Buying Diamonds

Buying diamonds - not easy, but can be enjoyable

Later on this page, I will tell you how to save hundreds of hours of your time - and countless dollars. But for now, lets be honest - everybody wants to buy diamonds on the cheap. Good luck!
Diamonds are not a necessity - you buy them with disposable money - guess what - when you buy a diamond, your disposable money will be disposed off.

Why you cannot get great deals on diamonds - costs

Despite what you may read on the Internet, good deals on diamonds are pretty much impossible to find for a normal person. Unless you have a close personal friend in the diamond business, forget about getting a really good deal on a diamond.
Why?
Because everyone wants to make a buck.
Diamond industry is literally a cutthroat industry.
You probably heard of "blood diamonds" - used to fund revolutions and all kinds of mayhem.
A lot of miners die either violent death or in industrial accidents while mining for diamonds.
Large, ruthless companies control most of the diamond trade. Many small middlemen buy diamonds in far away places from indepent miners (or bootleg diamonds stolen from the major mines) hoping to resell at a great profit in Tel Aviv, Antwerp, London or New York.
Raw diamonds have to be polished on expensive machines by expensive specialists to turn them into something worthwhile. Retailers need to pay rent for shopping center stores, salaries and commissions of the staff, insurance, taxes, inventory costs, security measures, and private jets for excutives. All these costs get added to the cost of the diamond that you and I get to buy.

Diamonds on Amazon

14k White Gold Round Solitaire Diamond Engagement Ring (1/2 ct, H-I Color, SI2-I1 Clarity)

Amazon Price: $1,399.99 (as of 12/04/2008)

10.28cttw Round Diamond Stud Earrings Egl I/SI1-Si2

Amazon Price: $153,854.00 (as of 12/04/2008)

18k White Gold, Round, Diamond 4-Prong Stud Earrings (1/2 cttw, H-I Color, SI1-SI2 Clarity)

Amazon Price: $869.99 (as of 12/04/2008)

14K White Gold Round Diamond 4-Prong Stud Earrings (3/8ctw, G-H, SI2-I1)

Amazon Price: $335.00 (as of 12/04/2008)

18k White Gold, Round, Diamond 4-Prong Stud Earrings (1/4 cttw, H-I Color, SI1-SI2 Clarity)

Amazon Price: $369.99 (as of 12/04/2008)

Why you cannot get great deals on diamonds - lack of expertise

If I told you that I had a diamond for sale: 90 points, SI1, color H, brilliant cut,
for $1200 - would it be a good deal?
If I told you that I had a diamond for sale:
1 carat, I2, color K, brilliant cut,
for $4200 - would it be a good deal?
If you cannot instantly asnwer that first deal is a good deal, and second deal is a dog - how will you recognize a good deal when it comes your way?

If you feel like going on a wilde ride... or doing some market research...

Fetching new data from eBay now... please stand by

Why you cannot get great deals on diamonds - lack of expertise 2

If I showed you a diamond - 1 carat, VS1, color G, brilliant cut - and showed you a cerftificate from Gemmological Institue of America that supposedly was issued for this diamond - could you tell if the diamond matched the certificate?
If not, how do you expect to get a good deal on diamonds?

Diamond earrings

14k White Gold, Round, Diamond Stud Earrings (1/2 cttw, J-K Color, I2-I3 Clarity)

Amazon Price: $99.99 (as of 12/04/2008)

14k White Gold, Round, Diamond Stud Earrings (1/3 cttw, K-L Color, I3 Clarity)

Amazon Price: $89.99 (as of 12/04/2008)

14K White Gold Princess Diamond 4-Prong Stud Earrings (3/4ctw, J-K, I2-I3)

Amazon Price: $395.00 (as of 12/04/2008)

14K White Gold Princess Diamond 4-Prong Stud Earrings (1/3ctw, J-K, I2-I3)

Amazon Price: $135.00 (as of 12/04/2008)

14K White Gold Princess Diamond 4-Prong Stud Earrings (1/4ctw, J-K, I2-I3)

Amazon Price: $99.00 (as of 12/04/2008)

Why you cannot get great deals on diamonds - lack of market data

Do you know what the price trend is for 1 carat SI1 diamonds for the last 6 months?

Do you have a current copy of the "rap sheet" , ie. the Rapaport report - which lists wholesale prices for diamonds? Do you know where to get it?

How do you expect to get a good deal if you don't know if you are paying wholesale or retail?

Diamond pendants

14k White Gold, Princess-Cut, Diamond Classic 4-Prong Pendant (1/10 cttw, J-K Color, I2-I3 Clarity)

Amazon Price: $99.99 (as of 12/04/2008)

10k White Gold Black Diamond Infinity Pendant (1/4 cttw)

Amazon Price: $99.99 (as of 12/04/2008)

Sirena Diamond Solitaire Pendant 1/20ct

Amazon Price: $200.00 (as of 12/04/2008)

10k White Gold Round Diamond Solitaire Pendant (1/10 ct, J-K Color, I2-I3 Clarity)

Amazon Price: $59.99 (as of 12/04/2008)

14k White Gold 1/2 Ctw Diamond Circle of Life Pendant/chain (VS-F)

Amazon Price: (as of 12/04/2008)

Getting a decent deal - how to save hundreds of hours and dollars shopping for diamonds

Easiest way - do not buy diamonds.
Seriously, if you are in the market for a diamond ring for that special someone, simply pick a reputable store, and wait for a big sale, then go in and spend as much time as you want looking at the diamonds (the longer you take, the more the store has invested in you - and is more likely to make a deal), pick the diamond you want, and offer to pay 30% less than the sales price (don't worry, they have plenty of margin to work with). Take any discount they give you. Even if only the advertised sale price. Done.
You have saved hundreds of hours looking for a deal, driving to weird places, potentially thousands by not being ripped off by shady characters.
IF you want to buy online - you could try a place like Amazon. If you want a really wilde ride - try EBay, though I recommend bidding only where the buyer protection is offered.

Diamond Rings

Three Stone Round Brilliant Diamond Ring 1/3ctw (GH/I1) in 14K White Gold - Size 6

Amazon Price: $424.99 (as of 12/04/2008)

1.05 CT Round Brilliant Diamond Solitaire Engagement Ring

Amazon Price: (as of 12/04/2008)

1 ct. Round Diamond Solitaire Ring

Amazon Price: $2,499.00 (as of 12/04/2008)

Three Stone Diamond Ring 1/4ctw - Size 6.5

Amazon Price: $304.99 (as of 12/04/2008)

2 carat VS1 DIAMOND engagement ring antique white gold

Amazon Price: $3,588.00 (as of 12/04/2008)

What to get - remember - when it comes to diamonds - size matters

Having done massive market research, the industry discovered that size matters - women would rather have a bigger diamond than a better diamond - with a caveat - it's cannot be ugly.

So here is the way for ordinary mortals like us to get the best deal on diamonds:

1) size - ask for a 90 point (that's 0.9 carat) -
it looks just as big as 1 carat diamond but is a lot cheaper ( 1 carat is a magic size that makes the price go way up )

2) clarity - buy SI1 - SI stands for Slight Inclusions 1 - by definition, those are not visible to the naked eye. If you can spot problems just looking at a diamond, it is not SI, but I ("I" stands for inclusions) or you have ridiculously good eyesight (it's safe to assume your eyesight is average and the diamond is I1 or worse).
DO NOT by "I" grade diamonds - they look crappy and are often brittle due to all the internal defects.

3) color - if the diamond will be set in white gold or platinum - pick H color
- the diamond will be set in yellowgold - it's ok to get K color

4) cut - get "round brilliant" - this is the most popular round cut that gives the diamond most light and life.

5) Since this is a sizable diamond, the store should have a recent (6 months, not older) certification/grading report from GIA or EGA.

6) Make sure the diamond is not "enhanced" or "repaired" - the store should disclose it, and it will definitely by on the GIA or EGA report.

That's it! These parameters will get you the most diamond for the least amount of money. They are good enough that the diamond will look pretty and sizewise as big as 1 carat, yet will cost a lot less than a similar 1 carat stone.

Now, for a bit of practice
click this link - and have fun!

Diamond Rings - Yellow Gold

An Estate 14K Yellow Gold Diamond Ring

Amazon Price: $399.99 (as of 12/04/2008)

3.51 carat diamond engagement ring band set yellow gold

Amazon Price: $4,888.00 (as of 12/04/2008)

14K YELLOW GOLD SOLITAIRE DIAMOND SNAP IN NIPPLE RING

Amazon Price: (as of 12/04/2008)

14kt Yellow Gold Keychain

Amazon Price: $1,006.00 (as of 12/04/2008)

14-Karat Yellow Gold Ruby and Diamond Ring

Amazon Price: (as of 12/04/2008)

If you want to spend some time learning more about diamonds, here are 2 good books to get

How To Buy A Diamond: Insider Secrets For Getting Your Money's Worth, 5th Edition

by: Fred Cuellar

Amazon Price: $11.53 (as of 12/04/2008)

Diamonds--The Antoinette Matlins Buying Guide : How to Select, Buy, Care for Diamonds With Confidence and Knowledge

by: Antoinette L. Matlins

Amazon Price: $11.53 (as of 12/04/2008)

Bracelets and Anklets

Sterling Silver 1.00 cttw. Diamond Tennis Bracelet

Amazon Price: (as of 12/04/2008)

8" Black Dachsund Ankle Bracelet Sterling Silver Jewelry

Amazon Price: $11.29 (as of 12/04/2008)

Hematite Anklet 9.5 inch

Amazon Price: $11.99 (as of 12/04/2008)

Lace Ankle Socks Anklet Stocking with Ruffle Top

Amazon Price: $5.44 (as of 12/04/2008)

Necklaces

Peridot Christmas Necklace with Gold Clasp, for 18 inch Dolls like American Girl, Carpatina and Magic Attic

Amazon Price: $12.00 (as of 12/04/2008)

Murano Glass Leaf Pendant Hand Painted Genuine Glass Pendant w/ Black Chord Necklace

Amazon Price: (as of 12/04/2008)

Real Gold Plated Figaro Chain 6.4mm X 2.8mm - By The Foot

Amazon Price: $1.45 (as of 12/04/2008)

Contemporary Gold and Silver Necklace/BraceletSet

Amazon Price: (as of 12/04/2008)

Fresh Water Thee Strand Ivory Pearl Short Chain Necklace and Earrings for Women and Teens

Amazon Price: $61.99 (as of 12/04/2008)

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