How to buy the best diamonds made simple

Q: Can you let me know what you think of the following diamond? My fiancé picked it out but I wanted your opinion on it before I pull the trigger.

http://www.jamesallen.com/diamonds/H-SI1-Excellent-Cut-Round-Diamond-1429972.asp

Thanks

A: I believe this diamond is priced a little high – probably because of the because of the polish\symmetry.  If you look closely you will see a good number of inclusions which I am not convinced can be covered by prongs.  I would recommend you look at this one:

http://www.jamesallen.com/diamonds/H-SI1-Excellent-Cut-Round-Diamond-1517999.asp

It’s much cleaner and a few hundred dollars cheaper. If you are willing to go down a bit in size you can get an even better value in the 0.90 to 0.92 range. See my Guide to Diamond pricing to understand why. You can save close to $1500 by doing this.

Q: Thanks- I really like the 2^nd diamond! My fiancé was happy with it to and she really didn’t want to go lower then 1 carat so this worked out great. Awesome site and thanks for the advice.

It’s that time of year when those planning on making holiday purchases start trying to predict when the “right” time to buy is.  Here is one question that I got just yesterday.

“Randy,

I know I am going to be buying an engagement ring before Christmas and I am trying to time it right so that I don’t overpay and maybe even get a good discount. I read that diamond prices are down this year and was wondering if you thought I should buy now or hold out a little longer and see if prices drop further.

Thanks,

Mike”

My answer to Mike is important and I wanted to share it with all of you.

I never recommend trying to “play the market” on diamonds. There are so many variables that go into the pricing of diamonds that it makes it very difficult to predict where prices are headed. (see my page on diamond pricing)

What I do sometime recommend is to look at the current price of diamonds and see if they are “high” or “Low” for the season. If they are low and you know you will be needing a diamond then pull the trigger.

Rapaport is reporting that October prices for polished diamonds were down about 10% over last year. I would say anyone looking to make a purchase in the next few months is safe buying it now. Is this to say prices won’t drop further? No, of course not but with the unpredictability and fluctuation in pricing I think it’s worth the peace of mind buying your diamond when you find the right one rather than trying to gamble and save a few dollars.  If you want to save money on your diamond purchase- let me help you buy smart, by choosing the right color and clarity, this is a much more proven method then timing your purchase to market conditions.

One of the more frequent questions I get here on the site is about the differences in cert types. I have literally been asked about dozens of different certs from just about everywhere in the world.  If you have read through my page dedicated to this top you know that I am very clear on this- the only certs you should be looking at are GIA, IGI, AGS.

Of the dozens of questions I get the most common by far is about EGL diamonds. This question is so common that I dedicated a page to it on its own. No matter how clear I try and be on this topic (for those who are in doubt let me clear – Don’t Buy EGL Diamonds!) I always find it hard to really convince people 100% on this. The fact is that without a clear understanding on how diamonds are graded and the differences between the labs it is very easy to fall trap and think that an EGL diamond is a bargain. The fact is they are more expensive. That’s right – EGL diamonds are more expensive the GIA or AGS. If that’s the case why do so many people think they are getting a bargain with EGL stones? Check out this great video that clearly explains this topic.

Check out the video below:

Question:
Randy,

I am looking for at a couple of round diamonds on James Allen:
http://www.jamesallen.com/diamonds/H-VS2-Excellent-Cut-Round-Diamond-1480056.asp

and

http://www.jamesallen.com/diamonds/H-VS2-Excellent-Cut-Round-Diamond-1471696.asp

My question is why the big price difference? The only difference I can see is that the 1.08 carat diamond has a faint fluorescence. Could this be the only reason for a $400 price difference between the two diamonds?  Can you see any reason I should be opting for the 1.07 more expensive diamond?

Thanks
M.

Answer:

Thanks for writing in. These are both very nice diamonds and will be eye-clean. As to why there is a $400 difference between them….

Fluorescence isn’t the only difference between them.  If you look closely at the details you will see there is also a difference in the girdle, measurements, and polish. Each of these can contribute somewhat to the price of the diamond. However the truth is that in this case I don’t believe the discrepancy is because of any one diamond characteristic and instead it is most likely due to the fact that the 2 diamonds are being sent to James Allen by different wholesalers and each is asking a different ask price for the diamonds.

As you can read on both my diamond pricing page and on my Blue Nile re view page many online vendors (including James Allen) are listing “virtual inventory” that is supplied by other vendors.  The pricing in this case can vary for no (good) reason whatsoever.  I have seen cases where one diamond was listed with a high price simply because the actual owner was on vacation and didn’t get a chance to adjust his pricing.

As for which diamond I prefer of these 2 – I would definitely save the $400 and go with the lower priced stone.  These are H color and the fluorescence is only faint so it really shoudln’t not have a negative impact on the look of these diamonds.

Thanks,

Randy

Question:

Randy,

I am in the market for a 1.5 carat round diamond. Besides the usual 4C’s issues my girlfriend is insisting that we purchase an “Ethical Diamond”. She is very concerned that the diamond not in any way be a conflict diamond. After much research I found 2 companies that seem to specialize in this Brilliant Earth and Green Karat.  Are you familiar with these companies? Can they both be trusted that the diamonds are in fact conflict free? Can you recommend any other sites I can look at?

I really appreciate your site and all the amazing content on it.

Joe

Joe,

I appreciate your writing in and very happy that you enjoy the site. Your question is a great one. Before answering let me tell you that I am not a big fan of buying “Ethical Diamonds” from retailers who specialize in this – in my opinion (and this is just my opinion…) this is a form of Greenwashing that really isn’t necessary.  You can read more about this topic on the page I put up  here. I got into a lot of details about the Kimberly Process and the issues surrounding conflict (or blood) diamonds in general.  I really think you will find it informative.

As for the 2 retailers you mention – Brilliant Earth and Green Karat – both are very reputable and reliable online Jewelers. In terms of trusting either of them you shouldn’t have any worries.  On the other hand, again, please read my page on conflict diamonds and really understand the issues. I would strongly recommend that you look over the James Allen  conflict diamond policy and then compare pricing between Brilliant Earth, Green Karat and James Allen – my guess is that for a typical 1.5 carat H-SI1 diamond you will be looking at a %25-%35 savings at James Allen for a diamond that is just as “ethical” as the others.

Thanks, Randy

Question:
Hi,

Amazing site! I have learned more in the last hour reading your articles then I have by gong to 3 different stores.

I am looking to buy a diamond over 1 carat  and under 10K. I was looking through some of the one syou have listed on the side of your site and came across this one, http://www.selectingadiamond.com/1-14-carat-ags-certified-h-vs2-ideal-cut-round-diamond-for-9750/ but had a couple of questions:

Even under the magnification I can’t find why this is a VS2 and not a higher clarity grade. Also, The picture looks a little fuzzy, I read on your diamond fluorescence  page that if the diamond has some fluorescence  it can make the diamond look hazy (or I think you call it milky) is that the problem with this diamond? The diamond certification is AGS and not GIA – is that a problem? All in all can you give me your opinion of that diamond?

Thanks so much and again- amazing site!

Answer:
Thanks so much for writing in and I am happy that you enjoyed the site.

The diamond you sent me (here is a link direct to James Allen – http://www.jamesallen.com/diamonds/H-VS2-Ideal-Cut-Round-Diamond-1418797.asp is a beautiful stone. As for why the diamond looks “milky” in this case has nothing to do with the fluorescence, which in this case is “negligible”, but rather poor photography!  I wouldn’t worry at all about the fluorescence – you really only need to start thinking about this when you see Medium to Strong blue listed. Finally, as to why this is a VS2 and not a higher clarity grade – I suspect it is because of the faint marks at the 4:00 and 5:30 marks near the table. The cert also claims a feather in the middle of the table but to be honest I just don’t see it (even under magnification).  It could be because of the quality of the photo but being a VS2 – I don’t really care as this diamond will be eye clean! It’s a great buy.

Randy