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Which Is Better Value For Money


shorif2000
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I have a diamond ring bought from ernest Jones for £1500. I have been offered a trade in. There isnt much for the same price but I would like to get something half carat or more.

 

 

http://www.ernestjones.co.uk/webstore/d/1691031/neil+lane+14ct+white+gold+0.56ct+diamond+halo+ring/

 

http://www.ernestjones.co.uk/webstore/d/2240084/18ct+white+gold+0.50ct+diamond+double+halo+cluster+ring/

 

http://www.ernestjones.co.uk/webstore/d/1691317/neil+lane+14ct+white+gold+0.66ct+princess+cut+diamond+ring/

 

Any suggestions on what to look for

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Not sure I understand the question. You have a ring for which they have offered you £1500 and you are considering trading it in for one of those three? Or you have £1500 as a budget with which to purchase a ring?

 

In any case, what would you hope to get, other than "half carat or more"? BTW, be aware that a half carat princess cut is going to look significantly smaller than a half carat round - even though it's going to be significantly cheaper too.

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Not sure I understand the question. You have a ring for which they have offered you £1500 and you are considering trading it in for one of those three? Or you have £1500 as a budget with which to purchase a ring?

I have been offered to trade my old ring value of 1500 for something else. willing to pay little bit more for something a bot better.

 

 

In any case, what would you hope to get, other than "half carat or more"? BTW, be aware that a half carat princess cut is going to look significantly smaller than a half carat round - even though it's going to be significantly cheaper too.

 

good insight thanks.

 

 

 

what is difference with round and brilliant round?

 

 

 

Ernest Jones have the brand Leo, Neil and Torwosky. which would value more in cost over time?

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'Brilliant' in diamond lingo refers to the facet pattern on the pavilion or back of the stone.  With brilliant cuts there are a bunch of long facets that extend from the girdle and come together at the culet (that's the point at the back center).  Brilliant cuts can be round, square, heart shaped and just about anything else.  Other options include, for example, step cuts where the pavilion facets run parallel to the girdle.  The modern round brilliant cut is, by far, the most popular facet pattern but it's not the only choice for either round or brilliant. 

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'Value over time' is a tricky concept.  Ignoring the psychic component of predicting the future, it requires an understanding of the concept of value in the first place.   In the appraisal business we deal with this a lot and there are multiple different definitions that lead to completely different conclusions.  The most common in the jewelry business is estimated replacement cost, new, retail, locally.  In the case of branded items like you're describing, that's usually easy enough.  Neil Lane is charging whatever he is charging for design XYZ, and to replace it will require making a deal with him to make another one. If they raise their prices, 'value' goes up.  It's a bit of a circular argument but with things like that cost = value in a fairly direct way. 

 

It gets a little trickier if the replacement doesn't happen for a while and, say, Mr. Lane is deceased.  Or his shop has discontinued that model and refuses the job.  Or Earnest is out of business.  There's a list of options for what might make the straightforward replacement difficult.  Then we get into what they call 'like kind and quality'.  What will it cost to have someone ELSE make something that is substantially similar.  What will it cost and is it even possible to buy one on the secondary or used market?  Again we're back to that psychic problem but normally designer type goods can be replicated for cheaper by non-branded craftsmen.  Is that of 'like kind and quality'?  Maybe.  It's going to depend on both the designer and the replicator.  This is almost certainly NOT what you mean when you think of 'value', but it's the rule about 80% of the time and it's probably what your jeweler means when they use the term. 

 

There are other definitions, and most are even more obscure.  What will you be able to sell it for at some date in the future as a used and possibly out of fashion item?  Usually not all that much.  Resale values on jewelry are notoriously bad but there's also a giant component of how good you are at selling things.  Results vary dramatically.  That's not a slam against the jewelers, it's just the nature of the beast.  This is not a bank account.  Do not go into this expecting to ever see your money again, no matter which brand you choose. 

Edited by denverappraiser
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Quick comments - which Neil has explained more thoroughly above, so this is going to be the 20 seconds version:

 

"Paying a little bit more for a lot better" doesn't happen.

 

Round is the shape; brilliant is the faceting, with all the lower part (pavilion) facets converging to a point

 

Which brand will be valued more: none. Don't buy any jewellery with the expectation that it will increase in value.

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it doesn't exactly say what clarity or color it is

That's part of the problem (with that one, and with all the others, BTW).

 

The second part of the problem is that you haven't told us WHAT you'd like to improve by changing your ring with another one.

 

The third part of the problem is that you have told us next to nothing about your current ring, so recommending "changes" is impossible.

 

The fourth part of the problem is that as I said above, "a lot better for a little bit more" does not happen: you won't get something significantly different (or at least not "better" in any meaningful way) by trading in something at £1500 for something else priced at £1500 (or £1600) from the same dealer.

Edited by davidelevi
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I would like to get a bigger carrot diamond.

 

here is the link for what I currently have http://1drv.ms/16UbmNj

I got this 5 years ago.

 

 

Looking on their website. The following is closest match I found http://www.ernestjones.co.uk/webstore/d/6021662/leo+diamond+platinum+0.25ct+i-si2+solitaire+ring/which has a higher color rating?. Does this mean my ring has higher value?

 

Would I be better off repairing my ring and keeping it or trading it for solitaire or halo?

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Sorry, but I don't understand what's going on. You keep adding new bits of information all of the time. Now it turns out that your ring needs repairs?

For the benefit of anyone else reading this thread, as well as mine, I'll try to recap the situation and ask a lot of questions. It would really help us to help you if you disclosed EVERYTHING upfront, rather than drip-feeding information bit by bit.

This is what I understand so far about your ring:

0.28 carat Leo round (~4.3 mm) IGI graded G/SI2. No cut grade.
Set in a platinum solitaire ring.

So far, so good (or not, given the IGI report, but never mind that for the moment)

  • Does it need repair?
  • Or are you simply looking for something with a different look?

Someone (Ernest Jones?) has offered you £1500 for it in part exchange.

  • Is this correct?
  • Did they attach any conditions to the offer - such as "offer valid if you buy anything priced at least £3000"?

You want something looking larger, and are considering a variety of styles and stone shapes/cuts, but in the price range of about £1500-1600 (i.e. minimal spend over the trade-in offer).

 

If I summarised the situation correctly, then you are almost certainly better off remaining with your current ring.

 

Ernest Jones are not a charity, and if they are offering you £1500 for it, it is because they expect to make money out of the transaction. This means either:

 

1. They will be able to resell your ring for more than £1500

2. They will sell you something where they make money

 

or both at the same time. If you are planning to purchase something that normally retails for £1500, they are pricing it so that they make a profit out of it... and they are pricing the equivalent of your ring (new) at £2200 + (it's a G, so add another £100-200 to the price they ask for an I).

 

You may be able to get something that looks larger and/or more decorated at the price, but you won't get something that is as good a quality.

  • Is your only purpose to get something larger?
  • Or do sparkle, colour and absence of big, visible inclusions also play a part?

If it's only about "larger", then perhaps you'll succeed, but it's unlikely to look as good as what you have. And frankly, if it's only about larger, then look at stones other than diamonds, including CZ. They look good, and are very cheap.

Edited by davidelevi
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Basically I gave it to them for a polish and they apparently rubbed off the inside engraving that says. "LEO".

 

They offerred me if I wanted to a trade in of the same value I purchased from them which was 1500. I can add on top if I want. Or they can repair it.

 

 

I had 5 year insurance and it comes to an end in 5 months.

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Replacing the engraving is easy enough and surely they're prepared to do that.  The problem here is understanding what you want.  You bought a ring from a comparatively expensive place.  It sounds like you've been happy enough with it but now would like something different.   If you buy a double price ring on a trade in, it' still going to be a ring from a comparatively expensive place.  That's not all bad, it sounds like they are trying to be supportive and you've been happy for years, but in the end you didn't get a bargain the first time, and you won't be getting a bargain the next.  Are you likely to end up with something you like better?  Maybe.  What would you like better?

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  • 4 weeks later...

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