Questions on upgrading ring for 10 yr anniversary :)

[SocialExtreme]

Hi all
New here but been reading a bunch of posts. Great information from very helpful people! I'm looking to upgrade my wife's ring for our 10 year anniversary. I'm excited! I have some questions I'm hoping you folks can help with. As a quick background I bought the ring (wow just about a decade ago) from a jewelry store (chain)...dang wish I knew about these type forums back then! At any rate, I went back there as they have an upgrade program. They are offering to give me credit for exactly what I bought the diamond for, however holy hell were they expensive on the diamonds they were oh so happy to show me.

So comes a few questions:

1) If I go elsewhere to try their "buy back" programs, what can I expect (roughly) in terms of how much lower they would typically buy a diamond for? 10%? 20%? more?

2) The original diamond came with an IGI report. Could others recommend a trusted shop that would look into buying back a diamond with an IGI report?

3) Any other options I should look into? Or is my only best bet to go back to the original store and suck it up by purchasing their higher priced diamonds?

I'm also located in Los Angeles however willing to buy online from a reputable place.

Thanks all for your valued help.

 

[Gypsy]

1. Diamond prices have SOARED since 10 years ago. I BET they were willing to give you what you paid then! I would do that to, I'd make a mint. I'd shop around and see what others offer you for it, personally.

2. IGI isn't great. I'd stick to GIA or AGS. But it will cost you more.

 

[Dreamer_D]

Tell us the carat, color, clarity (fro mthe IGI report) of the diamond you have to trade, and the price you paid? My answer will depend a little on that.

 

[SocialExtreme]

1. Diamond prices have SOARED since 10 years ago. I BET they were willing to give you what you paid then! I would do that to, I'd make a mint. I'd shop around and see what others offer you for it, personally.

2. IGI isn't great. I'd stick to GIA or AGS. But it will cost you more.

Excellent point on #1! In regards to #2, I would like to purchase the next diamond with a GIA or AGS however my question is in regards to the original diamond which was IGI.

Thanks again.

 

[SocialExtreme]

Tell us the carat, color, clarity (fro mthe IGI report) of the diamond you have to trade, and the price you paid? My answer will depend a little on that.

Hi Dreamer -
OK from the IGI report:

Carat - .90

Color - G

Clarity - SI2

Price: $3300

Thanks for the help.

 

[Gypsy]

Okay so. That does make a difference. Good thing Dreamer asked those questions so... here's what I got for you. I think you probably paid too much 10 years ago. GIA stones with similar basic stats are going for 3700-4100 range NOW.

I wish you'd bought from Costco. They carry IGI. And they have a LIFETIME return policy on their stuff. So you would be able to get the money back and just start over with them.

 

[SocialExtreme]

Thank you for the response.

So do you think my only chance is to go back to the original place and get that credit or should I still shop around for offers?

Thanks
Again

 

[Gypsy]

What's the harm in shopping it? LA has a TON of diamond vendors. There's that whole Jewelry Building. I'd take a day and walk around. See if you get any takers for a trade. Then make sure the pricing they have on the upgrade stones is reasonable (Just use James Allen for pricing ballparks for GIA stones). Slightly higher is okay. Ridiculously so, not so much.

It's not just how much they give you. It's also how far that will go. So you have to check their pricing for what they are offering you for the upgrade stone.

 

[SocialExtreme]

Thanks...good point.

Does anyone have any recommended places they know of in Los Angeles that I should try out? This will at least help narrow the scope of work.

Thanks

 

[MissGotRocks]

Just don't go back to the original store. You will get full credit for another ring if you pay double but you'll end up with another IGI certed stone. That stone will be overpriced as well. Take what you can get for it toward an AGS/GIA certified stone. You will no doubt have to eat some of the loss but better to start from a 3k base than a 10k base like others have done.