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Caveat Emptor?

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girlfriend

Rough_Rock
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Aug 19, 2008
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Hello
I have a question about the purchase of my 3-stone, 4 tcw diamond ring. My husband bought it for me, 5 years ago, for my 40th bday. While it is a very beautiful ring and I very much appreciated my husband''s intentions, I asked him to return it. This he tried to do with a just a few days of my birthday.

The seller of the ring (a "reputable" dealer here in Cinti) refused, saying "I had no idea you might return this ring." Although, I noted, he was willing to take it back in exchange for an upgrade. Apparently his return option was not discussed at the time of purchase. Also, my husband bought the ring 6 months before my birthday. Yes, I know that is a long time, but the seller was quite aware of this time frame. And, apparently during the extended amount of time my husband spent selecting the diamonds and the setting, the retailer told my husband how much he would enjoy getting to know us both socially. My point here is that the retailer knew my husband well and knew exactly the time frame and situation of gifting the ring.

In addition, the ring was originally 2 sizes too big. Again, perhaps this was my husband''s fault, but you would think a reputable jeweler would insist on getting the sizing a little closer. Since I thought my only option was to keep the ring, I had it re-sized, but still it has never been very comfortable.

I tried to wear the ring maybe a dozen times in the past 5 years, but it just makes me so angry when I think how my husband was totally duped into spending 1000''s of dollars on an "investment." Again, it is an absolutely stunning ring, and I believe the price was reasonable, but it is not for me. It is like asking a mini-van mom to carpool 6 kids to school in a mercedes convertible; it just doesn''t work. So now it sits in my jewelry box doing nothing, while we pay even more for this ring in insurance.

Finally, the question:
Now that I have decided to try to sell the ring, I have read (on the internet, of course) that the original retailer, if reputable, should provide a full money-back guarantee if the ring is returned within 30 days. In our case, the retailer was aware that the ring was being purchased months in advance. Should he have made my husband aware that the 6-month advance purchase would void any option of return? Should a return/non-return contract have been provided at the time of purchase? And how has the ring been compromised by re-sizing it to almost 2 sizes smaller?

I feel like my husband was very much taken advantage of ... Am I correct? Do I (or did I ever) have any legal/ethical recourse or is just caveat emptor (buyer beware)??

Thanks.
 
GF....I feel for you...but I have some issues...

First of all, the vendor is not your babysitter but is a business man. You tell him the size, he makes the size. No vendor is going to demand that you make sure the size is right...100% husband's fault. Sorry.

Second, it really is your husband's responsibility to investigate the return policy. Again, the vendor is a business man and unless you ask, I feel he's under no obligation to tell and to ensure that the vendor's policy (if any) would be extended for him...In fact, it is pure common sense to ask. The vendor isn't going to just be like, ohhh, ok....it's for her birthday in 6 months...in that case, sure, bring it back then...You kinda make it sound like your husband was like a little child being ripped off...Do you really think that you needed to be made aware that a 30 day refund policy wouldn't be honored in 6 months? 100% husband's fault. Sorry.

I just can't wrap my brain around how you could feel duped...sorry....So no, your husband was not taken advantage of.
NOT to sound harsh. Sorry
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On the bright side!!!! :

Take it to be re-sized again...it's not an eternity band where sizing could be an issue....perhaps though the stones are too big on your finger if you have a small finger? In that case, make some studs and a solitaire imo which you can surely enjoy!
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I think I have to agree with Moremoremore. Sorry that you're unable to enjoy your ring, but I think your husband bears the responsibility for inquiring about the return policy at the time of purchase. Also, you say that the ring is "stunning" and that you believe your husband paid a reasonable price for it. How is this being duped? It sounds like it is your husband who misjudged what gift would make you happy on your 40th b-day. It also sounds like your husband spent quite a bit of time and thought choosing the setting and the stones and working with this jeweler. This doesn't sound like he purchased it as an "investment." It sounds like he thought it would be a wonderful gift for you. I don't think the fault here lies with the jeweler.
 
Sorry to hear this ring has left you disappointed.

moremoremore has a great idea there, the stones must be a nice size for a pair of studs and a solitaire. Maybe you could pick out a fantastic setting that you do love for one of the stones?

I hope you manage to find something that makes you feel better about the situation.

Jen
 
Girlfriend -
I do have to agree with other posters that your husband was NOT taken advantage and certainly not duped. He bought you a great ring far in advance - believing that you would love it. It was a gamble and, unfortunately, it did not work out. Resetting the stones is a good option. Unfortunately it is not really clear what you don''t like about the ring (?)
If there is a lesson to be learned, it is that (a) one should know about the return policy; (b) buy within that time frame if one is unsure about the ring/taset of one''s SO and/or (c) get the SO involved in the buying/choosing process to avoid this unfortunate situation in the first place.
 
The short answer is no.

I would like to address one statement you made that I think needs to be corrected;

"I have read (on the internet, of course) that the original retailer, if reputable, should provide a full money-back guarantee if the ring is returned within 30 days."

That isn''t entirely correct. First, there are many reputable jewelers who have return policies of 10 to 14 days. Secondly, and perhaps most important for you to understand, many of them do not accept returns on settings once a diamond is mounted. However this is all moot as your husband kept the ring for months before suggesting a return. It is not up to the jeweler to think for the customer. If you want to make sure your wife likes something within the return period, don''t hold onto it for half a year.
 
Date: 8/19/2008 1:35:19 PM
Author: Mrs Mitchell
Sorry to hear this ring has left you disappointed.


moremoremore has a great idea there, the stones must be a nice size for a pair of studs and a solitaire. Maybe you could pick out a fantastic setting that you do love for one of the stones?


I hope you manage to find something that makes you feel better about the situation.


Jen

or a pendant and a solitaire
That is what I was going to suggest.
 
Date: 8/19/2008 1:58:30 PM
Author: purrfectpear

I would like to address one statement you made that I think needs to be corrected;

''I have read (on the internet, of course) that the original retailer, if reputable, should provide a full money-back guarantee if the ring is returned within 30 days.''

That isn''t entirely correct. First, there are many reputable jewelers who have return policies of 10 to 14 days.
PPear is precisely right. There seems to be a common misconception that there is some ''standard'' return period in the industry of 30 days.

This is very much incorrect. There is no industry standard; each business is able to set its own return period. Many vendors I know of allow no refunds at all; they will only allow exchange/trade-up. Other vendors I know of offer only 7 days. We are in the mid-range with 10 days, and I know some others who offer 21 and 30 days.

From a vendor perspective, not all vendors are the same. Vendors who carry extensive dedicated inventory aren''t the same animal as drop-ship vendors, and neither of these are the same as local merchants. Different business models require different practices.

I feel badly for GF''s situation; being a ''months-in-advance'' shopper myself, I know that sometimes restricts my return options. I try to be mindful of that when I shop; things I think might be questionable I typically shop closer to ''due date'' to make sure I have a return window.
 
GF: Did your husband buy this ring off the showroom floor? (i.e. did not have it customized in any way). If so, then I actually think you are correct to be disappointed in the return policy because if they were trying to sell it as is, there is no reason why they couldn''t just put it back on the salesfloor so long as no damage was done.

Was this a chain jeweler? If so, it is completely out of the jewelers hands. And, if this policy is stated (which I assume it is), it is unfortunately a buyer beware situation.

That doesn''t mean, as many other PSers have suggested, that you shouldn''t reset the stones into something that you would wear. Or, you could even keep them as heirloom stones to pass on to your children, should you think they might ever be interested in them. Or sell it online to a young couple who might be otherwise unable to afford thier dream ring. Whatever it takes to turn this into as positive an experience as possible.
 
Date: 8/19/2008 2:57:52 PM
Author: katamari
GF: Did your husband buy this ring off the showroom floor? (i.e. did not have it customized in any way). If so, then I actually think you are correct to be disappointed in the return policy because if they were trying to sell it as is, there is no reason why they couldn''t just put it back on the salesfloor so long as no damage was done.

Was this a chain jeweler? If so, it is completely out of the jewelers hands. And, if this policy is stated (which I assume it is), it is unfortunately a buyer beware situation.

That doesn''t mean, as many other PSers have suggested, that you shouldn''t reset the stones into something that you would wear. Or, you could even keep them as heirloom stones to pass on to your children, should you think they might ever be interested in them. Or sell it online to a young couple who might be otherwise unable to afford thier dream ring. Whatever it takes to turn this into as positive an experience as possible.
"...apparently during the extended amount of time my husband spent selecting the diamonds and the setting..."

Sounds like it was not off the showroom floor.
 
Date: 8/19/2008 2:25:33 PM
Author: strmrdr
Date: 8/19/2008 1:35:19 PM

Author: Mrs Mitchell

Sorry to hear this ring has left you disappointed.



moremoremore has a great idea there, the stones must be a nice size for a pair of studs and a solitaire. Maybe you could pick out a fantastic setting that you do love for one of the stones?



I hope you manage to find something that makes you feel better about the situation.



Jen


or a pendant and a solitaire

That is what I was going to suggest.

Or studs and a pendant! Maybe you would feel more comfortable wearing the diamonds separately like that than all in the same ring. In particular, maybe a pendant would feel less opulent than a ring for you. I hope you feel better about the whole situation anyway, because it''s really not such a bad thing!
 
I'm sorry to hear of your predicament GF, but I have to agree with the others. I do not feel your husband was duped or taken advantage of at all. Unless the jeweler held him down and took the money from his wallet, he wasn't forced to purchase anything.
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And just to add, you had the ring resized. Most vendors will not offer a refund once a ring has been sized, typically that's when their exchange policy kicks in. I don't know if they have an exchange policy, or if its window has closed, but maybe you could inquire?

If a reset won't work for you, perhaps you should consider putting the ring on consignment with one of the PS vendors. I want to say Pearlman's does consignments, but don't quote me on that. Hopefully one of the others can point you in the right direction, should you decide to pursue that route.

Good luck!
 
I agree with everyone else...and some earrings and a pendant would be lovely!
 
Ok, everyone, I get the message loud and clear. Like I said, caveat emptor, right? Thanks for your input. I appreciate getting it straight. Of all the diamond-related websites I''ve searched, this is the best. It''s honest and very informative.

I don''t know if this is the right forum for my next question, but here it is: so what is the best way to re-sell this ring? (I mean to get the best price?) Since I only have the one apprasial from the original retailer, I have arranged to get a second appraisal from a GIA certified gemologist. Then what?

(Reminder: it''s a honker of a ring: 3 stones, the center is 2 cts, the sides 1 each)
 
Are you not satisfied with the diamonds? Because the 2ct center on another mount might be what you are after. And then you can sell the sidestones and the old mount.
 
I realize this is a site for lovers of diamonds, and I don''t mean to be offensive, but I have no desire to own diamonds. I don''t want the ring, and I don''t want to change it into earrings or a pendant. I just want to sell it. I don''t know why, as my marriage is fine. I read the forums on this site and it is wonderful to see so many people sharing their love and knowledge for diamonds. It would be my hope to find a buyer for my ring who could appreciate it as it should be appreciated.
 
Double post. See below!
 
Date: 8/19/2008 8:51:27 PM
Author: girlfriend
I realize this is a site for lovers of diamonds, and I don''t mean to be offensive, but I have no desire to own diamonds. I don''t want the ring, and I don''t want to change it into earrings or a pendant. I just want to sell it. I don''t know why, as my marriage is fine. I read the forums on this site and it is wonderful to see so many people sharing their love and knowledge for diamonds. It would be my hope to find a buyer for my ring who could appreciate it as it should be appreciated.

In that case, then I personally would look at a consignment place like Pearlman''s. They have a wide audience. Ebay and Craigslist are other options, but you will be lucky to get back 1/2 of what you paid...here is a helpful thread about resale and what to expect:


https://www.pricescope.com/community/threads/reselling-gems-jewelry-what-can-you-expect.17952/

You should also have it appraised by an INDEPENDENT appraiser, not simply a graduate gemologist. GG''s reliability/knowledge unfortunately can vary widely...
 
No offense taken on the diamond thing...diamonds are not for everyone! I didn''t for a minute think anything was wrong in the marriage. It was sweet of your husband to do! Good luck and Pearlmans sounds like a great idea!
 
Date: 8/19/2008 8:51:27 PM
Author: girlfriend
I realize this is a site for lovers of diamonds, and I don''t mean to be offensive, but I have no desire to own diamonds. I don''t want the ring, and I don''t want to change it into earrings or a pendant. I just want to sell it. I don''t know why, as my marriage is fine. I read the forums on this site and it is wonderful to see so many people sharing their love and knowledge for diamonds. It would be my hope to find a buyer for my ring who could appreciate it as it should be appreciated.

Haha in that case send it my way... :)

You are not offensive in the least - diamonds are not everyones cup of tea! - in our society I think we tend to bang it into men that diamonds are necessary to keep a woman happy. Kudos to your sweet husband for the lovely intentions! I believe there is a FAQ question thread let me see if I can find it for you. I totally ditto the Pearlman''s recommendation

http://www.pearlmansjewelers.com/

Just to give you an idea of the previously owned section he (Bill at Pearlman''s) has
http://www.pearlmansjewelers.com/jewelry-specials/previously-owned-jewelry/
 
It''s too bad that all your husband''s hard work went into something that you didn''t want! Oh well! Not sure if it is an issue but selling privately (and there are many links here on that) will likely not yield a 100% return on your husband''s "investment" -- just wanted to point that out. If you just want to get rid of the ring I am sure on craigslist or ebay or any of the other suggestions here will yield you a return, just not what your husband paid. (Assuming the jeweler doesn''t want to buy it back and has no upgrade policy.)

Good luck -- sorry it wasn''t what you wanted!!!
 
I''m happy I remembered correctly that Pearlman''s did consignments, I hate to misspeak. lol I think a consignment will most likely get you the most money for your ring as ebay and craigslist shoppers are generally out for the bargain basement deal.

I too did not take offense to you not wanting to own diamonds, even those of us who love diamonds don''t always want the same things. To me the story sounded like your husband tried his best to get you something he thought you would love, and you didn''t care for it. No harm there. I think it was very sweet of him to try and you seem to really appreciate the sentiment behind it.
9.gif


Hopefully everything works out satisfactorily.
 
Listen- you want to sell, you sell! It's your bees-wax...you might lose anice 10-15% at least in a consignment, but I would try to consign..can you ask the original store? Just make sure you get a written agreement regarding the deal...it's just too hard to use ebay, craigslist bc I'd be too afraid to get duped.....If you sell it outright to a jeweler, I think you'll lose a LOT of $ on it...So best of luck...
 
Date: 8/19/2008 12:38:26 PM
Author:girlfriend
Hello

I have a question about the purchase of my 3-stone, 4 tcw diamond ring. My husband bought it for me, 5 years ago, for my 40th bday. While it is a very beautiful ring and I very much appreciated my husband''s intentions, I asked him to return it. This he tried to do with a just a few days of my birthday.


The seller of the ring (a ''reputable'' dealer here in Cinti) refused, saying ''I had no idea you might return this ring.'' Although, I noted, he was willing to take it back in exchange for an upgrade. Apparently his return option was not discussed at the time of purchase.

Thanks.


Obviously at this point, 5 years later, you know that you won''t be able to return the ring or anything like that...so I think consignment is your best bet.
 
Date: 8/19/2008 7:35:42 PM
Author: girlfriend
Ok, everyone, I get the message loud and clear. Like I said, caveat emptor, right? Thanks for your input. I appreciate getting it straight. Of all the diamond-related websites I''ve searched, this is the best. It''s honest and very informative.

I don''t know if this is the right forum for my next question, but here it is: so what is the best way to re-sell this ring? (I mean to get the best price?) Since I only have the one apprasial from the original retailer, I have arranged to get a second appraisal from a GIA certified gemologist. Then what?

(Reminder: it''s a honker of a ring: 3 stones, the center is 2 cts, the sides 1 each)
GIA does not certify gemologists, it educates them and issues Graduate Gemologist degree. It seems like a minor point, but legally it is not. If you go to an appraiser that says he is GIA certified, RUN!

Wink
 
Good quality large stones--2+ carats--have gone up considerably in price over the past five years. If you know the specs on your center stone, you might want to look up comparable stones in the Pricescope list. You may be surprised to learn that you do not have much of a loss on the center stone and perhaps on the side stones as well.
I would certainly try Pearlman''s as others seem to be satisfied with them.
I would be extremely reluctant to put it on Ebay. As to Craig''s list, it is risky but you may be able to protect yourself by getting references and being very careful.
I have not sold jewelry but have had other listings on Craig''s list and been successful in finding good people. You have to be cautious. But I think the first move is to find out what the present retail value of the stones might be either by having the ring appraised or working with Pearlman''s. Good luck..
 
I would email GoodOldGold and ask if they are interested in selling your ring as an estate piece. I know they have one or two finished rings on there, and some are estate pieces. Depending on the quality of the diamonds, they might even be able to sell the diamonds separately.
 
Date: 8/19/2008 8:51:27 PM
Author: girlfriend
I realize this is a site for lovers of diamonds, and I don't mean to be offensive, but I have no desire to own diamonds. I don't want the ring, and I don't want to change it into earrings or a pendant. I just want to sell it. I don't know why, as my marriage is fine. I read the forums on this site and it is wonderful to see so many people sharing their love and knowledge for diamonds. It would be my hope to find a buyer for my ring who could appreciate it as it should be appreciated.
Girlfriend, you are absolutely not being offensive. We understand totally and you have been very respectful in your posts
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Although, I would probably give my left kidney for a ring like that, I understand that diamonds are just not everyone's cup of tea, and you don't need to justify your reasons. Each to their own.

I second the advice to contact Pearlmans or GOG to try and sell your ring, bearing in mind you won't be anywhere near what your husband paid for it, but much more than you would selling it via ebay etc.

Another option, if you find that you can't sell it, or are unhappy with the loss, can you keep in for safekeeping for children down the track? It would make a lovely gift to a child either a son (for his future fiance maybe) or a daughter? Totally up to you but! If you still can't think of anything to do with it, I have a little finger realestate on my right hand that I would be happy to lend you
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Good luck!! Maybe you could indulge us with a few pics in the mean time *drool*
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New to the forum but have to say this was a nice and informative post. I know the OP isn''t into diamonds like others in the forum, but it would sure be nice to have some pics of this ring.
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Seriously, good luck to you on reselling it. Please report back the outcome, I am interested to find out what happens.
 
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