I’ve spent a fair amount of time reading your site and I want to say thank you for the abundance of honest information you’ve made available. I always do as much online research as I can before making a significant purchase of any kind and it is particularly frustrating how diverse the information is regarding diamonds. It probably stems from the ”illusion” factor of the industry you mentioned. I’m having a hard time coming to terms with spending $15k on an engagement ring because social practice says I should. I was coming to terms with it thinking of it as asset diversification till I read more about diamond depreciation. In your experience what percentage loss should I expect on the loose stone? I know the setting is a near total loss.

So far I have been working with a local independent jeweler but the online prices have me thinking otherwise. I’m happy with the setting I’ve chosen but I’m wondering if I should source the loose stone elsewhere. I’ve been looking at Princess cut, 2+ct., I+ color, SI1+ clarity, GIA/AGS. They have been in the $13k-$14k range (not including tax) for the loose stone. The setting I’ve chosen is $2k and I’d like to be out the door at $15k (preferrably less).

I have spent time browsing Blue Nile and James Allen but I’m not really comfortable buying sight unseen. The virtual loop is a nice feature but I think it is more of a gimmick than a useful tool since you can’t adjust the focal point nor do they tell you the magnification. From your experience have you been surprised by inclusions and defects that didn’t show up in the virtual loop.

I plan to open a new credit card with a zero percent offer and cash back. If the new card(s) works out I would be able to take advantage of James Allen’s and blue nile’s 30 day return policy if I wasn’t satisfied.

I would appreciate any help or advice you could offer.

Thank you.

A: I’m sorry you’re faced with the frustration of knowing you have to buy this stupid thing even though you know it makes no sense. But I feel that it’s better to be a frustrated wise man than a blissful ignoramus!

It’s hard to evaluate just how much the value will drop initially. If you buy from the lowest margin places available, like online from james allen, then the loss down to the “market price” is about 15%. But then you have the problem of finding someone to sell it to. Nobody in the business will buy a stone from you at “market price.” They’ll want to pay at least 10% less. So figure 25% at best out the door.

The Virtual loupe on JA is definitely not a gimmick. At least when you compare it to buying blindly from BN. It’s not perfect, but I know I can detect whether inclusions will be visual to the naked eye or not in the vast majority of cases – but only because of my experience.

Anyhow, here are two fantastic stones with truly special cuts:

http://www.jamesallen.com/diamonds/I-SI1-Ideal-Cut-Princess-Diamond-954255.asp?a_aid=dmnd1357

http://www.jamesallen.com/diamonds/I-VS1-Ideal-Cut-Princess-Diamond-1304228.asp?a_aid=dmnd1357

Looks eye clean. Super brilliant.

Let me know what you think!

Q: Thank you for your prompt reply! After reading much more of your site yesterday (Q+A particularly) I was looking forward to hearing from you. Truthfully I spent eight hours online researching diamonds yesterday. I noticed that you are a Canes fan so congratulations on climbing back into the top 25. My girlfriend is an FSU alum but please don’t hold that against her We live in Ft. Lauderdale so not too far from your old stomping ground (in the relative vastness of the internet). The local shop I’m working with is J. R. Dunn in case you are familiar with them. Close friends of ours recently purchased an engagement ring and Rolex through them and gave us the recommendation. My girlfriend happened to be with our friend when she picked up her ring after sizing and my girlfriend picked out two settings for her wish list. She mentioned it to me in passing one night and I’m pretty sure she thinks I wasn’t paying attention or forgot so it will be nice to surprise her with one that she has chosen.

In my research last yesterday I did see that JA offers to buy back the stone within two years for 70% of purchase price so that is in line with your 25% estimate. I was reading horror stories about people getting 33% back so that is a bit easier to handle

On to the stones…

The GIA report on this one scares me a bit with all the inclusions and the comments. The black spot near the top looks like it would be visible to the naked eye. I have set high standards in my head and I know I need to come to terms with it (I’m working on it). Using the Virtual loop I can see a lot of what is there and it’s a bit un-nerving. Great price though I’d be happy to pay more for a cleaner stone.

What should I take from the comments saying things aren’t shown? Does that mean they aren’t visible or just that they couldn’t accurately represent them on the report? Also, should I be concerned that the GIA report was generated in 2007? It seems like all the others I’m looking at are from 2010. I’m sure the stone could be resubmitted for a newer report and I’d never know but it just struck me as odd.

I prefer this stone to the other you recommended however I can’t see the inclusions listed on the report using the Virtual loop so I’m not sure what to make of that. I would need to defer to your experience there. The report comments mention additional clouds are not shown. Back to my earlier question, what should I make of that? I think I see a cloud in the lower left corner of the table. Am I right? In your experience which is more detrimental to the overall appearance/quality of the stone, the black inclusion in the first stone or the cloud in the second?

Here are some others that interest me. I appreciate your take on them:

http://www.jamesallen.com/diamonds/I-SI1-Premium-Cut-Princess-Diamond-1303890.asp?a_aid=dmnd1357

Big stone but the limited specs look good. For the price there has to be something wrong with it. I’ve requested the report so we’ll see.

http://www.jamesallen.com/diamonds/I-VVS2-Premium-Cut-Princess-Diamond-1324386.asp?a_aid=dmnd1357

VVS2 which I know you don’t typically recommend but pricing is in line with lower clarity stones.

I read your guide on Princess cut and you mentioned the sweet spot for depth was in the 68%-73% range. Can you elaborate a bit more on what impact the table size has since you mentioned there were two schools of thought? The two stones you recommended had small tables whereas there are plenty in the 70%-75% range.

I was approved for one card yesterday and I am awaiting it’s arrival in the mail. I applied for a second as well and should hear back in the next week. If I need to I can proceed without the second card. I’m looking to make my purchase before the end of the month to give my local jeweler enough time to set the stone. I am looking to propose around the 20th or 21st of November as our birthdays are that week. I’m not going to rush anything though so if timing doesn’t work out I’m OK with that.

Thank you for your time and assistance!

A: You should know better. Being ranked #25 for a ‘Canes fan is absolutely nothing to celebrate. It’s sad, but today’s Canes bear no resemblance to the Canes I grew up watching.

1) I just realized it should be rejected in any event because it has an extremely thin girdle

2) You would never be able to see a VS1 with the VL anyway. That’s why you can’t see anything. VS1s are bordering on microscopic.

3) Can’t comment on an SI1 without seeing it!

4) Looks nice, but I prefer the smaller table look of the first two.

I think the two different approaches to table size is really just a matter of preference. Small tables are definitely harder to come by and carry more of a “prestige” but many people think larger tables (to a degree) are just as nice.

Q: Hi Ira – I hope the past week has treated you well. I have reserved a stone at my local shop as a fall back but I’m confident I can do better online. The local stone is a 2.00ct H SI1 for $13,450 and they’ve agreed to knock $450 off the setting if I buy their stone but I would still have to pay 6% sales tax.

I went ahead and had James Allen’s gemologist take a look at a few stones for me and I’ve pasted the feedback below:

(2.01ct I VS1 $12,300) This diamond faces up allot smaller and darker than the 2.21ct. This has the worst make and cut of the three.

http://www.jamesallen.com/diamonds/I-SI1-Premium-Cut-Princess-Diamond-1279114.asp?a_aid=dmnd1357

(2.21ct I SI1 $13,500) This diamond faces up the largest of the three. It faces up slightly rectangular and faces the brightest. This diamond is slightly cloudy from additional clouds that are not plotted, however, they are not terribly offensive. This diamond is 100% eye- clean and the best of the bunch.

http://www.jamesallen.com/diamonds/I-VS2-Ideal-Cut-Princess-Diamond-1244887.asp?a_aid=dmnd1357

(2.01ct I VS2 $12,860) This diamond faces up square and eye clean, but faces up the darkest. The feather reflects throughout the face of the diamond under magnification.

I was surprised to hear the first stone received the worst remarks. There is a decent price difference between that one and the 2.21ct so I can’t help but wonder if they are just trying to up sell me? I was originally leaning towards the one you had picked out and thought we might like the smaller table look. I had them look at the 2.21ct simply because I was surprised at the size for the price and it looked like it might be pretty clean. I’ve asked them to keep the first two stones on hold for another 24 hours while I look at others to compare against. It would be great to hear your thoughts on what they’ve reported. Also, if you could recommend another couple of stones I would appreciate it.

As a side note, I like that these are all laser engraved in case the ring needs to be left at a shop or is ever stolen. The stone I have on hold locally does not have that feature.

Thanks.

A: I think the person who reviewed that stone must be a “large table” person. See my article on princess cuts. I still think that first one is the best of the bunch.

……

Sorry, I was exhausted last night when I wrote that. I wanted to tell you that you always have a 30 day return window, so there’s really not much risk. I would still think you should go with the first stone.

Q: Ira – thanks for the follow up. When I spoke to the James Allen rep who relayed the gemologist’s report I really wasn’t convinced that it was a bad cut and similarly thought they may be a large table fan since the face up size was one of two descriptions they gave for any stone. Honestly I think the review was kind of a waste of time but it’s always good to have someone touch the stone beforehand.

I’ve had them take a look at two more for me and I think I may purchase the one you recommended today just so I can have it in hand and see for myself. Yesterday I rush ordered a BeLOMO 10x triplet loupe so I can review the stone at home Even If I burn $50 sending the stone back I still have a good amount of margin to spare over buying the local stone.

If for whatever reason the stone you suggested doesn’t work out I’m not sure which one I’ll have them send me next. I need to have the final stone in hand by the end of next to be on schedule. The 2.21ct stone intrigues me since I haven’t looked at a stone that big since locally it’s well out of my price range.

The other two I’m having them look at are:

http://www.jamesallen.com/diamonds/I-VVS2-Premium-Cut-Princess-Diamond-1324386.asp?a_aid=dmnd1357

I feel like this might be my best fall back stone since it is a VVS2 so there should be no surprise inclusions when it arrives.

http://www.jamesallen.com/diamonds/I-SI1-Premium-Cut-Princess-Diamond-1303890.asp?a_aid=dmnd1357

The size and the price lead me to believe there is something very wrong with it but we’ll see what they say. I’m interest to hear how they compare it to the other 2.21 I had them look at.

Thanks.

A: I’d hold off on buying until you hear about the 2.22ct stone. It’s the largest of the bunch (in terms of actual dimensions).

Q: They told me the review today over the phone and I forget the specifics (I’ve asked for the written summary for my notes). I think the 2.22ct was a bit cloudy if I remember correctly. The VVS2 had a feather in a location that raised concern over the durability of the stone. The gemologist still recommended the 2.21ct as the best choice of the four.

After hearing the review I went ahead and ordered the stone you recommended. It should arrive here tomorrow so I will be able to see for myself if the center is too dark. I’m hopeful that I will be happy with this stone. If not, I may purchase the 2.21ct after having them compare it to a few more but we’ll see.

A: Sounds great! I look forward to hearing your report! So you ordered it loose without a setting?

Q: Correct, loose with no setting. I have already decided on a custom setting locally. My GF picked the setting out a while ago and isn’t expecting it. I figured this is the best of both worlds since I’ll save big on the stone buying online but still have the local jeweler for any issues that come up. I know they aren’t thrilled about it but it’s not their money so I couldn’t care less.

A: :)

Q: Hi Ira – I received the stone today and it is perfect! JA wasn’t able to get it in the mail Thursday so it went out Friday and I had to wait till today to get it. I really like the look of the small table. All of the stones I had looked at had large tables so I wasn’t really sure how it would look in person. I was afraid the small table might make the stone look small but that’s not the case. The stone is very clean, I had a hard time finding the inclusions with my loupe. It is by far the cleanest stone I have looked at. The stone looks great with lots of fire and I know my girlfriend will love it!

I took the stone in to my local jeweler today to have it mounted. The sales rep was understandably disappointed I wasn’t buying their stone (but hid it well). After he reviewed the stone and I told him what I paid he nodded and smiled commenting that I got a great price on a very nice stone. I saved $1,500 buying the stone online and feel I got a much better product. This would not have been possible without your personal assistance and the information on your site. The ring should be ready in two weeks. I’ll be sure to send you a photo when it’s done.

Thank you for all of your help! It was very reassuring to have the guidance of someone with your knowledge and experience. I will certainly recommend your site and James Allen to others.

A: Such fantastic news! Thanks for going out on a limb and trusting my choice!

Thanks! And Congratulations!

Here’s the Stats (Or Click Here for a Copy of the GIA Certificate):

Diamond Magnified 20x - Click to Enlarge

Carats: 2.23

Diamond Color: I

Diamond Clarity: VS1

Measurements: 7.45*7.11*5.04

Length/Width Ratio: 1.05

Depth: 70.9%

Table: 73%

Diamond Polish: Excellent

Diamond Symmetry: Very Good

Diamond Fluorescence: None

Diamond Price: $13,830

Don’t forget to use our exclusive coupon code TAD0611 with James Allen for 10% off Engagement Ring Settings!

Click here to be Brought to the Diamond on James Allen

Here’s the Stats (Or Click Here for a Copy of the GIA Certificate):

Diamond Magnified 20x - Click to Enlarge

Carats: 2.24

Diamond Color: I

Diamond Clarity: VS2

Measurements: 8.12*7.35*5.06

Length/Width Ratio: 1.10

Depth: 68.8%

Table: 63%

Diamond Polish: Very Good

Diamond Symmetry: Very Good

Diamond Fluorescence: Medium

James Allen Engagement Ring

Diamond Price: $14,200

Don’t forget to use our exclusive coupon code TAD0611 with James Allen for 10% off Engagement Ring Settings!

James Allen also has a large variety of engagement rings to choose from to pair with today’s daily diamond selection.  One of most popular setting styles out there is the look with a thin shank (about 2mm) studded with pave diamonds.  If you’re looking for a style like this, then James Allen’s 18k White Gold Pave Set 4 Prong Diamond Engagement Ring will look amazing with today’s daily diamond selection.

As is always the case with our daily diamond selections, today’s diamond is completely clean to the naked eye.  Additionally, some of you might be concerned with the “medium blue” fluorescence in today’s diamond.  But the truth is, Medium Blue Fluorescence combined with an I color diamond can only help make the stone look slightly whiter.  This combination will pretty much never make the stone look milky or cloudy at all.

Click here to be Brought to the Diamond on James Allen

Following our previous choice of the best princess cut diamond for $15000, today we offer you the best princess cut diamond for $14,000.

Here’s the Stats (Or Click Here for a Copy of the GIA Certificate):

Diamond Magnified 20x - Click to Enlarge

Carats: 2.02

Diamond Color: H

Diamond Clarity: VVS1

Measurements: 7.24*7.14*4.90

Length/Width Ratio: 1.01

Depth: 68.6%

Table: 73%

Diamond Polish: Very Good

Diamond Symmetry: Very Good

Diamond Fluorescence: None

James Allen Engagement Ring

Diamond Price: $13,880

Don’t forget to use our exclusive coupon code TAD0611 with James Allen for 10% off Engagement Ring Settings!

James Allen also has a great selection of engagement rings to choose from to match with this diamond.  I’ve always found it odd that there aren’t more settings available for princess cut diamonds that set them off by 45 degrees – like a baseball diamond and not like a square.  It’s such a unique and classy way to displace a princess cut, it just seems natural to me.  They do exist, and one such ring is James Allen’s 14k White Gold Pointed Tension Setting.

As always with my daily diamond selections, the cut on today’s diamond is spectacular.  A depth of 68.6% gives today’s diamond a very wide spread without sacrificing any sparkle and return of light.

Click here to be Brought to the Diamond on James Allen

Here’s the Stats (or Click Here for a Copy of the GIA Certificate):

Diamond Magnified 20x - Click to Enlarge

Carats: 1.80

Diamond Color: G

Diamond Clarity: Diamond VS2

Measurements: 7.03*6.68*4.64

Length/Width Ratio: 1.05

Depth: 69.5%

Table: 63%

Diamond Polish: Very Good

Diamond Symmetry: Very Good

Diamond Fluorescence: None

Diamond Price: $13,610

Don’t forget to use our exclusive coupon code TAD0611 with James Allen for 10% off Engagement Ring Settings!

James Allen also has a great selection of engagement rings to choose from to match with this diamond.  I think this one in particular would look great: Platinum 2.1mm French Cut Pave Diamond Engagement Ring.

Click Here to be Brought to the Diamond on James Allen

Here’s the Stats (Or Click Here for a Copy of the AGS Certificate):

Diamond Magnified 20x - Click to Enlarge

Carats: 1.56

Diamond Color: H

Diamond Clarity: VVS2

Measurements: 7.42*7.44*4.63

Depth: 62.3%

Table: 54.2%

Crown Angle: 34.4°

Crown %: 15.70

Idealscope View of Arrows - Click to Enlarge

Pavilion %: 43.10

Diamond Polish: Ideal (0)

Diamond Symmetry: Ideal (0)

Diamond Fluorescence: Negligible

Diamond Price: $14,290 ($13,576 after applying TRUE5 discount code)

Click Here to be Brought to the Diamond on James Allen

Here’s the Stats (or Click Here for a Copy of the GIA Certificate):

Diamond Magnified 20x - Click to Enlarge

Carats: 2.01

Diamond Color: H

Diamond Clarity: VS1

Measurements: 6.95*6.83*4.74

Length/Width Ratio: 1.02

Depth: 69.4%

Table: 57%

Diamond Polish: Very Good

Diamond Symmetry: Very Good

Diamond Fluorescence: Faint

Diamond Price: $14,090

I just love this diamond’s picture. Asscher cuts, when done right, are so beautiful.

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Here’s the stats (or Click Here for a Copy of the GIA Certificate):

Diamond Magnified at 20x - Click to Enlarge Picture

Diamond Color: I

Diamond Clarity: SI1

Carats: 2.63

Depth: 74.5%

Table: 74%

Measurements: 7.60*7.49*5.58

L/W Ratio: 1.01

Diamond Polish: Very Good

Diamond Symmetry: Good

Diamond Fluorescence: None

Diamond Price: $13,560

As always, today’s Daily Diamond is completely clean to the naked eye.

Click Here to be Brought to the Diamond on JamesAllen.com

Diamond at 20x Magnification - Click Here to Enlarge Picture

Here’s the stats (or Click Here for a Copy of the GIA Certificate):

Carats: 2.80

I Diamond Color

I1 Diamond Clarity

Measurements: 9.21*9.24*5.44

Diamond Cut: Very Good

Diamond Polish: Excellent

Diamond Symmetry: Excellent

Depth: 59.0%

Closer to Actual Diamond Size - See any blemishes?

Table: 59%

Price: $14,050

As always, all of my daily diamond picks are completely clean to the naked eye.  Today’s diamond, despite what you see in the photograph above, is no different.  Take a look at the smaller picture beneath the larger one.  This size is still significantly larger than the actual diamond, yet it looks clean to the naked eye.

Click Here to be Brought to the Diamond’s Page on JamesAllen.com