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Q&A: Adventures in the Diamond District

By Mike Fried,

What are your thoughts on this diamond? Should I consider a different diamond with a better cut? Does faint fluorescence concern you? Thanks much in advance for you opinion.

https://www.jamesallen.com/loose-diamonds/radiant-cut/2.02-carat-e-color-vs1-clarity-sku-132631?a_aid=dmnd1357

I’m sorry for the delay in responding. I took an impromptu trip back to NYC for a visit. Do you still need some help from us?

That’s great! We were born, raised and continue to live here. This week I will be purchasing a 2 ct. Radiant cut and wanted an unbiased opinion on the linked diamond. I know that a cert is helpful only to a point, but was wondering if a 70% depth and faint fluorescence should be avoided. I will attach two links… Again, your comments would be appreciated. Thanks.

https://www.jamesallen.com/loose-diamonds/radiant-cut/2.02-carat-e-color-vs1-clarity-sku-132631?a_aid=dmnd1357

The faint fluorescence doesn’t bother me. Since the diamond is more rectangular, 70 depth is absolutely fine (depth is factored by dividing the depth by the width; if the diamond is rectangular, the width will naturally be lower and cause a higher depth% number).

The F VS2 does not look eye-clean based on that cert.

Thanks much, Mike. I understand your point regarding the depth. I will being seeing the stones and a few others picked by the jeweler on Thursday morning. Super excited, but wanted your opinion as guidance.

No problem. Let me know how it goes. Don’t get carried away and buy on the spot. Take your time processing what they show you and make sure to write down the GIA report number and weight. I’d be happy to look them up and comment.

Awwww, thanks Mike. I would love your comments. I’ll write you Friday night.

I’ll be happy to respond. It may take me a few days (its my last weekend in NYC, then I’m flying back to Europe).

Oh, Mike, I couldn’t wait to get back to my iPad to write you. I spent most of Friday at the Diamond District and came upon my dream diamond (at least within my financial grasp), but wanted your input because I am over-extending myself just a bit. Your thoughts on GIA cert #2125861373. I definitely am hooked on an Old Mine cut and loved this diamond.

I need the carat weight as well.

2.8

Well if you like old miner cuts, it looks ok. Generally they are cut much deeper than typical rounds. Additionally, this diamond has a large culet which is unheard of in modern rounds, but not uncommon in old miners.

My biggest concern was the Good/Good on Polish and Symmetry. Would not be as concerned if I hadn’t heard a mouthful regarding the sale of my round 1.20 ct, D, VS-1, VG Polish, G Symmetry… Apparently, the Good on Symmetry wasn’t in my favor on the sale.

Thanks for your help, as always.

Firstly, it’s incredibly rare to have a good symmetry on a round diamond. That is something that dealers use to knock down the price when buying a diamond from a consumer. They will do that about anything. If you try selling a radiant, they will knock over the fact that radiants aren’t so popular (and they will give you a long speech about how hard it would be for them to sell it).

You should never be looking at your diamond as an investment (Ira has an incredibly popular article on Huffington Post about that). You should be looking to just get the best looking diamond for your money now.

Very true, Mike. Someone told me (a jeweler) that if the jeweler is selling this diamond for $32K, there is undoubtedly something wrong with it. We are trying to get together $30K and make a cash offer, but I am concerned that I am naive and it’s a bad decision. It’s so difficult to be on the buyer’s end because you truly don’t know who’s reputable. And we’re dealing with certified diamonds in the Diamond District so I don’t really know what else a “regular Joe” can do to be careful.

To be honest, I hate the diamond district with a passion. I had the opportunity to experience this week. My sister wanted some big studs. I first took her to the DD so she can try on sizes (once we knew what she wanted, I got them for her through my old company). I didn’t mention that I am a diamond expert.

What I saw disgusted me. The first person I saw was trying to sell earrings that were artificially treated (laser drilled) after they got the GIA certificate. The second guy was showing us ‘gia certified’ diamonds that looked off. I asked to see the certificate and it was an appraisal from a gia gemologist (i.e. a sham).

To be honest, I don’t know what to recommend to you. If you are looking for old-miners, you are forcing yourself to deal with the underbelly of the diamond business. No one cuts old-miners anymore, so everything you are looking at comes from estate purchases. That is a very shady aspect of the business and I wouldn’t know who to recommend.

Love your words of wisdom. We went to a recommended jeweler on 47th and 5th first on Friday and I thought he tried the hardest to screw us over (excuse my bluntness, but I don’t know a better way to phrase it). Well, I will tell you, Mike, that my interest in the diamond is dwindling quickly. So disappointing, especially when some of us struggle to even tell a white lie! Thanks for your truth. You’re a great man.

Every bad story we hear from readers starts with ‘a friend of a friend’ or a ‘respected jeweler.’

If you decide to go with a modern round brilliant, or any other modern shape, I’d be able to recommend trustworthy people (or help you pick from a reputable source online).

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