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Exchanging or upgrading an engagement ring?


miles267
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I was fortunate enough to stop myself from proposing to "wrong" partner however, as a result, I'm now left with an "unusable" 0.75 ct. diamond engagement ring. The reputable dealer at which I purchased thing ring indicated that I could "trade up" the diamond in future (no time limit) for the full purchase value vs. refunding my money.

 

As next step, I trust and am comfortable with this dealer and would like to take advantage of this offer and trade in this ring toward a new engagement ring.

 

Has anyone done this before? What impact does this have on the negotiation process? For instance, many people will tell you not to mention a "trade-in" until agreeing upon the price of a new car -- does this also hold true when purchasing a diamond ring?

 

Thanks in advance.

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Well, since you would be limited to that one jeweler if you want to exercise your "trade-up" option, then your alternative of going to another jeweler is less appealing.

 

Therefore, by definition, it will impact the negotiation/pricing process.

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  • 3 weeks later...

What are most common financing options when purchasing a diamond (interest rates, same as cash, etc.)? Am hoping to purchase a diamond next month and, although I intend to pay as much cash up front as possible, I'll inevitably need to finance the rest.

 

In preparation for my purchase, was wondering whether buyers most commonly finance through the retail at which the diamond is purchased or whether there are other, preferred options?

 

I will be traveling approx. 1,000 miles to make this purchase (to a trusted retailer) and would like to begin projecting financing costs now so that I know what I'm willing to spend.

 

Thanks in advance!

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I would make every attempt to separate the purchase from the financing. That way you can focus on one issue first, get the lowest rate you can, then focus on the other to get the right diamond at the right price.

 

Best way I know of to get cheap financing is to get one of those credit cards with a 0% introductory interest rate. Just make sure your trusted retailer does indeed take credit cards.

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Ben, thanks - I appreciate your advice. Ironically, while I was opting out of receiving future pre-approved credit card offers the other day, it crossed my mind. Seems like every other day I'm receiving one with a 0% APR for a year so I might just consider doing that.

 

Thanks!

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I had a really good experience similiar to that very same thing [purchased diamond that I wanted to return]. However, this online company Diamond.com gave me a 30-day return policy, with no restock fee! Although, I was squemish at first I realize now that it is an important thing when buying stuff on-line, especialy diamonds. That it's good to know all the worst case scenarios. Because this other time I bought something online [watchesonnet] actually a watch and this other company had a 15% restocking fee.

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I had a really good experience similiar to that very same thing [purchased diamond that I wanted to return]. However, this online company Diamond.com gave me a 30-day return policy, with no restock fee!

 

Note to all members: TonyB has been banned from this website for posting a testimonial while having an obvious affiliation to and likely being an agent/employee of Diamond.com (as evidenced by his signature, which is also not allowed per our forum rules).

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