A. Take a look at the attached screenshot. That’s most likely your stone. I searched for 2.05 H VS2 and the exact table and depth specified. That’s the only stone that came up. That price is the wholesale cost of the stone. The guy is taking you for a ride. He’s making 27%! Nobody does that any more.

I can get you the same stone for cost + a 10% brokering fee. let me know if you’re interested.

Q. Thank you for the quick response. That has to be the same one. It has the exact measurements as the GIA report he sent me via email. I was already leaning towards using this guy as a jeweler for the setting, but not necessarily for purchasing the rock.

I don’t mean to offend, but I am a little wary of purchasing through an individual I found over the internet. Although I don’t have a problem with Blue Nile or James Allen, it is harder to verify an individual than a corporation. That being said, my budget is $15,000 and I am trying to find the best emerald cut diamond I can. I have been using your website as a guide (it is very helpful having someone tell me I don’t need to buy a flawless stone) and was shooting for around 2 carats, but bigger would always be better.

A. I totally understand your reservations about having me broker you a stone. $15,000 is not a small amount of money. I’ll just offer you two things that might change your mind. Firstly, I can provide you with several references of people whom I’ve brokered stones for in the past. And secondly, the way it would work is that if I find a stone for you in the US, you will pay the stone’s owner directly. You will be wiring money directly to a wholesale diamond company – not me as an individual. Once you know the company’s name, you can feel free to do your due diligence. You’ll just be sending me my brokering fee. So there’s no risk of me running off with $15K.

If I find you a stone in Israel (where I live), then you’ll be invoiced through my friend’s company, www.fancydiamonds.net. They’re a very well established company around for several years with a very professional website. They’ve been around long enough that it won’t be difficult at all to find positive reviews about them on the ‘net. If you still have hesitations, I’d be happy to recommend specific stones to you online based on your budget and specifications. Just let me know! …… FYI: http://www.jamesallen.com/diamonds/H-VS2-Premium-Cut-Emerald-Diamond-1125757.asp?a_aid=dmnd1357 Looks like JA had it listed and it was sold.

Q. I think if I had a reference I could talk to stateside and it was a domestic company I would feel pretty comfortable with it. My work computer won’t let me get to fancydiamonds.net due to the word Cydia somewhere on the page. Apparently Cydia is an iPhone hack that they don’t want employees getting a hold of.

I would be happy to talk to you over the phone. My direct line is in my signature. With the commission I guess we would be looking at approximately $13,500 for the cost of the rock. I did notice that the James Allen markup for that stone was approximately 8%, so maybe that is the route to go. I am assuming you are compensated by them if you direct me there as well.

A. That’s so funny about cydia. I was curious, so I went to the page. Cydia is found one place on the home page. Unfortunately for them, it’s here: fanCYDIAmonds.net!

JA’s markup is closer to 15%. They probably have an agreement with that one vendor that knocks their cost down 10% or so from the advertised price on Rapnet. You are correct. JA does pay me a commission for traffic I refer to them. There’s an article about it on my site called “Truth about TruthAboutDiamonds.com.” I’ll give you a call later. Things are very busy in my house now. It’s almost dinner time here (I’m in Israel). Can I give you a call later tonight? Say, in about 3-4 hours?

Q. That works for me. Thanks.

A. You know what, I thought about it, and I think you’ll be better of just buying from James Allen. I can’t offer some of the support that they offer (30 day return policy, etc). And I’d rather you just do what you’re comfortable doing. I’m confident I can save you money, but it probably won’t be anything too significant in your price range. So here’s what i found for you on james allen: http://www.jamesallen.com/diamonds/G-VS2-Ideal-Cut-Emerald-Diamond-1201389.asp?a_aid=dmnd1357 http://www.jamesallen.com/diamonds/G-VS2-Ideal-Cut-Emerald-Diamond-1269572.asp?a_aid=dmnd1357 http://www.jamesallen.com/diamonds/H-VS2-Ideal-Cut-Emerald-Diamond-1128349.asp?a_aid=dmnd1357 Each of those is at least as nice as the stone you were offered. The first one, the 1.89 is the nicest cut. Great l/w ratio. Depth and table are right where they should be. Even though it’s the lightest stone, it’s the longest because of it’s better l/w ratio. Let me know what you think.

Q. What do you think of this one?

http://www.jamesallen.com/diamonds/H-VS1-Premium-Cut-Emerald-Diamond-1278425.asp

I am guessing 1.4-1.5 is considered the best emerald cut ratio? My overall inspiration is this ring, which my girlfriend has said she likes a lot.

http://www.bridal.cartier.com/index.php?t=1&nav=ficheprod&ref=N4190700&cc=us&codeLang=en

A. That stone looks stubby to me. Also, it’s deep. Compare the LxW to the 1.89 stone, and you’ll see that the 1.89 will look bigger.

Also, it’s less deep, so it’s weight isn’t wasted on it’s depth, its spread out in its area.

Q. I checked out Fancy Diamonds.net on my home computer and I would like to pursue having you potentially broker a diamond for me. I did see they have a New York office and seem quite reputable. The 1.89 carat diamond you listed below is definitely the best bang for my buck and has some of the best proportions I have seen. That being said it is a bit smaller and slightly less than I was hoping to spend. I understand you are fairly busy with Widow’s Mite, and I know this probably isn’t a particularly large purchase for you. That being said, I am excited by the potential of getting a larger, equally high quality (or better) diamond for a similar price.

I also noticed that when comparing James Allen images, the color change from H to G appears pretty evident. I can’t tell if it is just the photography or if it is only evident when compared side by side.

A. Wow. You’re good I actually sold thewidowsmite.net about 3 months ago. I need to update my linkedin profile.

Most likely, the difference in color you spotted was just an issue of photography. I’ve seen D color stones that have a yellowish tinge in the JA pics. The only thing I have found those pics to be useful for is to judge inclusions. Sunday is a full workday in Israel, so I will begin my search tomorrow for stones in Israel and update you if I have found anything. Alternatively, take a look at the attached screenshot. It’s search results from Rapnet which is the largest online wholesale trading site for the diamond trade. I searched for H+ VS2+. L/W Ratios 1.35-1.60. And max cost 14,000. I sorted the results descending by size. Have a look and let me know if anything catches your eye.

2.00 G VS2

…….

GIA Cert for 2.01 GVVS2

I hope you’re enjoying your weekend so far. Good news. I have two great stones to show you that we found today in Israel.

One is a G VS2 2.00. The broker didn’t have the cert available with him, but it’s GIA certified. The price on this one is $16000. That one’s nice, and it’s a decent deal. The pic is attached. The next stone, though, is a killer deal. We found a seller that is desperate to sell a beautiful stone. Attached is the cert and the pic of the stone. It’s a G VVS2 2.01. It’s got a great make for an emerald, with a perfect L/W ratio. The price for this one is $16,800. Compare this with the cheapest 2ct GVVS2 EM on James Allen for $18,150. I know it’s more than what you had hoped to spend, but relatively speaking, it’s a much better value.

2.01 G VVS2

Let me know what you think!

Q. Thanks for the suggestions. The two diamonds that you sent me are definitely beautiful, but are outside of my budget. My total cost with your commission for the 2.01 would be $18,480. That is just a little too high.

When I got into the office this morning I printed out the RapNet search you sent me and spent some time looking at it. The one stone that seems like a good value to me is the 2.05 carat H VVS2 from Edalati. I also found its listing on Blue Nile: http://www.bluenile.com/diamond-search?track=bbt#diamonds_pid=LD01594526. It is a little shorter than 1.5, but I am not sure if that will make a huge difference in the setting I have picked out.

Alternatively, I thought the 2.11 carat from Maxnew looked like a deal. It’s L/W ratio is 1.51 and pretty shallow. I couldn’t find that one on either James Allen or Blue Nile. If you could give me your thoughts on those two, it would be a huge help.

A. Miscommunication – the prices I quoted INCLUDED the commission.

Q. In that case, the 2.00 carat diamond looks great. A couple of questions. The table is a little smaller than the range that you recommend on truthaboutdiamonds.com. How will that affect its appearance? There don’t appear to be any eye visible inclusions from the picture, is that accurate? Both BN and JA have cut ratings. That isn’t in the GIA report, so what is it based on and in your opinion where would this diamond fall?

This does appear to be a pretty good deal. Blue Nile has a comparably priced stone, but it has strong fluorescence.

A. Does this change your perspective? Can you do 16,800? I checked BN also, and the nice make 2 ct GVVS2s are way over 16,8000.

Q. It does. I think our emails are crossing each other in the Atlantic somewhere. I had a few questions regarding the 2.0.

A. The 2.00 or the 2.01? What are the questions?

Q. I apologize. The 2.01 carat diamond that had the GIA report.

A. What are the questions?

Q. The table is a little smaller than the range that you recommend on truthaboutdiamonds.com. How will that affect its appearance?

There don’t appear to be any eye visible inclusions from the picture, is that accurate?

Both BN and JA have cut ratings. That isn’t in the GIA report, so what is it based on and in your opinion where would this diamond fall?

This does appear to be a pretty good deal. Blue Nile has a comparably priced stone, but it has strong fluorescence.

A. Ok, Here we go! Lets get the easy stuff out of the way first.

1) The BN comparable stone is not only strong flr, it’s also a very ugly make. Deep stone, big table, and off-square and off-rectangular. 1.15 or something like that ratio.

2) A VVS2 will never be visible to the naked eye. It’s microscopic. See my article “diamond clarity chart” here: http://www.truthaboutdiamonds.com/diamond-clarity-chart/

3) BJ and JA have a table of parameter ranges. If any of the parameters of a given stone fall beyond the range of one grade (ie, ideal), it gets knocked down to the lower level (ie, premium or very good). For example, lets say for rounds, JA’s ideal parameters for depth are about 60-62.5 and their parameters for table are 53-57. So if a stone has depth and table in that range, it’s ideal. Their next their might have a range of 59-59.9 and 62.6-63.5 for depth and 50-52 and 58-60 for table size for “premium.” The bounds of the different ranges are chosen on a very subjective basis. This is why I basically tell people to ignore the store’s cut grades. With rounds, you can always just rely on the GIA cert (which is based on a much more elegant solution that looks at combinations of parameters, and not at individual parameters separately). With square/rect fancy shapes, it’s pretty easy to learn what to look for. For the round-sided fancy shapes (oval, marquise, pear), it’s pretty much impossible to judge on parameters alone. You need a picture or even to see the stone in person.

4) The one diamond shape where the parameters matter the least is the emerald cut. Of course, L/W matters, because the basic shape of the diamond is affected, and part of the beauty of an emerald cut is its adherence to the natural beauty of the 1.5 rectangular ratio. Depth matters too, but not because it affect brilliance, because it simply affects how big the face of your diamond will be. With other shapes, the depth matters much more because it has a direct affect on the stone’s brilliance (how light is reflected around on the inside of the stone). Emerald cuts, though, aren’t brilliant cuts. They’re not cut to reflect light around and make sparkle. They’re cut to show off the simple beauty of the luster of a diamond. So shallow or deep, the diamond is still going to just be a clear mineral that you’re see light pass through (and not bounce around a thousand times). Likewise with the table size. With other shapes, the table size has a direct correlation to how well the light is reflected around inside the diamond. With Emeralds, though, it’s really just about how it makes the outside of the diamond look. You don’t want a diamond that just has a big flat window on top, you want a stone that’s built up a little bit with a few step facets on the sides. A smaller table adds to the beauty of an Emerald – it doesn’t detract from it. btw, take a look at this stone: http://www.jamesallen.com/diamonds/G-SI1-Ideal-Cut-Emerald-Diamond-1270856.asp You see, according to JA’s own parameter table, the parameters of the 2.01 would get an “Ideal” grade. Sorry I kind of rambled there, but was it clear?

Q. That is helps a lot. I do really like the stone, and I think it is within my price range. How would the billing work? Would this be through FancyDiamonds.net or another company? How would I be invoiced?

A. through fancydiamonds. You could either pay by wire or they could send you a google checkout invoice, but then they’d have to add 5% to cover their expenses.

Q. Either way I would like to see a formal invoice from the Company. I hope you understand that I am trying to add a layer of security for myself.

A. Of course. I don’t believe it will be a problem.

Q. I would like to go ahead with the purchase then for the 2.01 carat VVS2 diamond then. Please let me know what the next steps are.

A. Great! Do you want to pay by wire or google checkout (credit card)?

Q. Preferably by wire.

A. Here’s the instructions. If you can send the wire today, it’ll show tomorrow in Israel, and we’ll be able to make the shipment tomorrow as well. Please send your mailing address. is the phone number below the number you want on the shipment?

Q. I probably won’t be completing the wire today. I need to call my bank to get instructions from them as well. Would you be opposed to my contacting Leibish & Co. through their website to ask about your relationship with them?

A. Of course not! Go right ahead. The ceo is the closest thing I have to a brother.

Q. Despite my worries that this all seems a little too good to be true, everything appears to be transparent and legitimate. I just got off the phone with Yossi and he was very helpful. It is a bank holiday today in the U.S. (Martin Luther King Day) so my bank is currently closed. I talked to their customer service line and I need to go into the branch to wire the money. I will most likely be able to get it out on Wednesday.

Thank you for your help, and I am looking forward to seeing the diamond next week.

A. Great to hear. You will not be disappointed – I’m sure of that.

I’m here if you have any more questions.

Q. I completed the wire this afternoon. I don’t know how long it will take to show up in Israel. The bank told me anywhere from 2-10 days, but I doubt it will be that long.

A. In our experience, the money always shows up the following morning in Israel. ….. Just wanted to let you know the money arrived as expect this morning.

Q. What is the timeline for shipping?

A. Shipping today. Takes 2 days from Israel. Attached is the invoice you’ll be getting in the shipment. …… Hey *****. Did you receive the diamond? What do you think?

Q. I got the stone on Friday. It is beautiful and completely clear. I am hoping to get it appraised at lunch today. The jeweler that helped me look at settings on Saturday was very impressed with my buy and complimented the stone.

Thanks for the help!

…….

I got the diamond appraised today at lunch. Although it takes a couple of weeks to get the paper appraisal, he said he told me it would retail in the “low twenties.” I am currently shopping around for a setting, but that is a much easier task. Thanks again for all your help, and I am so happy this worked out. Although a bit of a leap of faith, you and Leibish and Co. couldn’t have been more professional. Let me know if there is a place I can provide a review because it would definitely be positive. I will definitely be referring my friends.

A. Sorry it took so long to respond to your wonderful update. I’m very happy to hear you’re totally satisfied with the purchase. I also want to thank you for taking that leap of faith. It’s easy from our side, because we know you’ll end up being completely satisfied with buying from us, but I recognize that the decision to buy from a complete stranger halfway across the world is not a simple one in the slightest.

If you have some spare time, it could really help me out if you wouldn’t mind leaving a little bit of feedback on ivouch.com. This helps me convince future customers that it’s safe and beneficial to buy through my brokering service. If you can do it, I would be most grateful. Here is a direct link if you decide to write something:

(URL REMOVED)

Thank you once again. And may you and your future wife share a long life together filled with health, happiness, and love.

Q. I just posted a review on iVouch. As I said before, it was a great buying experience, and I am happy I trusted you. After I propose next month I will be telling all of my friends that I know the guy that can get them great diamonds for a great price.

(see his ivouch here: http://www.ivouch.com/truthaboutdiamonds-com/great-diamond-buying-experience)

A. I couldn’t have asked for anything better! Thank you once again.

A: I’m so sorry I didn’t get back to you sooner. My mother and in-laws are both visiting us now in Israel and life has been a little crazy.

Would you mind telling me your budget? This would help me greatly. This way I can tell you the best Princess and Round you can get for your budget and then it will be a lot easier to decide between the two.

I look forward to hearing from you!

Q: Thanks for getting back to me, and Happy Chanukkah-my family just visited for the holiday as well so I know what it’s like! I’d prefer to spend at or below 20k. However, if there is something that dazzles the senses I might be able to manage 23-25k. Also, I know I said a 2 carat was optimum, but after reading your stories/advice-I am thinking maybe I should go bigger, and not waste the money on top shelf 4c’s, just so its “eye-clear” etc.(except Cut- I think the cut has to be near ideal/excellent to get the brillance-fire, right?).  Also, if your broker/commission service would produce a better price, and be mutually beneficial, that may be of interest-please advise. I was hoping to give it on Jan 15. I am in Las Vegas. Well, I reallly appreciate your help!

A: I think your revised priorities are right on track.  I would recommend you get an H or I color stone with SI2 clarity that I will verify to be eye-clean.  As you mentioned, you should definitely stick to ideal/excellent cut grades.

It seems like you can get a stone in this quality range clearly under $20K at 2.5cts.  That’s a significant and noticeable bump from 2cts.  If you wanted to get a full 3 cts, that would probably be around $25,000.

If I find a stone for you here in Israel, I could probably also get it set in something very basic for you to propose with, unless you already know exactly what she wants, in which case it might be better if you get it set yourself.

If you compare these prices with what you find on James Allen right now, you’ll see it’s basically the same.  Let me find a few actual stones and give you real prices, and then it will be much easier to compare.  I’m almost always able to beat the prices online, it’s just a matter of finding the right stone.

If I can’t beat the prices, then I’ll definitely let you know and help you pick the best stone online.

……

I wasn’t able to find a lot today, but I did manage to spot a very nice 2.51 I SI1 GIA certified Excellent Cut VG/VG Pol/Sym.  Your price on the stone would be 18,222.

That’s a good example of how I can be cheaper than the stores online.  Let me know if you’d like me to pursue this one further.  I can get you a scan of the certificate tomorrow and possibly even a photo of the diamond.

Q: Ira, thanks, a good start. I’m in meetings all day, but will get back to you this evening.

……

That’s a good range on carat size, 2.5 to 2.75, no need to go to 3. Yeah, I think ideal/excellent cut is a must. What’s the chance of finding a G/H and VS1/2 in my carat/price range. I know that’s mighty wishful, but it might happen. Let me know what you come up with. Talk to you soon.

A: I just checked for you and while I don’t have any specific stones now that I’m seeing, I have a feel for the price range, and it’s going to be way out of your budget.  An excellent cut H VS2 2.50 carat stone is going to be around 30,000.

But I honestly don’t believe there’s any added benefit to going that high in clarity.  If I find you an eye-clean SI2, it’s going to look exactly the same to your eye, but feel a lot different to your wallet.

……

Actually, I just saw a 2.62 H VS2 triple excellent for 28750.  It’s still significantly over your budget, but I did want to let you know about it anyway.

……

So here’s what I accomplished today. The I SI1 from yesterday is no good. IT has a black inclusion in the center that’s eye-visible.

I found two new stones today. Attached are their certs.

One is a 2.52 I IS1, and one is a 2.62 I SI2. Both triple excellent GIA. Both gorgeous stones with very nice translucent/whiteish inclusions that are totally eye clean. They both look totally white face-up. They are two killer stones. I also managed to get a picture of them both. But honestly, they’re both so nice and eye clean, that you can’t really tell them apart in the picture.

The price for the SI1 is 20,000 even. The price for the SI2 is 18500.

Cert of 2.52ct Stone

2.52ct & 2.62ct Diamonds

Cert of 2.62ct Stone

2.62ct & 2.52ct Diamonds

Q:Hi Ira, understood. 28k to 30k is too far over budget. Let’s just aim for the best that’s out there around my budget. 20k I liked the stone you mentioned, just wanted to see if there was some room to go up 1 step in clarity etc. Oh, what is” triple ” excellent?

A: Triple Excellent means that GIA gave the diamond the highest grade possible for Polish, Symmetry, and Cut.   Basically, it means the cut on the diamond is as good as it can be.  It’s top quality.

Q: Great work. I will view them today and get back to you. Going into meeting right now. Thanks Ira!

…..

Both those stones look amazing. You probably hear this alot, but, I am trusting your judgment-you have the best knowledge and experience. You certainly impressed me and I am grateful for your insight and help. To me, they look like near twins. Although, the 2.52 I SI1 appears just a hair brighter/clearer/H&A-ish. So, I guess that is the front runner to me.

One is drawn to the larger 2.62, but doesn’t the picture and lighting (or diamond itself) seem slightly less bright/clear/fire in comparison?

What do you think? Is there a difference between the two?

Is it worth going to an H color?

For what its worth, Bluenile had some 2.55 GIA Ideal H SI2 for 18-21k. However, as you pointed out, not all inclusions/color are what they say on paper and requires a trained eye to inspect it (i.e., the first one you spotted-w/ black marks).

Also, at some point, I will need to know how the whole payment-shipping will be accomplished. I will probably have it first set in a simple setting to propose. If the stone happens to be in Israel already, a setting with your contact may be easiest, especially with my desired timeline. Thanks!

A:  One thing I forgot to mention – the two stones were switched between the two pictures The stone on the right in both pictures was simply facing the camera more directly, that’s why you were able to see the H&A patterns easier. I actually think you should go for the 2.62. There’s one more stone that a vendor here in the bourse is returning from Hong Kong that is due to arrive today. I want to examine that stone first, and then we should make a decision. I very much appreciate your trust, and I want to make sure we get the best stone for you for the money.

Getting a simple setting shouldn’t be a problem, either. There might be one small issue with it, though. I’ll get back to that in a second.

The way it works when I broker stones for people in Israel is the customer wires money to my friend’s company. You can take a look at their site. www.fancydiamonds.net. Maybe while you’re there, see if anything they have looks interesting to you. They specialize in fancy color diamonds. (ie. this stone http://www.fancydiamonds.net/view_diamonds/3483.htm is 3.19 carats fancy yellow cushion cut for just under $20k) Since only official members of the Israel diamond bourse can buy and sell, they handle my transactions for me (and take a fee, of course). I’ll send you the wiring instructions when you’re ready.

The issue is that it’s very hard to get wholesale trading companies to agree to allow a return. All transactions in the bourse are final once the traditional “mazal u’vracha” (hebrew for “luck and blessing”) has been said and a handshake given. So asking a vendor to allow a return for up to a week or two is usually like pulling teeth. Getting it is difficult but usually not a problem, but it’s generally not more than a week or two. So having the stone set will simply take another day or two out of that window for you. I’ll leave that decision up to you.

So I’ll get back to you as soon as I’ve seen the new stone. Let me know if you have any more questions.

Q: Great Ira, I look forward to seeing what the Hong Kong stone is like.  Also, for clarity, which is the 2.62 diamond in the pics, they both look so much alike in size.

A: The HK stone won’t arrive until Sunday as it turns out. Do you have time to wait?

Q: No problem, Sundays fine.

A: Great. I’ll get back to you then.  Enjoy your long weekend!

Q: Hi Ira, any word yet?

A: Sorry about the delay. The company claims it had issues with Israeli customs when it was shipped back from HK. Give me tomorrow – if they don’t deliver, then its clear they’re playing games. I’ll give you an answer either way tomorrow.

…….

Ok, got some good info for you today.

The 2.51 we spoke about is finally in. The good news is that this SI1 is cheaper than the other one. This one’s 18,700 vs. 20,000 for the other one. The bad news is that the SI1 is a small black spot in the center of the stone. With a jewelers loupe you see it right away, but with the naked eye, you don’t see it right away. It’s the kind of thing where if you held the stone up to the light and looked at it very closely, you’d be able to spot it after 10 seconds or so. So you’ll have to decide for yourself whether this will bother you (and your fiance) or not. My wife’s diamond has a similar spot, and she never noticed it.

I also found for you a 2.31 I SI1. This one also has a great price, but also has a blackish inclusion in the center. But this one is even more faint than the other (and likewise harder to see). This one costs $16,500. That’s a really great price.

I also found a 2.28 H SI1. Price on this one is 19,200. The SI1 on this stone is perfect. The only downside to this stone is that it’s a VG cut, but face up it really looks beautiful. It’s very very hard to notice any real difference in sparkle.

The certs and pics of the stones are attached. The 2.51 is in both of the pics.

In my opinion, the 2.31 is the best deal out of any of these. The stone has Medium blue fluorescence which actually makes the I look a tiny bit whiter. There’s no discernable difference in color between the I with the Medium Fluorescence and the 2.28 H Color. From 12 inches away, the stone is eye clean. I just think you’re getting more for your money vs. the other four stones we’ve discussed. Even though it’s 20 points lighter than the 2.51, it’s only 0.09mm smaller in diameter. That difference in size isn’t even perceptible to the naked eye, so it really looks like a full 2.5 ct stone.

I look forward to hearing from you!

2.51ct & 2.28ct Diamonds

Cert of 2.28ct Diamond

2.51ct & 2.31ct Diamonds

Cert of 2.51ct Diamond

Cert of 2.31ct

Q: My finace will not care if a jeweler notices a small inclusion under a loup, but I definitely want it to be eye-clean. She WILL be showing it off-not b/c a snobby girl, just one that puts a lot of attention and pride in her jewelry. If looking with naked eye she can see inclusions/black outs-i want to pass on those diamonds. Thus, I’m a little hesitant about the 2.51.

The 2.31 seems like a good choice, especially b/c you favor it too. Again, I assume that b/c the black inclusion is faint and smaller than the 2.51, this will not be noticeable to the naked eye. I also like the price.

The prior emailed 2.62 is a very impressive stone also, and without the black out inclusions, this has got to be in the running too.

I do have a couple follow up questions:
1.Does the blue flour. give any milky tone to the stone in the 2.31?
2.you and i were impressed by the prior 2 diamonds(2.5/2.62), especially the white inclusions/cleanliness and triple excellent cut. So, how does 2.31 compare? Why go with the 2.31 over the 2.62?

Thanks for all your help; I think we are near a decision.

A: About the fluorescence: there’s absolutely no milkiness/cloudiness in that stone.  Med fluorescence on an I color will never be milky.  I actually recommend specifically seeking out this combination in my article about Fluorescence (http://www.truthaboutdiamonds.com/truth-about/diamond-fluorescence/ – see the “bottom line recommendation”)

It’s true the 2.62 is a great stone, but i’m not sure it’s worth $2000 more.  The cut (which is most important) is just as nice on the 2.31.  The color on the 2.31 is slightly better due to the fluorescence.  And both are clean to the naked eye.  And remember, the 2.31 is an SI1 whereas the 2.62 is an SI2.  So the cheaper price is really significantly cheaper.  If both were SI2s, then you could understand the price difference would be related to the size.  If the underlying price level were the same, then the 2.31 should be about the same price as the 2.62 because it’s an SI1 and the 2.62 is an SI2, but it’s still $2000 cheaper.  It’s just a significantly better value.

There’s one more issue.  The vendor that owns the 2.62 is a very rigid company. They have the largest inventory in the Israel market for large excellent cut GIA certified stones.  Their business model is that they ask high prices and wait for the right customer.  That’s why the prices last week were just OK.   But it might also be an issue with them to guarantee a certain amount of time to allow you to return the stone.  Since all transactions in the Israel diamond bourse are final wholesale transactions between dealers, we need to request a special exception in your case to allow you to return the stone.  I can’t take the risk of owning the stone myself.

The owner of the 2.31 is just a regular company looking to move their merchandise at a price they’re comfortable with.  They like to turn their inventory as fast as possible (unlike the owner of the 2.62 who is much more patient).  So it wont’ be a problem getting them to agree to a return period.

Let me know what you’d like to do!  The quicker you decide, the better the odds they won’t be sold to someone else.

Q: Your advice is sound and good. Let’s go with the 2.31 SI 1 . I need to know exactly how to pay for the diamond. Totals,wiring instr. etc. Do they accept any VISA or all in cash.

When Can you have it here? I leave January 14th, and need my guys here to set it in a ring first.

Many thanks! I am confident the ring will be great!

A: I think that’s the best choice.  You can pay by credit card via google checkout or paypal, but we’d have to add on about 5% to cover the expenses.  The best option is to send a wire transfer.  See the attached file for instructions.

If you send the wire today (tomorrow for you – Wednesday), then we’ll have it on Thursday and ship it then.  In that case, you’ll have it on Friday.

Let me know if you have any questions!

Q: Thanks for the wire instructions. Becuase of my timeline, I cannot spare the week long delay of bank procedures in order to wire the full amount. So, I will wire half, and pay the rest through credit card paypal. Does this cover everything:
($8,250) wire, ($8,250) paypal; 5% CC fee ($412.50).

A: That should work fine.  Can you get the wire out today so we can arrange the shipment tomorrow?  The diamond bourse is closed on Friday (not because it’s 1/1 – it’s closed every Friday), so the next available day to ship would be Sunday (it’s opened Sunday – Thursday.  Sunday is a regular work day in Israel).

I emailed Yossi Polnauer, CEO of Leibish Fancy Diamonds, requesting him to send you an invoice for 8662.50.  He just got back to me quickly that he prefers Google Checkout.  It works the same way.  Let me know if it’s a problem.

Q: Should get it done, in the works! If it doesn’t go out till Sun. that should be enough time too.

……

Sent full payment to Yossi today 1/2 by wire, 1/2 by Google. I gave him my shipping address too. Your help was immense. Thank you! I’ll check back with you soon.

…..

The diamond arrived today! Looks great. Taking it to get set& will let you know how it goes!

A: Great to hear! I knew you’d love it. I’d love to hear how the ring turns out.

A: Thanks for writing.  Let me clear up a few things before we begin:

1) There are two services I provide.  One, I will help you choose the best diamond for your budget from online stores.  This service is free for you, as the various stores I work with (and I only work with the biggest and best and cheapest) pay me a commission for this service.  The other service I provide is I will help match you up with a stone direct from a wholesale company.  For this service, I charge you 10%. With your budget, it will most likely be cheaper with the 2nd brokering option.

2) The reason why rounds are more expensive has nothing to do with demand.  The reason is due to the yield from rough.  Yield from rough for princess cuts is over 80% whereas yields for round stones are about 40%.

Having said that, lets get to work!

In terms of rounds, it looks like it will be tough to get in your budget.  Here’s a the cheapest 3ct  J VS2 on James Allen:
http://www.jamesallen.com/diamonds/J-VS2-Ideal-Cut-Round-Diamond-1261945.asp

James Allen didn’t have any J VS2 Princess Cuts, but they did have this:
http://www.jamesallen.com/diamonds/J-VS1-Ideal-Cut-Princess-Diamond-1235954.asp

Compare that with the attached screenshot.  This is a search I did on Rapnet, the largest industry-only wholesale trade site.  The first stone (too deep) and 2nd stone (table way too big) have a ugly makes , but the 3rd stone looks VERY nice.  So your price would be what’s written there + another 10%.  So that would be 17,627.

See the next screenshot for Radiants.

Have a look at all of these, and let me know what you think!

Click to Enlarge

Click to Enlarge

Q: Thank you. If you offer me significant savings, I would rather you find me the perfect diamond. But do you refer me to the dealer? How do I pay the diamond?and do I get a return policy? If recive the stone and have to get it set I suppose. Sorry I am a bit time restrained. I work in Dubai and need this to shipped to the U.S. and forwarded to Thailand or just forwarded to Thailand. I am meeting my girlfriend in Bangkok on the 16th of December to propose. Sorry after some research from you sight. I am set on a brillant round, 3carat+, ideal, SI1, J, fnt blue flourescent if possible. I can go up to 23k. Thanks.

A:  Hey C. Got the perfect stone for you:

http://www2.gia.edu/reportcheck/index.cfm?fuseaction=home.showReportVerification&reportno=1106603427&weight=3.01

The total price including my commission will be 21,452.

The diamond can be shipped as soon as the money is paid. The way I usually work is that you pay me and the stone’s owner separately.  This way you know I’m only taking exactly my 10% fee and nothing else. And also, you can feel better knowing you’re wiring your money to an established diamond wholesale company and not some stranger you met on the internet.

Since every time the deal is with a different dealer, I can’t make a set return policy.  Usually the dealers are understanding and want future business, so they’re willing to give me some time.   You’ll have at least a week or two for sure, but I will try to negotiate for a little more.

We could have to stone shipped either to you in the US, or direct to Dubai or Thailand.  Not a problem.  Btw, I used to work quite a bit in Dubai as well.  Leo Schachter, my former employer, has an office in the Gold Land building in the Gold Souk.  I used to go there every month or so from Israel (through Jordan – one of the few countries in the region with relations with both countries).

But if you’re concerned about having the stone inspected during the window of time when you can return it, I would recommend you take delivery in the US and bring it to a local professional independent jewelry appraiser.

Let me know what you think.  If you are interested in this stone, I’ll make the call tomorrow.

Btw, how are you going to have the stone set?  Would you like me to help you with this as well?

Enjoy your Sunday!

Q: Ira,

I took a look at the link. It doesn’t have all the information like a regular GIA report. I like to know how the inclusions look like, even if not very accurately in the diagrams thats usually on the report. I have look through your site pretty extensively and or thru all the online diamond inventories. I am finding similar stones on blue nile for approximately the same price as your service. Do you have access to the stones. Due to the size, I want this stone to be eyeclean as you call it. In fact, I have found larger stones such as this http://www.bluenile.com/round-diamond-3-carat-ideal-cut-j-color-si2-clarity_LD01553603 that looks from the diagram  ”eyeclean”.

These two are still available at Bluenile after the discount comes to your approximate price.

http://www.bluenile.com/round-diamond-3-carat-ideal-cut-j-color-si1-clarity_LD01597600

and

http://www.bluenile.com/round-diamond-3-carat-ideal-cut-j-color-si1-clarity_LD01582937

If you can let me know that the stone you recommended is better, find a bigger diamond of similar quality for a similar price or can haggle with the sender for me, its hard for me risk the return policy and add the additional time with the setting.  I value your service and you site is a vault of information. If we can both benefit from this exchange.

Worst case scenario, I am actually in Afghanistan on a project for next few weeks and returning to Dubai mid December before heading to Thailand. If you have contacts there, and we are unable to find a diamond before then, I can always take a short trip to the Souk.

A: There must be something in the air.  You are the 3rd person in the last month who is based in Afghanistan to contact me for help.  I will take a look at these stones in a bit and get you an answer.  I can get you a scan of the other stone, but I need to request it from the stone’s owner and they’re not working today.  The GIA report check was all I have available today.

Btw, what discount are you referring to from BN?

Q: Ira,

Haha.. yes a lot of money is being poured into Afghanistan. I am here to get my little chunk or rather the biggest chunk for my company. Yes if you get me the report, that would be fantastic Ira. I decided to get married, short notice, and have to shop online while I am here on this project.

I meant the wire discount, unless you have a top secret code your willign to share for a percentage!

A: No, I wasnt’ aware of any, that’s why I was asking if you knew about one!

I’ll ask for the cert tomorrow.  I’m in the middle of a long email to you now.  You’ll get it in a sec.

……

I checked the three stones.  Here’s the thing about eye-cleanliness:

Odds are on a 3 carat stone that an SI1 is eye clean.  There’s certainly no guarantee, but the odds are probably between 60-70%.  I2s, however, are most likely NOT eye clean on a 3 ct stone.

You shouldn’t be fooled by inclusion plots on a GIA cert.  They give you absolutely no indication of eye-cleanliness.  You can have a feather that’s a dead white inclusion, or you could have a feather that’s completely translucent.  But on the plot, they will look exactly the same.  The plot only tells you type and location of the inclusions.  It doesn’t tell you anything of their strength or color, which are the most important factors determining eye-cleanliness.

For the SI1 I was recommending, I was going to have a colleague inspect it in NY before it shipped to you.

As far as your three suggestions go, I like the 2nd stone the best.  Ironically, it’s owned by my former employer Leo Schachter in Israel.  I had already seen the stone in the Rap results I generated this morning when I found the faint fluorescent stone I sent you earlier.  That stone was listed at 28% back and this stone from Leo Schachter is listed at 25% back. I called them to see if they could lower their price so I could offer you another stone.  I am still waiting for their response.  Needless to say, I will make sure to beat BN’s price to make it worth your while to buy through me.   I can also have the stone set for you in NY, or alternatively, I can have the stone shipped to Dubai for you to pick it up there.  I also spoke to them about extending the return window to 30 days.  If I can get them to go down to 28% back, so I could provide you that same stone for 21,455. That’s about $500 cheaper than BN.   Additionally, I could go into the diamond bourse myself and inspect it with my own eyes to guarantee eye cleanliness or not.

Q: Ira,

I think I will rely on you expertise. Shopping from some data on certs seems crazy. Do you operate out of nyc? I am a New Yorker myself out of brooklyn.

Can you view the stone you suggested first as well?

Once I know, I can make a decision and find a setting from Tacori or alike.

A: I’m in Israel, but I have a close friend in NY I can send to inspect the stone.  I myself can inspect the stone in Israel.

Both of my parents are brooklynites.  Both went to Midwood.

I’ll let you know about the cert for the first stone tomorrow, and whether or not my former employer can lower their price.

Q:  Ira,

How are we doing on the hunt?

What do you think of this stone below?

http://www.bluenile.com/round-diamond-3-carat-ideal-cut-j-color-si1-clarity_LD01493739

A: That stone says not available.  And also don’t know if it’s eye clean.  The SI1 looks concentrated dead center based on the plot. Not conclusive, but needs to be checked.

Called for the cert once already today.  They weren’t in yet.  About to call again.

Still don’t have a definitive answer from my former employer about the other stone.  I’ll have all the answers soon for you.  Sit tight!

……

Update: they didn’t have a scan, so in the meantime they faxed me a copy. I’ll scan it and email it to you in a bit. I’m writing to you now from my blackberry as I give my baby a bath before bedtime

…..

Update:  The fax was really poor quality. So I called them back and asked them to scan it.  The secretary then passed me to the boss and he told me that the SI1 is not a nice SI1.  He said if you study it carefully you can definitely see the SI1 with your naked eye.

So lets move on to the other option.  The one owned by my former employer.  I’m still waiting their answer.  I hope they’ll be able to give it to me tomorrow.

I’ll be in touch.

……..

Click to Enlarge

I found this stone which was priced ridiculously cheap.  It’s a J with Medium Blue, so it will face up like an I color.  It’s priced at -36% back, where most of the J SI2 EX cuts are priced at around -25%.

There’s just one downside – the stone is in India.  So I can’t check it, and I don’t have anyone to check it.

The owner says it’s a very nice SI2 and is eye clean.

He says he’ll give you one week to return the stone for a full refund, but for 30 days he said he would need to charge you 3%.

The cost of the stone is 15,411, so your final total including my fee would be 16,952.

I think it’s worth going for.  You just need to time it well that you can have an appraiser look at it for you within that week.

Let me know what you think.

Q: This stone sounds like a good deal. Is this a stone you just found? What are the spec’s? carat weight? If I can see the GIA report, even better a picture, I think I will go for it. As for the return policy, I am having it send to California to my relative to check it for me. This one week does not include the shipping time right? It’ll take 2-3 days to reach California. Can we push for 2 weeks?

The diagram looks pretty clean. You look at these certs everydays and the actual stones. Seems most of the inclusions are concentrated outside of the table. How do you free about it? If we can clarify on the return date, or a possible extension of a week due to delivery time involved, I think this will be a good choice for the price. If they would be so kind to provide picture, we can finalize this sale.

How does this work? I wire money directly to the wholesaler. How can I pursue the return with a wholesaler, outside of the U.S.  Will I be provided an invoice? SInce they operate in India, I am a bit shaky on the business. I can wire the money and not get anything. I am sure you have done this quite a few times. With there be a sales agreement with the wholesaler.. etc? Thanks Ira

A: In all honesty, you can’t tell what a stone will look like based on the inclusion plot.

I’ll make sure the 7 days doesn’t include shipping time.  There’s almost no chance they’ll be able to take a picture.  I’ve never met a wholesaler who has this service.

Yes, you would wire money directly to the wholesaler, and you would send me the money one of several ways.  I’d prefer it if you could just pop into a bank of america and deposit it directly into my account.

As far as this dealer being trust worthy, you can’t become a member of rapnet unless you’re an upstanding member of the trade.  So just by dint of the fact that they’re on Rapnet, it’s enough to trust that they’ll ship this stone.

As far as the return procedure goes, I’ll have to ask him.  Since there’s very high VAT & Customs in India, I’m assuming he’d have to send you an invoice along so you can send it back to prove that it’s a return of an export and not a new import.

I’ll inquire about these various issues and get back to you asap.

Q: zoomed in on the diagram. There looks to be a big cloud in the center with a smaller one in the table.. I am going to need a picture. Its a big purchase with a foriegn vendor.

The stone, I linked you in Blue nile is one they have on hold for me hence unavailable. Its looks from the Diagram to be extremely clean(perhaps a bad scan).  The price is $22,816. If you can not locate anything on RAPS, this seems to be a good choice. Perhaps we can bypass bluenile on this and can both profit on the diamond. Worst case, you can give an opinion on the stone and you can refer me to the diamond, so you can take a comission from Bluenile.

A: It wasn’t meant to be!  See email below from the vendor in India.

I have more options better than BN. Don’t give up yet!

Sent from my BlackBerry

the stone is 80 percent eye clean.

KUNAL A NAHAR

Ok!  It’s been a busy morning.  Here’s the update:

The 2nd stone is in California, so I still haven’t heard from them.

The first stone was sold.

But since I got my friend Yossi involved, he started asking around the diamond bourse today and found two other options.

He has both stones in his office now.  Attached are the certs.

Click to Enlarge

Both are triple excellent ideal makes.

1) The first stone is Strong Blue fluorescence, which is actually a plus for a J color stone.  If you see my articles on Color and Fluorescence, I recommend as such as well.  On occasion a SB stone can look milky or cloudy, so in general when buying online sight unseen I don’t recommend it, but Yossi inspected the stone and said there is no milkiness at all.  He did say that the Fluorescence makes the stone look like an I or even an H.  With the loupe, you can see very small black dots in the table.  He said that from 5-10cm (about 4 inches) if you look very hard you can see them with your naked eye, but beyond that they aren’t visible to the naked eye.  This stone is 19,900 (including my commission).

2) The 2nd stone has no fluorescence.  This stone is completely eye clean.  The SI1 is white and completely invisible to the naked eye.  This stone is 23,950 (including my commission).

Lucky for us, Yossi has a great photography setup in his office (for his website – did you see it yet?).  Attached is a photo of the two stones. The stone on the left is the one with fluorescence.  I don’t think you can see the black inclusions in the pic because he focused at a lower depth in the stone.

Click to Enlarge

I personally think the stone with Fluor. is a much better deal.   It’s a better make.  Most ideal cut aficionados prefer smaller tables (53-57%).  The 2nd stone has a 60% table.  Also, it’s just much better value.  There’s an unfair stigma on Strong Blue stones across the board in the industry, when, in fact, the stigma should only apply to higher color stones (D-G).  It’s very rare that an I/J/K color stone with Strong Blue shows milkiness.  So it’s only because of this misplaced stigma that this stone is so much cheaper.

The only caveat I would have is if you or your fiance-to-be are the type of people who are very fastidious, then seeing the tiny black spots at 4 inches might get on your nerves.  Generally, people use 10-12 inches as the standard for judging eye-cleanliness.   Four inches is very close.

Click to Enlarge

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.