worked with Signed Pieces?

[bootsiekin]

Hello everyone,

Have any of you bought/sold with Signed Pieces?

I had been thinking of upgrading my engagement ring (Tiffany, RB (.57C, F, VVS1) with 10RB in a bead-set band (.24tcw in the band).

Of course their upgrade policy is not all that great..though I found the ring I wanted to upgrade to on Signed Pieces (the same ring, but the ~1C variety). I emailed with the stats on my ring, thinking I could sell to them and put it towards the 1C. My ring was purchased just under 2 years ago from a Tiffany store and I have all the original paperwork, boxes, etc. They got back to me that it was worth $2500. I was really surprised, as this would be a depreciation of 67% in less than two years. Does what they offered me sound reasonable?

Thanks!

 

[stone-cold11]

Offer sounds reasonable given that a round cut, H&A, is priced about 2.5-3.3k, unless your setting is super fancy, it is quite good.

 

[decodelighted]

Would it make more sense to upgrade directly with Tiffany''s? Don''t they have a one time upgrade policy? A 67% loss seems like a lot to me ... but so much jewelry depreciates that I suppose its possible.

 

[bootsiekin]

Date: 6/19/2009 12:12:17 PM
Author: Stone-cold11
Offer sounds reasonable given that a round cut, H&A, is priced about 2.5-3.3k, unless your setting is super fancy, it is quite good.

Hi Stonecold,

I guess I just assumed it would be more due to the other 10 RBs (G-H, VS1-2). Also the setting is platinum and of course the Tiffany name. The original cost of the ring was almost $8k...

 

[bootsiekin]

Date: 6/19/2009 12:38:22 PM
Author: decodelighted
Would it make more sense to upgrade directly with Tiffany''s? Don''t they have a one time upgrade policy? A 67% loss seems like a lot to me ... but so much jewelry depreciates that I suppose its possible.

Hi deco,

They do have a one time upgrade..unfortunately it requires you to spend double what your original ring was bought for. For example, we would have to spend another $8k and end up with a $16k ring..when the one I actually want sells for around $10k (of course depending on the stats of the stone). I was considering the Signed Pieces one because they are selling it for around $7..but my ring only being worth 33% of what it was purchased for really shocks me. Especially since it is Tiffany I thought it would retain more value. (not that I''m a big Tiffany fan, thats just where DH decided to shop)

 

[stone-cold11]

It is common for diamonds to bought back for less than 50% of their selling price, sorry. Also, meleee''s are not worth that much anyway, depending on the size, can be as cheap as $10 I think. Which is why it is not that bad a price for the buy back. Maybe you can put on consignment? Then maybe you can get more than 50%.

 

[Lorelei]

The SP offer sounds reasonable, on the secondary market 30 - 50% is usual.

 

[bootsiekin]

Well, I did an estimate as best I know how..I found a similar stone selling on WF. Its also 0.57C, but a little lower on color and clarity at G, VVS2 priced at $2300: http://www.whiteflash.com/hearts_arrows/Whiteflash-ACA-cut-diamond-1467060.htm

The most similar setting they have to mine (in tcw and stats) sells for $1600: http://www.whiteflash.com/Engagement-Rings/Styles/Diamond-Settings/-Bead-Set--Diamond-Engagement-Ring_966.htm

Meaning I could create a pretty close non-Tiffany version for around $4000. I dont know if this is an accurate comparison or not...

 

[bootsiekin]

Date: 6/19/2009 2:17:58 PM
Author: Stone-cold11
It is common for diamonds to bought back for less than 50% of their selling price, sorry. Also, meleee''s are not worth that much anyway, depending on the size, can be as cheap as $10 I think. Which is why it is not that bad a price for the buy back. Maybe you can put on consignment? Then maybe you can get more than 50%.

Wow, that really is sad!

Thanks for the info, though.

 

[decodelighted]

Date: 6/19/2009 2:02:21 PM
Author: bootsiekin

Date: 6/19/2009 12:38:22 PM
Author: decodelighted
Would it make more sense to upgrade directly with Tiffany''s? Don''t they have a one time upgrade policy? A 67% loss seems like a lot to me ... but so much jewelry depreciates that I suppose its possible.

Hi deco,
They do have a one time upgrade..unfortunately it requires you to spend double what your original ring was bought for. For example, we would have to spend another $8k and end up with a $16k ring..when the one I actually want sells for around $10k (of course depending on the stats of the stone). I was considering the Signed Pieces one because they are selling it for around $7..but my ring only being worth 33% of what it was purchased for really shocks me. Especially since it is Tiffany I thought it would retain more value. (not that I''m a big Tiffany fan, thats just where DH decided to shop)

Wondering what the sizes of the Tiffany''s 10K one, the SP 7K one and the Tiffany 16K one are? At this point it looks like you can spend $4.5K & get a ring selling for 7K (SP) ... OR ... spend $8K & get a ring selling for $16K.(Tiffany) Its hard to judge based on just the amounts w/o knowing the sizes & stats.

You can check out "completed listings" on Ebay on Tiffany rings similar to your current ring & get an idea of how much they''re going for in private sales. Maybe its more than Signed Pieces is offering? Then you could sell the ring on your own & apply the $ toward the SP ring you want.

It might be tempting to me to stay in the Tiffany markup zone though -- getting "8K" worth of value toward the 16K Tiffany stone. Who knows, maybe you''d want that size eventually anyway? Diamond Shrinkage Syndrome is very contagious around here!

 

[stone-cold11]

ya, as you did you own calculation, a similar stone and setting can be bought for around 4k, not likely anyone will buy it for much more than that from a private party. The only selling point will be the Tiffany name.

 

[decodelighted]

In the completed ebay listings there is a Tiffany platinum .52 E VS1 with original cert that did not sell (buy it now price $2,650).

And a Tiffany .55 H VS1 princess in platinum that sold for $1980.

And a .62 I VVS1 that sold for $2,225

Just to give you some idea of private sale prices.