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Old 09-03-2014, 10:09 AM   #1
Hanni
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Default The Value of Canadian Diamonds?

I hope questions are okay.

I have one regarding the value of Canadian diamonds that I've never been able to get a consistent answer for from a jewellery store.

All numbers are just for example purposes.

-Engagement ring X cost $5000 to purchase
-The setting cost was $3000
-The diamond cost was $2000

The written appraisal from the jeweller states the ring is $5000.

However, the diamond is Canadian and comes with a certificate stating that it is worth $4000 all on its own.

What is the ring actually worth? To me it seems obvious that the ring is worth its retail price, $5000, not the $7000 you get if you add the setting and diamond certificate prices. What exactly is the purpose of the different value on the diamond certificate?
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Old 09-03-2014, 10:40 AM   #2
justing
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Questions are great, I'll do my best to answer them!

What you're referring to is usually found on EGL or similar quality certificates. Quite frankly, the value on the certificate is meaningless. It's essentially a way for the retailer to say look, it's valued at $4,000 on the certificate and I'm giving you a deal at $2,000. The true value of the diamond is $2,000 (for example) and that's what you should pay.
Unfortunately you see this a lot with chain stores as a way to give you a perceived deal or sale price.
It's really a shame this happens as I feel it cheapens Canadian diamonds as a whole.
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Old 09-03-2014, 11:30 AM   #3
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Quote:
Originally Posted by justing View Post
Questions are great, I'll do my best to answer them!

What you're referring to is usually found on EGL or similar quality certificates. Quite frankly, the value on the certificate is meaningless. It's essentially a way for the retailer to say look, it's valued at $4,000 on the certificate and I'm giving you a deal at $2,000. The true value of the diamond is $2,000 (for example) and that's what you should pay.
Unfortunately you see this a lot with chain stores as a way to give you a perceived deal or sale price.
It's really a shame this happens as I feel it cheapens Canadian diamonds as a whole.
Thanks for the great response. Luckily I wasn't duped in to any imaginary discount, it came up when I saw the certificate that came with the ring when I picked it up and got me curious.
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Old 09-03-2014, 02:31 PM   #4
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^ Good stuff.
Having an appraisal value on the cert itself is fine, just a little unethical to sell based on that number, IMO.
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Old 04-05-2016, 09:02 PM   #5
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Old 04-05-2016, 09:04 PM   #6
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https://www.youtube.com/watch?v=hGg0ATTRRGg

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