Overpriced Setting?

[julchak]

Hey there,

I know what setting my girlfriend would like, however am unsure of the price/where to get it from.

It is this C. Gonshor setting which we found at Long's Jewelers.

We want it in her 14k Rose Gold.

I decided that to trim the price a bit we wouldn't need diamonds wrapping 3/4 as we won't see most of them on a size 5, so I requested that they only wrap 1/2 way. Also my center stone is a K, and the designer (Gonshor) told me on the phone that K melee stones would look good with that and help with the cost.

Long's quoted $3900 for this customized/trimmed down version...a "discounted" price of $3500 because my girlfriend works in healthcare...they would not go with K colored melees though.

I then was recommended to Diamond's Direct in VA from C. Gonshor themselves, as it is her preferred seller. They offered me $3,000.

This is great...except when I look at all settings around, $3,000 is A LOT (compared to what I see on WF for similar settings which are all $2,500 or closer to $2,000). Why is the C Gonshor so much more expensive? Does it carry with it a reputation which ups the value?

David Klass says he can do it for around $1750.

WHAT AM I MISSING HERE?!?!?

Do I tell the seller at Diamonds Direct that I can get a similar ring custom done for $1750 and see if he moves? Buying through them at least assures me that I am getting the exact ring from the designer who I spoke to myself.

Now, I can go with DK but am on a tight timeline (trying to have it in hand by 2/10), and it would be tight, plus if something is slightly off I'd have to send it back after the proposal which is less than ideal. His CAD looks VERY good and close to what I want. How is he able to do it for almost 50% what the store can do?

 

[musicloveranthony]

Brick and mortar stores have higher overhead due to everything from retail space to lighting it, to keeping it warm. They're always going to be more expensive for new products.

 

[whitewave]

Personally, I’d let David do it.

 

[mrsctobe]

I'd pick david to do it! From my personal experience with him I couldnt tell the difference between his and the real deal designer ring.

 

[julchak]

His initial CAD is nearly spot on, just don't think he can make my timeline. Trying to call him today to talk it over and see if I can pay a slight expedite to get it in time.

I've asked him to make it slightly thicker and have 8 melees (1st and last being slightly smaller) on each prong (as that is what it looked like the Gonshor had).

If I can get him to make it in time then I think I'll just go with him.

In terms of what the appraised value would be - would the Gonshor be appraised at a higher value? Or would they be the same because of the materials used being the same?

 

[musicloveranthony]

From what I have seen here recently, David has been having challenges completing work in a timely fashion and communicating the delays.

 

[lulu_ma]

You are also paying mark up for the 'brand name.'

 

[julchak]

So if I go to an appraiser would the value of the Gonshor ($3,000 setting) be the same/similar to that of DK's which is made with the same amount of material?

 

[whitewave]

search the archives for “appraisal”…never use the appraised value for insurance. Use what you paid.

 

[blingmeupscotty]

You could trim the price even further if you went lab diamonds on the side [not to send you down that worm hole though].

 

[julchak]

search the archives for “appraisal”…never use the appraised value for insurance. Use what you paid.

Fair enough, I just know that JM and Briteco require an appraisal for insurance, so would be worried that the Gonshor would come back at far less than what I'd pay.

 

[julchak]

You could trim the price even further if you went lab diamonds on the side [not to send you down that worm hole though].

Ha, well I was going to bite the bullet and just go with the jewelry store upselling me on Gonshor's at $3k...if I can have DK do it within my time frame for anywhere <$2k I'll take it (and keep the real stones). $1k in savings is massive for me (I spent $4.2k on the center stone from WF, I would prefer for it to be a larger % of the total price rather haha).

 

[Mreader]

Ha, well I was going to bite the bullet and just go with the jewelry store upselling me on Gonshor's at $3k...if I can have DK do it within my time frame for anywhere <$2k I'll take it (and keep the real stones). $1k in savings is massive for me (I spent $4.2k on the center stone from WF, I would prefer for it to be a larger % of the total price rather haha).

Have you told DK of your timeline?

 

[julchak]

Have you told DK of your timeline?

Yes, he said he could do it in 25 days...I'm assuming business days which puts me over. The Gonshor might make it in time for a 2/14 proposal (need it in hand by 2/10 to be safe really), though I need to get them to commit to that.

I'm seeing if I can get him on the phone or to answer an email quickly about what I can do to get it expedited (if I pay $2k over $1750 I'm fine with that if that means I'd get it in time - I'd be saving $1k still which is huge, and would have his support in the future with the ring).

If neither seller can guarantee a 2/10 delivery then it obviously makes sense to just go with DK and pick a different proposal date.

 

[julchak]

Is C. Gonshor a well known designer or something? I can't honestly find any information about her?

 

[lulu_ma]

Is C. Gonshor a well known designer or something? I can't honestly find any information about her?

Honestly I have never heard of that brand.

If DK can’t commit to that timeframe and you are in Boston, you can try calling Robert at Freedman Jewelers. I got all of my pre PS stuff through them. The guy they use to make their settings used to work for Tiffanys.

But I’m hoping that DK can meet your deadline as the CAD is already done!

 

[DejaWiz]

It may not be ideal, but you have the option of setting the diamond in a basic presentation style setting...and you could even include the DK CAD drawings as part of your proposal, if you think your intended would like to see them beforehand and maybe get involved to offer some feedback for any tweaks/changes before commissioning the work for the setting.
Just another option to throw in the hat.

 

[EClove]

Fair enough, I just know that JM and Briteco require an appraisal for insurance, so would be worried that the Gonshor would come back at far less than what I'd pay.

From what I understand you can just send receipts with specific specs if it’s a recent purchase. That’s what I did with Briteco and had no problems

 

[tyty333]

You dont want a too high (a ton higher than it actually cost or can be replaced for) appraisal value on your ring because you end up paying higher premiums for no reason. The insurance company is only going to pay out what the actual lower cost are to replace
your stone/setting.

I would go with @DejaWiz 's idea of putting your stone in a simple presentation setting from WF ($235) and then having it made by
DK after your proposal. You still save $1000 which is big in my book too...(could pay for the wedding band).

 

[julchak]

I was actually able to get on the phone with Amy at DK and she is totally on board with this! They will be able to get it for me with all the small changes and have it shipped, in my hands by 2/10!

I had shipped the center stone down to the other jeweler who I was going to have the Gonshor made through out on Saturday through USPS and couldn't catch it leaving Boston's main office this morning, but I've confirmed I can stop the shipment and have it returned to me. Needless to say I'm hitting the brakes on that, I've provided DK the AGS cert so they can start the build, and she will provide me an express FedEX label for me to quickly have it sent to them once I get the stone back.

So excited to be able to get the ring I want, in timeframe I need it, through DK and be able to save (now) over $1000. Shew, that money can be used for the band, or even our honeymoon haha, it's not small money for me (unfortunately haha).

 

[Kim N]

I was actually able to get on the phone with Amy at DK and she is totally on board with this! They will be able to get it for me with all the small changes and have it shipped, in my hands by 2/10!

I had shipped the center stone down to the other jeweler who I was going to have the Gonshor made through out on Saturday through USPS and couldn't catch it leaving Boston's main office this morning, but I've confirmed I can stop the shipment and have it returned to me. Needless to say I'm hitting the brakes on that, I've provided DK the AGS cert so they can start the build, and she will provide me an express FedEX label for me to quickly have it sent to them once I get the stone back.

So excited to be able to get the ring I want, in timeframe I need it, through DK and be able to save (now) over $1000. Shew, that money can be used for the band, or even our honeymoon haha, it's not small money for me (unfortunately haha).

That is fantastic news! DK's work is beautiful--so glad you can work with them. And if you have DK make the band too, they'll already have the CAD for the e-ring, so they can make sure the two rings fit together well.

 

[tyty333]

Excellent news @julchak !

 

[lovedogs]

YAY~ David's work will be on par (or better) than a designer setting which (in my opinion) is overpriced.

 

[mrsctobe]

David will actually create an appraisal if you ask for one but I would have him just write out the price that you paid for the ring --- it's actually a huge misconception that your appraisal being inflated is a GOOD thing, when in actuality all that does it cause your premiums per month to be much higher than they need to be.

 

[DejaWiz]

David will actually create an appraisal if you ask for one but I would have him just write out the price that you paid for the ring --- it's actually a huge misconception that your appraisal being inflated is a GOOD thing, when in actuality all that does it cause your premiums per month to be much higher than they need to be.

That, and it can be considered insurance fraud in most cases, if I understand correctly.

 

[Austina]

Great news!

On a side note, having recently had jewellery insured through JM, I had to download an app in order to upload side and top views of the rings, as well as sending them the appraisals (which also had photographs of the rings).

 

[Rfisher]

Congratulations on your valentines engagement -to -be!

If you are wanting to get a matching wedding band from DK and are particular in how they match (melee style, placement, setting, band height, band profile…..
Think about getting both done at the same time?
Otherwise the best course to achieve a true match to each other would be to send in the ER back to DK when you go back for the WB later.

If you get a different bench making the WB, you possibly will not get a matching outcome even if they do use your original cad (provide it for them, don't assume) without the ER in their possession for reference. It could happen even if it is the same bench.


I bring this up because it has happened to others before.

 

[julchak]

search the archives for “appraisal”…never use the appraised value for insurance. Use what you paid.

Hmm, okay. Is that because the appraised value is typically higher or lower? Strange that I've read some insurances requiring an official appraisal over a purchase receipt in order to set your premium/coverage.

David will actually create an appraisal if you ask for one but I would have him just write out the price that you paid for the ring --- it's actually a huge misconception that your appraisal being inflated is a GOOD thing, when in actuality all that does it cause your premiums per month to be much higher than they need to be.

Good to know I'll ask them about that! As far as the appraised value vs purchase cost - I would just want to be sure that whatever I am covered for would be enough to get a new ring if anything were to happen. If it is appraised at a higher value, and I am no longer able to get it through DK (if they close or something) down the road, then I'd think the appraised value would be the one to go by?

Great news!

On a side note, having recently had jewellery insured through JM, I had to download an app in order to upload side and top views of the rings, as well as sending them the appraisals (which also had photographs of the rings).

So I have the loose stone currently insured w/ JM. Not sure sure if I want to stick with them for the full complete ring or switch to Briteco. Any thoughts on your experience with JM so far?

Congratulations on your valentines engagement -to -be!

If you are wanting to get a matching wedding band from DK and are particular in how they match (melee style, placement, setting, band height, band profile…..
Think about getting both done at the same time?
Otherwise the best course to achieve a true match to each other would be to send in the ER back to DK when you go back for the WB later.

If you get a different bench making the WB, you possibly will not get a matching outcome even if they do use your original cad (provide it for them, don't assume) without the ER in their possession for reference. It could happen even if it is the same bench.


I bring this up because it has happened to others before.

Good to know! I want my future fiancé to be able to have her thoughts and image put into the WB, but I will mention to DK how we'll probably just want to go through them and use the same bench when we do to ensure things will match up (maybe I can get information on which bench was used, etc. to keep a note tucked away when it comes time to go back for the WB). I know my fiancé won't want to part with the ER to send it back, but we'll cross that bridge when we get there haha. Maybe a West Coast trip can happen and we can have some fun with it in person (depending on where we are with this pandemic at that point in time )


Thanks for all the feedback guys!

 

[Austina]

Honestly, I'm not impressed with JM, but they were the only company we could get to insure my jewellery. My appraisals were really in depth, with photographs, each component quantified, principal stone, additional stones, metal weight etc., and they still weren't satisfied. But I needed to get my jewellery insured once we moved here, so they were it.