Help buying a vintage ring

[plinket]

My boyfriend and I are looking at engagement rings and on a whim I went to a local, high-end store (Tiny Jewel Box in DC) to get some ideas. Of course I found the ring of my dreams, which my boyfriend loves as well and wants to purchase for me. I’m looking for a little advice about what would be reasonable to pay and how/if it is appropriate to negotiate at a high-end store.

The ring is vintage from 1925. It has a very small, delicate platinum setting with an old european cut diamond, J color, SI1 and 1.29 ct. The asking price is $6,800.

I’ve done some research about old european cuts, so I have a (very) little background about the history and how the shape compares to a modern day brilliant cut, but I haven’t found much about how the price compares. Can anyone give me information about this? Also, should I expect certification? Lastly, are there any special questions we should ask about this ring because it isn’t newly made?
I really want my boyfriend to have a positive experience with this purchase and to get a fair price. Thanks so much for your help!

 

[Skippy123]

Welcome to Pricescope, I love oec and omc diamonds!!! Do you have pictures you could post? Does it have an appraisal?

 

[elmo]

It's appropriate to ask about pricing. It depends on the store, but it's pretty normal to have some flexibility built into an asking price on something like this. I wouldn't let them know it's "the ring of my dreams"

.

Pricing is a little tricky unless you're a pro who follows the market for this sort if thing. It's a unique item. Old World Diamonds has a broad inventory of loose stones - I have the feeing that asking prices there are "low retail". Multiple J-SI1/VS2 1.3ct OECs (EGL-USA) there are about $5000-5500, so retail pricing on your ring doesn't seem out of line. Assuming it's J-SI1 and the ring is in good shape.

Why not seek out a professional opinion? Martin Fuller is nearby, and the forum contributors are 24 hours away by Fedex

.

 

[mrssalvo]

If I were purchasing an antique/estate ring, I''d see if the store will allow the purchase to be contigent upon the ring checking out with and indepentant appraiser (someone who does not work for a jewelry store.) Many will offer a return period as well. Then I''d take the ring to be checked out. the appraiser can tell you if you are getting what you are paying for and if the price is in line. Then if all checks out you''ve got a beautiful heirloom, if not you can return it. Most antique rings will not come with certs on the diamonds.

 

[surfgirl]

When we bought my Art Deco ering we did what Mrs. Salvo recommends...though after developing a rapor with my shop owner, they allowed me to sign out the ring on consignment, get it appraised and return it to them within 24 hours. I ended up getting two appraisals, just to set our minds at ease about what we were purchasing as our ring also had no papers. I think two appraisals made us very comfortable knowing that two appraisers appraised the ring nearly identically. If Martin Fuller is an independent appraiser, you could call him and ask about his comfort level appraising vintage rings. If he''s experienced in antiques then I''d either ask the shop if they''re willing to send the ring to him directly for an appraisal (so you dont have to buy it first), or if they refuse, then see if they''ll give you a return policy that has no strings, just a straight "if you want a full refund the ring must be returned in X number of days..." One negotiating point about the ring and having them send it to an appraiser directly would be to offer that IF you decide NOT to buy the ring, you will turn over the appraisal to them so they can have a paperwork to offer with that ring to future buyers. Just a suggestion. And for the love of god, dont let them know how much you love the ring!

 

[elmo]

Fuller is a DC-area appraiser - used to be in the resources list here, not sure what happened with that.

 

[plinket]

Thank you so much for this information. My boyfriend is going to go in (I have no poker face, so I’m glad I don’t have to be part of the negotiating/purchasing process.) and inquire about having the ring appraised by an independent appraiser. Martin Fuller seems like a great option for, because the offices are right next door to my boyfriend’s work, so he can stop by personally. I think he’ll want to make an appointment to be present for the appraisal.

The jewelry store policies state that items can be returned for a refund within 7 days of purchase with a receipt. If they won’t let us have it appraised before we purchase the ring, is 7 days a reasonable time to have an appraisal completed?

Thanks again!

 

[surfgirl]

Before actually buying the ring, I''d make an appointment with your appraiser so that you know for sure that the ring can be appraised the same day it''s picked up. That gives you some breathing room to decide to keep it or not.

 

[:)]

Date: 10/31/2007 1:17:36 PM
Author: surfgirl
When we bought my Art Deco ering we did what Mrs. Salvo recommends...though after developing a rapor with my shop owner, they allowed me to sign out the ring on consignment, get it appraised and return it to them within 24 hours. I ended up getting two appraisals, just to set our minds at ease about what we were purchasing as our ring also had no papers. I think two appraisals made us very comfortable knowing that two appraisers appraised the ring nearly identically. If Martin Fuller is an independent appraiser, you could call him and ask about his comfort level appraising vintage rings. If he''s experienced in antiques then I''d either ask the shop if they''re willing to send the ring to him directly for an appraisal (so you dont have to buy it first), or if they refuse, then see if they''ll give you a return policy that has no strings, just a straight ''if you want a full refund the ring must be returned in X number of days...'' One negotiating point about the ring and having them send it to an appraiser directly would be to offer that IF you decide NOT to buy the ring, you will turn over the appraisal to them so they can have a paperwork to offer with that ring to future buyers. Just a suggestion. And for the love of god, dont let them know how much you love the ring!

ROFL!

 

[MoonWater]

I don''t know anything about the value/costs of old stones, but that price sounds insanely cheap for the Tiny Jewel Box. I just walked past today and avoided the urge to go in. Let us know how negotiations go because maybe I can negotiate on some stuff lol.

 

[plinket]

Thanks to everyone for your help. We bought the ring, had it appraised right away, and are quite happy with the whole experience.

As far as Tiny Jewel Box goes, we dealt with several different sales people, some more helpful and friendly than others. They didn''t negotiate, but I don''t think the asking price was out of line. I think overall the pieces offered at TJB were better than the service.

Again, thanks to everyone.

 

[Miscka]

pics???

 

[Rhea]

What a tease! Where are the photos? I hope that you''re enjoying your ring.

 

[plinket]

Pics to come. It''s being sized and shipped. Sorry!

 

[Skippy123]

Date: 11/5/2007 10:02:49 PM
Author: plinket
Pics to come. It's being sized and shipped. Sorry!

Yay

we will be waiting