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  • Mar 3rd, 2013 12:15 pm
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[OP]
Sr. Member
Sep 11, 2006
652 posts
53 upvotes

Ring appraisal

My sister had her engagement ring appraised about seven years ago. It was appraised at about $6000. So I was just wondering, is it worth reappraising today? I mean what it be worth a lot more today then it was worth seven years ago?
28 replies
Deal Addict
Apr 2, 2007
1382 posts
43 upvotes
Toronto
Short answer no. It costs about $150-300 for an appraisal.
At $600 its not worth it as that is the retail value of the ring and stone.

If say it was $6,000+ different story.
Deal Addict
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Dec 4, 2003
4711 posts
181 upvotes
DIrty-D wrote:
Feb 1st, 2013 7:50 pm
My sister had her engagement ring appraised about seven years ago. It was appraised at about $600. So I was just wondering, is it worth reappraising today? I mean what it be worth a lot more today then it was worth seven years ago?
What was your "sister's" reaction when she was told by the appraisers that her hubby gave her a $600 engagement ring?
Did she go apesh*t at her hubby? :|
Sr. Member
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Oct 8, 2005
784 posts
23 upvotes
gretzky99 wrote:
Feb 1st, 2013 8:10 pm
What was your "sister's" reaction when she was told by the appraisers that her hubby gave her a $600 engagement ring?
Did she go apesh*t at her hubby? :|
lol $600, about to drop that on a little valentines day jewellery gift...
Deal Addict
Apr 2, 2007
1382 posts
43 upvotes
Toronto
Some people don't want a $5K plus ring and use the money for other things.
Some don't have to funds back when the engagement happened.
Deal Addict
Jun 9, 2006
1544 posts
57 upvotes
Toronto
It's called affording within your means.

Not all engagement rings have to have a diamond either.

I think custom gold rings tend to be around $600-800 range, depending how much gold and what kind etc...

For actual worth, I always go by 30% of appraised value though :P
Deal Addict
Jun 3, 2009
3125 posts
311 upvotes
Montreal
Does your brother-in-law know he is one lucky SOB?

It's so much harder to find a not so materialistic girl nowadays.
Deal Addict
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May 24, 2006
1628 posts
94 upvotes
What's the purpose of getting an appraisal? To make herself feel better that it appreciate in value? I don't get the purpose of getting jewellery or anything appraised unless you have no idea what it's worth (say you inherited it or it was a gift), you are looking to sell it or buy insurance for it or person died and you need valuation for estate purpose. Since it was worth $600 7 years ago, she already know its worth (roughly), I hardly think buying insurance for it is logical and I assume it isn't for estate purpose.

If she is looking at sell it, it is probably worth $100-200 if you sell it to those "We buy your gold" stores, so hardly worth the appraisal's cost.
Deal Fanatic
Apr 15, 2004
5432 posts
66 upvotes
Toronto
Lol. I was going to say my ring's premium is worth more than your ring. $6k is worth appraising again at least to check it's still worth that much.
[OP]
Sr. Member
Sep 11, 2006
652 posts
53 upvotes
The reason Im asking is because she getting divorced and would like to sell the ring to help with lawyer fees. So she tried selling it on Kijiji and craigslist with no luck. She then took it back to the original store it was purchased from and they said they would put the ring on consignment or something.
They said she could pull the ring out anytime she wanted to, if she found a buyer on Kijiji or craigs etc, but that she would only have to pay $80 for the reappraisal. So they are essentially reappraising it at the same value it was worth 7 years ago. It doesnt make any sense that the ring would be worth exactly what it was worth 7 years ago so thats why I'm asking here.
Banned
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Jul 25, 2007
797 posts
42 upvotes
Richmond Hell
just get it reappraised elsewhere? if you find a higher appraisal show this to the store she got the ring from. I doubt it will be worth much more though but I'm not an expert. There are a few people on this forum who know their jewellery though
signature removed for being offensive
Deal Fanatic
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Sep 13, 2005
6775 posts
271 upvotes
Ottawa
Sorry to be the bad guy but you probably might just get half or less of what the appraisal value says. Appraisals are so inflated it's not funny. What she can get the ring for will depend what type of diamond it is and if it's high quality. I would get it re-appraised since gold/metal has gone way up the past few years and will change the value. A good idea as to what you'll get for your ring is expecting to recover half of what you paid for if you walk out of People's. If you get half the value then be happy. I would suggest she do the consignment, try kijiji, craig's list, any free local posting site.

Also, if you encounter an anal second hand jewellery buyer you'll need an appraisal from a reputable appraiser vs a shady as hell one. I would suggest you go to the reputable appraiser.

Good luck.
Deal Addict
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Jul 5, 2003
1089 posts
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When buying in the second hand market, no one really looks at the appraised value because they assume it is inflated. They look at the second hand market value. What are the specs of the stone?
[OP]
Sr. Member
Sep 11, 2006
652 posts
53 upvotes
It's a princess cut natural Canadian diamond.
Maple leaf diamonds
SI-2
0.70ct
Color is G
Cut is Very good
Appraised nov 2007 for $6600
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