Post # 1
Hi there –
I have a logistical question about upgrading an engagement ring. My husband and I both agree that we want to upgrade my 1.5 carat stone to a 2 carat stone. The question is: how do we do it?
My setting is a solitaire with pave diamonds on the band that my husband designed himself, so it has sentimental value and I don’t want to change the setting. It is a round stone with a 4 prong setting. The ring is platinum.
Do we go to the jeweler who made it (and from whom my husband bought the center stone) and exchange the 1.5 carat for a 2 carat stone (paying the difference in price, of course)? Or do we go to a different jeweler and have them do it? Full disclosure: My husband purchased it from an independent jeweler in SF and after doing some online sleuthing, I think we could get a much better price on a diamond from Blue Nile or a different vendor, so I am partial to the idea of shopping around.
When you “sell back” the 1.5 carat diamond, do you lose money on the transaction? Do you need to pay a “service fee” for the upgrading process? Will a 2 carat stone even fit in the original setting?
I would love input from anyone who has traded in a stone using the same setting.
Post # 3
@MrsSF: Go to the store/jeweler you bought the original diamond from and they usually will give you back what you originally paid for it if you spend twice that same amount for your upgrade. (Usually) But some jewelers have different policies
Post # 4
@JessMorgan777: Only if we spend twice? The new stone will probably be $10k more than the original stone, which is not twice the cost of the original stone.
Post # 5
@MrsSF: That was the policy when we upgraded (at the jewelers we went to). My DH originally spent $2500 on my e-ring to propose with…about a year later we went in and upgraded to a diamond that was worth 6,000 (It had to be worth at least 5,000). So we had to at least spend another $2500 (the difference) to get that original $2500 credit.
Post # 6
That is typical. Other stores offer a 65% buyback. However, both would require you to go to the original store.
Additionally, depending on the shape, the difference between a 1.5ct and a 2ct would require at minimum changing the head of the ring– if it is a custom piece that was cast for that stone, you won’t be able to just pop another one in there that is larger. You’d have to have the ring remade.
This is why upgrading either involves a new setting for the same diamond, or a completely new ring– but almost never is a larger diamond in the same settings, since most high quality settings are made for a particular stone.
Post # 7
@wntrwhte: Darn! This is good to know, but also makes me sad as I want to have both the original setting and the new stone. Guess I can’t have it both ways …
Post # 8
Like PP have said, you need to look into your store’s particular upgrade policy. It’s not as easy as giving the diamond back and paying the difference. What will they do with the “used” diamond? And you’ll likely need a new setting as well.
1.5 to 2 carats isn’t a MASSIVE difference… so for all this effort I would go even bigger if you can.
Post # 9
- Wedding: March 2014 - Glen Sanders Mansion
@MrsSF: it totally depends on the store individual policy. Some big chain jeweler require that you spend twice the amount of the original stone. The jeweler my ring was purchased at will give us the original purchase price as a credit, and we can upgrade to any size stone, even if it only costs an extra $100.
Post # 10
Don’t get discouraged just yet, MrsSF. Contact the store where your husband got the ring and find out about their upgrade policy and whether your current setting can accomodate a bigger stone. Be aware that if you try to upgrade the stone elsewhere, you will likely be credited for significantly less than the diamond cost in the first place, that’s just the nature of the business.
Post # 11
Definitely talk to our jeweler! He might have made the prongs long enough to handle it!
Post # 12
I am upgrading mine soon, too. Our jeweler buys back the diamond for what we paid for it and we can purchase any new diamond, even if it’s only a small amount more than the original (mine happens to be twice the price of the original so it just worked out that way). Also, they will take apart the setting and remake it to fit the larger stone- sometimes using new metal if they need it or melting down the original metal and recasting it. My jeweler will even buy back diamonds that were purchased elsewhere and put the cost towards something at their store- so definitely check before jumping over to an online site!
Post # 13
@BrandNewBride: Has very little to do with the length of the prongs.
for example, an ideal round brilliant that is 1.5cts is roughly 7.5mm and a 2ct is 8mm. That’s not that big a difference. However, a 1.5ct princess is roughly 6.5mm and 2ct is 8mm. So it depends on the shape, the cut, etc whether she can buy a bigger diamond and have it fit in the same setting. When the original stone was set the prongs would have been trimmed to set the stone, so it’s unlikely that the jeweler made the prongs long enough to accomodate a .5ct difference. Unless the prongs on the current ring are huge.
There’s a lot more to setting a stone securely than having prongs to attach it with. If it’s too far from the basket or too wide in the basket the stone will come loose all the time.
Post # 14
Definitely check with your jeweler. I heard a radio ad yesterday for The Shane Co. They have a $1 more than the original price policy… your jeweler might have something similar.
“Upgrade Promise – Only $1 More Upgrade any Shane Co. diamond, ruby or sapphire for only $1. You’ll receive the full value that you paid as credit toward the purchase of any other gemstone of greater value. It is just one more reason that Shane Co. is your choice for loose gemstones — keeping your future in mind.”
Post # 15
Every jeweler has their own policy on upgrades, but you will have to go back to wear you bought it. If you take it elsewhere, you will likely get 30% of what he initially paid.
And you may need a new head. It is not just the length of the prongs, but the angle of them. But your jewewler will be able to look at the setting and new diamond, once picked, and see what has to be done to make it work.