Cherokee1979
Shiny_Rock
- Joined
- Dec 27, 2011
- Messages
- 246
Hello all! I recently proposed to my fiancée and I am SO grateful for having had the benefit of PS and the selfless advice of the knowledgeable PS members during my ER search. For that, thank you all very much! 
Also, if anyone is interested, I just posted pics of the ER & WB in SMTB (see [URL='https://www.pricescope.com/community/threads/ritani-el-halo-wedding-set-%E2%80%93-just-engaged.174707/#post-3180428#p3180428']https://www.pricescope.com/community/threads/ritani-el-halo-wedding-set-%E2%80%93-just-engaged.174707/#post-3180428#p3180428[/URL]).
Well, I wanted to create this separate thread in RT because I have been reading here recently about several PS members who have been considering purchasing from the secondary market, and I thought that although my knowledge is SO VERY limited, it would be great if my experience could in some small way be of assistance to another newbie PS’er out there (as the assistance of you all has been such an immense help to me).
As a forewarning, I seemingly cannot help myself from writing long posts, so please stop reading here if you’d like. As another forewarning, I have read a great number of archived RT threads about the risks involved in buying from the secondary market, and those risks assuredly have to be taken with caution.
In my case, I had initially planned to buy new, and budgeted to spend approximately $7,000+ on the ER. However, not long into my search, my fiancée and I learned the happy news that we would be expecting our first child in August!
With that in mind, the issue of money became much more important, and forced me to get the best bang for my buck, without compromising on quality. My fiancée is by no means a “blingy” person (this is only the second piece of real jewelry she has ever owned), but I knew that she was interested in a RB in a platinum halo, which I thought would be a great way to maximize finger coverage on her small fingers. After looking at RB’s at a few B&M’s, I had initially wanted to maximize size, but she expressed to me that she would much rather go with a RB that had high clarity and very high color (she’s very color sensitive). With that in mind, and after looking at the rather high retail prices of quality RB’s and quality halo settings, I decided to only look on the secondary market, and at settings that were sizeable and close to her size (which the jewelers told us was 4.5).
Since I was going to have to buy sight-unseen, I only considered certified stones (which I could verify via an independent appraiser) that I knew would look amazing, without having the benefit of tools such as the IS, ASET, etc. Accordingly, with the advice of PS’ers, I decided to only consider AGS0 ideal RBs, and since I would only be able to view pictures of the stone (I could not find any nice second-hand pieces in my immediate area), to go no lower than a VS2. I had hoped to find a complete platinum halo wedding set that met our criteria on the secondary market, but I was not too hopeful considering how specific my search criteria was.
Long story short, after months of searching online, I stumbled upon a matching Ritani platinum EL halo and matching WB (pictured below) for sale at a very reasonable price. The Ritani EL was PRECISELY what we were looking for, and although it is a pricey setting (or pricey for my budget, that is), it was within our price range considering the significant secondary market discount.
The specs on the stone were also exactly what we wanted: .81 carat RB, AGS0, E color, VS1, 0.9 on the HCA. The size of the rings was right on the money at 4.25, which I discovered via PS’ers could be resized up a bit to 4.5 by Ritani. (However, in the end, it turned out that the 4.25 actually fits my fiancée PERFECTLY! I had her try them on with her eyes closed before proposing, and I was stunned to find out that they fit like a glove.)
After contacting the seller and emailing back and forth with her a great deal, we came to an agreement. I talked her down a bit from her original asking price to $5,000 total for the set, which I thought was a great deal considering the desirability of the RB, & the retail price of the set (discussed below). To ensure my protection, the proposed sale was made conditional upon an independent appraiser, of my selection, verifying that, in fact, the rings were in good condition and the RB matched the AGSL DQD document. (The seller faxed me a copy of the AGSL DQD in advance, and I verified the cert. on the AGSL website.) Also, the seller had provided me copies of the sales receipts & appraisal docs from the B&M she purchased from, and I called the B&M in question, spoke with a manager, and verified that the sale, in fact, took place as well as the specs of the items sold to the seller. I also asked the B&M to fax me a copy of the sale/warranty documents, as further security. Under our arrangement, the seller would not receive my payment until after the appraiser gave his go-ahead. Since the appraiser was also located out of my area, I made arrangements for him to call me after he had performed the appraisal of the wedding set and when he had the rings in front of him so that I could ask him a few questions, all of which he answered to my satisfaction. Thus, I pulled the trigger on the sale, and the rings were shipped to me at my office.
When I received the rings in my office, both looked really good, and the RB was stunning in my office lights!
However, I soon realized that both rings needed a good polish and cleaning. Also, the appraiser had neglected to point out to me (which I guess I cannot fault him greatly for) that the shank of the ER slightly pulled to one side (which it seems can happen with platinum pave.) Since I wanted these rings to look brand new, I located a local B&M that is a Ritani-authorized dealer (Ritani told me that one can only ship items to Ritani in NYC through an authorized dealer). The B&M agreed to ship both rings to Ritani for me along with my work order instructions to Ritani. The shipping and insurance cost me $90.
Considering that I had asked Ritani to do a number of things (repair the bent shank, clean & polish), I had prepared myself to have to pony up some cash to have the work done. However, I was shocked to hear back from the B&M, only a few days after shipping the rings to NYC, that the rings were back and Ritani did not charge me a dime!!! Thank you Ritani! Sure, the work I requested was not a huge job, but how amazing is it of them to do it all for nothing! I guess that, sometimes, paying a premium for a “brand name” (I normally eschew labels like the plague) has its benefits. Anyways, the rings looked absolutely beautiful upon their return. I have looked at new Ritani sets, and my rings looked brand new!
To sum up the savings on the secondary market:
As mentioned, I bought the wedding set for $5,000. The seller bought the set in only 2010. One of the main reasons I was drawn to the secondary market was the recent price spike in precious metals and especially RB’s. The retail price of my RB when the seller purchased it was $5,000. I wanted to compare this to the price today, as well as the price of the Ritani bands, and found an identical RB on WF (.81, E color, VS1, AGS0, non-ACA, non-H&A), and it retails for $6,400 (see http://www.whiteflash.com/loose-diamonds/round-cut-loose-diamond-2724964.htm). Regarding the bands, the current retail price of the setting in platinum is $3,700 (http://www.pearlmansjewelers.com/jewelry-designers/ritani-jewelry/rings/08QQ1/12/ and), and the price of the WB is $2,900 (http://www.pearlmansjewelers.com/jewelry-designers/ritani-jewelry/rings/09QQ1/), both of which are, understandably (I love Pearlmans! ), above what the seller paid in 2010.
In sum, by going with the secondary market, which was admittedly rather risky and necessitated a boat-load of legwork and overall “butt-covering”, I paid less than 40% of retail for the set, which my fiancée is in love with. I could not be happier with the rings or the savings, and I have already begun to use the money saved toward our child’s nursery & our upcoming honeymoon, both of which make us very happy. Well, I hope that this post did not put anyone to sleep, and that it might be of some small help to another newbie. Thanks again, PS!
Also, if anyone is interested, I just posted pics of the ER & WB in SMTB (see [URL='https://www.pricescope.com/community/threads/ritani-el-halo-wedding-set-%E2%80%93-just-engaged.174707/#post-3180428#p3180428']https://www.pricescope.com/community/threads/ritani-el-halo-wedding-set-%E2%80%93-just-engaged.174707/#post-3180428#p3180428[/URL]).Well, I wanted to create this separate thread in RT because I have been reading here recently about several PS members who have been considering purchasing from the secondary market, and I thought that although my knowledge is SO VERY limited, it would be great if my experience could in some small way be of assistance to another newbie PS’er out there (as the assistance of you all has been such an immense help to me).
As a forewarning, I seemingly cannot help myself from writing long posts, so please stop reading here if you’d like. As another forewarning, I have read a great number of archived RT threads about the risks involved in buying from the secondary market, and those risks assuredly have to be taken with caution.
In my case, I had initially planned to buy new, and budgeted to spend approximately $7,000+ on the ER. However, not long into my search, my fiancée and I learned the happy news that we would be expecting our first child in August!
With that in mind, the issue of money became much more important, and forced me to get the best bang for my buck, without compromising on quality. My fiancée is by no means a “blingy” person (this is only the second piece of real jewelry she has ever owned), but I knew that she was interested in a RB in a platinum halo, which I thought would be a great way to maximize finger coverage on her small fingers. After looking at RB’s at a few B&M’s, I had initially wanted to maximize size, but she expressed to me that she would much rather go with a RB that had high clarity and very high color (she’s very color sensitive). With that in mind, and after looking at the rather high retail prices of quality RB’s and quality halo settings, I decided to only look on the secondary market, and at settings that were sizeable and close to her size (which the jewelers told us was 4.5). Since I was going to have to buy sight-unseen, I only considered certified stones (which I could verify via an independent appraiser) that I knew would look amazing, without having the benefit of tools such as the IS, ASET, etc. Accordingly, with the advice of PS’ers, I decided to only consider AGS0 ideal RBs, and since I would only be able to view pictures of the stone (I could not find any nice second-hand pieces in my immediate area), to go no lower than a VS2. I had hoped to find a complete platinum halo wedding set that met our criteria on the secondary market, but I was not too hopeful considering how specific my search criteria was.
Long story short, after months of searching online, I stumbled upon a matching Ritani platinum EL halo and matching WB (pictured below) for sale at a very reasonable price. The Ritani EL was PRECISELY what we were looking for, and although it is a pricey setting (or pricey for my budget, that is), it was within our price range considering the significant secondary market discount.
The specs on the stone were also exactly what we wanted: .81 carat RB, AGS0, E color, VS1, 0.9 on the HCA. The size of the rings was right on the money at 4.25, which I discovered via PS’ers could be resized up a bit to 4.5 by Ritani. (However, in the end, it turned out that the 4.25 actually fits my fiancée PERFECTLY! I had her try them on with her eyes closed before proposing, and I was stunned to find out that they fit like a glove.)
After contacting the seller and emailing back and forth with her a great deal, we came to an agreement. I talked her down a bit from her original asking price to $5,000 total for the set, which I thought was a great deal considering the desirability of the RB, & the retail price of the set (discussed below). To ensure my protection, the proposed sale was made conditional upon an independent appraiser, of my selection, verifying that, in fact, the rings were in good condition and the RB matched the AGSL DQD document. (The seller faxed me a copy of the AGSL DQD in advance, and I verified the cert. on the AGSL website.) Also, the seller had provided me copies of the sales receipts & appraisal docs from the B&M she purchased from, and I called the B&M in question, spoke with a manager, and verified that the sale, in fact, took place as well as the specs of the items sold to the seller. I also asked the B&M to fax me a copy of the sale/warranty documents, as further security. Under our arrangement, the seller would not receive my payment until after the appraiser gave his go-ahead. Since the appraiser was also located out of my area, I made arrangements for him to call me after he had performed the appraisal of the wedding set and when he had the rings in front of him so that I could ask him a few questions, all of which he answered to my satisfaction. Thus, I pulled the trigger on the sale, and the rings were shipped to me at my office.
When I received the rings in my office, both looked really good, and the RB was stunning in my office lights!
However, I soon realized that both rings needed a good polish and cleaning. Also, the appraiser had neglected to point out to me (which I guess I cannot fault him greatly for) that the shank of the ER slightly pulled to one side (which it seems can happen with platinum pave.) Since I wanted these rings to look brand new, I located a local B&M that is a Ritani-authorized dealer (Ritani told me that one can only ship items to Ritani in NYC through an authorized dealer). The B&M agreed to ship both rings to Ritani for me along with my work order instructions to Ritani. The shipping and insurance cost me $90. Considering that I had asked Ritani to do a number of things (repair the bent shank, clean & polish), I had prepared myself to have to pony up some cash to have the work done. However, I was shocked to hear back from the B&M, only a few days after shipping the rings to NYC, that the rings were back and Ritani did not charge me a dime!!! Thank you Ritani! Sure, the work I requested was not a huge job, but how amazing is it of them to do it all for nothing! I guess that, sometimes, paying a premium for a “brand name” (I normally eschew labels like the plague) has its benefits. Anyways, the rings looked absolutely beautiful upon their return. I have looked at new Ritani sets, and my rings looked brand new!
To sum up the savings on the secondary market:
As mentioned, I bought the wedding set for $5,000. The seller bought the set in only 2010. One of the main reasons I was drawn to the secondary market was the recent price spike in precious metals and especially RB’s. The retail price of my RB when the seller purchased it was $5,000. I wanted to compare this to the price today, as well as the price of the Ritani bands, and found an identical RB on WF (.81, E color, VS1, AGS0, non-ACA, non-H&A), and it retails for $6,400 (see http://www.whiteflash.com/loose-diamonds/round-cut-loose-diamond-2724964.htm). Regarding the bands, the current retail price of the setting in platinum is $3,700 (http://www.pearlmansjewelers.com/jewelry-designers/ritani-jewelry/rings/08QQ1/12/ and), and the price of the WB is $2,900 (http://www.pearlmansjewelers.com/jewelry-designers/ritani-jewelry/rings/09QQ1/), both of which are, understandably (I love Pearlmans!
), above what the seller paid in 2010. In sum, by going with the secondary market, which was admittedly rather risky and necessitated a boat-load of legwork and overall “butt-covering”, I paid less than 40% of retail for the set, which my fiancée is in love with. I could not be happier with the rings or the savings, and I have already begun to use the money saved toward our child’s nursery & our upcoming honeymoon, both of which make us very happy.
Well, I hope that this post did not put anyone to sleep, and that it might be of some small help to another newbie. Thanks again, PS!
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