18KT. synthetic spinel FAIR PRICE?

[dhop]

Looking to purchase a ring for $300.00 from someone who has an appraisal value of $984.00
The appraisal reads as follows:

18 KT. gold ladies ring containing:
One Synthetic Spinel
Colour of the Stone Greenish Blue
Size of the Stone 14.54 X 11.08 X 8.53
Weight of ring 5.2 grams
Total retail replacement value $984.00

by a F.G.A.,D Gem G appraiser.

 

[SB621]

Appraisal value doesn't mean anything. I could have read $1 or $1 million.

Color and treamtent (among other things) drive the price of colored stones. While this is a large one it is Synthetic (which I'm pretty sure we don't discuss on PS or is that just diamonds....?). Anyhow the stone is not worth much. Pending on the setting it might be worth around $300. Does it have diamonds?

Do you like the ring? if you like it or love it I think the price is alright. Definitely not a fantastic deal, but not overpriced either. Really depends on do you like the ring to pay $300 for it.

 

[denverappraiser]

Synthetic spinel is not very expensive and is available in pretty much any color you want. Gold is a world commodity and pricing it is pretty straightforward, but the labor to make a ring out of it can vary tremendously, as can the costs of selling it to you. Whether or not it’s worth it to you depends mostly on whether you like the design work and what you see as your alternatives. With a lot of designs, $300 worth of labor isn’t all that much, especially if we’re talking about workers in places like the US or the UK and it’s likely that what your appraiser is estimating is the cost to custom manufacture a replacement for the piece using local labor. They may very well be correct, and it may even be relevant to you, but it’s NOT evidence of a bargain.

So is it a fair price? Maybe. Probably even. Do you love it?

 

[dhop]

I'm very grateful for you reply, thank you.
I love this ring, it's 50 years old (apparently,) and I think that's pretty cool.
No diamonds.

 

[denverappraiser]

Age is not, of itself, much of a value characteristic but the fact that you think it’s cool most definitely is. Talk to your jeweler about any wear and tear issues that may be preset and that might affect the durability of the piece since quite a lot can happen in 50 years but basically it sounds like a winner.