(Closed) Paid too much for E-ring?

posted 5 years ago in Rings
Post # 2
Member
2573 posts
Sugar bee

Not everyones ring is worth more ,  alot of insurance appraisals run high in general. So the insured value may not be actually what it is worth.

I wouldn’t assume you paid too much.

Post # 3
Member
3307 posts
Sugar bee
  • Wedding: November 1999

Appraisals for substantially more than the item cost are vanity appraisals. They are no measure of the item’s worth. You shouldn’t insure something for more than it costs to replace it. Just enjoy your ring!

Post # 4
Member
481 posts
Helper bee

twodresswedding:  Honestly, that does seem a bit steep. It’s already done so you might end up driving yourself crazy over something that you can’t do anything about. Sometimes it’s best not to know. Lol but if you’re still curious, just a couple questions – Was it made just for you or did you buy it that way? If you did have it made, did the jeweler tell you how much the center diamond was separately from the price of the setting (gold and smaller diamonds too)?

Post # 5
Member
244 posts
Helper bee

twodresswedding:  Everyone pays way too much for jewelry in general, and rarely does anyone get the money back that they paid on a ring 🙂 You probably did pay a bit too much for it as no one ever gets the appraisal value when selling a ring/stone. The only entity that will give you the appraisal value is an insurance company if you lose it.

Post # 6
Member
6294 posts
Bee Keeper
  • Wedding: August 2014

doberman:  they aren’t necessarily vanity appraisals. Mine is valued at, and insured for, more than we paid for it. We were lucky to pay what we did as most quotes were coming in around what it is appraised at. Having it insured for more gives us more options/less hassle (having to shop around a lot) if it was ever lost/stolen. That and my insurance company tends to pay out whatever it would cost to replace on the high street, which would be nearly double what we paid, and more than it’s appraised for. 

twodresswedding:  To me that does seem high; looking on Blue Nile you can get a stone with those specs for $550, and I’d expect to pay around $900 for the setting, depending on the weight of the metal. 

Post # 7
Member
528 posts
Busy bee
  • Wedding: July 2015

you are paying for the special design and local craft.  Its a lovely ring, hopefully you will be wearing it a long time. Dont worry about the value now and just enjoy it.  

Post # 8
Member
3682 posts
Sugar bee
  • Wedding: August 2013

Yes, I think you paid more than the ring is “worth,” but all that really matters in the end is how much it’s worth to you.

Post # 10
Member
2699 posts
Sugar bee
  • Wedding: March 2015

Center stone is worth about 500 dollars

Setting 500-700 dollars

Getting a piece of jewelry to cement your betrothal, priceless!

Basically, you overpaid…but so what, as long you love it ts all good!

Post # 11
Member
413 posts
Helper bee
  • Wedding: February 2014

If it has to do with weddings – you’re going to overpay.  But I wouldn’t worry about it.  If you did overpay I don’t suspect it’s by much.  Just enjoy your beautiful ring and relax.   Move forward.  We all get ripped off from time to time (not saying you did….it just happens)

My husband purchaed my ring from a private jeweler in Soho – I can only imagine the premium we paid on that….they have to pay that NYC rent somehow.   

Post # 12
Member
4260 posts
Honey bee
  • Wedding: February 2009

A hand made ring takes a lot more labour than one that is cast.  So I don’t think you overpaid.  As for the appraisal, most are inflated anyway, and then you end up paying for insurance that you will never get.  So I think it is better for it to be the true replacement value.

Post # 13
Member
10577 posts
Sugar Beekeeper
  • Wedding: December 2013

That price is quite high for the specs given. But since it’s a hand made ring and not mass produced so the price is understandable. The jeweler put alot of time in to making that ring so you have to consider labor costs.

Post # 14
Member
1181 posts
Bumble bee
  • Wedding: August 2013

Yes you paid a lot considering the size stones in your ring however I think you paid for the uniquness of your ring.  Since it’s handmade I doubt you’ll find many people with the same ring, which I love by the way.

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