i was told that my old engagement ring is worth only $75?

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#46
$75 is pretty low, but it is usually better to keep them and reset them into somethign else.

Diamonds and jewelry do not retain their value on the secondary market. They are not investments. They don't appreciate in value. Once you buy it, the value becomes basically sentimental. For lack of a better comparison, it's like a car. When you drive it off the lot, the value tanks, immediately. The appraisal is simply for insurance replacement purposes, not to say how much it's worth to anyone else, just to indicate what it would cost if you had to replace it at the time of the appraisal. The only time that usually varies is when you have something of special provenance, say it's something a royal owned. The ring Duchess Catherine wears? It really is nothing special in terms of quality and inherent value, she chose it out of a catalog. But because it was Diana's and is now hers? ASTRONOMICAL value simply due to the fact that it is theirs.

If you want to get technical, the actual "value" of diamonds is nothing, they're little pebbles. The retail value is totally controlled by the cartels. At retail, the "value" is set, after it's sold to you, that value is really debatable.
 
#47
The retail mark up for jewelry is ridiculously high. Unless the piece has a special provenance like Ame has said, it's a rare gemstone like a fine Alexandrite, or it's a highly collectable antique like Georgian or Art Deco, it's value is more sentimental than monetary. Jewelers don't give much for diamonds because the resale just isn't there. I would have the stone set into something else that would fit your style.
 
#48
BabyKuma said:
I have my engagement ring which originally was appraised at 1600 dollars. Its small, princess cut diamond, 0.25 carats, but quality is VS2 I think. anyways, I don't wear it much because it was never my taste, and just wear different ring on that finger.
I sold my gold necklace to local jeweler for a fair price, and also asked him how much my e ring would be worth if sold. He told me after looking at it-75 dollars!


I was totally shocked. He said its because diamonds don't appreciate same way as precious metals do. Unless you have very large diamond, its hardly worth to even buy it.


can anyone else confirm this? anyone had similar experience?
Click to expand...

Since you already started a thread on this topic, I have merged your latest one into it. You did receive a lot of replies if you could go back and have a look.
 
#51
The original appraisal your DH got was probably for insurance purposes. If that's the case, the appraisal can be double what the ring is worth. Also, as some others have mentioned, having a GIA or similar report is the gold standard for the quality of the diamond.

I got burned last year when I sold my 2.11 princess solitare that I had made into a pendant but never wore. I was told that princess diamonds aren't popular right now so they sell for less, plus although I had a certificate for the diamond, according to GIA standards the diamond color was much lower on the scale than I had originally thought. Lesson learned for me -- I will never have another diamond without a GIA certificate.
 
#52
ame said:
$75 is pretty low, but it is usually better to keep them and reset them into somethign else.

Diamonds and jewelry do not retain their value on the secondary market. They are not investments. They don't appreciate in value. Once you buy it, the value becomes basically sentimental. For lack of a better comparison, it's like a car. When you drive it off the lot, the value tanks, immediately. The appraisal is simply for insurance replacement purposes, not to say how much it's worth to anyone else, just to indicate what it would cost if you had to replace it at the time of the appraisal. The only time that usually varies is when you have something of special provenance, say it's something a royal owned. The ring Duchess Catherine wears? It really is nothing special in terms of quality and inherent value, she chose it out of a catalog. But because it was Diana's and is now hers? ASTRONOMICAL value simply due to the fact that it is theirs.

If you want to get technical, the actual "value" of diamonds is nothing, they're little pebbles. The retail value is totally controlled by the cartels. At retail, the "value" is set, after it's sold to you, that value is really debatable.
Click to expand...


Nicely put. Little pebbles.. [emoji15] but so true!
 
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