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I Really Need Help With 5 Year Old Engagement Ring


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#1 needhelpmilwaukee

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Posted 14 February 2017 - 04:40 PM

 

Hi-

 

My husband (whom I dearly loved) proposed 5 years ago with a ring that I've never loved the stone of. Since the day we were married, the ring has primarily sat in a drawer and I've worn my wedding band. I'd like to have a ring that I like and start wearing it again. The stone is:

 

Round Brilliant, measurements 5.99-6.03x3.72 mm, Cut is AGC Ideal 0, Color is AGS 1.0 F, Clarity is AGS 5 SI1 and the carat weight is .823. He paid $12,615 in 2011 for the stone and it is a Hearts on Fire.

 

I would like to upgrade it to a larger size (and am willing to make a few sacrifices), but would still like a nice stone. I'd like to get as close to a 2.0 ct as possible with it still being eye clean and hitting as many high marks as possible.

 

I need suggestions as to what to do as I never had a good feeling with the jeweler he worked with in Chicago and from what I'm researching, the stone isn't worth nearly that now. That jeweler will give me a credit for the original amount, but knowing that it isn't worth that, won't they likely over-sell me the next diamond to make profit? Is it better for me to take a loss with a jeweler closer to me in Milwaukee (whom I'd rather work with long term). I like my setting, I just don't like my stone. 

 

Advice please. 

 

Thank you!



#2 denverappraiser

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Posted 14 February 2017 - 04:56 PM

Use the 'diamond finder' utility at the top of the page to find comparable stones to the one you have.  It should be pretty easy.  These are retail offers and a dealer offer to you will be something like 1/2 or 3/4 of what you're seeing advertised here.  (what he paid is irrelevant by the way).
 

HOF branding makes things easier to sell but it doesn't drive the resale prices up much. 

 

You can do the same thing on what you want to trade in for.  

Mostly the advertisers here are discount sort of sellers.  Local jewelers tend to be a bit higher but this will give you a feel for what it will cost to do the trade you're trying to do.  

There are going to be some costs related to the mounting as well.  At a minimum, you'll need to pull and reset the stone and retrofit the setting to accommodate the new stone.  It's possible you'll want a whole new ring.  That will add a few hundred to a few thousand to the deal depending on what you want.

Obviously you're going to be adding some money to this and the heart of the question is how much.  Mostly this should answer it although the real secret is in those tradeoffs you describe.  Every one of the attributes you listed affects the price, some in a fairly big way.  Play with the database a bit and you'll see how prices relate to grades but whether or not you would be happy with an H instead of an F (for example) is going to come from going to stores and looking at real diamonds. Going from a 0.82 to a 2.00 without changing some of those other things is going to involve quite a bit of money. 


Edited by denverappraiser, 14 February 2017 - 07:26 PM.

Neil Beaty
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#3 needhelpmilwaukee

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Posted 14 February 2017 - 05:31 PM

Thank you! We have a budget we'd like to go up to towards the upgrade. Wow-I played with the tool you suggested and it is showing about $3,000-$4,000 for the original stone. Ouch.

Edited by needhelpmilwaukee, 14 February 2017 - 05:34 PM.

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#4 denverappraiser

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Posted 14 February 2017 - 07:29 PM

Some vendors, and possibly HoF, have a formal trade-in program.  This is going to be a contractual relationship with the jeweler that was part of the original purchase.  Usually, you give them back the original stone, spend at least double, and they give you a credit for the full original cost (usually not including the mounting or labor) towards something else.  Yes, the new stone will be higher as well. I haven't a clue if HoF does this, and I don't even know who your dealer is, but I'm sure they would be happy to talk about this topic if they haven't already.  Now you've got the tools to analyze the deal and decide if you want to take it.


Edited by denverappraiser, 15 February 2017 - 05:26 AM.

Neil Beaty
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There's never a crowd when you go that extra mile.
Professional Appraisals in Denver

#5 Furqan Shafi

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Posted 15 February 2017 - 02:53 AM

If you can trade in that HoF for full credit, do it and then show the jeweller one of the diamonds on the diamond finder on this website with the price :D and tell them you want this can they get it for you? Chances are they can and won't be charging you an exorbitant price because you have already shown them what's the diamond worth elsewhere. 

 

Remember you stick to AGS 000 or GIA 3EX. Also read up on fluorescence on the internet before hand and it's effect on the diamond prices and whys and why nots. 

 

Good luck!! 


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