I found a ring I really like for my gf, it is antique from ~1925.
The appraisal says it has an est. retail replacement value of $10,242. I paid $10,000. It was originally listed for $10,484.
(The numbers are made up - though close - but the % differences are the same)
I'm still within my window where I can return it, but let me ask the general wisdom of the board:
Did I overpay? I realize that's a bit subjective so I guess what I'm asking is, is this normal? I always feel like the replacement value which is probably for insurance purposes would probably OVERESTIMATE the price of the ring if anything. And additionally you can haggle with dealers (but maybe they inflate knowing you'll haggle). I'm trying not to parallel buying a ring with buying a car because cars (especially "options") are quite a bit overpriced compared to production costs.
Thanks for your input guys and gals!
The appraisal says it has an est. retail replacement value of $10,242. I paid $10,000. It was originally listed for $10,484.
(The numbers are made up - though close - but the % differences are the same)
I'm still within my window where I can return it, but let me ask the general wisdom of the board:
Did I overpay? I realize that's a bit subjective so I guess what I'm asking is, is this normal? I always feel like the replacement value which is probably for insurance purposes would probably OVERESTIMATE the price of the ring if anything. And additionally you can haggle with dealers (but maybe they inflate knowing you'll haggle). I'm trying not to parallel buying a ring with buying a car because cars (especially "options") are quite a bit overpriced compared to production costs.
Thanks for your input guys and gals!