£13,000 ring for £4,750? Too good to be true?

[charliesanchez]

Hi all, this is my first post as I'm a little concerned about the below story.

I bought an engagement ring yesterday and as I was collecting it from the store a strange thing happened.

I purchased a 2ct three stone (1/0.5/0.5) emerald cut ring on platinum from Diamonds Factory, which has good reviews and looks trustworthy.

I paid £4,750 (about $9000 I guess) for the ring, which is SI and F-G coloured.

Anyway, I went to collect it and asked them how much it would cost to improve the clarity. They went to ring's page on their shop page: http://www.diamondsfactory.co.uk/Products/ProductDetail.aspx?productid=57611

And my exact ring now costs £7,500! It's gone up by nearly £3000 in the space of a month.

Is this even possible?

They said how lucky I was to buy when I did, but this seems too good to be true?

It doesn't really bother me as I paid already but it's causing me an insurance headache.

Diamonds Factory claim the ring I bought at £4,750 was worth about £8000 retail but given the price rise, they've given me a new valuation for my ring of £13,000.

Does it seem possible that I've paid £4,750 for a ring worth £13,000? Seems implausibly lucky...

Has anyone experienced something like this? I've read that Blue Nile's valuations are always too high, does Diamonds Factory have a similar reputation? Should I get it revalued? I don't want to be paying over the odds for insuring a ring that's not worth £13,000.

Thanks for any help, feedback.
Charlie

 

[AprilBaby]

I'm going to guess its neither SI or F-G, nor is it well cut. You appraisal is greatly inflated. Why would they sell to you a ring of that value for what you paid? Yes, it's too good to be true.

 

[diamondseeker2006]

No, your ring is worth what you paid 99% of the time. Many or most jewelers give inflated valuations, I guess to make customers feel good about their purchase. I always insure for what I paid when I pay retail. But with those diamond weights and SI clarity, there's no way the ring is worth $20k+.

Are those diamonds graded by a reliable grading lab such as GIA?