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Please fix my mental issue with trade-in

Susiecushie

Rough_Rock
Joined
Apr 27, 2010
Messages
88
Hi all,

I just traded-in my rb for an avc. It just got relisted last night and it was relisted for $3200 more than I paid for it (7 months ago). The avc I bought is 2200 (or so) more than the trade-in value. I don't know why but it REALLY bothers me. I KNOW that it would be more but this just seems so extreme.

Please help me adjust this in my mind. So that I don't look at my AVC and be bitter that the trade-in could have paid for the AVC and an ok setting? I know (objectively) I wouldn't have gotten the 3200 more by selling it myself. Could I have gotten more than the trade in? It is listed for 40% more than I bought it. It is seriously screwing with my head. And when things screw with my head it can really bother me. Sometimes I end up hating what I have. :( I so don't want that to happen.

It also bothers me that they wouldn't even give me an estimate on how much they would relist it for even though they knew it was a big concern of mine with trading it in. :(

Help!!! Make this mind clean for me. :(

Susan
 

MissGotRocks

Super_Ideal_Rock
Premium
Joined
Jun 23, 2005
Messages
12,670
That's the trade in game with this high price diamond market. The only other thing you could have done would have been to sell yours outright and then buy an AVC but you know all that could have or would have been involved.

Are these two stones comparable in size, color and clarity? From a dollars and cents perspective, I understand your angst. However, if you got something you really wanted, then perhaps the ends justifies the means? That's really the only way you can look at it because diamonds can be a loosing proposition in many respects. If it truly bothers you, then call them back and tell them you want to undo the trade.

There is nothing that anyone can say or do to truly make this OK - you just have to really, really love what you are getting and feel that it is worthwhile to you. Some pleasures just can't be measured in dollars and cents!

Care to tell us about the new stone? We'd love to hear all about it!
 

Circe

Ideal_Rock
Trade
Joined
Apr 26, 2007
Messages
8,087
I remember your posting about your stone! You got the 1.76 K VS2, right?

I know it's frustrating to pay for an intangible, and, worse yet, to compare that intangible to the very real cash that somebody else stands to make. But the two things that make the difference here are this:

1) The rarity of the cut on the AVC is actually worth the premium. They're the only cushions out there cut for light performance at that level, and, frankly, they're just beautiful. Research, risk, and their experimental nature: that's where that extra 1K disappeared to.

2) Since you couldn't have made the 3K difference selling your RB ... it's imaginary money. While I love diamonds and love jewelers (my dad was one before he retired, many of my friends still are), the fact of the matter is, the house always wins. And that's fair - if jewelers couldn't make a profit, couldn't earn a living, then there would be no beautiful artifacts for the rest of us to enjoy!

So I hope your stone can be made mind-clean for you. It sounds like a beauty, and I am looking forward to seeing pics! But if it can't ... undo the trade quickly, and enjoy your round. Either way, jewelry is meant to be enjoyed, not a source of stress!
 

canuk-gal

Super_Ideal_Rock
Premium
Joined
Apr 19, 2004
Messages
21,152
Circe|1319580429|3047524 said:
I remember your posting about your stone! You got the 1.76 K VS2, right?

I know it's frustrating to pay for an intangible, and, worse yet, to compare that intangible to the very real cash that somebody else stands to make. But the two things that make the difference here are this:

1) The rarity of the cut on the AVC is actually worth the premium. They're the only cushions out there cut for light performance at that level, and, frankly, they're just beautiful. Research, risk, and their experimental nature: that's where that extra 1K disappeared to.

2) Since you couldn't have made the 3K difference selling your RB ... it's imaginary money. While I love diamonds and love jewelers (my dad was one before he retired, many of my friends still are), the fact of the matter is, the house always wins. And that's fair - if jewelers couldn't make a profit, couldn't earn a living, then there would be no beautiful artifacts for the rest of us to enjoy!

So I hope your stone can be made mind-clean for you. It sounds like a beauty, and I am looking forward to seeing pics! But if it can't ... undo the trade quickly, and enjoy your round. Either way, jewelry is meant to be enjoyed, not a source of stress!
HI:

I agree with this. You enjoyed your old stone and (am sure you) will now enjoy the new piece. There is "value" in that.

cheers--Sharon
 

Lula

Ideal_Rock
Joined
Apr 5, 2009
Messages
4,545
Your new diamond sounds gorgeous - please post photos, if you haven't.

Here's my suggestion about how to think about your trade-in: You're wearing a beautiful new diamond on your finger; the vendor is carrying an expensive piece of inventory (your RB) that may or may not sell at the new asking price. That's definitely a financial risk that your vendor is assuming with the trade-in. Your vendor's trade-in made it possible for you to get your new diamond without waiting for your RB to sell. If you sold it yourself or put it on consignment, you may have received less (people buying on the secondary market are notoriously cheap) than you did for the trade-in, and you would have had to assume the risk and hassle of selling an expensive item. You didn't have to worry about getting scammed or dealing with shipping or insurance.

Hope this makes you feel a little better about the trade-in :)
 

Wink

Ideal_Rock
Trade
Joined
May 3, 2001
Messages
7,510
In the bricks and mortar world most jewelers will only take a trade in if you are spending twice what you paid, and many will not do them at all.

It is very rare for there to be so much movement in the price of your diamond in such a short time, but the jeweler who agreed to the trade would also have given you the full value had the value of your diamond gone down. Such is the benefit of dealing with the kind of jewelers that you deal with here on Pricescope.

I know it might seem like he is making too much on this stone, and that this bothers you, but there have been many trades and many years when there was little or no profit in such a trade, so it is only fair that because the jeweler was willing to take the risk that occasionally he should make a good profit too.

But of course, I am looking at it from the jeweler's side of the equation...

Wink
 

kenny

Super_Ideal_Rock
Premium
Joined
Apr 30, 2005
Messages
28,962
If you paid $10,000 5 years ago and diamond prices had since fallen 40%, but they still gave you 70% or $7,000 as promised, then listed it for $6,000 (todays going rate) would you still be upset?

A deal's a deal.

BTW, nobody held a gun to your head and forced you to give back a diamond that had gone up so much in retail value.
How much prices have gone up in the last few years has been posted on PS a zillion times.
 

CedarRapids

Shiny_Rock
Joined
Aug 16, 2011
Messages
146
I had to pull out an algebra book to figure this out, so tell me if this is right?

The diamond is listed for 3,200 more than what you paid for it 7 months ago and that represents a 40% increase from what you paid 7 months ago?

So, does that mean you bought the diamond for 8,000, traded it in, and now it's listed for 11,200?

In reading your previous post when you picked out the AVC, you seem really pleased with it. Like super jumping-for-joy pleased.

Is it safe to assume you got 8,000 for the trade-in? If so, then you didn't lose any money on the trade-in. Or did you? If you didn't, then I see the transaction as paying $2,200 to be really happy with the ring on your finger. If you did, then it's the ($8000-tradein)+$2,200, to become really happy. I dunno, seems like an acceptable price to pay, but I don't know what your trade-in got you.

As far as getting more for your traded-in diamond than what you got, maybe you could have. Maybe by listing it in the right place and making the sale. Or maybe by waiting for months to years for your original diamond to be worth a lot more than $8000, but even then, you'd never sell it for as much as a vendor could and would. Too much uncertainty and too unpredictable.

I think you came out having done well.
 

Laila619

Super_Ideal_Rock
Premium
Joined
Apr 28, 2008
Messages
11,613
Hi,

Did you look into selling your RB, shopping it around? Do you think you could have gotten more if you sold it instead of traded it in?
 

Susiecushie

Rough_Rock
Joined
Apr 27, 2010
Messages
88
Thanks everyone,

Most of you have nicely made it clear to me what I have already known. It just amazes me how much the diamond has increased in value. I know everything that you have said and I agree. I LOVE the AVC. Adore it!!! Wouldn't trade it back!!! EVER!!! I love it so much that it still isn't set because I haven't come up with a setting yet. :( I know this was a risk/reward on the jewelers part. Just as it was on mine. I totally agree the jeweler should make money (having a family business I get this myself) but dang it was surprising to see it in black and white, kwim? But the AVC is what I have always wanted and I finally got what I wanted. So you are all right. I paid to not have have to deal with trying to sell a diamond, paid for great service and for access to great diamonds. :)

Kenny, I never said anyone posted that someone forced me to take part in this. I also have seen the increase in diamond prices. That still doesn't mean that someone shouldn't be a bit shell-shocked at the price differential. It hasn't been over YEARS. It has been months. No need to be so aggressive. The only criticism I had was that the jeweler didn't give me an estimate on how much the increase was. They had to know it was more but refused to answer. My ONLY issue with them. The rest of it was me...per the title of the post "please fix MY mental issue with trade-in."

Thanks everyone.

Susan
 

diamondseeker2006

Super_Ideal_Rock
Premium
Joined
Jan 11, 2006
Messages
56,129
When I was deciding about whether to trade or consign my stone, I looked up current prices on stones with the same specs right here on the PS diamond search. So I determined I would do better consigning since I bought my stone 5 years ago. I think by the time you paid the consignment commission, you wouldn't come out too much differently either way. Diamond prices have gone up, and that is the downside of trading or buying a new stone at the moment. But with AVC's, I think it is best to buy when you find the one you love, because they are not like ideal rounds which mostly look alike.
 

MissStepcut

Brilliant_Rock
Premium
Joined
Jun 29, 2011
Messages
1,720
Remember that the jeweler incurs costs in selling that drive down the profit he walks away from: overhead, insurance, marketing expenses (photography, advertising, maintaining a website), employees, their benefits, the value of his own time... just because he SELLS it for more than you paid doesn't mean he'll walk away with $3200 in profit. For all we know, diamond prices will drop before he gets it out the door and he'll actually take a loss.
 

tyty333

Super_Ideal_Rock
Premium
Joined
Dec 17, 2008
Messages
22,491
Just try to remember that you got to wear your first stone (not sure how long) for basically free because you got the same money back
you paid for it. A lot of people are selling stuff on diamond bistro and loosing the money they put into it. I'm looking forward to seeing
the mount and final setting for you new AVC! I'm sure it will be gorgeous!
 

SweetAsscher

Shiny_Rock
Joined
Sep 11, 2011
Messages
377
I think I understand what you mean; it kinda sucks that your new stone price is less than the current price of your old stone. Is that accurate to how you feel?
I agree with the other posters that the vendor isnt wrong for trying to make a profit but I totally see where you are coming from in feeling like for the current price of your rb you could've bought a larger avc or gotten a setting as well.

You want to feel like you upgraded not downgraded and the fact that your new avc costs less than your rb bugs you a bit.

At least you didn't lose out any money and you got your dream diamond ;-) I was eyeing that exact AVC!
 
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