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Started By
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Friend has a ring appraised at 10K, what should they do?
Posted on 2/3/17 at 8:40 am
Posted on 2/3/17 at 8:40 am
Gold ring with diamonds. Should she hold it for a future "investment", or sell it?
And what should she expect to get if its appraised for 10k?
And what should she expect to get if its appraised for 10k?
9
Posted on 2/3/17 at 8:42 am to jeffsdad
If he sells it he will prob get $2500-3k for it.
Posted on 2/3/17 at 8:55 am to jeffsdad
Where did said ring come from? Generic jewelry isn't an investment.
Posted on 2/3/17 at 8:56 am to jeffsdad
10k appraised ring isn't special
Most diamond type things appraise 1.5-2x what yo buy them for. You can resell for 25% of what you purchase
Be lucky to get 1-2k for it
Most diamond type things appraise 1.5-2x what yo buy them for. You can resell for 25% of what you purchase
Be lucky to get 1-2k for it
This post was edited on 2/3/17 at 8:58 am
Posted on 2/3/17 at 9:25 am to BeerMoney
Family heirloom
Posted on 2/3/17 at 9:26 am to jeffsdad
quote:
Family heirloom
Keep it to pass down.
Posted on 2/3/17 at 10:00 am to LNCHBOX
quote:
Keep it to pass down.
yeah, why would she want to sell it if it were a family heirloom.
Posted on 2/3/17 at 10:53 am to jeffsdad
So what? Someone's wedding ring basically? Just keep it and pass it or if no attachment just shop around to try and sell it. Maybe sell it private party.
Posted on 2/3/17 at 11:18 am to jeffsdad
Take appraisal to insurance agent and insure it. then save it for a future female family member.
Posted on 2/3/17 at 4:08 pm to BeerMoney
Not a close family member. not a wedding ring. very pretty gold ring with diamonds.
Posted on 2/3/17 at 5:21 pm to jeffsdad
If someone offers her 2k sell it
Posted on 2/3/17 at 7:35 pm to jeffsdad
Ring appraisals are BS. I got engaged last spring. Ring appraised for 10k more than I paid. I'm tempted to tell the fiancé to lose it and I'll buy another one.
Posted on 2/3/17 at 7:51 pm to Motorboat
quote:
Take appraisal to insurance agent and insure it. then lose it in a boating accident
FIFY
Posted on 2/4/17 at 7:59 am to mule74
quote:
I'm tempted to tell the fiancé to lose it and I'll buy another one.
Make sure you have an articles policy or rider that covers it.
Most homeowner policies provide very little if any coverage for jewelry.
Posted on 2/4/17 at 8:07 am to jeffsdad
quote:1. Accept the fact that it's only worth $2,500 on the open market.
Friend has a ring appraised at 10K, what should they do?
90% of jewelry and art appraisals are grossly overstated.
Posted on 2/4/17 at 9:22 am to tigerpawl
Why is that jewelery is appraised at much higher value than the actual market value?
I insured my wife's engagement & wedding bands at invoice price bc if she loses them or they get stolen I can replace them. Isn't that the point of insurance?
I insured my wife's engagement & wedding bands at invoice price bc if she loses them or they get stolen I can replace them. Isn't that the point of insurance?
Posted on 2/4/17 at 11:08 am to jeffsdad
If she's short of cash, hock it and keep up the interest payments.
Don't sell it.
Don't sell it.
Posted on 2/4/17 at 4:57 pm to lilsnappa
quote:
Why is that jewelery is appraised at much higher value than the actual market value?
I assume because you would be shopping for potentially a specific replacement instead of shopping with an open mind that allows you to easily factor in price.
Posted on 2/5/17 at 9:49 am to Colonel Flagg
If she doesn't need the cash, a few folks I know in her situation, have melted it down and made other jewelry out of it. Something they really liked if they didn't care for the design. Diamond ear rings, a pendant, a nice brooch.
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