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    Buying a wedding ring.

    My wife's wedding ring was recently stolen. We filed a claim with our insurance and the check is in the mail. I have a friend who is getting divorced and she offered to sell her diamond to me to trade in. Has anyone ever done this? Would there be any benefit to me in cost savings on the trade?



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    Re: Buying a wedding ring.

    sketchy



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    Re: Buying a wedding ring.

    Are they from Kenya?



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    Re: Buying a wedding ring.

    I'm kind of surprised insurance indemnified anything unless it was a specified casualty in the insuring agreement.



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    Re: Buying a wedding ring.

    you would have to get it appraised and then low ball after the appraisal for it to do you any good. Unless you were planning on using her diamond, in which case you could buy it from her and have it mounted and probably save money.


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    Re: Buying a wedding ring.

    High markup when you buy, big depreciation when you sell. Similar to buying and trading in a car.
    Buy one that is visually appealing to your wife, don't go solely on the grades. Remember, there's a reason (maybe two) that investment grade diamonds never have a ring attached.



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    Re: Buying a wedding ring.

    Quote Originally Posted by IcSyU View Post
    I'm kind of surprised insurance indemnified anything unless it was a specified casualty in the insuring agreement.
    Wouldn't it probably be appraised before they insured it?



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    Re: Buying a wedding ring.

    Is your wife okay with this?

    I'm not phased by such things* but I don't know many women who share my opinions.

    Also, I would buy nothing unless I had it appraised. Ames Silversmithing ROCKS.

    * - I have a 'back-up' wedding band with no stones, that I wear when working in heavy equipment, traveling, etc. It came from a friend of mine from ISU that was divorced. It was his wedding band and I had it re-sized. Meh. It was the right price.


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  9. #9
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    Re: Buying a wedding ring.

    Quote Originally Posted by Sterling4Cy View Post
    My wife's wedding ring was recently stolen. We filed a claim with our insurance and the check is in the mail. I have a friend who is getting divorced and she offered to sell her diamond to me to trade in. Has anyone ever done this? Would there be any benefit to me in cost savings on the trade?
    It depends on the place...

    I know Joesphs in Des Moines will buy back your stone on a trade it for the same you paid initially.

    So if you bought a $1000 stone originally and later on you want to change it or upgrade for anniversary, supposedly that stone is still worth $1000 if you give it back and get something else.

    So if your friend sold it to you for $500 bucks and it was originally worth more, you'd be getting a decent deal if theres sych an arrangement where she got it. (Might want to have her "offically" trade the stone though.)



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