Q: Hello,

Firstly I’d like to thank you, you’re website has been a real eye opener.

I’m based in London and am currently researching my options in regards to buying a diamond for an engagement ring.

I have a budget of roughly 3000 pounds (roughly $4800 at todays exchange rate), and am wondering if you have any knowledge of or recommendations for where I should be looking in London or on the continent (i.e. Antwerp).

I have to admit I’m a bit lost in terms of who to trust or where to go for the best deal without being fleeced!

I think I’ve got a rough idea of the specification I’m looking for, using sites like Blue Nile to adjust my pricing expectations, am I best going to one of the diamond wholesalers – i.e. around Hatton Garden in London or something like Ajediam in Antwerp?

Thank you for your time

A: Thanks for writing, and thanks for the kind words about my website.

Unfortunately, you being in the UK presents something of a challenge.  There aren’t any good UK (or Europe) based online diamond vendors that offer real magnified photos of their diamonds, like JamesAllen.  JamesAllen will ship to the UK, but you have all the added bureaucratic issues of duties and VAT.  Of course, if you’re buying locally, those things are already factored into the price of the diamond, so it wont be much more expensive, if at all.  The only real problem, as I understand it, is if you wanted to return the diamond, it would be much more complicated to do it back to the US.

Having said that, I think your best bet still would be to order from James Allen and have it shipped to you in the UK.  Truth be told, it might even be cheaper for you to travel for a day to the US on one of the discount carriers to pick up your diamond.  Why not take that money that would otherwise go to the government for VAT and duties and spend it on yourself to get to see NY for a day?

The reason I think you should still buy from JA in the US is that the having the pictures almost completely negates the possibility of needing to return the diamond.  If you buy from BlueNile UK, you could try to get lucky and pick an SI2, but there’s still a fair chance you’ll have to end up returning it if it’s got a center black inclusion that’s eye-visible.  With James Allen, you could confidently buy even an I1 that you’ve inspected with a magnified picture and seen to be clean to the naked eye.

Just last week I helped someone with a budget of $5000 to end up buying a 1.41 ct H I1.  The diamond is completely eye-clean and MUCH bigger than what he was planning on buying before he contacted me.  If you limit yourself by shopping with Blue Nile (UK or otherwise), you cut yourself off from the possibility of finding a deal like that.

So to break it down to 2 simple reasons why you should buy from James Allen and not BN UK: 1) Confidence — you will see what you buy before you buy it, so you’ll have no reason to be nervous before the diamond arrives, and 2) Buy more sharply — the magnified pictures on JA will allow you to find a diamond with the lowest clarity that is still completely clean to the naked eye.  You can take money that you would have otherwise wasted on too-high clarity that wouldn’t be appreciated, and spend it on more carats, which will be quite noticeable, and that will definitely be appreciated.

As far as going to a local wholesaler, I wouldn’t recommend it unless you have a personal relationship with someone working there.  Dealers generally don’t have patience to sit and explain thing to private clients — especially ones spending a small amount (by diamond industry standards, $5000 is small indeed).  They’ll probably try to convince you to buy something that’s good for them to move out of their inventory, versus something that’s a great deal for you to buy.

I’d be happy to help you locate the perfect diamond for you.  I know your budget, but what shape did you want to buy?

Q: Thanks for your quick response Ira.

I don’t see a problem with coming to the states to collect it. As you mentioned flights are so cheap these days. I actually collected a ring for a friend whilst I was in NYC over the Christmas holidays.

The James Allen site is fantastic, I have to admit I can’t understand why others such as Blue Nile don’t offer a similar service.

If I were to fly over my budget would more realistically be $4500 to cover my other costs, although naturally with such a purchase if a truly special opportunity were to present itself I’d be stupid not to stretch my budget slightly.

In regards the shape I’d be looking for a round. Most likely I’ll be looking to set it to a four prong white gold or platinum band.

A: Hi.  I’m back home now, so I can type in full sentences.  As I wrote in my other email, please let me know if the $4500 is just for the diamond, or if that includes the ring as well.  If the budget does include the ring, then I need to know if you want white gold or platinum, as it makes a big difference in the budget left over for the diamond.

Also, just to explain why BN doens’t have photos like JA:  BN lists “virtual” inventory that’s sitting in the safes of diamond vendors all over the world.  When a diamond is purchased, the vendor ships it to the customer with a BN invoice.  It’s completely unfeasible for BN to have the vendors photograph every diamond.  They would never agree to it. You’re generally talking about major diamond manufacturers that always want their diamonds available for a quick sale.  To photo every diamond would take time, and no really big diamond house can spare that.

James Allen works slightly differently.  Like BN, they don’t own their own inventory.  But JA only works with vendors within a short radius in NYC.  They have much more control.  They themselves ship all their sold diamonds.  They inspect every diamond personally before it ships.  Since they work in a tight partnership with their vendors, they can pressure them to photograph their diamonds.  The results prove that it’s worth the effort.

Q: Apologies for my delay in getting back to you.

$4500 is just for the diamond, although I’ve budgeted £500 (US$800) for the setting & ring. Most likely I’ll be looking at a four prong platinum solitaire ring setting.

What are your thoughts on ‘Hearts & Arrows’?

A: Now that I have your budget, I’ll get to work.  Regardring H&A, why don’t you go take a look at my site under the section “Q&A.”  I just posted the back-and-forth I had with the guy who ended up taking that 1.41 ct stone I was telling you about.  In that conversation, I touch on the topic of H&A.  If something’s still not clear, please let me know and I’ll be happy to fill in any missing details.  Just to summarize it in one line, if you don’t have time: my position is always to put your money to work for you in the way that will give you the most benefit.  The easiest thing to see and appreciate on a diamond is size.  The net benefit in upgrading from “premium” to “ideal” or even “H&A” is quite small.  Under normal lighting conditions (and not jewelry store overhead halogen lighting) and with a typically smudged up diamond with gunk collected underneath the stone in the setting, there is no net benefit.  So I prefer to take that money and spend it on buying a larger diamond.

Take a look at my daily diamond recommendation that I posted today.  It’s a little bit out of your budget ($5780), but it’s a great example of what I look for when choosing a diamond.  I’ll try to find something similar around $4500 for you.

By the way, there’s one thing we’ll have to work out.  If you go to NYC and pick up the diamond from JA’s office, you’ll be forced to pay NY state sales tax which is a little over 8%.  Sales tax (similar to VAT) in the US is under state jurisdiction, so if a product is shipped over state lines, a company doesn’t have to pay sales tax on the item, and therefore won’t pass on that charge to the customer.  So if you have a friend/relative in New Jersey or Connecticut, it could save you a good amount of money to have it sent there.  If you’d like, I could provide you with the address of my brother-in-law’s office which is in NJ, just over the George Washington Bridge. It’s a 20 minute drive from Manhattan.

Here’s what I have so far:1.50 Carat J I1 naked eye clean Ideal Cut Medium Fluorescence

This diamond has 3 big things going for it.  As I recommend in my “Truth about Diamond Fluorescence” article, finding a J color with Medium Blue Fluorescence is a great way to save money.  The Medium Blue will act to slightly whiten the J color face-up so it looks more like an I or even H color.

Secondly, the inclusion pattern on the diamond is perfectly “spready” (a common industry term).  Most I1s (Take THIS ONE as an example), have a concentrated inclusion that is large enough to be noticeable with the naked eye.  The diamond I suggested above is completely spread out, with no one part of the inclusion pattern very noticeable at all.  To the naked eye, this diamond will look just as clean as a flawless diamond.

Thirdly, the diamond is a “Triple Excellent” diamond (Excellent Polish, Excellent Symmetry, and Excellent Cut).  If you see my “Truth about Diamond Polish” article, you’ll notice that I recommend not paying more for a triple excellent diamond.  The beauty of this diamond is that it’s not priced any higher than a non-triple-X diamond.  So you’re getting a premium diamond at a non-premium price.

The next best diamond I could find is the follow:
1.27 Carat J SI2 Eye Clean

Take a look at the inclusion pattern of this SI2.  Notice how it’s really not any nicer than the I1 above.  Both will be eye-clean, so why pay more for the SI2?  Also, this diamond doesn’t have medium blue fluorescence, so the J color on this stone will show face-up slightly darker than the stone above.  Also, it’s VG, VG, VG and not EX, EX, EX.  And the biggest difference is the diamond above has a diameter of 7.30mm, while this diamond has a diameter of 6.90mm. 0.40mm is a significant noticeable difference.

Even though the 2nd diamond is the next best offering I could find, the truth is, it’s not even close.  The stone above is a lucky find with the triple X, medium blue, and perfectly laid out I1.  I know it’s a bit more than what you wanted to spend, but in my opinion, it’s worth stretching the budget by $200 to get this stone.

Please let me know what you think.

Q:  I see you’re starting the day early J

I’ve just read what you’ve mentioned on H&A and I agree. Whilst it does sound interesting I could the imagine the premium would be quite significant!

Thanks for the tip regarding 8% state tax. I have family in NJ, so I should be able to arrange something with them.

British Airways/Virgin/Delta/etc all have return flights from London to Newark for roughly £290 for late September/early October, which isn’t too bad.

Wow, that is certainly much larger than I was expecting. Whilst the spec and spread of the inclusions do look impressive, how visible will they be to the naked eye?

So would the cost of this stone be $4720 + shipping to NJ? No other additional taxes? (as the state 8% sales tax wouldn’t apply)

A: The diamond will look completely clean to the naked eye.

JA ships for free to everywhere in the continental US, so if its
shipped to NJ, that is the final price. No surprises.

Q: That certainly is very tempting and gives me a lot to think about

Thanks for all your help Ira, it really is appreciated.

I’m planning on proposing during a trip we’ve planned to Thailand in late October, so I’ll let you know what I go for and how I get on!

A: Excellent. Please stay in touch. Enjoy Thailand. It’s a lot of fun. With a little bit of money, you’re going to feel like a king. There’s nothing like a $7 1 hour long foot massage!

Please do let me know when/if you purchase the diamond as I would like to post our exchange (with your name removed, of course) to the Q&A section of my site. I don’t want to ruin it for you, though, and let others know about the diamond I recommended for you, so I’d like to wait until after you make the purchase.

Best of luck and I wish you and your wife to be a long happy and healthy life together!

Q: Hope you are well. I’ve been thinking about my options and dropping the odd question to my better half to understand what she’d prefer. As she has long slim fingers (they’re UK size K, US size 5 1/8), I’m thinking a 1.5ct stone may be a touch large and get in the way of her work (she’s pharmacist in a local hospital). Also she’s not particularly focused on a large ring.

If I was to look at smaller stones, between 0.9ct to 1.1ct, what should I be considering? i.e. taking into account all you have said, instead of ‘upping the specification’ of any of the attributes, I should instead look for a similar specification smaller diamond and make a larger saving right?

Thank you for putting up with my inane questions!

A: Your questions are absolutely not inane!

You hit the nail on the head. Just lower the carat weight, and save yourself some money. Would you like me to recommend some stones in that size range?

Q: Thank you Ira

Yes if it’s not too much trouble I’d really appreciate if you could give some recommendations in that size range.

A: Before I start, I just wanted to mention one little thing, though. Just keep in mind that the 1.41 that I found has a diameter of 7.30mm. A well-made 1 carat diamond will have a diameter around 6.3-6.5mm. So in the end, you’re only talking about a difference of just under a millimeter! It’s definitely noticeable to the eye, but I’m not sure it’s enough of a difference in size to cause your better half to accidentally give too much viagra to anyone

OK, here’s a few to look at. I tried first to find stones just under 1 full carat to capitalize on the “size category” phenomenon (see my article Truth about Diamond Prices).  Here’s a few:
0.98 H SI2 Ideal Cut Eye Clean – $3710
0.97 H SI2 ideal Eye Clean – $3620
0.97 I SI2 Ideal Cut Eye Clean – $3030
1.02 H I1 Premium Make Eye Clean – $3350
1.11 I SI2 Premium Eye Clean - $4290
1.10 J SI2 Ideal Eye Clean - $3230

Q: Sorry for my delay in replying, I’ve been running around attending client meetings (bring on the weekend). Thanks for the added effort in sending through this bumper list!

I hear what you’re saying about the difference in dimension when going smaller than the 1.5ct you’ve shown me. I’m planning on taking my lady down to a local jeweller in the next week or so to see what carat size she is comfortable with, I think this will give me the steer I need.

The first few you listed at just under the 1ct mark have grabbed my attention so far.

A: No problem. Stay in touch and let me know how everything goes!

Q: I’m well, hope you are as well.

Firstly please feel free to publish our previous email conversation as you have previously mentioned you’d like to.

Now onto how things are going

As is always the case with these things, family love to get involved. In my case it’s my mother. Coming from an Indian background she’s stressed how important it is to her that the stone has a high clarity as it holds certain religious connotations for her/us. Now this isn’t something that holds much weight with me, although being the son that I am I have conceded that I’ll at least listen to her recommendations.

She spoke to a jeweller who she has dealt with several times over the past 15 years. He’s offering us the following.

0.9ct, E, VVS1, VG-EX-VG, GIA

For the loose stone the price to us including tax is £3,500 (roughly $5,600)

Now I haven’t seen the stone myself. I have asked her to ask him for some of the specifications from the certificate (Total Depth, Table size, Crown Angle, Crown Height, Pavilion Angle, Pavilion Depth, Star Length, Lower Half, Girdle, Culet, Fluorescence, Measurements).

In terms of ‘trust’, she has purchased a larger diamond from him in the past, which was also quite the bargain and had it independently verified.

Whilst I know this goes against much of what you say on your site, I’m wondering if you also consider this the ‘bargain’ I’m being told it is.

My concern is mostly centred around it being a VG cut. Of course there are low end and high end VG cuts, so I’m keen to see the specs from the certificate.

It falls within my budget so I am considering it… I’d appreciate any comments you may have.

Q: There’s something very fishy here. THat price is too cheap. If it was a little cheap, I wouldn’t say anything, but this is 2000 less than the best price on James Allen, and JA is tax free!

I checked the industry-only site “Idex” that diamond dealers use to source stones. Attached is the screen shot of my search results. These are all E VVS1s on the market here in the Israeli diamond bourse. The only one that even comes close to your guy’s price has Very Strong Blue Fluorescence. But again, that doesn’t include over 20% taxes (VAT & Customs). It doesn’t include your guy’s profit. So something doesn’t smell right about the deal.

The diamond might be strong blue, and be hazy. You’ll have to see it for yourself. Deals like this can happen once in a blue moon for one reason or another, but if this guy could sell the stone for cash on the wholesale market for more than he’s ready to sell it to you for, and he’s not doing that, then something’s weird about the whole situation.

Q: Thanks for your quick reply. I have to admit the price does make me think something can’t be right.

He’s based on India and only deals with GIA stones. The ‘story’ I’ve been told is that the stone was purchased for another buyer. The purchase fell through and he now needs to clear this as he has other inventory.

I’ve asked to either get a copy of the spec part of the GIA cert. If I get the specs would you mind looking over them?

A: I’d be happy to look over the cert for you. Here’s the attachment I forgot about last time. THe fact that it comes from India shouldn’t make such a big difference. Especially since that kind of stone is not the type of goods that the Indian (wholesale) market specializes in.

Q: Turns out it’s not a GIA, it’s an IGI.

Here’s what the report says:

Number
S2C32772

Report City + Date
MUMBAI March 3 2009

Description
Natural Diamond

Shape And Cut
Round Brilliant

Carat Weight
0.90 Carat

Color Grade
E

Clarity Grade
VVS 1

Cut Grade
Very Good

Polish
Excellent

Symmetry
Very Good

Measurements
6.02 – 6.04 x 3.94 mm

Table
59.5%

Crown Height – Angle
16% – 38°

Pavilion Depth – Angle
45% – 42°

Girdle Thickness
Slightly Thick (faceted)

Culet
Pointed

Total Depth
65.3%

Fluorescence
Slight

Comments
Laserscribe on Girdle: IGI S2C32772

A: Now things make more sense. This stone is probably the equivalent of a GIA F VVS2. And it’s a very deep stone. A 65% depth might not even get a “good” cut grade from GIA — it might only be “fair.”

Take a look at this stone. It’s F VVS2, so it’s probably the same as your IGI E VVS1. It’s got 63.4% depth (James Allen didn’t have anything worse than that for comparison). JA price: $4820.

http://www.jamesallen.com/diamonds/F-VVS2-Good-Cut-Round-Diamond-1246420.asp

A: Also confirm my suspicions!

Suffice to say I won’t be going for it and I’ve given my mother a talking to

I think to balance the situation (and try to keep everyone happy) I’m going to focus on VS1, F/G/H, excellent cuts.

JA has the following:

0.91, F, VS1, EX/EX/EX, GIA, $4860
http://www.jamesallen.com/diamonds/F-VS1-Ideal-Cut-Round-Diamond-1246265.asp

0.91, G, VS1, EX/EX/VG, GIA, $4300
http://www.jamesallen.com/diamonds/G-VS1-Ideal-Cut-Round-Diamond-1223169.asp

0.92, H, VS1, EX/VG/VG, GIA, $4130
http://www.jamesallen.com/diamonds/H-VS1-Ideal-Cut-Round-Diamond-1210601.asp

In regards to what’s available to you through rapnet, with your 10% fee added, would it work out cheaper/better for me than going through JA?

A: See the attached screenshot of the goods available in Israel. You see that, relatively speaking, the prices on JA are really good. Your price would be the prices shown plus 10% + about another $200 to cover logistics (shipping, insurance, and reimbursement of the company that will be doing the invoicing).
The company I use to handle my logistics is run by a close colleague. As a policy, they ship all diamonds as “documents.” This is for security reasons since a delivery man is much more likely to steal a package that’s marked “DIAMONDS INSIDE.” They make so many shipments that they don’t need to order insurance. Thank God, in the last 10 years, they’ve only had one shipment go missing. I don’t make very many shipments, so I don’t have the luxury of having the risk spread around, so I have to pay for insurance. Anyway, since they ship as documents, it’s up to the receiver to go and declare it to the customs officials.

So you need to make a calculation between 3 different options:
1) Buying from JA and having them ship you the diamond. You’ll get charged twenty-something percent VAT & Customs. There’s a V&C calculator on the JA homepage on the bottom left.
2) Buying from JA and having them ship it to New Jersey and you flying in to pick it up.
3) Having me buy a stone for you and shipping it to you in UK as “documents.”

There’s pluses and minuses for each option. If I buy the stone for you, I probably won’t be able to get it set for you. If you want a simple solitaire setting, I MIGHT be able to get it done, but I can’t guarantee anything now before I speak to some people.

Flying to the US will obviously cost you, and having JA ship you the stone will also cost you.

Also, if you buy from JA (either way), you’ll have 30 days to return the stone. If I buy the stone for you, you’ll have only a day or two to decide if you want keep it or not.

Let me know what you’d like to do, and I’ll start finding the best stone for you either way.

Q: You’re right I need to weigh up the costs.

Through JA:

· 0.91ct, G, VS1, EX-EX-EX

$4,580 + $625 (2mm platinum four prong solitaire band from JA) = $5,205 / £1.60 = £3,253 + £400 (flight & other costs) = £3,653 total

http://www.jamesallen.com/diamonds/G-VS1-Ideal-Cut-Round-Diamond-1231396.asp

· 0.91ct, F, VS1, EX-EX-EX

$4,860 + $625 (2mm platinum four prong solitaire band from JA) = $5,485 / £1.60 = £3,428 + £400 (flight & other costs) = £3,828 total

http://www.jamesallen.com/diamonds/F-VS1-Ideal-Cut-Round-Diamond-1246265.asp

Through yourself (using items from screenshot):

· 0.91ct, G, VS1, EX-EX-EX

($4,130 per carat) $3,758 + 10% = $4,133 + $200 = $4,333 / £1.60 = £2,708 + £500 (getting the ring set) = £3,208 total

· 0.93ct, F, VS1, EX-EX-VG

($4,736 per carat) $4,404 + 10% = $4,844 + $200 = $5,044 / £1.60 = £3,152 + £500 (getting the ring set) = £3,652 total

Through BlueNile UK:

· 0.91ct, G, VS1, EX-EX-EX

£2,891 + 15% VAT = £3,324 + £375 (2mm platinum four prong solitaire band from BN) £3,668 total

http://www.bluenile.co.uk/round-diamond-1-carat-or-less-ideal-cut-g-colour-vs1-clarity_LD01491451?__fun_frm=i&filter_id=0

· 0.90ct, F, VS1, EX-EX-EX

£3,100 + 15% VAT = £3,565 + £375 (2mm platinum four prong solitaire band from BN) £3,940 total

http://www.bluenile.co.uk/round-diamond-1-carat-or-less-ideal-cut-f-colour-vs1-clarity_LD01200638?__fun_frm=i&filter_id=0

So it certainly works out cheaper for me to buy through you, although as you’ve mentioned there are other considerations to include: no real opportunity to return if not satisfied (although I find it unlikely I’d need to do this anyways) + my main concern which centre around being stung by customs & excise. Even if the diamond is sent as a document, guessing there’s a good chance it would be picked up by customs electronic scanners? Have you / your shipping partner sent things to the UK before – just wondering how many have been stung by customs?

I suppose an additional benefit of flying to NYC to collect the diamond is that I get a day or two to get some other bits done! I have a friend in Conneticut I can ship to.

Surprisingly once I factor in the additionals for the JA option it doesn’t work out that much cheaper than buying from BN UK.

BN UK seems to have a wider choice of F/G VS1 around the 0.9 mark as well.

A: To answer your question – yes, my friend ships to the UK all the time. I actually discussed this with him recently as I had another reader from the UK who I was about to buy a stone for. He’s never had a problem. Diamonds aren’t detected by metal detectors (Thank God that’s true – I’ve been on so many flights both internationally and inside the US carrying a million dollars of diamonds at a time. If I would beep every time, it would be a really big security risk). There’s no way to discover that there’s a diamond inside without opening the package. And since it’ll be in a Fedex Envelope, and not a package, there’s nothing suspect about it at all.

You would have an opportunity to return the stone, you’d just have to make your decision more quickly.

You mention that JA isn’t really cheaper than BN, but that’s not true. Since for the JA price you get the diamond, ring, and NY trip. Instead of giving the money to the Queen, you’re spending it on yourself. Like you said you can get some other bits done. It’s not just diamonds that are cheaper in the US. You can bring back another suitcase full of loot that you pick up on the cheap while in the states. There are even stores in NYC that specialize in 220 Volt electronics just for people like you who come in to shop.

Of course, if you want me to get the stone for you, then just let me know, and I’ll start making phone calls right away.

Regarding your comment about BN having more 90 point F/G VS1s, I’m not sure it’s so relevant. There’s pretty much nothing that separates two “excellent” cut 90 point F/G VS1s. I’m not sure having 20 stones versus 10 stones makes BN a better choice. You just need to find that one stone that’s the best value for you, no matter where it comes from.

Q: Something has just occurred to me.

My best friend is currently travelling around the world and will be returning to the UK on Monday 31st August.

He’s in Australia right now but will be flying to LA this coming Sunday (23rd), where he will spend the remainder of his time.

You sent me a screenshot of stones available through Rapnet, are these the same ones available to you in the US at those prices? Just thinking I could go for one of those and have it sent to my friend who could bring it back across for me.

I know the screenshot you sent over was just a snapshot of what is available, but I took a look at the following three caught my eye:

Alternatively same goes for James Allen – if the ring is being shipped to California I’m correct in thinking it qualifies as a sales tax free purchase?

A: I think the stones I had in the screenshot were stones local in Israel only. That was so I could ship you as documents from Israel. Yes, if the stone is shipped from outside CA to CA, then it will be tax-free. In the US, sales tax is a state tax. So sales across state lines are tax free.

Here’s a new screenshot. I probably won’t be able to make any calls today because I don’t work on the Sabbath, and I’m 7 hours ahead of New York time. I’ll try, but most likely I’ll call on Monday. In the meantime, pick 3 stones you like from the list and give them to me in order of your preference. I stuck with G/F VS1 triple excellent 90 pointers. If you want me to add more to the search, let me know.

FYI, the 3rd stone on the list from “CORAL” is in Los Angeles, so you will have to pay sales tax if you take that one.

In the meantime, send me the mailing address in CA.

Look forward to hearing from you!

Q: I’ll have a look through and let you know if any catch my eye in particular. I’ll be speaking to my friend in the next day or two, so I’ll get the exact address as well.

So that I’ve got the numbers/calculations clear in my head, will the jewellers fee still be $200 like with FancyDiamonds if we’re handling this within the US?

Cheers,

PS – heard from Dane, all glowing reviews as I expected

A: Great to hear about the review from Dane

No, there will be no $200 fee since it’s so much simpler to ship domestic than international. There might be a fee for shipping, but it all depends on the individual vendor. With Dane’s stone, the guy wanted $50. I’m guessing most places won’t charge anything for shipping, but who knows. When I start making calls based on your pics, I’ll ask about shipping.

So you’ll just be adding 10% to the price shown on the screenshot.

Q: Great

Ok Ira, have a good weekend I’ll speak to you on Monday.

Here are the three that have caught my eye in order of preference:

1 – 0.94ct F VS1 (Seller: ESSKAY) $4465

2 – 0.91ct F VS1 (Seller: EBS) $4310

3 – 0.90ct F VS1 (Seller: CRYSTAL) $4174

Focusing on the F’s – why are some more expensive than others, even though they are all GIA EX-EX-EX’s? i.e. the 0.94 above is cheaper than a lot of the 0.90′s.

From what you’ve mentioned previously there isn’t much difference between one EX cut and another. Is it just down to what price they want to sell at?

My friend is staying at the Mondrian Hotel in LA, checking in on Wednesday 26th August and checking out Sunday 30th August.

I was hoping he’d be staying with friends/family to have a safer postal address, although he thinks getting it shipped to the hotel should be ok (being a 5* boutique service should be better than most you’d hope). I suppose the package will be trackable none the less!

A: I’ll start the phone calls when these guys wake up.

Some are more expensive than others simply because it’s a free and open market, and some people want to try to make more money. Does every supermarket in your city sell cucumbers for the same price?

We’re going to have to act fast, especially if you’re going to have to send an international wire to pay for the stone. Do you use paypal? I’d prefer to accept my fee that way, but the vendor might be able to take it as well.

Q: You’re of course right about the cucumbers

I do use PayPal so I can pay you your fee directly if this works better for you.

My concern with sending payment by wire transfer is that it could take 2-5 days to clear from my end. As it’s more than likely a transaction will begin towards the end of a day (bearing in mind the time difference), the process won’t begin until the next working day.

Will the vendor accept a credit card? I can pay by American Express (or Mastercard)? (I’ve already spoken to them, they’ve put a note in the system to ensure it doesn’t get stopped as fraud). There’s a 2.5% transaction fee, but as I’m making a saving anyways I’d prefer to have the payment clear straight away to make sure there’s no delay with the shipping/ getting it to my friend in time.

A: Ok, so just to be clear, if they accept credit cards and add on 2.5% to the price, that’s OK with you? That’s preferable? What if they accept paypal, but also want to add 2.5 or 3%? Would that be OK?

Q: The credit card route would be preferable for me with the card merchant adding their fee – this is mainly because it saves me juggling funds between accounts. If I pay through PayPal direct from my bank account I’ll of course need to have the full amount available which I do not right now in one account (it’s spread over a couple – whilst I can begin transferring funds now it’ll save me this hassle and any delay).

This way I can pay both the vendor + you your fee straight away, vendor by card, you by PP.

A: Ok, I spoke with Esskay. The stone is available and they’re holding it until they receive payment. You should try to get it sent today if you can. I asked them about CC, and they were really hesitant. They said they’d have to do it through a different company, and it would have to wait for fraud inspection, etc.

Attached is the wire info. Send that ($4465 net of bank fees) and my fee ($446) as soon as possible. If you can get the wire sent today before the close, that would be the best. They didn’t mention anything about shipping, so I think you can get away with adding nothing for shipping.

Q: Ok I should be able to do the transfer right away – the money from my other accounts cleared into my main one pretty quickly.

So to be clear, I am wiring $4465+$446 = $4911 total to Esskay and they’ll send you on your commission?

A: No. I’d prefer you send me my fee separately via paypal to xxxxxxxxx@gmail.com

But the amounts are correct.

Q: Ok, I’m on the phone to the bank arranging the wire for 4465 to Esskay’s account.

Will get back to you shortly.

A: Did your friend give you the initial report yet?

Q: I just got off the phone with him (couldn’t get hold of him yesterday!)

He says the stone was delivered to his friend at Fox Searchlight on Wednesday morning, he collected the package off him Wednesday night.

I asked him to check whether the certificate & receipt were there and he mentioned all the documentation is there and he confirmed 0.94C.

He’s flying back Monday so I should have it Monday night/Tuesday morning.

I’ll let you know once he’s dropped it off to me

Q: Great. I look forward to your glowing report

Have a great weekend!

A: I met my friend late last night after his flight landed – I now have the diamond

It looks fantastic, I really can’t thank you enough for helping me thus far. I’ll be focusing on getting it set over the next month (know any setters in London? J ), so I’ll be sure to send a picture once the work is done.

On another note I mentioned to you a while back that my mother has purchased in the past diamonds from a trader in India. One of them is an IGI 1.1ct D VVS1. Now I don’t have the exact cut specifications for this diamond but if lets presume for a moment that it’s been poorly cut. Would there be any merit in getting it re-cut to attain an ‘excellent’ cut sacrificing some carat size? If this is done is it possible to get the stone re-certified? Just wondering how we could maximise the value of this stone.