There are NO REAL deals on Diamonds

Estate Ring

I just received a picture from a dear friend (thanks Will) on a diamond ring.  He said here is the picture of the ring it is in 18kt yellow gold and it is 2.00 carats in the diamond. The color is K and the clarity is SI2. The price is $6,000.00 Here is the problem with buying something on-line or from a so called dealer/wholesaler:

#1 What is the real color?

#2 What is the real clarity?

#3 Who is selling the ring an individual or a so called wholesaler?

#4 If it is an individual why are they selling it?

#5 (and most important) What kind of paperwork does it come with? GIA or not GIA

#6 In these demanding market conditions why are they selling it so cheap?

Lets start with the last one and take a look at the current market conditions. As of today 2.00 cts diamonds are the hottest thing going so why are they selling it so cheap? The problem, in this particular situation is that 2.00 cts Round Brilliant Cut Diamonds are $12,000.00 right now and that is a sold price in a tight market.The main reason is that it is not a Round Brilliant Cut as described, it is a Old Mine Cut or Old European Cut so deduct 50% from the price.  The retail price of the item is as it should be $6,000.00.

Now for the last and final question…Is it a deal? Not particularly. It is a K color diamond as described by the seller which means that it faces up yellow and that means that it is probably a L-M-N at least. The clarity is a SI2, as disclosed by the seller, which means that it could be a I1 which is even worse.  In this case the diamond in a Round Brilliant Cut is worth $7,500.00 and in an Old Mine or European Cut (deduct 50%) and makes it worth $3,750.00, so in this case you are paying to much.  

The last question…What about the gold and side diamonds? In a used mounting these do not even play a factor, and this ring was probably described as “Vintage” this works for clothes but not for diamonds and jewelry. The term “Estate” is another term used by dealers and both of these should be properly defined as “used and unwanted”.

Last but not least we must look at the paperwork. Is it GIA or not GIA? GIA, The Gemological Institute of America is the World’s Foremost Authority in Gemology and the who’s who of lab reports. Everything else is not worth the paper that it is written on including most jewelry appraisals.

Here at Jones & Son we only sell new/unused pieces of quality and have done so for over 22 years.  It is better for us to sell quality because that is what has kept us here (in the same location) this long.  At Jones & Son we sell GIA Certified (the Best) diamonds and have since the inception of the company. Hence the tag line The Best is All We Have to Offer.


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