Act Quickly on Your Loose Diamond Purchase or Lose Out
Posted on July 11 2014
When you find that ‘perfect’ diamond, don’t think about it! Go for it! A few weeks ago I was assisting a customer with a loose diamond search for a GIA certified radiant cut diamond. The customer was seeking a 2.50ct plus radiant cut diamond, I or J color and any clarity as long as the diamond was eye clean. The other fairly specific request was a length to width ratio around 1.2. With radiant cut diamonds, the ratio can vary from very square to very rectangular. For me, a 1.2 length to width ratio is just perfect.
I began my diamond search and decided to open up my search to more than just diamonds located within the United States. Every time I run a diamond search, I enter my parameters and then sort the diamonds from cheapest to most expensive. I always start with the cheapest one and work my way down through the list. I carefully compare carat weight, color, clarity, mm size (very important, perhaps even more so than carat weight) and price. Well, upon running my search, I found the winner! It was a 2.61ct J VS2 GIA certified radiant cut diamond that measured 8.81 x 7.15 (l:w ratio of 1.23). The price on this diamond was $15,604.40. When I presented this option to my client, she was over the moon! It had the color, size, price, GIA certification…. Everything she was looking for! I knew this diamond wouldn’t last being out on the market for very long. I put the diamond on a 24 hour hold as my client wanted to think about it. She decided she would think about it and let it ride over the 4th of July holiday weekend (even though the 24 hour hold was going to expire). Well, upon opening our office on July 7th, I followed up on this diamond and it had SOLD! I knew based on this diamonds characteristics and price that it would be snatched up quickly… and it was.
I have begun a new loose diamond search but I am certain that this client will compare all of our new options to this diamond that is no longer. It was priced to sell for what it was and I knew it was almost too good to be true!