Where to sell a diamond ring/get appraised without being taken advantage of??

[mom45]

When I got married the first time in 1988, my engagement/wedding ring set was $2,800. In 1994, I was offered $200 dollars for it as the top offer. I drove to several jewelry stores and pawn shops. I kept the ring. At some point years later, I asked a local jeweler what they would give me for it. The offer was the same. I chose to have the stones used in a necklace and earrings that I could pass on to my daughter at some point. Even after selling the jeweler the gold from the rings, I believe it cost me $400 to have the stones set in something I thought she might like later and that I could wear in the meantime.

Diamonds are not an investment. When the hubby and I got married, I picked the cheapest ring I saw in the case. He asked if I was sure that was what I wanted...it was. It isn't about the ring. I would have married him with or without it. He was pretty excited to walk out the door for under $400.

The first gun he bought me was not quite as cheap.

 

[Timjoebillybob]

Mark up is insane. I knew a friend of a friend that worked at one of the chain jewelers, almost anything in the store they could buy for 50% list. And the store was still making a decent profit. I think the few exceptions were a couple brands of watches.

If someone is looking for a diamond or just about any other gemstone ring, better to buy the stone from a pawn store or such and have it put in a setting you like.

 

[Ingomike]

Mark up is insane. I knew a friend of a friend that worked at one of the chain jewelers, almost anything in the store they could buy for 50% list. And the store was still making a decent profit. I think the few exceptions were a couple brands of watches.

If someone is looking for a diamond or just about any other gemstone ring, better to buy the stone from a pawn store or such and have it put in a setting you like.

For sure.

As for buying jewelry, try to find a reputable estate jeweler to buy from. Also look at Costco, their prices blow away retail stores and usually higher quality to boot…

 

[tmschuller]

For sure.

As for buying jewelry, try to find a reputable estate jeweler to buy from. Also look at Costco, their prices blow away retail stores and usually higher quality to boot…

Costco.. sounds familiar . Thanks

 

[rhamersley]

Costco.. sounds familiar . Thanks

Anybody here work for Costco???

 

[PGRChaplain]

Fairfields at the Clinton St/Lima Rd split in Ft Wayne. A couple friends have sold them Old Coins, Jewelry etc. Both were very satisfied with what they received. My Son had his wife's Engagement Ring made there after he purchased a Diamond.elsewhere.

 

[Brian Ski]

My favorite are the "chocolate diamonds". They're basically the same diamonds that they use on industrial saw blades.

+1 needed to get a fancy name for a dirty stone.

 

[Libertarian01]

Yep.

They found a **** ton of them on Russia and the Russians are all like "da! Now we wheel haf lotz of monies Conrad" and debeers showed up and was like "nope those are worthless too small bro, but we will tell you what, we will give you a some cash to buy all off then and the rights". Then they bought all the tiny worthless diamonds and made entire jewelry lines based on tiny diamonds.

It's a monopoly they control the supply, they generate demand and rake in the cash.

Fun fact: I bought a $650 engagement ring for $600.
A year land a half later after the divorce I sold it for $250 and bought the Smith and Wesson 15-22. After all is said and done I'm happier with the rifle over the wife.

So...

My question is, "Did you get more or less bang for your buck...?"

 

[KittySlayer]

Fairfields at the Clinton St/Lima Rd split in Ft Wayne. A couple friends have sold them Old Coins, Jewelry etc. Both were very satisfied with what they received. My Son had his wife's Engagement Ring made there after he purchased a Diamond.elsewhere.

^^^^This^^^^

Jim Fairfield is a college friend. Bought my wife’s ring there as well as some anniversary gifts. Have referred others there who have been happy. You’ll get a fair price. Good place to go if buying too.

 

[churchmouse]

When I got married the first time in 1988, my engagement/wedding ring set was $2,800. In 1994, I was offered $200 dollars for it as the top offer. I drove to several jewelry stores and pawn shops. I kept the ring. At some point years later, I asked a local jeweler what they would give me for it. The offer was the same. I chose to have the stones used in a necklace and earrings that I could pass on to my daughter at some point. Even after selling the jeweler the gold from the rings, I believe it cost me $400 to have the stones set in something I thought she might like later and that I could wear in the meantime.

Diamonds are not an investment. When the hubby and I got married, I picked the cheapest ring I saw in the case. He asked if I was sure that was what I wanted...it was. It isn't about the ring. I would have married him with or without it. He was pretty excited to walk out the door for under $400.

The first gun he bought me was not quite as cheap.

CKW and I opted for Florantein gold bands. She has acquired some pieces over the years but they are seriously worthless as to resale.

 

[Bugzilla]

If you make it to Indy, Master Jewelers. They are right off I69 and 86th On the NE side, Castleton, actually. Ask for Mike the owner.

 

[Bugzilla]

CKW and I opted for Florantein gold bands. She has acquired some pieces over the years but they are seriously worthless as to resale.

But they would insure it for $5600.

 

[churchmouse]

But they would insure it for $5600.

Of course they would. It’s the game.

 

[Ingomike]

But they would insure it for $5600.

Who would insure it?

 

[Bugzilla]

Who would insure it?

Guess I meant they (store selling it) would give you an appraisal for $5600. Then you get your insurance if you want it insured. It’s all a racket as the insurance on $5600 is more than $2800, but when you go to sell, you still get $200!

 

[Ingomike]

Guess I meant they (store selling it) would give you an appraisal for $5600. Then you get your insurance if you want it insured. It’s all a racket as the insurance on $5600 is more than $2800, but when you go to sell, you still get $200!

Most people get their jewelry insurance as a rider to their homeowners insurance. The link is a reputable jewelry insurance company folks can get online. A ring appraised at $5000 in NY costs under $100 per year to insure. Not sure where you got that insurance amount.

Personal Jewelry Insurance

www.jewelersmutual.com

 

[dobe77]

OP
i have done Bussiness with Eichorn Jewelers in Decatur Indina on 2nd for years you may want to check them out.
Unfortunely like everbody has Stated there is a big mark up on Jewlery.

Thanks @mike4sigs for the recommendation. I let my daughter know that she should check them out and they treated her right.

 

[coyotehunter12]

For appraisals, I have used Hoosier Jewelers in Whiteland on Whiteland Road west of 65. Had the wife’s rings looked at and both were over double what I had paid for them. Remember, good prices are through the roof right now.

I'm looking to redesign my ex-wife's wedding set. Getting back together and we are wanting to use the same set just make it a little different for our new beginning. We're you and your wife happy with Hoosier Jewelry?

 

[coyotehunter12]

I'm looking to redesign my ex-wife's wedding set. Getting back together and we are wanting to use the same set just make it a little different for our new beginning. Were you and your wife happy with Hoosier Jewelry? We went to Max's Jewelry in Columbus. The guy acted like he had better things to do. He kept pushing towards us buying a new set.

 

[DocIndy]

We were very happy. They found a couple loose settings that needed some attention and the repair cost was very reasonable.