Trading in Old Ring?

[fiery07]

I just bought a 1.50 ct E SI2 loose diamond and need to have it set in a ring. I want to trade-in my previous wedding ring to be applied to the cost of the new setting. How do I know what my current ring is worth? It is a 0.3 ct H SI2 set in 14kt yellow gold with a small wrap. I know what we paid for it 8 years ago (about $1500 total) - would it increase in value or should I expect what we paid??? I am planning on taking it to the local jeweler who we bought it from in the first place (great service).

Also, should I insure the loose diamond before it''s set in case something happens during setting? Then get it reappraised after it''s set?

 

[belle]

the ring is ''worth'' what someone will pay for it. with the original price being only $1500 it isn''t worth putting more $$ into an appraisal to find out the ''value'' of it today. diamonds aren''t an investment and unless the jeweler gives you an inflated value (like trading in a car) you won''t get anything near what you paid for the ring. expect half at the most and be happy if you get more.

the jeweler should take responsibility for setting the loose diamond during setting. if he doesn''t, then you can consider insuring it. i think jewelers mutual is the only company that will insure a loose diamond.

best of luck!