Macy's "fine jewelry"
Macy's recently had a sale on a pair of diamond stud earrings with an IGI evaluation report:
"18k white gold, 2 natural diamonds, 11/4 carat, H-I, I1"
The studs were originally $6100 on sale for 2100.
My questions are:
What is IGI?
Why is there no value given on the report, and What would the value be?
What is grade bumped mean?
Can you really purchase quality certified diamonds from Macy?
Hi Rae,
Q1. IGI stands for International Gemological Institute. It's a laboratory that grades diamonds for a fee.
Q2. Most labs reports states the following: "This is NOT a guarantee, valuation, or appraisal...". Ironically, these are the three things a consumer needs when buying a diamond. Since it's not an appraisal, you won't see a value.
Q3. The information provided is not enough for me to evaluate value precisely.
Q4. Grade-bumped means that the lab increase the grades of the diamonds better than what they really are. For example, K gets bumped to H and I3 to I1.
Q5. Keep in mind that the word "certify" is a huge misnomer in the industry. Certify means guarantee. Since none of the labs GUARANTEE anything, the reports they provide are not certificates. Back to your question, Macy's jewelry counters are not actually owned by Macy's, and they're not known to sell good quality (ones that hold their value and/or appreciate in time) diamonds.
Have a great day!
