engagement ring from blue nile

[fLum0x]

so, i just got my ring from blue nile today. It is absolutely georgous. Here is the question...

i paid less than $4,000 for the ring and i have a legal paper from a GIA graduate from Blue nile that appraised the ring for $7,100. Does this seem right? I am going to take it to another jewelry store and have it appraised, but that seems so odd to me that it is worth almost double what i paid for it.

also, for anyone curious, blue nile had great service and was very timely. The ring and diamond are both better than i expected. 9/10 in my book.

 

[captains]

gl

 

[moshquerade]

Originally posted by: fLum0x
so, i just got my ring from blue nile today. It is absolutely georgous. Here is the question...

i paid less than $4,000 for the ring and i have a legal paper from a GIA graduate from Blue nile that appraised the ring for $7,100. Does this seem right? I am going to take it to another jewelry store and have it appraised, but that seems so odd to me that it is worth almost double what i paid for it.

also, for anyone curious, blue nile had great service and was very timely. The ring and diamond are both better than i expected. 9/10 in my book.

let us know what the other jewelry store appraises it for.

and congrats.

are you just gonna pop the ring out and propose or do you have something more interesting and adventurous planned?

 

[glenn beck]

how do you know she doesn't look at this site at all????

 

[So]

Originally posted by: glenn beck
how do you know she doesn't look at this site at all????

He e-stalks her.

 

[slsmnaz]

Best of luck!

 

[DBL]

That's the way the industry works. Don't think you can actually sell the ring back for that price. For the most part, those appraisals are to make the buyer feel better about their purchase. Blue Nile has pretty decent prices.

I'd recommend getting an actual replacement value appraisal for use with insurance. Insurance will charge you a set price per 1K to insure the ring. Using the appraisal you were given will end up costing you more in insurance premiums. Since you are likely never to sell it, it's amusing that a lower appraisal will actually save you money in the long run.

 

[GuitarDaddy]

Congrats!

As for the appraisal value. Appraisal values are always BS and way over the market value, thats why places like the Gold and Silver exchange can advertized "Guranteed to appraise for double". IMO 1/2 the appraised value is usually a good indicator of the true market value.

 

[fLum0x]

Originally posted by: moshquerade

Originally posted by: fLum0x
so, i just got my ring from blue nile today. It is absolutely georgous. Here is the question...

i paid less than $4,000 for the ring and i have a legal paper from a GIA graduate from Blue nile that appraised the ring for $7,100. Does this seem right? I am going to take it to another jewelry store and have it appraised, but that seems so odd to me that it is worth almost double what i paid for it.

also, for anyone curious, blue nile had great service and was very timely. The ring and diamond are both better than i expected. 9/10 in my book.

let us know what the other jewelry store appraises it for.

and congrats.

are you just gonna pop the ring out and propose or do you have something more interesting and adventurous planned?

there is a whole process, but i didnt really want to explain it on here

it has something to do with taking her back to where we had our first date, then getting a new dress and shoes and wearing them to the nicest restaurant in town (IMO and hers). i made her a clock with walnut and zebra wood and the lid lifts off and the diamond box can fit inside...that is the cliffs.

 

[moshquerade]

Originally posted by: fLum0x

Originally posted by: moshquerade

Originally posted by: fLum0x
so, i just got my ring from blue nile today. It is absolutely georgous. Here is the question...

i paid less than $4,000 for the ring and i have a legal paper from a GIA graduate from Blue nile that appraised the ring for $7,100. Does this seem right? I am going to take it to another jewelry store and have it appraised, but that seems so odd to me that it is worth almost double what i paid for it.

also, for anyone curious, blue nile had great service and was very timely. The ring and diamond are both better than i expected. 9/10 in my book.

let us know what the other jewelry store appraises it for.

and congrats.

are you just gonna pop the ring out and propose or do you have something more interesting and adventurous planned?

there is a whole process, but i didnt really want to explain it on here

it has something to do with taking her back to where we had our first date, then getting a new dress and shoes and wearing them to the nicest restaurant in town (IMO and hers). i made her a clock with walnut and zebra wood and the lid lifts off and the diamond box can fit inside...that is the cliffs.

you bought her a new dress and shoes?!?!? :heart: x 100

 

[fLum0x]

Originally posted by: DBL
That's the way the industry works. Don't think you can actually sell the ring back for that price. For the most part, those appraisals are to make the buyer feel better about their purchase. Blue Nile has pretty decent prices.

I'd recommend getting an actual replacement value appraisal for use with insurance. Insurance will charge you a set price per 1K to insure the ring. Using the appraisal you were given will end up costing you more in insurance premiums. Since you are likely never to sell it, it's amusing that a lower appraisal will actually save you money in the long run.

oh, i totally agree. But i am confused, what companies would insure this kind of jewelry and what would the approximate insurance and time period look like dollar wise? (roughly)

 

[sixone]

Originally posted by: fLum0x
there is a whole process, but i didnt really want to explain it on here

it has something to do with taking her back to where we had our first date, then getting a new dress and shoes and wearing them to the nicest restaurant in town (IMO and hers). i made her a clock with walnut and zebra wood and the lid lifts off and the diamond box can fit inside...that is the cliffs.

Awwwww...how sweet.

 

[fLum0x]

Originally posted by: moshquerade

Originally posted by: fLum0x

Originally posted by: moshquerade

Originally posted by: fLum0x
so, i just got my ring from blue nile today. It is absolutely georgous. Here is the question...

i paid less than $4,000 for the ring and i have a legal paper from a GIA graduate from Blue nile that appraised the ring for $7,100. Does this seem right? I am going to take it to another jewelry store and have it appraised, but that seems so odd to me that it is worth almost double what i paid for it.

also, for anyone curious, blue nile had great service and was very timely. The ring and diamond are both better than i expected. 9/10 in my book.

let us know what the other jewelry store appraises it for.

and congrats.

are you just gonna pop the ring out and propose or do you have something more interesting and adventurous planned?

there is a whole process, but i didnt really want to explain it on here

it has something to do with taking her back to where we had our first date, then getting a new dress and shoes and wearing them to the nicest restaurant in town (IMO and hers). i made her a clock with walnut and zebra wood and the lid lifts off and the diamond box can fit inside...that is the cliffs.

you bought her a new dress and shoes?!?!? :heart: x 100

it is like a scavanger hunt, the hints take her to our first date place, then white house black market and she picks out the dress of her choice and they already have my credit card info. then she goes to dsw for shoes and then the restaurant

thank you btw

 

[sixone]

Originally posted by: DBL
That's the way the industry works. Don't think you can actually sell the ring back for that price. For the most part, those appraisals are to make the buyer feel better about their purchase. Blue Nile has pretty decent prices.

I'd recommend getting an actual replacement value appraisal for use with insurance. Insurance will charge you a set price per 1K to insure the ring. Using the appraisal you were given will end up costing you more in insurance premiums. Since you are likely never to sell it, it's amusing that a lower appraisal will actually save you money in the long run.

True. However, insurance will pay the appraised value, so think about how much you expect to get for it if you have to file a claim.

 

[DBL]

Originally posted by: fLum0x
there is a whole process, but i didnt really want to explain it on here

it has something to do with taking her back to where we had our first date, then getting a new dress and shoes and wearing them to the nicest restaurant in town (IMO and hers). i made her a clock with walnut and zebra wood and the lid lifts off and the diamond box can fit inside...that is the cliffs.

Be careful. Wearing that dress might overshadow the actual proposal.

 

[iamwiz82]

Originally posted by: fLum0x

Originally posted by: DBL
That's the way the industry works. Don't think you can actually sell the ring back for that price. For the most part, those appraisals are to make the buyer feel better about their purchase. Blue Nile has pretty decent prices.

I'd recommend getting an actual replacement value appraisal for use with insurance. Insurance will charge you a set price per 1K to insure the ring. Using the appraisal you were given will end up costing you more in insurance premiums. Since you are likely never to sell it, it's amusing that a lower appraisal will actually save you money in the long run.

oh, i totally agree. But i am confused, what companies would insure this kind of jewelry and what would the approximate insurance and time period look like dollar wise? (roughly)

The insurance company will insure it for the appraised price. I dunno how much we pay to insure Lola's ring of similar value.

 

[fLum0x]

i will see if i can find a host for some pictures of the ring/diamond and us after this weekend for you guys


i know, i know...no pics = ban

 

[DBL]

Originally posted by: sixone

Originally posted by: DBL
That's the way the industry works. Don't think you can actually sell the ring back for that price. For the most part, those appraisals are to make the buyer feel better about their purchase. Blue Nile has pretty decent prices.

I'd recommend getting an actual replacement value appraisal for use with insurance. Insurance will charge you a set price per 1K to insure the ring. Using the appraisal you were given will end up costing you more in insurance premiums. Since you are likely never to sell it, it's amusing that a lower appraisal will actually save you money in the long run.

True. However, insurance will pay the appraised value, so think about how much you expect to get for it if you have to file a claim.

If you want to pay higher insurance premiums so that you are able to purchase a bigger diamond if the 1st one is lost, be my guest. Seems like a waste to me. IMO, you should just have them tack on a little extra for the deduct able and perhaps taxes. Nothing more. It's going to sit in a drawer and gather dust.

 

[mugs]

Originally posted by: fLum0x
so, i just got my ring from blue nile today. It is absolutely georgous. Here is the question...

i paid less than $4,000 for the ring and i have a legal paper from a GIA graduate from Blue nile that appraised the ring for $7,100. Does this seem right? I am going to take it to another jewelry store and have it appraised, but that seems so odd to me that it is worth almost double what i paid for it.

also, for anyone curious, blue nile had great service and was very timely. The ring and diamond are both better than i expected. 9/10 in my book.

I paid a similar amount for a diamond from Blue Nile and it appraised for a similar amount at a local jewelry store.

 

[crystal]

Originally posted by: sixone

Originally posted by: DBL
That's the way the industry works. Don't think you can actually sell the ring back for that price. For the most part, those appraisals are to make the buyer feel better about their purchase. Blue Nile has pretty decent prices.

I'd recommend getting an actual replacement value appraisal for use with insurance. Insurance will charge you a set price per 1K to insure the ring. Using the appraisal you were given will end up costing you more in insurance premiums. Since you are likely never to sell it, it's amusing that a lower appraisal will actually save you money in the long run.

True. However, insurance will pay the appraised value, so think about how much you expect to get for it if you have to file a claim.

Yep. It is for insurance purposes. But then, higher the value higher the insurance. Double edge sword.

 

[fLum0x]

Originally posted by: DBL

Originally posted by: fLum0x
there is a whole process, but i didnt really want to explain it on here

it has something to do with taking her back to where we had our first date, then having her pick out a new dress and shoes and wearing them to the nicest restaurant in town (IMO and hers). i made her a clock with walnut and zebra wood and the lid lifts off and the diamond box can fit inside...that is the cliffs.

Be careful. Wearing that dress might overshadow the actual proposal.

haha...fixed.

 

[fLum0x]

Originally posted by: iamwiz82

Originally posted by: fLum0x

Originally posted by: DBL
That's the way the industry works. Don't think you can actually sell the ring back for that price. For the most part, those appraisals are to make the buyer feel better about their purchase. Blue Nile has pretty decent prices.

I'd recommend getting an actual replacement value appraisal for use with insurance. Insurance will charge you a set price per 1K to insure the ring. Using the appraisal you were given will end up costing you more in insurance premiums. Since you are likely never to sell it, it's amusing that a lower appraisal will actually save you money in the long run.

oh, i totally agree. But i am confused, what companies would insure this kind of jewelry and what would the approximate insurance and time period look like dollar wise? (roughly)

The insurance company will insure it for the appraised price. I dunno how much we pay to insure Lola's ring of similar value.

what is funny is that Lola already knows my proposal and all of this info. she gave me advice and said something about blue nile to me if i remember correctly.

i would be curious if you could get any insight...dont want to pry though.

 

[fLum0x]

Originally posted by: mugs

Originally posted by: fLum0x
so, i just got my ring from blue nile today. It is absolutely georgous. Here is the question...

i paid less than $4,000 for the ring and i have a legal paper from a GIA graduate from Blue nile that appraised the ring for $7,100. Does this seem right? I am going to take it to another jewelry store and have it appraised, but that seems so odd to me that it is worth almost double what i paid for it.

also, for anyone curious, blue nile had great service and was very timely. The ring and diamond are both better than i expected. 9/10 in my book.

I paid a similar amount for a diamond from Blue Nile and it appraised for a similar amount at a local jewelry store.

very good to know!! i think i am going to go to reis nichols or something and have it appraised. how long will this take?

 

[DBL]

Originally posted by: fLum0x

Originally posted by: DBL
That's the way the industry works. Don't think you can actually sell the ring back for that price. For the most part, those appraisals are to make the buyer feel better about their purchase. Blue Nile has pretty decent prices.

I'd recommend getting an actual replacement value appraisal for use with insurance. Insurance will charge you a set price per 1K to insure the ring. Using the appraisal you were given will end up costing you more in insurance premiums. Since you are likely never to sell it, it's amusing that a lower appraisal will actually save you money in the long run.

oh, i totally agree. But i am confused, what companies would insure this kind of jewelry and what would the approximate insurance and time period look like dollar wise? (roughly)

It's generally a rider tacked on to your homeowners or renters insurance. The price probably depends on your location, previous amount of business, etc. Figure between $20 - $50 per 1K/YR. IMO, it's pretty damn important. Otherwise, you are going to be very nervous.

 

[lokiju]

Damn I feel so lucky my wife doesn't like diamonds.

Thats some crazy $$.