Please Help with Trade-In Dillema!

[DoraCharm]

About 14 years ago, my husband purchased my engagement ring at Mayor’s (mall chain store) for $8,200. It’s a marquise, F, SI1, 1.38 carat diamond. I would like to upgrade to a round diamond.

Using Mayor’s trade-in policy, they will give me $9,350 for my diamond, but I must spend at least $14,000 for my new stone. They have a round, G, SI1, 1.35 carat for $14,000 (don''t have all the specs yet). Is this way out of line? Am I completely nuts for even considering this?

I’ve researched online diamond pricing, but I do like the fact I''m dealing with a local jeweler and do not know a thing about selling/consigning my old diamond.

Thanks for everyone’s input!

 

[neatfreak]

Considering that the few diamonds on Bluenile I can find that have the same general qualities (size, color, clarity, and a good cut) run about $8,000, yes I would say that is a crazy crazy price.

I would see if there is another way to get your trade-in. I have heard that jamesallen and pearlman''s does consignment, you might have better luck (and a better selection of diamonds after!) there.

Considering that even WITH your trade in you still have to pay almost $5,000 for the new stone, it just isn''t worth it. For $5,000 WITHOUT trading in your old ring you could get almost a 1 carat stone in an inexpensive setting!

But that is just my opinion.


Maybe use the online prices of diamonds to negotiate for the new stone?

 

[yellowsparkles]

quick question. why are you trading in for a smaller diamond? You can easily do a price check on a round. I am NOT and expert, but that sounds way too high to me.