EGL Certified Diamonds – Price Too Good To Be True?
Q:
Hello Liz,
I am so glad I found your site! My head is really spinning with all the different numbers and various aspects to consider.
My local jeweler brought in a 2.02 carat F SI1 (eye clean..I’ve seen it in person) that he says is hearts and arrows. Now, the lab used was EGL. That worries me. It does look nice in person but I’ve never seen a super ideal cut before. He only wants about $15,500 for it.
Obviously, I can’t come close to that online. I’m thinking it’s so cheap because of the EGL grading? Or? It just seems too good to be true. I am really after a super ideal cut with lots of sparkle. Color matters somewhat. Clarity doesn’t matter as long as it is eye clean.
I am really after a 1.75ct (would prefer above 2). I’m looking to spend about $15000-$20000.
Help! Thank you so much!
James
A:
Hey James,
Absolutely do not buy that diamond! EGL has long been known to pad their grading to make a diamond appear better than it is. They have been banned from participating in RapNet and EGL International has shut down as they are forced to reorganize. Their grading isn’t accurate and has long been used to manipulate consumers into purchasing a diamond that is worth much much less than they are being asked to pay for. You may think that your 2.02ct F SI1 for $15K is a great deal, but I can assure you that that diamond is worth far far less. I would also think about the integrity and experience level of your local jeweler if they are trying to sell you this diamond.
Remember, when buying diamonds online, transparency and honesty in selling is the top priority. As the industry continues to change, retailers are forced to change and innovate too. Soon all diamond websites will be completely transparent and provide loads of diamond images, videos and information about all the diamonds in their virtual inventory. It is just a matter of time. This is part of the reason why I decided to build ODBA’s diamond search tool. Consumers should be able to search through a database of diamonds quickly and easily with minimum stress and guesswork.
Anyway, if color and clarity are lesser priorities than carat weight, and you are looking for a super-ideal H&A diamond, then I recommend either of these two eye-clean diamonds from BGD:
I hope this brings some clarity around your EGL certified diamond issue!
Kind Regards,
Liz
Q:
Thanks Liz, much appreciated.
James
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