Years ago my husband bought me a diamond tennis bracelet through a Gem Shopping channel on TV. It was 7 CTW of diamonds with 14k gold. They stated it was valued at $12,000 and we thought we were getting a bargain for only $2500. Once I received it, I took it to our local jewelry shop for an insurance appraisal and was told the value was $9000. Still a good deal I thought so I kept it. Problem was I rarely wore it as it was too flashy and not my style. Some years later I decided to sell it and after unsuccessful tries on Craigslist, I took it to a jewelry store that advertised it was buying diamonds and gold jewelry. I showed them the appraisal, the receipt from the sale and said I wanted the best deal they could give me.
What a shock when their best deal was $1500. I took it to another store and was offered even less. We ended up LOSING $1000 on the thing! The jeweler told me they pay $100 per carat or $10 a point for “used” diamonds (as if a used diamond meant anything!) and the 14k gold they paid was for scrap gold prices. The diamonds in the bracelet were appraised as SI2 - I1 in clarity and the color was G or H. What we schmoes pay them for these stones is usually $1000-$2000 PER carat. What they will buy them back for is 10% of the price we pay. The deal I have learned is that if you like a piece of jewelry, buy it and wear it and plan on handing it down when you’re gone because you will NEVER get back what you paid for it.
Yep. Marketing...
The deal I have learned is that if you like a piece of jewelry, buy it and wear it and plan on handing it down when you’re gone because you will NEVER get back what you paid for it.
I agree completely. Jewelry is the worst investment there is. If you want to make money, invest in art. I learned this watching Antiques Roadshow. LOL! (real estate is also a good investment)
Your mention of clarity and color reminded me of a TV show I saw many years ago. An undercover team had a diamond ring with a stone of remarkably good quality/clarity. They had an identifier laser etched onto one of the edges. They then had a “clueless” woman bring the ring in to various stores for a cleaning and to get the mounting worked on. In multiple instances, the diamond that was in the ring they picked up was not the same stone. It was of a lesser quality, sometimes by a significant margin. When called on it, all of them initially denied switching stones. When pressed and threatened with legal troubles, they agreed to switch it back.
Lots of shady dealings in the jewelry biz.