Buying a diamond

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I'm toying with the idea of buying a diamond engagement ring for my girlfriend. After a bit of research, it seems that buying a loose diamond on the internet and getting it set is going to be much cheaper than buying from a high street retailer. I'll get a much better stone than an equivalently priced one from Beaverbrooks, Goldsmiths or wherever.

Has anyone on this forum gone through the process and with any success? I've managed to track down a suitable diamond (0.7ct, D colour, VS2, classed as a premium cut) for about 1400 notes, imported from Israel (www.israel-diamonds.com). Everywhere else I've looked online would charge 2 grand for the same stone, which I can't afford.

The Israeli firm claims that there'd be no import duty or VAT to add to the price. The other company I'm looking at (Blue Nile) charges VAT, in spite of appearing to be based outside the UK.

A bit of a long shot I know, but does anyone have any advice/experience on this? The Israeli firm gives every impression of being an established international diamond-shipping company so should theoretically know what's charged at the countries it sends to. Still, I'd hate for the stone to arrive with a £300 additional bill, payable before I can collect.
 
"Beaverbrooks, Goldsmiths"

Not really the best of places to compare against.

Try looking at some diamonds too, and seeing the difference between diamond cuts, colour ect in real life. you may realise that trying to get the best diamond isnt what you really need!

And size wise, any reason why you have selected that size?

And depending on your metal and ring design, it could add upto another £1000. (bit high, so i guess £600-800 is realistic). Do you also have a jewelers you can trust to do the setting?

Do you know what type of design would suite the type of diamond your getting, and how that would also affect your budget?

Try going to some areas like Hatton garden in london or The jewelry quarters in Birmingham, talk to the jewelers to give you a better idea.

Its a large investment, try to get some actual viewings before you commit to buy off the internet.

You wouldn't buy a car off the internet without test driving it first.
 
D colour....wow, you have deep pockets, drop the colour down the scale and save a fortune without being noticable!

Also as said above a setting could cost upto £1000 for a quality crafted setting.

I recently comissioned a ring from Christopher Wharton and think you would be better looking at someone like that who make quality pieces and will do whatever you ask. I had the ring made with a pear shaped diamond, and a pear shaped pink sapphire in a setting i had seen of their own design but all to my own spec, and budget.
 
Woo, looks like there are many people in the same boat!

Gives you a nice warm feeling!

Unfortunately, my g/f does not trust online dealers, and is a bit old fashioned :(

My budget isnt as high as the guys on this forum!

But i've managed to find a nice ring, 0.45ct, "D", vs1, GIA certified (anyone had any experience with this?). Platinum metal with a catherdral type setting for £1440.

Do people think this is a good deal? Or should i walk away?
 
S@njay said:
But i've managed to find a nice ring, 0.45ct, "D", vs1, GIA certified (anyone had any experience with this?). Platinum metal with a catherdral type setting for £1440.

Do people think this is a good deal? Or should i walk away?
Click to expand...
What shape diamond?

EDIT:
0.45 Ct, Princess-Cut, Signature Ideal-cut, D-colour, and VS1, diamond grading report from the GIA and the GCAL
£745 plus £540 for ring

EDIT2: I feel I should add all my knowledge has come from reading on the internet due to looking for a ring myself. I am in no way an expert or anything ;)
 
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Looking at this at the moment as well, we've decided to have a jaunt away to Brum to have a look at the jewellery quarter and see whats there.

She doe's want anything that big its unsightly/uncomfortable to wear so looking at 0.3-0.5c, F-G, VS1 or so on a princess cut from what I've read the princess cut can be quite forgiving on flaws. Band is to be platinum and a classic setting.

Anyone bought in the Brum jewellery quarter can comment on experience?

EDIT: damn that typo nealry cost me an arm and a leg lol
 
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TheMagicPirate said:
What shape diamond?

EDIT:
0.45 Ct, Princess-Cut, Signature Ideal-cut, D-colour, and VS1, diamond grading report from the GIA and the GCAL
£745 plus £540 for ring
Click to expand...

Its scary, that almost the exact type of ring we chose! And yes it is princess cut.
I know i will have to pay a premuim buying from a store, but whatever makes her happy! I guess £200 on top isnt *that* much?

We looked at d to h coloured diamonds, i couldn't tell the difference (loose)!
I found the setting type made a lot of difference as to how the diamond looked and how much light shined through.

With the same setting, if someone changed between a d or a h, i know i could not tell the difference. And you never look at the ring close up, so looking at arms difference, all the "D" colour means is that you have braging rights!

I also found that over 0.5ct, there is a bit of a price increase. Again i could not tell the difference from a 0.45ct and a 0.5ct!
 
~Divine~Wind~ said:
S@njay that sounds close to what I think we were looking at.
Whre is that from, obv don't want a direct link to the one your'e looking at :p
Click to expand...


Was at Hatton gardon this Monday (i'm taking days off work to look for a ring!).

Most shops very expencive, felt as if i was looked down upon because of my budget :(

http://www.heartjewelleryemporium.com/index.php

I cant remeber the outlet name, but its the 2nd on the right when you walk in! Still unsure if i trust thier quote (seemed too cheap for London), thats why i will get more quotes this weekend.
 
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I researched this very topic a few years ago.

The best option is to find a diamond you like at auction (be it part of a ring or not) and buy it that way. I got a 2 carat diamond for a fraction of what it would cost otherwise.
 
Some places to ask silly prices I've seen over 1000 for rings that can be had for 7-800 equivalent elsewhere.

Does the missus know you're looking for rings or is it a suprise?
I went against the whole suprise thing because tbh I have crap taste in jewellery :p
stuff I like is either silly expensive or cheap tat that looks fun xD
 
S@njay said:
Try looking at some diamonds too, and seeing the difference between diamond cuts, colour ect in real life. you may realise that trying to get the best diamond isnt what you really need!

And size wise, any reason why you have selected that size?

And depending on your metal and ring design, it could add upto another £1000. (bit high, so i guess £600-800 is realistic). Do you also have a jewelers you can trust to do the setting?

Try going to some areas like Hatton garden in london or The jewelry quarters in Birmingham, talk to the jewelers to give you a better idea.
Click to expand...

Basically I'm trying to get a balance between a good quality stone and a large stone. Her mate has a 1ct diamond (very low quality on the scale though) and it looks pretty nice at that size. 0.7-0.8ct seems like a good balance to strike.

I know there'll be little difference between D-F and the various cuts and number of inclusions to the untrained eye, but it's something that's meant to last for life so I want to know that it's a little bit special. I wanted at least one of the 'c's' to be the best it could be, so I picked colour after a bit of research.

The plan is to get it imported and then have it set somewhere in Hatton Gardens by my sister. I live miles away and have no chance at all of visiting a decent jewellers and getting it set without being detected, thereby spoiling the surprise. I don't think there are any decent ones local to me, but I'll dig around.

I'm thinking £1400-ish for the diamond and £400 (maybe a little more) for a platinum setting. If my setting estimation is unrealistic, I'll reconsider the cost of the stone or the budget.

Thanks for the responses so far.
 
A shop in Edinburgh does rings and jewellery at Wholesale prices. I use these. Much cheaper than buying from the stores and also custom making them.
 
My own advise would be - make sure that she likes the setting. Fortunately I took mine along to pick her own ring, but a mate didn't and he's regretted it since and the ring just doesn't suit her at all.

Mine wasn't an expensive ring on the grand scale of things though, I went for a small diamond that was a better colour and fortunately she has small hands so it suits!
 
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