Author Topic: Looking to buy new ring for 10 year wedding anniversary  (Read 5496 times)

Offline KangaDR

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Looking to buy new ring for 10 year wedding anniversary
« on: July 13, 2014, 06:48:50 PM »
Hi!

I have lurked your site for a few weeks now and I have to say...I am LOVING fancy diamonds! More specifically, the yellow and yellow/brown. With that said, I am very interested in replacing my current wedding set.

Six months ago, I went to have my engagement ring cleaned and rhodium-plated. Upon inspection, the jeweler discovered a large crack on the corner of my .63 princess cut center stone. I was devasted! He advised me to have it replaced immediately.  I contacted my insurance company and they informed me that they could replace it at equal (or slightly better than) specs. I never thought I'd upgrade or change my ring. After all, this is the ring he proposed with and we were married with. But now that the diamond needs to be replaced, I figured I would purchase a ring that better suits me and my personality. I have included a pic of the ring I am currently having a love affair with. However, I have a few questions:

1. Can I use the tiny accent/side diamonds from my current set to make the band and halo in this picture?

2. Can I use my current set as an exchange/upgrade towards the new ring?

3. Is is smarter to purchase the diamond seperatley from the setting?

4. Is it less expensive to buy an existing mount as opposed to designing my own with my own stones?

5. Are fancy diamonds merely the hot trend, or will they continue to hold their appeal/value?

Thank you!! I look forward to your response.

Offline oldmancoyote

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Re: Looking to buy new ring for 10 year wedding anniversary
« Reply #1 on: July 13, 2014, 07:18:34 PM »
Hi KangaDR, welcome to CDI!

Very quick answers to your questions:

1) Probably yes, but it's unlikely to be cost effective. Also, the halo seems to be pink.. which I take not to be the case with your current ring.

2) This is really a question that you want to ask David (the owner of DBL) when you discuss what you would like as a replacement, but in any case the majority of the value of your current ring is likely to be the centre stone, and now that is seriously damaged. Also, engagement/wedding rings have limited demand on the "second hand" market.

3) Yes and no. You shouldn't feel constrained to a specific pre-made ring, but at the same time, particularly with coloured diamonds (which are mostly not-round and not cut to standard proportions) it makes sense to have the setting made to fit at the same time as you purchase the centre stone.

4) Generally yes, but see 3) above. And a properly custom-made setting does not need to be hugely more expensive than a stock-made "standard" setting.

5) Heh. That's the $100,000,000 question. I just bought a couple of books on coloured diamonds from the mid/late 1990's and they refer to "the last couple of decades (1970's on) seeing a significant increase in the interest and prices of fancy colour diamonds". 20 years on, and the trend hasn't changed. Can it change tomorrow? Yes - in fact I'm surprised by the way in which prices have moved during the 2008-2010 recession. Will it change tomorrow? Unlikely; differently from colourless diamonds, true "fancy colour" diamonds are actually rare, not just exploiting commercial restrictions and a lot of marketing. However, predicting fashion is an impossible task, and any claim of rarity (which BTW applies to the best stones, not all!) is worthless in the absence of demand: my oil paintings are extremely rare, but no-one wants one even for free, never mind being willing to spend money for it.

Hope this helps - I'm going to sleep now, so further replies will come from others or in a few hours, but please post back if you want to continue the discussion/ask more questions.

Offline clgwli

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Re: Looking to buy new ring for 10 year wedding anniversary
« Reply #2 on: July 13, 2014, 07:42:38 PM »
Hi Kanga!

I sent you an e-mail about most of this.  I did want to say that you should always buy what you love whether it is a trend or not.  I'm a firm believer in that.  If you love a yellow diamond, then by one and love it for as long as you own it!

I wear a yellow on a daily basis and adore it.  I wear it because I love it - not because of any trends.
Elaine aka Squiggly
elaine@diamondsbylauren.com

Offline Diamondsbylauren

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Re: Looking to buy new ring for 10 year wedding anniversary
« Reply #3 on: July 14, 2014, 06:35:28 PM »
Hi!

I have lurked your site for a few weeks now and I have to say...I am LOVING fancy diamonds! More specifically, the yellow and yellow/brown. With that said, I am very interested in replacing my current wedding set.

Six months ago, I went to have my engagement ring cleaned and rhodium-plated. Upon inspection, the jeweler discovered a large crack on the corner of my .63 princess cut center stone. I was devasted! He advised me to have it replaced immediately.  I contacted my insurance company and they informed me that they could replace it at equal (or slightly better than) specs. I never thought I'd upgrade or change my ring. After all, this is the ring he proposed with and we were married with. But now that the diamond needs to be replaced, I figured I would purchase a ring that better suits me and my personality. I have included a pic of the ring I am currently having a love affair with. However, I have a few questions:

1. Can I use the tiny accent/side diamonds from my current set to make the band and halo in this picture?
Unfortunately, it's not practical to re-use melee stones- for many reasons. Mainly that the new ring you will make is unlikely to use the same number and size of stones. Also that the labor of removal will probably equal the value. And some may break.

2. Can I use my current set as an exchange/upgrade towards the new ring?
Diamonds by Lauren makes every effort to find fair ways of assisting people liquidate their jewelry.  For those who want to purchase something from our site, we make it pretty easy and painless.

3. Is is smarter to purchase the diamond seperatley from the setting?
IMO that's a definitely not, for consumers- particularly with fancy shaped or fancy colored diamonds. The ring has a huge impact on durability, and beauty. My advice is to find a seller that can provide both, and get a money back guarantee on both

4. Is it less expensive to buy an existing mount as opposed to designing my own with my own stones?
See the stuff about re-using pave stones In the case of a three stone ring, re-use is more feasible.

5. Are fancy diamonds merely the hot trend, or will they continue to hold their appeal/value?
Where did I put that crystal ball:). Seriously- Fancy Colored Diamonds have been popular for at lest as long as colorless diamonds- they are NOT a fad

Thank you!! I look forward to your response.
David
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Offline AkbarShah

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Re: Looking to buy new ring for 10 year wedding anniversary
« Reply #4 on: June 13, 2015, 10:11:56 PM »
I know that this isn't an actual topic anymore but anyway I'd like to add my opinion because the questions asked often pop up when it comes to replace diamonds.

What I did two time in the past:

When you have a serious damage: GO TWO A SMALL GOLDSMITH besides the shopping streets and malls. Look for a fancy place with friendly and helpful people. I suggest to look for a place with only 2 or 3 employees. This guys strive to help you in any case because they are really interested in building a long term relationship with you. Plus, they help you to save money. Sometimes things can be fixed with an affordable budget against money other estimations.

I could safe a lot of money that way in the past.

Moreover - before you agree to en expensive repair ask yourself and the pros is it worth to make the repair? How much is your diamond worth? Well, when it's an engagement ring it's priceless I know. But inherited jewelry without memories isn't sometimes worth to spend the money. Sell it, consign it and buy something else. 

Offline AkbarShah

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Re: Looking to buy new ring for 10 year wedding anniversary
« Reply #5 on: June 14, 2015, 06:51:11 PM »
I also found some very helpful information about ring setting http://www.redollar.com/the-old-man/ring-settings.html...
« Last Edit: June 14, 2015, 07:38:55 PM by AkbarShah »

Offline Diamondsbylauren

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Re: Looking to buy new ring for 10 year wedding anniversary
« Reply #6 on: June 15, 2015, 01:05:45 PM »
HI Akbar,
My experience is that experimenting with a bench is VERY risky, and potentially costly.
Once you've seen what a bench can do assigning tasks is much easier.
For example, some benches do wonderful bezel work, but the micro pave skills are not top rated.
We have already done this experimentation with ALL our benches.
For this reason, we strongly discourage our clients from letting anyone but us touch their rings.

The website you linked to did have general information- but honestly, general information is useless to a given specific diamond or ring.
Each particular stone or setting has it's own considerations.
David
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