Is the price too high for the ring? $11 000 second hand ring

[Alexandra23]

Dear Community,
I am new and this is my first post. Thank you all in advance for your time and attention, I do appreciate it. I do apologize if I show the lack of experience.
I am shopping for an engagement ring and I found this awesome ring for $11,000.
Now, I think the price is a little bit too high but let me give you the characteristics (the report is also attached):









It's oval, H color, VS1 clarity. 1.5 ct size for central stone

Now things that concern me (and that's why I think the price shroud be lower):

-strong fluorescence (but the seller says since the fluorescence does not have negative effect, it should not affect the price, is the seller telling the truth?)

-depth (please refer to the report), would you consider that an ok depth for an oval? I've heard that they shouldn't be cut more than 61.5%, but again, I am extremely inexperienced and I feel bad making any statements

-the fact that it's not new, shouldn't it lower the price?



Now, I would love to hear your opinion what you think the price should be for the ring in this size, H color, VS1 clarity, oval shape, with strong fluorescence and the setting of the ring included.
Is $11 000 a deal?

 

[tyty333]

Re: Is the price too high for the ring? $11 000 second hand

Who is selling the ring? Is a jeweler selling it? A pawn shop? A individual? Is it on consignment? The fact that it is not new
should lower the price more than your concerns about the stone specs. Please give us some more info.

 

[Alexandra23]

Re: Is the price too high for the ring? $11 000 second hand

Hello a "private jeweler" is selling it.
Here is the link
http://www.diamonddirectbuy.com/shop/diamond-rings-online/engagement-rings/2-20ctoval-ring-1-50-h-vs1-gia-oval-center-detail

 

[tyty333]

Re: Is the price too high for the ring? $11 000 second hand

Here is a 1.5 H/VS1 no fluor $10,200 (I'm not saying that this one is particularly nice or anything but same size/color/clarity)
https://enchanteddiamonds.com/diamonds/search?carat_max=1.67&carat_min=1.46&clarity=VS1&color=H&heirloom=true&shape=Oval#diamond=O150-737654Z80

Setting like that (which doesnt look that great to me in the pictures so I dont think it's a high quality and doesnt look like it fits
the stone that well) $2k
https://www.jamesallen.com/engagement-rings/halo/14k-white-gold-diamond-split-shank-double-halo-pave-engagement-ring-item-17845

So, if you wanted to make that ring from scratch you could probably do it for about $12k so for a second hand ring, $11k is not
a good price. I believe that even stones that are not affected by Strong Fluor are still discounted but the fact that it is second
hand should get you much more of a discount. Rings are like cars (unfortunately), you drive it off the lot and your lose a big
chunk of the value.

 

[Alexandra23]

Re: Is the price too high for the ring? $11 000 second hand

Thank you for your help! Yes, I agree, when I was searching through jamesallen I got the same impression that I can build it from scratch for almost the same price.

May I ask small questions?

1)Do vintage rings in general get discount because they don't look as good as when they were bought? Because in some article I read that diamond is a diamond, no matter how old it is, so I wonder if buying a vintage ring in general is a good way to save money considering the fact that stones don't get worn off like clothes does for example. What do you think? When you buy a vintage ring, does it a allow you to get the most for your money?

2)I want a halo setting, the stone preferably 1.5-2. Of course for my money I am more likely to get 1.5 Will an oval shape have more coverage than a round shape? Is it true that the round shape holds the retail value the best?

 

[ChristineRose]

Re: Is the price too high for the ring? $11 000 second hand

There's no rule for the price of vintage rings.

First of all, diamonds do get damaged, and you have to be aware of this when looking at used stones. Rings of course get damaged more easily than diamonds, but some can be made as good as new, some can't.

Styles change, and cutting techniques improve. Right now certain vintage cuts are selling for MORE than brand new stones, but much of what was once hot is trading at a discount.

Most diamonds once sold end up in the same place as everything else. The metal is melted down; the stone is repolished and possibly recut to newer tastes, and the stones go in the inventory with all the "new" stones.

On the other hand, a truly spectacular one of a kind work of art will be worth more intact.

Buying a ring privately is in fact a good way to save money. The resale price of stones at a pawn shop or jeweler's or CASH FOR GOLD is typically about 10% of the retail price (although there's a huge variation). The seller may have paid $15,000 and have been offered $5,000 at a pawnshop. So splitting the difference is a good deal for all. But it's full of potential pitfalls for the average buyer or seller, which is obviously why you can save money doing it.

As far as this ring, it looks pretty ordinary. If the seller sold it to a pro, the ring would likely be melted down. The stone does look nice in the picture. Also, that ring could probably not be resized easily, so unless it already fits, you are really only buying a stone and comparable stones are available new from established sellers for about the same.

 

[tyty333]

Re: Is the price too high for the ring? $11 000 second hand

Thank you for your help! Yes, I agree, when I was searching through jamesallen I got the same impression that I can build it from scratch for almost the same price.

May I ask small questions?

1)Do vintage rings in general get discount because they don't look as good as when they were bought? Because in some article I read that diamond is a diamond, no matter how old it is, so I wonder if buying a vintage ring in general is a good way to save money considering the fact that stones don't get worn off like clothes does for example. What do you think? When you buy a vintage ring, does it a allow you to get the most for your money? We need to make sure we are using the correct terminology. Do you mean vintage as in old...that one
you were looking at is not vintage. It is just considered used, second hand or pre-loved as we like to say. Normally pre-loved
rings are a really good value (like you said, they dont really go bad). However, you cant usually be specific when looking for pre-loved
like I want a 1.5 G/SI1 oval in a double halo...you may run across one for sell but you might not either.

2)I want a halo setting, the stone preferably 1.5-2. Of course for my money I am more likely to get 1.5 Will an oval shape have more coverage than a round shape? Is it true that the round shape holds the retail value the best?An oval will have more coverage than a
round but it wont have as good light return as a round. A round WILL hold more of it's value than a fancy cut like an oval.

 

[Alexandra23]

Re: Is the price too high for the ring? $11 000 second hand

Thanks so much!
Ok, so I think then round is obviously a better choice.
Do you think a 1.5 carat round shape diamond in general will look too small in a 2 layer halo?
Have you ever seen rings that even with 1.5 ct look good with double halo?

 

[tyty333]

Re: Is the price too high for the ring? $11 000 second hand

I personally prefer single halos but this ring is not for me. How do you know what your GF wants? Did she ask for a double halo?

What is your overall budget?

Here is a 1.52 ring from James Allen...I'll let you decide what you think

 

[Alexandra23]

Re: Is the price too high for the ring? $11 000 second hand

oh sorry I am the GF lol.
My husband is Russian, we don't do engagement rings in Russia, its not that common. I still want the engagement ring cause we moved to US and will be living here, but since it's not really "the thing" in my country I decided that I will choose it on my own.

So, I decided that I want to do round shape, 1.5-2 ct, color up to H, eye-clear (prefer up to VS2), no flour if possible, excellent cut, excellent symmetry, table 53-57, depth 60-61.5.

And I think I want to do a single halo, because a double one looks like too much.

I think with these parameters, the cheapest I can go with (1.5 ct) is $12,000 with setting, but I really want something closer to 2 ct, and no more than $14,000. So, here are my stats, let me know what you think

 

[Gypsy]

Re: Is the price too high for the ring? $11 000 second hand

We can help you find a nice diamond. That said, we'll use our own specs for rounds. Trust me when I say that we know what specs make an ideal round. Your numbers are well intentioned but.... they are wrong. I don't know where you are getting the numbers from, but I feel safe to say that you should stop listening/reading their (bad) advice.


I do think a single halo is a better choice. A nice high quality halo is going to be a great choice.

You also don't need to stick to H color in an ideal round in a halo. I color is fine there too.

 

[Gypsy]

Re: Is the price too high for the ring? $11 000 second hand

This stone is a fabulous one for you: https://www.jamesallen.com/loose-diamonds/round-cut/1.81-carat-i-color-si1-clarity-excellent-cut-sku-1988127

Put on hold ASAP (no cost, no obligation).

Setting;
https://www.jamesallen.com/engagement-rings/danhov/14k-white-gold-danhov-per-lei-single-shank-halo-engagement-ring-style-le105-item-58089

 

[Alexandra23]

Re: Is the price too high for the ring? $11 000 second hand

Thank you for your suggestions!
I will look into that.
Do you think that the small occlusions that I see on the diamond that you gave me a link to, won't be seen to a naked eye?
THanks

 

[Alexandra23]

Re: Is the price too high for the ring? $11 000 second hand

And I have one more small question, this may be dumb, but I don't understand the appraisal values on "I do now I don't"

For example this listing https://www.idonowidont.com/diamonds/agsl-certified-round-brilliant-114-carat-ideal-cut-color-g15-clarity-2vvs2-demarco-platinum

has a diamond 1.14 ct, G color, VVS2 clarity and they said its retail value is $18 000 (they attach a document as a proof)
when I go to JamesAllen I find similar items for $7000. How comes that their appraisal value is so high? Am I not understanding something correctly?

 

[flyingpig]

Re: Is the price too high for the ring? $11 000 second hand

And I have one more small question, this may be dumb, but I don't understand the appraisal values on "I do now I don't"

For example this listing https://www.idonowidont.com/diamonds/agsl-certified-round-brilliant-114-carat-ideal-cut-color-g15-clarity-2vvs2-demarco-platinum

has a diamond 1.14 ct, G color, VVS2 clarity and they said its retail value is $18 000 (they attach a document as a proof)
when I go to JamesAllen I find similar items for $7000. How comes that their appraisal value is so high? Am I not understanding something correctly?

It is a common practice to inflate the appraisal value to make the customer feel "good". Such value means nothing.

Having that said, you will not find a "similar" AGS 000 1.14c G/VVS at 7k. The ring is from JA, and the stone is probably True Hearts branded. The proportions are just perfect. It is more like 10k, than 7k. Also, it was graded and appraised in 2012/2013, when diamond prices were a bit higher.

 

[SpencerDane]

Re: Is the price too high for the ring? $11 000 second hand

I love the ring. It looks absolutely stunning to me and I would be thrilled to have it as an ering. That being said, I am not an expert in diamonds like many here are. But even so, the idea of paying $11,000 for a second hand ring is way beyond my comprehension. Especially if you can get a brand new ring in even better condition at close to the same price.

 

[boerumbiddy]

Re: Is the price too high for the ring? $11 000 second hand

My advice: Do what Gypsy says. Always good advice. And reserve it now, before a lurker grabs that beautiful stone out from under you.

 

[Alexandra23]

Re: Is the price too high for the ring? $11 000 second hand

Dear all,
the seller emailed me saying that the ring is new, so thats why she thinks 11,000 is a good price

 

[Gypsy]

Re: Is the price too high for the ring? $11 000 second hand

I personally don't love that particular oval.

What designer/vendor is that setting by?

 

[denverappraiser]

Re: Is the price too high for the ring? $11 000 second hand

The GIA report is only about 4 months old. Based on that and the photos, new seems likely.

That said, the benefit of new largely has to do with the dealer. There's no wear to the prongs, shank, etc. There may be a warranty in place. Trade-up programs may apply. There's a shopping experience at the store that you may like. You know who made it. Return policies are usually better. These sorts of reasons are why used things cost more at stores too. You may or may not value them, and you may be able to get them from a private seller, but diamonds aren't perishable. Used is not, of itself, a problem or even an attribute that's directly measurable.