Have a diamond, but want to upgrade for a eRing, need advice

[camaroz06]

Hello All,
I have been given my grandmother's engagement ring, it is a smaller diamond then what I know my girlfriend is looking for. My family gave it to me to do what I wish with it. I have decided I would like to get it appraised and sell it to put towards what I know she would really want. For her, the size of the diamond is pretty important. She wants something that is towards the 2 carat size. I believe the diamond I have is a bit over 1 carat and I am told it is of very good color, cut, clarity by family members. Now what is the best practice to do what I want to do? Get it appraised by an independent appraiser? How would I go about selling it? Would i just be to a jewelery store? Can anyone recommend an appraiser and where to sell to me? Any info is greatly appreciated! If it helps I live in the Boston area.

Thanks,
Eddie

 

[HornAround]

Wow, I don't know if I could sell off a family heirloom. Good luck.

 

[chrono]

Diamonds have a very poor resale value. If you are very fortunate, you might get around 40% of its appraised value. What I would do is to purchase your GF a diamond of her dreams in a setting that she loves, while keeping the heirloom ring as an anniversary present. I would not sell a piece of jewellery that has been specifically handed down to me.

 

[jet2ks]

Date: 5/4/2009 12:48:27 PM
Author: Chrono
Diamonds have a very poor resale value. If you are very fortunate, you might get around 40% of its appraised value. What I would do is to purchase your GF a diamond of her dreams in a setting that she loves, while keeping the heirloom ring as an anniversary present. I would not sell a piece of jewellery that has been specifically handed down to me.

Agree. You did say that it was to do as you wish with the ring, but there will probably be someone in the family that would be hurt if you decided to sell it. Another option would be to have the diamond from g-ma's ring mounted in another piece of jewelry, such as a pendant, so that you would still have her stone for sentimental reasons, and also have something your gf might like to wear. It would make a great anniversary present, as well.

 

[D&T]

ooh please don''t sell, what''s her taste? does she like halos? this size of diamond would look massive in a halo.. IMHO, when I am ready to pass my diamond, I sure hope my kids, grandkids don''t think that the diamond is too small and want to sell it

and I agree with the others, someone in your family would probably be hurt.

 

[D&T]

Date: 5/4/2009 12:53:14 PM
Author: jet2ks

Date: 5/4/2009 12:48:27 PM
Author: Chrono
Diamonds have a very poor resale value. If you are very fortunate, you might get around 40% of its appraised value. What I would do is to purchase your GF a diamond of her dreams in a setting that she loves, while keeping the heirloom ring as an anniversary present. I would not sell a piece of jewellery that has been specifically handed down to me.

Agree. You did say that it was to do as you wish with the ring, but there will probably be someone in the family that would be hurt if you decided to sell it. Another option would be to have the diamond from g-ma''s ring mounted in another piece of jewelry, such as a pendant, so that you would still have her stone for sentimental reasons, and also have something your gf might like to wear. It would make a great anniversary present, as well.

Fabulous Idea--- with the pendant option.

 

[Daisi2112]

Maybe don''t sell it....it might cause some issues.

Some options are (I apologize if I am repeating any) - Have it reset has a solitaire pendant and give it to her as a present....(i.e. christmas, anniversary, etc), or put a delicate diamond halo around it and it will look much bigger than a 1ct diamond (I personally think halos are gorgeous, they make me drool

), or maybe have a custom built 3 stone engagement ring and your heirloom diamond could be included in it, whether it be the center stone or a side stone!

Just some suggestions

 

[Daisi2112]

oh I forgot, definitely get it appraised so you know the color. That way if you include it with any other stones you can have them match roughly.

 

[Steel]

Hi Eddie,

You must have discussed engagement and e-rings with your intended. Have you mentioned that you have access to a 1ct (family/free) stone?
What position are you both in - age/income/career?
Do you 'believe' in upgrades down the line? Does she?
Would you choose to use the 1ct family stone if you could?

These questions (esp income one) are rhetorical. I wonder if you might be missing a step by thinking about upgrading the stone you have. Discuss it with your girlfriend. She may love or hate the idea of using a family diamond. If you have less disposable income then this stone may be the 'best' option to be engaged now. You can buy a 2ct later on when you have money and keep the 1ct in the family.

Let us know.....

 

[partgypsy]

Wow if a sibling was given an engagement ring and sold it to get a different ring I would be so p-o''d!!! Especially if the ring was an heirloom and sounds as nice as you describe!
Were you given the ring so you would have a ring to propose to your girlfriend? If so, and you can''t use it for that purpose the honorable thing would be to return the ring.
If you go through with selling the ring I would first see if anyone else in your family wanted the ring and give them first dibs using fair market (not retail) value.

 

[MMT]

Please don''t sell the ring. It would make a gorgeous pendant for and anniversary gift down the road

 

[vespergirl]

Date: 5/4/2009 12:48:27 PM
Author: Chrono
Diamonds have a very poor resale value. If you are very fortunate, you might get around 40% of its appraised value. What I would do is to purchase your GF a diamond of her dreams in a setting that she loves, while keeping the heirloom ring as an anniversary present. I would not sell a piece of jewellery that has been specifically handed down to me.

100% agree. Please do not sell an heirloom diamond. I would either put a halo around it & give it to her as an ering, or save it for a future anniversary & just buy her a separate engagement ring. Your grandma probably would have wanted the diamond kept in the family, not sold to strangers.

 

[mayerice]

Eddie,

it all depends on your budget.firstly have it appraised to see what it is 4C''s. Then if you can''t afford another stone, you may want to recut it if the cut is not good. Many older stones are not very well cut. At least she will have an updated cut. If you can afford a new stone put this one away for a big day when yo need a big gift and set in a pendant ,or use it as an earring. You can always find a match later on. The bottom line is budget. Heirlooms are nice, however the GF doesn''t always want a family stone, as her if she minds. Just my 2 cents.

 

[hearts-arrows_girl]

Eeeek! I would almost bet your family did not give you your grandma''s ring to sell. The little money you will get for it will not be worth the trouble. Did you discuss your plans to sell it with the person who gave it to you? You might just consider giving it back to who ever gave it to you so that they can give it to someone else in the family who wants to wear it. Just buy your girl her own ring. A 2ct stone can cost over $20,000, so the approx. $1,000+ you would get for your Grandma''s ring won''t put much of a dent in the price, but you will have lost a family heirloom.
(If you were given the ring to sell, then I misunderstood your post, and you could probably put in on consignment somewhere)

 

[luv2sparkle]

I agree- please please dont sell it. It would make a lovely pendant for your GF to wear on her wedding day. It is not often in life that one gets handed down a
family heirloom. From personal experience, the diamond I would have loved to have went to someone else. I would be hurt if they sold it, because I would have
gladly paid them to have it for sentimental reasons.

 

[SelenaLV]

Have it set in a pendant and give it to your girlfriend on the morning of your wedding as a wedding gift. Something old........just a thought.

But dont sell it. It would also put your girlfriend in a bad light with your family, like what they gave wasnt good enough for her kwim??