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Would you consider a used setting?

MissStepcut

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I asked this in RT, but got no responses...

I've been seeing tons of settings up for sale recently, on JbEG and listed through our new listing sub-forum. I've been pretty shocked by the prices, mostly because I'd always believed a setting that had been used was a gamble in terms of refurbish costs. Am I wrong? Is it easy to get prongs rebuilt, or put in a different size center stone? Has anyone had good or bad experiences?
 

Miss Sparkly

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Yes. But it seems like a lot of them on the bistro are overpriced. I would only pay up to 30% of retail myself.
 

MissStepcut

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Hmm. Well, I think a lot of things sold by private sellers are overpriced, but what really jarred me was the 14k setting on the bottom of this page for $4400:

http://jewelsbyericagrace.com/semimounts

It looks like the prongs have held a stone before... how much would it cost to have the prongs replaced? Is there a risk that they just couldn't be? do you not really have to replace them? Is the risk not really that different than any other time you have a bench setting a stone in a setting you've selected?
 

iheartscience

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I would, but not for $4k+, unless it was a designer setting I desperately wanted and that was a significant discount. I definitely wouldn't pay that much for a no name setting like the one you linked to on JBEG.
 

MissStepcut

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I've noticed what appears to me to be a trend of listing settings at prices that seem quite high to me. I wonder if it's to do with metal prices (though metal prices are softening)? Or maybe it's just a trend; jewelry owners in our insular little community started listing a couple at high prices, and other people jumped on the bandwagon?
 

zoebartlett

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I'm not sure how much settings go for typically, especially such an ornate one like the one you mentioned, MissStepcut. The price tag seems a bit high in my opinion though. In general, I think I'd consider a used setting if it was priced reasonably.
 

Rhea

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I would consider it for the right price.

My mother has a ring which needed to be retipped on the prong, they've worn down over time. On her plain tiffany style solitaire it'll cost $120 though a local jeweller. I could see how anything more than retipping could start adding up very quickly!
 

MissStepcut

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Addy|1317333361|3029075 said:
I would consider it for the right price.

My mother has a ring which needed to be retipped on the prong, they've worn down over time. On her plain tiffany style solitaire it'll cost $120 though a local jeweller. I could see how anything more than retipping could start adding up very quickly!
Ah, thank you for that anecdote. Sounds like re-tipping isn't a big expense.
 

Gypsy

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I'd totally buy one depending on the condition and make of it. Why not? The just has to be offered for right price and in the right condition. Just like buying anything else used.
 

MissStepcut

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Gypsy|1317333767|3029086 said:
I'd totally buy one depending on the condition and make of it. Why not? The just has to be offered for right price and in the right condition. Just like buying anything else used.
I guess my question is then, what would you consider the risks of a used setting to be, and how much price break would you expect to compensate for them?
 

Rhea

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MissStepcut|1317333575|3029079 said:
Addy|1317333361|3029075 said:
I would consider it for the right price.

My mother has a ring which needed to be retipped on the prong, they've worn down over time. On her plain tiffany style solitaire it'll cost $120 though a local jeweller. I could see how anything more than retipping could start adding up very quickly!
Ah, thank you for that anecdote. Sounds like re-tipping isn't a big expense.
I suppose I was thinking of it the other way. Some of the settings I see for sale need entirely new prongs, or mention it fitting a variety of stones. To me, the cost of the work would just add up very quickly. For a fancy setting at a discount, I'd consider it. For a simple setting that can be equal to or greater than the price of getting a new setting by the time the work is done.
 

Maisie

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I would consider a used setting but not at a silly price. I don't understand why someone would sell a used ring at almost the same price as a new one. Plus if the setting is a few years old it probably didn't cost anywhere near the price a new setting would cost today... so why push the price up?
 

MissStepcut

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Maisie|1317337951|3029144 said:
I would consider a used setting but not at a silly price. I don't understand why someone would sell a used ring at almost the same price as a new one. Plus if the setting is a few years old it probably didn't cost anywhere near the price a new setting would cost today... so why push the price up?
I understand why someone would sell it for the same price. No idea why someone would buy it ;-)
 

Mayk

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I would absolutely consider it for the right price...

I have recently seen a MM and a LM that if I were shopping for a e-ring... I would consider..at the right price....
 

jewelerman

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about 80% of my jewelry collection is per-owned,per-loved,or estate...by any name,when bought at the right time and location then you can get alot more bang and bling for your buck!example...i wanted a certain diamond ring where i worked but it had a $2,800 retail and cost from manufacturer was $800.00 for vs-g quality diamonds (the stores owner let us have jewelry at cost plus shipping charges)I decided to wait and about 2 years later i found the ring at a pawn shop i go to about once a month for $200! So like real estate... its location and price!You have to know your current market and your product so you benefit from buying per-owned.
 

jewelerman

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Maisie|1317337951|3029144 said:
I would consider a used setting but not at a silly price. I don't understand why someone would sell a used ring at almost the same price as a new one. Plus if the setting is a few years old it probably didn't cost anywhere near the price a new setting would cost today... so why push the price up?
The price is set higher because the owner expects that the buyer will want to negotiate a lower price and so the seller asks high and the buyer offers low and they hopefully will meet in the middle at a price that is much lower the retail. Its important that the buyer knows their retail and wholesale value on the piece they are interested in and if the piece is even genuine to begin with.Jewelry buyers have to be careful not to let emotion get in the way of the negotiation and should know when to walk away from the deal when the firm price for the piece is too high.
 

MichelleCarmen

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Sparkly Blonde|1317330865|3029028 said:
Yes. But it seems like a lot of them on the bistro are overpriced. I would only pay up to 30% of retail myself.
Yep, I've seen many overpriced settings. I don't think I'd buy a used setting b/c I'm into solitaires so I most likely could get a new one for close to the price of what many people are asking. There is something about knowing that the prongs on a preowned ring have been bent around that bothers me.

I had a pair of earrings I bought from eBay and the diamonds hadn't been set very well and I took the earrings in and the jeweler did the best he could do make them straight, but they never were quite right. He said it was b/c they were platinum and more difficult to work with.
 

Gypsy

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MissStepcut|1317333974|3029089 said:
Gypsy|1317333767|3029086 said:
I'd totally buy one depending on the condition and make of it. Why not? The just has to be offered for right price and in the right condition. Just like buying anything else used.
I guess my question is then, what would you consider the risks of a used setting to be, and how much price break would you expect to compensate for them?
Risk? What risk? I'd get the thing checked over thoroughly and completely and repaired before I stuck anything in it. Or I would stipulate that the seller discloses EVERYTHING else it's going back. Or I have a return policy. Shipping might be the only risk.

As for price. Well the more repair/issues the thing has the less I expect to pay.

If it's like new and exactly what I want... I'll pay more. If it's just something that caught my eye because it's a good price...then the price is key and I'll pay less.

But that's how I am with all preowned things. I can't say how much I expect to pay off retail... if it's something I ADORE and have been staring at for years ogling and I'm about to pull the trigger on in retail but all the sudden someone is selling theirs .. I might just be happy for a discount off retail.

If it's something I could live without... nope. Gonna need a substantial discount.

This doesn't apply to true antique and vintage items of course. The condition matters but so does the history so I'm willing to put up with repairs and so forth more than I would a regular fine jewelry item.
 
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