I was in the market for a very specific kind of diamond about a year ago. I learned a great deal about quality (hearts and arrows), AGS ratings vs. GIA, etc. There are a few really good sites out there that not only sell high quality diamonds, but also have fantastic prices. Whiteflash.com and GoodOldGold.com are the first two that come to mind.
If you educate yourself first at a place like Pricescope.com (a diamond forum site), you'll learn how to read a Sarin chart, interpret ASET and Idealscope images, and know which "flaws" are least visible. You can save quite a bit of money this way.
I was ready to buy my diamond from Whiteflash, but ended up responding to an ad on Craigslist for a Scott Kay set that was unbelievable. We met at an appraiser's office, and I walked away with a phenomenal deal!! I would have NEVER done that had I not been VERY comfortable with my own eyes and my ability to read charts and measurements. I learned how to select a diamond that since it's more reflective of light, shines like fire and flashes all over the place. It's 1.12 ct, but you would never guess it's smaller than 1.5 ct due to it's fire.
It's all in how much legwork and education you put into it, I guess is what I'm trying to say.
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