I'm a newbie here hoping to get some advice...
I bought an engagement ring from Tiffany about 2 years ago - a Round Brilliant with Channel-set Band. It was I, VS2 0.80ct for ~$8k. For some medical reasons of her family, I decided not to propose to her 2 years ago and have put the ring in the safe deposit box at my bank for the past 2 years.The ring is brand new, unworn and unadjusted, and I have all the certificates and documentation for the ring.
Now I'm planning to propose to her and I'm hoping to get a better Tiffany ring for her, something more than 1 ct. However, since the ring has been purchased for over 2 years, Tiffany would not take it back, unless it is for an "upgrade". My budget is to spend additional $5k or so on the ring, and I've considered the following:
1. Do the ring upgrade at Tiffany - Tiffany would let me upgrade the ring, but it has to be at least 2X of the original price, so the new ring needs to be about $16k, and the value of the old ring can be applied towards the new ring. However, for some reasons, when they valued my ring, although it is brand new, unworn and unadjusted, the value only comes back at about $6,700. I was expecting that it would be much closer to the ~$8k price that I paid 2 years ago. With that, I'll need to spend at least additional ~$9k ($16,000 - $6,700). Does the valuation sound reasonable from your experience? Also, from your experience, could exceptions be made to their 2X original price policy?
2. Sell the ring to a jeweler and purchase another ring at Tiffany - I've checked with a couple jewelers and it looks like the ring would only be bought back at ~$2,500 or so, since Tiffany has marked up the ring so much. Does this sound reasonable?
3. Sell the ring on eBay and purchase another ring at Tiffany - does anyone have any experience in this and how much do you think I can sell it for?
Tiffany's 1ct, I, VS2 rings are going at about $12k or so. If possible, the best thing to me would be for me to get back closer to ~$8k in value from the original ring, and spend additional $5k or so on the new ring. However, based on Tiffany's 2X original price policy and the low value of the ring, this doesn't look to be feasible. Any suggestions or advice would be much appreciated!!
Thanks!!
I bought an engagement ring from Tiffany about 2 years ago - a Round Brilliant with Channel-set Band. It was I, VS2 0.80ct for ~$8k. For some medical reasons of her family, I decided not to propose to her 2 years ago and have put the ring in the safe deposit box at my bank for the past 2 years.The ring is brand new, unworn and unadjusted, and I have all the certificates and documentation for the ring.
Now I'm planning to propose to her and I'm hoping to get a better Tiffany ring for her, something more than 1 ct. However, since the ring has been purchased for over 2 years, Tiffany would not take it back, unless it is for an "upgrade". My budget is to spend additional $5k or so on the ring, and I've considered the following:
1. Do the ring upgrade at Tiffany - Tiffany would let me upgrade the ring, but it has to be at least 2X of the original price, so the new ring needs to be about $16k, and the value of the old ring can be applied towards the new ring. However, for some reasons, when they valued my ring, although it is brand new, unworn and unadjusted, the value only comes back at about $6,700. I was expecting that it would be much closer to the ~$8k price that I paid 2 years ago. With that, I'll need to spend at least additional ~$9k ($16,000 - $6,700). Does the valuation sound reasonable from your experience? Also, from your experience, could exceptions be made to their 2X original price policy?
2. Sell the ring to a jeweler and purchase another ring at Tiffany - I've checked with a couple jewelers and it looks like the ring would only be bought back at ~$2,500 or so, since Tiffany has marked up the ring so much. Does this sound reasonable?
3. Sell the ring on eBay and purchase another ring at Tiffany - does anyone have any experience in this and how much do you think I can sell it for?
Tiffany's 1ct, I, VS2 rings are going at about $12k or so. If possible, the best thing to me would be for me to get back closer to ~$8k in value from the original ring, and spend additional $5k or so on the new ring. However, based on Tiffany's 2X original price policy and the low value of the ring, this doesn't look to be feasible. Any suggestions or advice would be much appreciated!!
Thanks!!