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Q&A: Online vs. Local in Miami. $8000 Budget. Radiant vs. Princess.

By Mike Fried,

I’m looking for a princess cut diamond around 1.25 ct (+- .25 ct) set into a channeled band with diamonds only going halfway down on either side. Have made my mind up on clarity, color, etc. My budget is 8000. I want a combination of quality and size. I live near Miami’s diamond district and was told to look there for a good deal. I plan to go to a Jared’s or local store first so I can just look at a variety of diamonds to get an idea of what to look for. Is all this a good idea or am I still more likely to get the best deal online? Anything to look out for? Your site was highly recommended by a friend. Thanks.

Hey XXXX. Go Canes! I spent the first 18 years of my life in Miami and bleed orange and green!

I also happen to have traveled to Miami many times as a professional in the diamond trade and so I know the scene there quite well. First of all, any store you walk into on the ground floor of the Sebold building is not wholesale. Don’t be fooled by what it says on the walls. Those are all retail stores. The real wholesale offices are all upstairs, and the real powerful wholesalers in Miami aren’t even in Seybold – they’re in the Dupont building a block over between 1st and Flagler.

I think it’s a good idea to go to Jared’s (just to look, of course – they’re prices are awful).

As far as prices online vs. the prices in Seybold, it really depends on your luck. Some guy might have a great deal on a specific item at the time that nobody online will be able to compete with. Also, one store in particular in Seybold has the best prices and quality and that’s Buchwalds. The reason is that he’s a very skilled buyer who always pays with a check on the spot (which is very much not the norm in the business. Usually dealers will get 90 days payment terms), so he demands the best prices possible. But even if he buys at the cheapest prices, he still has to mark up his stones enough to make his operation profitable. Rent in Seybold must be very expensive and he has a lot of employees. The stores online don’t own their own inventory, so they can slide by with much lower margins.

But even having said all that, if you buy locally, you have to pay sales tax which is what, 7% now? That’s a big difference that even skillful buying won’t be able to overcome. When you buy online, there’s no sales tax because the stores aren’t based in Florida.

Think about all this and let me know what you decide. If you decide to buy online, let me know, and I’ll help you pick out the best possible stone for your budget.

Have a great weekend!

 

Thanks so much Ira. Your advise was super helpful. You were right with that area of Miami being a but overwhelming. I think I learned a lot but I would still like to compare what I’ve seen to what you would suggest (you are the expert after all).

I have pasted a picture of a ring that is exactly what my girlfriend would like. It’s got a 1.3 carat diamond with 5 channel set diamonds on either side making the ring a total of 1.5.

Now I’m not looking for exactly that size but something close. I could afford that ring but my girlfriend has hinted that she doesn’t want something too expensive. Not sure what that means but she has said around $5000. I’d rather get her something as amazing as she is even if it cost me $10000. I’m only planning on ever buying one engagement ring after all.

Can you suggest a center diamond that you think is nice around 1 carat and then another diamond around 1.3 carat and then may be something around 1.5 so I can get an idea of what colors and clarity you as an expert would get.

Thanks so much. All your help has been super so far. You are a life saver. Me and hopefully my future wife will owe you. Thanks.

 

Hi. The stone in the picture looks like a radiant. Did you want a radiant like the picture, or did you want to stick with a princess cut?

 

Good Morning Ira,

Thanks for the quick reply. My girlfriend has always said she wanted a princess cut but the previously attached ring is one she has hinted at wanting. I think she thought that one was a princess cut with the prongs over the corners.

I would want the one that looks nicer for the value. I know from reading your website that cut is very important but still a but subjective for non-round cut diamonds. Which would you suggest from your experience?

 

Thanks so much for all the help so far. The examples you sent are awesome. I think the one that looks the best to me is the 1.3 carat diamond. However, I played around with the setting all while trying to stay within all the limits and guidelines that are on the Truth About Diamonds’ website. I found one other loose diamond that meets everything and is the same price as the 1.3 but it’s a 1.5 carat. The diamond is linked below:

https://www.jamesallen.com/diamonds/I-VS1-Ideal-Cut-Princess-Diamond-1276853.asp?a_aid=dmnd1357

I know that the color is a little different, it’s got a slight florescence, and a few other small differences. The one thing I don’t like is it appears the background used to take the image of the diamond in James Allen’s viewer seems to be darker. I’m not so sure it’s that bad of a diamond as bad as the photograph doesn’t do it justice.

Of course I want to get my girlfriend the biggest and the best, but I want the prettiest diamond as well. Please let me know your thoughts.

 

Hey. That’s a great stone. I wouldn’t worry about the photo, though. Each vendor that works with JA takes their own pictures, so I find that their pictures are very inconsistent since there are probably about 20 different people taking them.

…………

I just wanted to follow up with you. Did you manage to make a purchase yet? If so, did you go with this 1.5 carat stone in the end? If not, I’d love to hear what else you went with!

 

 

Click to Enlarge

Before I say anything else, thanks so much. Wouldn’t have been able to do it without you.

 

I ended up going with something closer to 1.3 because I think the 1.5 was going to be too big on her finger. I was mad at myself for not getting the 1.3 you had suggested but it had been sold by the time I was ready to purchase. I ended up finding one I was happy with that was 1.24 carats. I think it’s the right proportion to her hand. The specs are:

Click to Enlarge

Item # 1284514

Princess 1.24 carat H color VS1 clarity diamond

Price: $5,640

I got it set in a channel set band. I’ve attached some pictures. I haven’t asked her yet. The big day is this Thursday.

Again, thanks so much. I owe you a ton and she will too I hope. I’ve already recommended your site to a few people and hopefully they’ll contact you when they’re ready.

 

Hey! Great to hear the awesome news! And I took a look at that stone’s page, and it’s a real beauty!

I was wondering if you could do me a small favor. My site is still pretty new – I only launched about a year ago – and so I rely a lot on reader reviews to help me boost credibility. If you have the time, do you think you might be able to write me a short review on ivouch? If you can, I would be most grateful! Here’s a direct link if you have the time:

(LINK REMOVED – YOU CAN VIEW HIS IVOUCH REVIEW HERE)

Best Wishes, and good luck on Thursday!

 

Done. Thanks again.

 

Wow, I just read it. It’s amazing!! Thank you VERY much!

 

I have one final question but first I must tell you she said YES! The ring is slightly too big. Do you know of anywhere we can get it resized in the Ft. Lauderdale/Plantation area?

Thanks again. Couldn’t have done this without your help.

 

Congratulations!! JA will actually resize your ring for free for a full 60 days after the purchase. They’ll even ship it back to you for free (via 2-day Fedex).  It’s very routine.  Here’s the quote from their FA

“Nervous that you’ve ordered the incorrect ring size? That’s no problem, either. We offer free ring resizing from 60 days after your purchase. Even better, we’ll send the newly-resized ring back to you, for free, via two-day FedEx.”

James Allen James Allen is the leader in online diamond sales. Their imaging technology is the same as inspecting a diamond with a jeweler's loupe. They have the largest exclusive loose diamond inventory online and fantastic prices. They also have the nicest collection of lab-created diamonds online.
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What we love about them:
  • No questions asked returns within 30 days of shipment. Blue Nile will send you a paid shipping label to return the ring.
  • Lifetime Warranty
  • Free Shipping
  • Free prong tightening, repolishing, rhodium plating and cleaning every 6 months
  • Provide insurance appraisal
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