What to ask before you get a ring quote

Short answer: before you accept any engagement ring quote, get these seven things in writing: the grading lab and report number, the exact grades, an itemized price, the warranty terms, the return and resize policy, an appraisal for insurance, and the metal purity. Without them, two quotes can't be compared and you can't tell if a price is fair.

These are the questions I use as a GIA Graduate Gemologist when I review quotes for buyers. Bring them to every jeweler you visit.

1. Is the diamond graded by GIA, IGI, or in-house?

Ask for the lab name and the report number, then look the report up yourself. For natural diamonds, GIA is the benchmark. IGI is the most common lab for lab-grown diamonds. An "in-house" or store certificate is written by the seller, so it doesn't let you compare the stone with anything else on the market.

2. What are the exact grades?

You want carat weight, cut grade, color, clarity, fluorescence and measurements, all copied from the report. Vague descriptions like "near colorless" or "eye-clean" are not grades. If two quotes list different grades, they are not quoting the same product, even if the rings look alike in the store.

3. Can you itemize the price?

Ask for three lines: center stone, setting (metal, side stones, labor) and extras (sizing, engraving, appraisal, taxes). A single bundled number can hide an overpriced setting or an average stone priced as a great one. Itemizing is a normal request, and the answer tells you a lot about the jeweler.

4. What does the warranty cover, and what voids it?

Common gaps: lost side stones not covered, prongs only covered with periodic inspections at the same store, or coverage that ends after a short period. Get the terms in writing.

5. What is the return and resize policy?

Ask how many days you have to return the ring, whether custom pieces can be returned at all, and how many free resizes are included. Proposals don't always go as planned, and sizes are often guessed.

6. Does it include an appraisal for insurance?

An appraisal is different from a grading report. The grading report describes the stone. The appraisal states a replacement value for insurance. Ask whether it's included and who writes it.

7. Is the metal purity stamped and verifiable?

The ring should be stamped with its purity (for example, 14k, 18k or a platinum mark), and the quote should state the same. If you're paying for platinum or 18k gold, make sure that's what's written.

How to use the answers

Put the answers from each jeweler side by side. Once the reports, grades and itemized prices are in one table, the better buy usually becomes obvious. When it doesn't, or the numbers don't add up, that's a good moment for an independent review.

With Ring Verdict, you send me your quotes and I compare them line by line. You get a clear answer, which quote to choose and why, in a PDF within 24 hours. I take no commissions from jewelers.

Felipe Araneda is a GIA Graduate Gemologist (Carlsbad, California) and the founder of Ring Decision. Verify the credential.