Budget and pricing: answers from a diamond dealer (page 4 of 4)

Obviously, I'm in the diamond business, so bear in mind that I have a bias here.

First of all, cost is a factor for EVERYONE. I've sold engagement rings for $2,000, and for $500,000, and every client I've ever had cared about the cost.

I really don't recommend moissanite, for a simple reason. It's an asterisk. Every time you our your wife tells people about her ring, the details will end with . As in "I love it, but it's not a diamond.*" There will always be an explanation that has to accompany the ring, and over time, that won't sit well with her, or with you. Perhaps you're thinking "my girlfriend isn't motivated by money, and she'll be proud of me for being frugal." And maybe that's true. But she'll be judged by friends, family, colleagues, etc., and so will you. Is that unfair? Yes. But it's the way of the world.

So, I would recommend staying within whatever budget makes you comfortable, but getting a natural diamond. Maybe it will be a bit smaller, maybe not perfect quality, but it will be free of *.

I hope this helps!

Hi there! I work in the diamond business (check out the AMA I did a few weeks ago at /r/jewelry if you're interested), and I actually answered this very question. Basically, there's no "right" amount to spend. Ask yourself this: how much would it make me UNCOMFORTABLE to spend? How much is too much? Subtract 10% from that number, and ask yourself again, is this too much? When you arrive at a number that doesn't make you break into a cold sweat, that's your budget.

I hear you. It's a real challenge. The thing to remember about Blue Nile is that they are NOT diamond dealers. They are a clearing house. They call dealers and ask them to list their inventory on their site. Some agree, and some don't. But the thing to ask yourself is, "why would a dealer sell this stone so cheap online?" The answer is because he can't sell it through traditional channels. He has to sell it cheap, sight unseen. Why? Maybe it's cloudy. Maybe it has an ugly inclusion. Maybe it's fluorescent to the point where it bothers the stone. Maybe a lot of things. But there will be SOMETHING...

I work in polished diamonds, so the "blood diamond" thing really doesn't affect me. Plus the industry has tightened the standards on that so much that it really isn't a factor any more. If I had to guess, I would say that conflict diamonds represent much less than 1% of stones coming into the market today.

However, there is certainly other shady stuff that goes on. Diamonds are expensive, and whenever there is a lot of money changing hands, people are going to try to skim a little! I've seen people misrepresenting stones, switching certificates, selling synthetics as natural, and any number of other swindles. It sucks when I see it after the fact and there's nothing I can do...