall For The Diamond Ring Category Shift
Here's how this diamond ring shell game works: You want to haggle down from the retail price of $5500 by saying you don't think that diamond is worth $5000. So the
salesman takes the ring back and finds a lesser grade diamond for $5000, acting like he's doing you a favor by finding cheaper stone. Most people don't notice the
shift. They are not giving you a bargain, you are still paying retail price, it's just that it's the retail price of a cheaper diamond. What you really wanted
them to do is drop the price of the $5500 diamond, not shift to a cheaper diamond. A test I use to gauge their honesty is ask them if they'll show me the Rapaport
diamond pricing sheets. If they say they do not know what Rapaport sheets are and act ignorant, leave immediately, they are lying. How can educated consumers like
you and me know about Rapaport diamond price reports, and the "experienced" jewelry store salesperson does not? If they don't know about this, what do they
know? I'm not hanging around to find out. Many visitors at my other site CarBuyingTips.com
report that car dealers who lie about holdback will try all sorts of other scams too. The response you should get from the jeweler is either yes, they will show you
the Rapaport sheets, or no, they prefer not to show it to customers. At least they are honest about it. There is no way to get wholesale diamond prices on the web.
If I could list wholesale diamond pricing online her eon BridalTips.com, I'd be as rich as DeBeers.
Some salespeople have little knowledge in diamonds, which translates into misrepresentation. You don't want to hear that "this is the best diamond in the case", or that it has excellent clarity. You want a salesperson who understands the specs and knows how they affect the quality of your diamond. Here's a few thinking man's diamond questions to ask in order to test their knowledge:
1) What is the effect of a girdle that's too thin or too thick?
Answer: Too thin, it's hard to set, and will chip. If it's too thick, it makes the diamond look small and less brilliant.
2) What is the effect of a crown that's too thin?
Answer: Less sparkle.
3) What is the effect of a pavilion that's too shallow?
Answer: Fisheye pattern when looking down on the diamond, like a hazy ring.
4) What is the effect of a pavilion that's too deep?
Answer: Large dark pattern when looking down on the diamond.
If they cannot answer these basic questions about diamonds, what do they know? Here's what I know: you don't want to buy a diamond from them.
This is where the Diamond Ring Buying Guide book excels. The photos help you spot inclusions, fakes, chips, and other problems. Dozens of photos of good and bad diamonds train you in minutes to weed out the riff raff. Compare several grades of clarity and color to get a feel for the differences. Ask for the GIA certificate for the diamond to verify the inclusions on the certificate match the diamond. Verify the cert date is less than 1 year old.
Ask for a clean BLACK 10x magnification Loupe. Unscrupulous jewelers trick many suckers with a 2-3x or a 5x loupe, they don't want you to see the inclusions. They can't see the inclusions, and think the loose diamond is of high quality, but they are not viewing it like GIA recommends. To correlate what you see with GIA diamond grading practices, you must use a 10x loupe, no excuses. If they don't offer you a loupe OR microscope, it's time to leave. There is no reasonable explanation for any diamond jeweler to refuse access to a loupe. Don't negotiate price until you examine the diamond for 5-10 minutes, and are satisfied with its quality. Professional appraisers take over an hour. Ask for locking diamond tweezers that hold the diamond in place. Make sure the diamond is clean before you view it, sit down, and be comfortable. Put your elbows on the table for stability, keep the loupe a few inches from your eye, and don't block the light with your head. Hold the diamond directly in front of you letting light enter it through all angles. Examine each facet of the diamond. Make sure when viewed from above, the diamond's table is centered and the diamond is perfectly round, not off round. The girdle should be thin to medium, not too thin, and not thick. The girdle should be straight around the circumference, not wavy. The bottom of the diamond should come to an exact point. Do not ignore the "proportions" and "finish" data on the GIA report as many buyers do. They are just as important as color and clarity. Ask to see the diamond under UV lamps to verify there is no fluorescence blue glow.
Examine the bottom of the diamond for blemishes also. If they tell you it does not matter, they are either lying or just plain stupid. A chip on the bottom prevents light that enters the top of the diamond from refracting properly off the pavilion edges. Any artifact that effects the exterior surface of the diamond will effect it, no matter what any salesman tells you. Look for pits or scratches, or nicks on the top (table). Then look at how the edges and corners look. Are they perfect and sharp, or chipped and rounded? Hold the loose diamond in front of you and look straight into the center and see if there's any cracks, bubbles, black spots, or clouds, dark shaded areas, or fisheye patterns. Improperly cut diamonds have large, dark shaded areas. Good cuts are brilliant with no dark shades. Try to figure out where on the clarity scale they fall. Is it an I1 or a VS2? It should be on the tag. Ask for a color stone sample strip. Most jewelers have them. Be suspicious of a jeweler that makes up excuses why they do not have a color stone strip. Why don't they want you to see the color? So they can misrepresent the stone and you cannot tell the difference. You should be able to tell if a stone is included or slightly included. Your goal is to prevent the jeweler from selling an I2 stone as a VS1, saying "it's near perfect", and "one of the best in our display case", when it is clearly not.
Try to view the diamond under a gemoscope binocupar microscope with DARK FIELD illumination activated. Most people, including some jewelers don't know how to properly use a loupe, the scope removes the unfair advantage a trained jeweler has over you. If the jewelry store does not have a scope for you to use, ask "why not?" If they have one in the back for them to use when they buy diamonds, you should have the same benefit.
Don't worry. That's what the online GIA certs are for. You and I really are not diamond experts and need years of experience to really tell if a diamond is good, so it's safe to rely on the online GIA certs at honest sites like BlueNile, DiamondIdeals and Mondera. Besides, you have generous money back guarantees in case you're not satisfied with your diamond appraisal.
This is your worst fear. How do you know they are not selling you a fake diamond glass or cubic zirconia? There are some simple tests. With cubic zirconia, you can see through it like a window. With a properly cut diamond, you can't see the bottom of a diamond looking from the top, as the refraction combined with the cut edges scatters light everywhere. Place the diamond on a newspaper and if you can see the print, it's cubic zirconia. If you cannot see through to the bottom of the diamond at all, it's real. Another simple test is to view the diamond in front of something black. If it's cubic zirconia, you'll see a lot of black. If it's real, you won't see black because a real diamond scatters light better. If the diamond is glass, you'll see numerous air bubbles at 10x. If the diamond is very cheaply priced, it's probably cubic zirconia. That's why they are used, to make affordable "diamonds" that most people do not know are fake for those who can't afford real diamonds. Also, real diamonds have the bottoms exposed, and fakes are usually enclosed. Sites like Blue Nile, DiamondIdeals and Mondera, would not sell a fake diamond as real. Any honest site would label it as cubic zirconia. The Diamond Ring Buying Guide book has tons of great tips for spotting fakes.
Some diamond engagement rings cost as much as a car. That's why some jewelers are like car salesman. buyers know even less about diamonds than cars. There's plenty of places to get info on cars, but few for diamonds. This makes you a sitting duck for unscrupulous salespeople. Some jewelers complain that we are trying to scare you with our warnings. You bet we are, because if you are not cautious you'll get scammed or make a dumb mistake. I heard from people that have had diamonds switched on them. Sure most jewelers are honest but there are enough bad ones in the mix that you have to keep your guard up. Almost everyone I know knows someone who had a diamond switched, so this is not anecdotal evidence. Jewelers tell you this is an urban legend. All they know is their store, and don't have to endure all the tricks that you and I will come across. Here in Florida we are always reading about jewelry exchanges getting raided and charged with crimes like diamond switching. Here's some stupid sales tricks they'll try on you:
"This is as close to white as you can get, it's the best one in our display case."
Translation: This is as close to white as you're ever going to get loser, it's really yellow.
"Sorry, our microscope is busted and the other salesman has the 10x loupe"
Translation: We don't want you to be able to see the inclusions in the diamond". Just look at it under normal light, you're a dumb
novice and would not know what inclusions look like anyway.
"This is my favorite diamond in the store, I wish MY boyfriend would buy me one this nice".
The female salesperson models the ring for you and practically has an orgasm over how beautiful it is. And the Oscar goes to.... Her
subliminal comments trick your brain into thinking your bride will love you more if you buy this overpriced ring. The truth is, they deal with so many rings every day,
the stone has no effect on her. It will be her favorite ring when she gets the commission check.
"This ring will appraise at least 30% more than what you'll pay for it today."
At honest jewelers this is true. At dishonest jewelers this is a lie. You'll see in my link to ABC's Prime Time story below,
unlucky buyers bought rings that appraised at 30% of what they paid for it. Yes this happens all the time, it didn't take Diane Sawyer long to stumble onto that
scam in the New York Diamond District.
The "New York City" Diamond Pricing ScamI came across 2 jewelers running this scam while buying an engagement ring. One store was in the Sawgrass Mills Outlet Mall in Sunrise, FL. You should walk right back out of any jeweler that does not have a real price tag. How The Diamond Pricing Scam works N E W Y O R K C I T Y Some examples you'll see on the "price tag": If the lowest price they should negotiate down to is $5500, you might see this on the
back: How To avoid Diamond Pricing Scam |
If you buy a loose diamond, you'll need to choose a ring for it. I recommend 6 prongs on the ring instead of 4, especially on an expensive round diamond. Some jewelers say 6 prongs make the diamond look small, but how good will it look if it's not even there! With 4 prongs, if one prong breaks off, kiss that puppy good bye, there is a 180 degree exposed side! You don't have to buy the ring at the same store you buy the diamond, and most jewelers will remove a diamond out of a setting and into another. You can get a platinum diamond ring if you like. Platinum engagement rings, are more expensive than gold ring settings. Silver rings look cool too, and in fact the ring I originally bought was a combination of gold and white gold. You can also get a ring that has "baguettes", which are smaller square shaped diamonds mounted into the ring. The fancier platinum, multicolor settings, with additional stones can drive the cost of the ring up from $500 to thousands, but they are stunning. You might prefer a solitaire diamond ring, which is just a single diamond by itself. For wedding bands, you and your bride should choose rings together, and they don't have to match. Some fancy engagement rings have a corresponding molded wedding band, made to fit against the engagement ring. You can get platinum wedding bands, gold wedding rings, silver wedding bands, whatever makes you happy. White gold wedding rings are available too, they have a unique look to them. Some people like to get 2 tone white gold and yellow gold on their wedding rings.
Closing The Deal
Before you sign on the dotted line, make sure they accept credit cards, do NOT pay cash, it's not traceable. Before you buy,
get their guarantee IN WRITING. Ask to see the WRITTEN returns policy before you sign, not the spoken policy, and accept NO excuses.
Look all over the store and the cash register for signs describing returns policies and guarantees, and other fine print.
If they don't put it in writing, it means they won't do it. Do they have a guarantee that your diamond ring will appraise higher than what you paid for it? How long is the warranty? Some jewelers have free lifetime warranties if the prongs break and the diamond falls out, a highly unlikely event. Read and understand the warranty and it's exclusions. You should never have to pay for this warranty. If your diamond appraises less than you paid for it, can you bring it back for an exchange or full refund? Find out now, not later. Make sure the invoice describes your diamond accurately, including the certificate number, weight, cut, clarity, color and proportion values. If values are left off, do not sign, no excuses, even if they say it's on the GIA cert. Make them note on the invoice that the diamond has not been treated to hide inclusions. Make them indicate your diamond will be mounted with 6 prongs and not 4. Ask for a written appraisal of the diamond at no extra charge. This is for your own sanity, it's not useful for insurance purposes, your insurer wants a 3rd party appraisal. Get a firm date on when your diamond engagement ring will be ready to be picked up. Allow up to a month in the mall stores, no one is ever on time, no matter what they tell you. A good jeweler that does their own in house work should complete your ring in one week. Be sure to get a receipt! Then immediately have it appraised by an impartial source and don't let it out of your site.
Don't Buy That Diamond Engagement Ring If...
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Once you buy your diamond ring, get it appraised by an independent third party to be sure of its value. Mayor's Jewelers gives honest appraisals. They are usually booked for 2 weeks on appraisals, so plan accordingly. It might cost over $100 to have a ring appraised, but it's required for insurance.
APPRAISER TIP: Choose an appraiser that charges a flat rate, not based on a percentage of the appraised value or weight. Otherwise you'll find out "your diamond is worth $50,000!". You cannot get an honest appraisal fees depend on the value of the appraisal. The appraiser will give you a photo of your engagement ring for insurance purposes, and a written report, mailed to you a week later. It describes your ring and the appraised value. As soon as you get your appraisal, get the ring added to your insurance policy. Don't assume your homeowners policy or renters policy covers diamond rings, I can assure you they don't. Never assume that any insurance covers a loss until you verify it with the insurance company. Too many people don't bother to pick up the phone and make a 5 minute call to verify. Then the ring gets lost or stolen, and they are out of luck because they think that insurance is some umbrella that protects you from everything in the world. Diamond rings require a separate insurance "rider" policy, and an appraisal and photo of the ring. Basic renters insurance does not cover them. International Gemmological Institute also does appraisals and they have a patented 'Laserscribesm" process for diamond laser inscriptions on the girdle. Typically you want the certificate number engraved on the girdle. This acts as a diamond switching prevention, as well as proving you own the diamond if it's recovered after it's lost or stolen. From what most of our visitors tell us, diamonds purchased at Blue Nile, DiamondIdeals and Mondera appraise nearly twice what they paid for them.
If you have to sell a diamond ring, DO NOT sell it on consignment! My sister put a $17,000 ring on consignment with a loser jeweler in Austin, TX., who made rosy promises of how easy it would be to sell and how much money she would get. But months went by and no word, and when she finally called up the jeweler, she was told the ring is sold and the money is on the way. But she got no money. Repeated calls over several weeks were not returned, now she can't get her ring back. She retained a lawyer to sue the store, got the police involved. You don't need that grief. So no matter what they promise, don't leave your diamond ring on consignment. They can switch the diamond, tell you the ring never sold. If you want to sell your diamond, sell it on eBay, just beware of escrow fraud scammers that try to get you to bypass the internal checkout system to use an outside escrow service to steal your diamond. Read our Guide To Avoiding Escrow Internet Fraud. If you sell it to a jeweler, a wholesaler, or whomever, get your money and leave. Don't do any barter deals, or any other stupid non standard business deals, don't trade it in for another diamond, just get money for your diamond, and get the hell out of Dodge. But never leave your jewelry on consignment. Just like with car buying, NEVER combine a trade in with a purchase, there's too many cash flow shell games that can be played on you.
How To Prevent Diamond Switching
If you have to leave your diamond overnight and out of sight for cleaning or setting, the only way to prevent switching is to KNOW YOUR DIAMOND!
Bring a photo copy of the GIA cert with you and verify that you and the jeweler agree it's the same stone. When you come back to pick it up, check it against your
GIA CERT. If you had laser etched ID on your diamond's girdle edge, look for it under the loupe, and if you think the diamond has been switched, call the police
while you are still in the store. Mistakes happen, but most likely it was a deliberate switch. Don't be lured by free or too good to be true cleaning and setting
prices, go only to a jeweler whose reputation you know well.
Where to shop for diamond rings onlineRead our reviews of these sites in Chapter 1 Of This article. |
Federal Trade Commission Article: Guides for the Jewelry,
Precious Metals, and Pewter Industries
Everyone should read this one. FTC tells jewelers what they can and cannot say to sell you jewelry. It has examples of "misuse" of certain words. See if the jewelers
you visit violate these FTC laws. I'm sure you'll find plenty.
Federal Trade Commission Article: "All That
Glitters"
An article on the FTC's web site with a lot of quick tips on gold and platinum jewelry, diamonds, questions to ask, more.
We want to hear from you, buyer or jeweler! Let us know good or bad about your diamond buying experience!
Please don't email me asking me "I have a 1.5 Ct, D-VS1, how much is my diamond worth?" I'm not a certified appraiser, I'm 3000 miles away, and I can't see
the diamond, no one could grade it without seeing it that's what certified appraisers are for. When you buy your diamond, please email us back and let us know all the
specs and pricing about it so we can add it to our Diamond Deals Database where visitors email
us the data, specs, and pricing of a diamond. This is useful as a rough pricing guide for people to use as they shop around. Send us all the information that we need
to fill the table. Contact Us (Click Here) via the email form on our
sister site CarBuyingTips.com.
The information on this site is Copyright © 1996-2008 ConsumerNet, Inc. and is solely for your private use in wedding planning. You may link to us or make printouts for your own personal use, but no parts of these pages can be reproduced, sold or transmitted in any form without our written permission.
