(Closed) SO upset over diamond markup

posted 6 years ago in Rings
Post # 3
Member
5668 posts
Bee Keeper

Sounds like you didn’t get a decent deal. Most diamonds appraise for MORE than the retail price, not significantly less. I’d be on the phone with that jeweler stat, it sounds like your Fiance paid more than he should have.

Post # 4
Member
746 posts
Busy bee
  • Wedding: September 2014

Listen, I’d ask the retired guy to give you an appraisal as well.  Most jewelers can do it for you, and explain that you need to insure the stone for more than what you paid for coverage for the future.  NEVER settle for one appraisal, GAL and EGL have appraisal cards they make with estimated values as well, and GAL is like $20 for it if ur in NYC or u call them to see if you can do return shipping.  Dont stress yet

Post # 5
Member
4714 posts
Honey bee
  • Wedding: January 1998

@Aure:  +1

Post # 6
Member
2725 posts
Sugar bee
  • Wedding: November 2011

OP, @Aure:  is right. 

Post # 7
Member
3625 posts
Sugar bee
  • Wedding: June 2012

I would get at least one more appraiser’s opinion too and then confront the jeweler if both appraisers come in under the retail price. Everything we’ve ever bought that has diamonds has always appraised quite a bit over retail, even a simple eternity wedding band.

Post # 9
Member
1318 posts
Bumble bee
  • Wedding: October 2012

@shinythingsrule:  In my experience, diamonds should appraise for almost twice what you paid… My $3,000 set has been apprased twice at $6,000. We were given an antique man’s ring (with a perfect in every way 1 ct diamond) that has appraised at $25,000 and will sell for around $12,000. (btw, we were all shocked at the value of the diamond, we all thought it was just a play ring! It makes you want to get everything appraised just in case!!)

I would definitely get your ring appraised again by another jeweler and then approach the retired guy… Hopefully you just got a less than stellar apprassial at this place… 

Post # 10
Member
967 posts
Busy bee
  • Wedding: July 2013

@WhiteWedding:  +1

my ring was appraised for almost twice what my Fiance paid for it….I think your Fiance should call the jewelry guy and find out what’s up….

Post # 13
Member
3618 posts
Sugar bee
  • Wedding: November 2011

It doesn’t sound like you got a great deal, but it also doesn’t sound like you over paid. I would just take that and stop worrying about the rest. The only thing that should matter is that you and your Fiance love the ring you picked together and not what the appraised value vs. paid value is. 

Post # 14
Member
175 posts
Blushing bee

Do you know the specs of the diamond, so we can see if you got a decent price?

Post # 15
Member
4951 posts
Honey bee
  • Wedding: July 2012

In the end, a diamond is only worth what someone is willing to pay for it.
If you are happy with the ring, that’s all that matters. 🙂 Let’s see it!

Post # 16
Member
1318 posts
Bumble bee
  • Wedding: October 2012

@shinythingsrule:  That’s what it would normally retail for, like if you were to buy it from a jewelry store. To a private seller, it’ll probably be closer to 9-10,000. 

There are different appraisals, just like for a car. Selling to a private seller would be a different price than selling to a car dealership and what it retails for is different. The default on diamond appraisals is usually insurance/replacement value and you would have to ask for a “trade in” value. When you get the certificates, ask the appraisor what kind of appraisal it is if it doesn’t already say it on the sheet (which it should). Good luck with everything!!

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