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pwecious_323 · Jul 6th, 2009, 08:28 PM

Hi ladies - I have questions about upgrades. I went to the place where my husband got our wedding ring. I would like to upgrade so I asked her about it. She said she would take back the diamond if I wanted to upgrade and would give me credit towards my new diamond I would purchase. However, I have few questions. With my original diamond, my husband paid around $11,000 for it, and now the diamond is worth $16,000. The store would only credit me $11,000 towards my new diamond. Does that even make sense? I'm losing around $5,000 for it. What should i do? Should I sale it to another store? If so, I don't think any of the stores I know would purchase it? Any1 ever experience this before?? Thx :)

frick&frack · Jul 6th, 2009, 08:57 PM

how long ago did you purchase the ring? how do you know it's worth $16,000 now? is that a retail price? you'll never get the full retail value for a "used" ring. I think it's fair that they give you credit for the exact amount that you paid for the ring. in fact, I think it's great!!!

my mom has utilized this same policy with the jeweler that she & my dad use most often. it has worked out very well. does your jeweler have in-house designers? just curious...that may be the reason why they're willing to credit you the amount that you originally paid (they will be able to reuse the stone & the gold).

IMO, fairly educated opinion, you would never get that much money for the ring anywhere else.

Swanky Mama Of Three · Jul 6th, 2009, 09:00 PM

AFAIK stores will always only credit you back what you paid for it or it's them losing the $ . . . they're not about to let that happen. Usually they'll only even agree to trade yours in if you spend double, so you'd need to spend $11k more.

pwecious_323 · Jul 6th, 2009, 09:06 PM

frick&frack: The diamond was purchased around 4 -5 yrs ago. Maybe I can negotiate the next upgrade for a better deal so I don't need to pay that much of a difference. Thx.

Christiflora · Jul 6th, 2009, 09:15 PM

Is keeping the original diamond an option? Can you reset the old diamond and wear it as a pendant or use it as a side stone (I have seen rings with 1-ct sidestones)? One major disadvantage with trade-in is that you are restricted to buying from the same jeweler.
I am in a similar situation. In my case, trading in for a credit equivalent to my original purchase price is no good, because I bought my old ring eons ago. The amount of appreciation over so many years make the trade-in unwise. Moreover, if your upgrade has significantly higher value than your old ring, you are better off shopping elsewhere getting exactly what you want, bigger and better loose diamond, ring (custom design per your fancy), sparkling sidestones/melees, and all.

frick&frack · Jul 6th, 2009, 09:34 PM

Originally Posted by pwecious_323

frick&frack: The diamond was purchased around 4 -5 yrs ago. Maybe I can negotiate the next upgrade for a better deal so I don't need to pay that much of a difference. Thx.

I would definitely give that a try. in this economy you have a much better shot at getting a bargain.

good luck!!!

HauteMama · Jul 6th, 2009, 09:37 PM

Originally Posted by Swanky Mama Of Three

AFAIK stores will always only credit you back what you paid for it or it's them losing the $ . . . they're not about to let that happen. Usually they'll only even agree to trade yours in if you spend double, so you'd need to spend $11k more.

I was going to say the same thing.

dearmissie · Jul 6th, 2009, 10:19 PM

Originally Posted by Swanky Mama Of Three

AFAIK stores will always only credit you back what you paid for it or it's them losing the $ . . . they're not about to let that happen. Usually they'll only even agree to trade yours in if you spend double, so you'd need to spend $11k more.

It's true about the whole spending double for your upgrade, many companies do that. I think it's great you're getting 100% of what you paid for back, that's really generous of them. With my ring, I only get 80% back, however when I want to upgrade I don't have to go double the price, it can be whatever difference I want. Which is what sold me because I doubt I'm going to buy anything DOUBLE the price, so I didn't mind losing 20%.

risingsun · Jul 7th, 2009, 12:55 AM

Most jewelry stores that do upgrades will only credit the orginal price of the stone. Not all stores demand that you spend twice the amount of the original purchase, but it's unlikely you will find someone whom will credit you with more than the original price. If you are spending a lot of money on a new diamond, you may have a some room for negotiation.

Jul 6th, 2009, 08:28 PM	#1
pwecious_323 OP Member Joined: Oct 2006 Posts: 998	Upgrade ring and resale value question Hi ladies - I have questions about upgrades. I went to the place where my husband got our wedding ring. I would like to upgrade so I asked her about it. She said she would take back the diamond if I wanted to upgrade and would give me credit towards my new diamond I would purchase. However, I have few questions. With my original diamond, my husband paid around $11,000 for it, and now the diamond is worth $16,000. The store would only credit me $11,000 towards my new diamond. Does that even make sense? I'm losing around $5,000 for it. What should i do? Should I sale it to another store? If so, I don't think any of the stores I know would purchase it? Any1 ever experience this before?? Thx :)
pwecious_323 OP Member Joined: Oct 2006 Posts: 998

Jul 6th, 2009, 08:57 PM	#2
frick&frack happy thanksgiving! $frick&frack's Avatar$ Joined: Jan 2009 Location: SoFla (Ft Lauderdale) Posts: 8,314	how long ago did you purchase the ring? how do you know it's worth $16,000 now? is that a retail price? you'll never get the full retail value for a "used" ring. I think it's fair that they give you credit for the exact amount that you paid for the ring. in fact, I think it's great!!! my mom has utilized this same policy with the jeweler that she & my dad use most often. it has worked out very well. does your jeweler have in-house designers? just curious...that may be the reason why they're willing to credit you the amount that you originally paid (they will be able to reuse the stone & the gold). IMO, fairly educated opinion, you would never get that much money for the ring anywhere else.
	__________________ "Tis the gift to be simple, Tis the gift to be free..." 1848 Shaker hymn (Joseph Brackett - Simple Gifts)
$frick&frack is online now$

Jul 6th, 2009, 09:00 PM	#3
Swanky Mama Of Three Joined: Jan 2006 Location: Dallas Area Posts: 42,752	AFAIK stores will always only credit you back what you paid for it or it's them losing the $ . . . they're not about to let that happen. Usually they'll only even agree to trade yours in if you spend double, so you'd need to spend $11k more.
	__________________ Tweet http://twitter.com/PBSwanky

Jul 6th, 2009, 09:06 PM	#4
pwecious_323 OP Member Joined: Oct 2006 Posts: 998	frick&frack: The diamond was purchased around 4 -5 yrs ago. Maybe I can negotiate the next upgrade for a better deal so I don't need to pay that much of a difference. Thx.
pwecious_323 OP Member Joined: Oct 2006 Posts: 998

Jul 6th, 2009, 09:15 PM	#5
Christiflora Member Joined: Oct 2006 Posts: 1,225	Is keeping the original diamond an option? Can you reset the old diamond and wear it as a pendant or use it as a side stone (I have seen rings with 1-ct sidestones)? One major disadvantage with trade-in is that you are restricted to buying from the same jeweler. I am in a similar situation. In my case, trading in for a credit equivalent to my original purchase price is no good, because I bought my old ring eons ago. The amount of appreciation over so many years make the trade-in unwise. Moreover, if your upgrade has significantly higher value than your old ring, you are better off shopping elsewhere getting exactly what you want, bigger and better loose diamond, ring (custom design per your fancy), sparkling sidestones/melees, and all.
Christiflora Member Joined: Oct 2006 Posts: 1,225

Jul 7th, 2009, 12:55 AM	#9
risingsun Member Joined: Apr 2007 Location: Virginia Posts: 1,658	Most jewelry stores that do upgrades will only credit the orginal price of the stone. Not all stores demand that you spend twice the amount of the original purchase, but it's unlikely you will find someone whom will credit you with more than the original price. If you are spending a lot of money on a new diamond, you may have a some room for negotiation.

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