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Buying an engagement ring

 
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Chet Wautlands



Joined: 11 Oct 2008

PostPosted: Mon Nov 19, 2012 6:27 pm    Post subject: Buying an engagement ring Reply with quote

Hello all.

Looking to buy a diamond engagement ring. I'd prefer to buy it in person if possible. I live in Cheonan.

I want to buy a 0.5c diamond but of good quality.

Any pointers? Directions? Ideas? Suggestions?

Thanks kindly
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mscoop1085



Joined: 12 Feb 2009

PostPosted: Mon Nov 19, 2012 7:00 pm    Post subject: Reply with quote

Bluenile.com
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mscoop1085



Joined: 12 Feb 2009

PostPosted: Mon Nov 19, 2012 7:00 pm    Post subject: Reply with quote

If you want the best bang (diamond) for your buck.
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mscoop1085



Joined: 12 Feb 2009

PostPosted: Mon Nov 19, 2012 7:04 pm    Post subject: Reply with quote

Sorry, I didn't see the part about buying it in person. Disregard my earlier posts.
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ttompatz



Joined: 05 Sep 2005
Location: Kwangju, South Korea

PostPosted: Mon Nov 19, 2012 7:10 pm    Post subject: Re: Buying an engagement ring Reply with quote

Chet Wautlands wrote:
Hello all.

Looking to buy a diamond engagement ring. I'd prefer to buy it in person if possible. I live in Cheonan.

I want to buy a 0.5c diamond but of good quality.

Any pointers? Directions? Ideas? Suggestions?

Thanks kindly


On a stone of that size the difference in price between Korea and Hong Kong will pay for a weekend get-a-way and still leave change left over.

Kowloon, (walking up from the star ferry) from Tsim Sha Tsui MTR toward Jordan MTR is the place to look.
4 "C"s (cut, clarity, color, carats). Know what you want. 0(.5-0.6 ct, vvs1, round-brilliant). You should be able to find a really nice ring in the 2.0-2.5 million won (14-15k hkd) range.
(cost you about 3-3.5 million won in Seoul due to import duties and excise taxes).

Slightly lower grade and in the 1 million won range, .5ct, brilliant white, vs1 or vs2.

Buy from a properly licensed shop (paperwork will be on the wall) and you have no worry.

Bring it back as personal property and no worry about customs duties (they expect you to take it with you when you eventually leave Korea).

Cathay has some decent 2-3 night packages (air/hotel/transfers) for 500k.

.
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Dodge7



Joined: 21 Oct 2011

PostPosted: Mon Nov 19, 2012 8:02 pm    Post subject: Reply with quote

OP I know quite a bit about diamonds because I researched the hell out of it when it came time for choosing one for both of my fiances.
The above poster is right about the 4 C's, but let me tell you, you will be shorting yourself if you go with a flawless diamond and even VVS1-2--VS1-2's.

You, or anyone else will not be able to spot any inclusions in an SI 1 or 2 diamond unless they stick their eyes right up to it, and even then they might not be able to see anything. Sure you can see it on a loupe, but who's going to do that?!
So go with an "eye clean" SI1 or SI2 that has an inclusion that can be covered up with a prong off to the side and save yourself a ton of cash.

SECOND, and again, you don't need the best of the best in color. You don't need a colorless diamond (D,E,F) and you don't need a G either (high-end "near-colorless" diamond). Go with a near colorless "H" or "I" (the one I got for my wife and looks as white as could be is an SI2, I color diamond and sparkles).

Now then, DO NOT and I repeat DO NOT sacrifice on CUT--the most important "C" of the 4 C's. You need to get an IDEAL cut diamond, with pavilion angles around 40.8-42 degrees and crown angles between 33.8 and 35.8 degrees (try for 34.5. degrees).

You stay within those parameters and you will have a diamond that outshines 99% of all other diamonds.

And as always, DO NOT buy the diamond if it does not come with a grading report usually done by AGS or GIA. You must get the grading report so you can check the numbers and parameters that I told you about that tell you the diamond's details.
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Dodge7



Joined: 21 Oct 2011

PostPosted: Mon Nov 19, 2012 8:19 pm    Post subject: Reply with quote

Oh and if you want to read anything else about getting the best diamond or learning about this stuff, go here:
http://www.goodoldgold.com/4Cs/
I bought two diamonds from this store in NYC and I learned everything from this guy and his site.
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mscoop1085



Joined: 12 Feb 2009

PostPosted: Tue Nov 20, 2012 12:52 am    Post subject: Reply with quote

Yeah, i agree. I bought a .82 carat diamond Excellent cut H color and VS2 clarity for 3600 US dollars on bluenile. The same diamond in Korea was valued at 6.8 million won. You could even go to I or SI 1 level if it is eye clean. I had two coworkers that are married go back home on vacation and they brought it back for me. Good luck man. Do some research on the 4 C's and depth/table ratios + flourescence and you will find a good deal.
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saram_



Joined: 13 May 2008

PostPosted: Tue Nov 20, 2012 5:17 am    Post subject: Reply with quote

Here's what I did..
I was looking around Jongno ( that's where so many jewellers are based in Seoul) and I came across a LLoyd gift shop which you can find in most places really.
They were running big discounts at the time so I had a look. (This February)

I was looking around in there and liked the look of a few ( well one ring especially)
It was discounted quite a bit .. Maybe 40% -- can't remember clearly!
The staff n manager there said they could get a real diamond cut into the ring as the material as it was -- was not real diamond. So after some haggling.. They agreed that if I paid 600k cash they would give the ring to a diamond cutter they knew and get it done properly.. We talked about the specifications and the size of the diamond. It was a bit of a risk!

After a few days I got the message to return to the store..
I was really impressed with the work that was done.
The diamond ring though only a 0.3ct looked perfect and really shiny!
It was the perfect result. The diamond was cut with better dimensions etc than we even agreed on..

The design of the ring in total makes the diamond itself appear much larger than its relatively small size and my fianc� and all of her friends/ family were really impressed with it too.
The total cost was about 1m Korean Won- and I'm sure this was a really good deal..
No need to go all the way to Hong Kong or somewhere..

From the Wooshin Gemological Institute in my receipt ...
Carat 0.3 ct
Color G
Clarity VVS1
Cut Excellent
Finish - polish excellent
Symmetry - excellent..

It has been a really good purchase and goes to show if u look in the right areas or get lucky u can get a good enough deal here in korea too..
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young_clinton



Joined: 09 Sep 2009

PostPosted: Tue Nov 20, 2012 5:53 am    Post subject: Reply with quote

I still haven't purchased my High School Class Ring. As soon as I get that out of the way I'll start saving for any other rings such as engagement or marriage rings.
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Chet Wautlands



Joined: 11 Oct 2008

PostPosted: Thu Nov 22, 2012 2:54 am    Post subject: Reply with quote

Thank you all for your input!

I've got a lot to think over.

Happy Thanksgiving!
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