non pregnancy but need jewelry legal advice

Me

Megan
So we bought a platinum diamond ring 4 years ago when we got married. We paid 3,500 with an appraisal from the place giving cut, size, clarity. 4 years later we hit tough financial times and are selling it, each person we take it to says the diamond is smaller than the appraisal says and it's worth WAYYYY less than we bought it for. Most saying they will buy for 800 and sell for 1,500. Do we have any legal standing for the size discrepancy? Should we attempt a return with threat of further action or are we just shit out of luck? 😩
335 views • 0 upvotes • 16 comments

COMMENT (16)

Ka

Posted at
After 4 years it would be impossible to prove. In the future always get a second appraisal after a large purchase.

Am

Amelia 🇬🇧 • May 3, 2017
1/8th of a difference will make a big difference in price if it takes it from under 1 carat to a carat or over.

Ka

Kacie • May 3, 2017
1/8th of a difference probably doesn't make a huge difference in price. You are always going to get way less when you pawn something

Me

Megan • May 3, 2017
😭😩 so much money

Ca

Posted at
You are just SOL. For 1 it's been 4 years and they don't have to give you full value or give a refund at all. Most places won't. 2 unless you have the documentation from when you purchased the ring(s) then there is nothing you can do. I understand hard times but you can't do anything legally and either you will have to settle for what they give you or go home and figure something else out. 

Ca

Callie • May 3, 2017
Plus the value of diamonds and gold are not at a high right now and aren't worth as much so that's a factor that's into play as well.

Ra

Posted at
Their argument could bethat after 4 years, you could've switched the diamond out yourself. How much of a discrepancy is there?  (I'm definitely not saying you've done that though)

Ra

Ra • May 3, 2017
It's the karat weight. Meaning it's 7/8 a karat or almost a whole karat.

Me

Megan • May 3, 2017
I totally see that. I mostly just want to return it and get my money back. I don't know jewelry terms and what it all means but they told us it was 7/8 and its 6/8.,.im guessing that's inches? Ugh just sick over it

Am

Posted at
Is the diamond certified? An appraisal is different to certification. If they said they certified the diamond and they were inaccurate then you can definitely take it up with them or even sue. But if they just gave you an appraisal that turns out to be wrong then it's more your own fault for not knowing or learning what you should be getting for your money, which it sounds like they knew and took advantage. Always buy a certified diamond with a certificate and get it checked if you can't check it yourself. 

Am

Amelia 🇬🇧 • May 4, 2017
Any diamond can be certified at any time. They deffo bullshit you!! You should sell the ring on eBay/etsy to get the most money out of it. Pawn places will rip you off too! People pay more for vintage so play on that when you put an add up.

Me

Megan • May 4, 2017
I believe they told us it didn't have a certificate bc it is vintage 1920s

Me

Posted at
Thanks ladies. I think we just have to try to sell other stuff to help pay the bills. We were hoping to get at least 1/4 of what we spent but it's just not happening and looks like it's our fault for not purchasing smart. 😩 pray/send good vibes for my family 

Me

Megan • May 4, 2017
We got 2 more appraisals and were told clarity and color are both off by 1 grade as well. I'm furious a flooding into my states laws on diamond over grading and a consumers rights. Ugh this was supposed to be an investment we could use if we needed to. So angry. a

Ka

Posted at
You will never get what you purchased jewelry for from the same jeweler or another jeweler. I'm sorry you are having a hard time right now but you'll have to take what you can get for it in most cases. The only way you could is an upgrade where say you spent 4000.00 for that ring you could trade it for a ring that costs 8000 and only pay the 4000 difference. Make sense? Cash value will never be able to match what you paid for it 

Me

Megan • May 3, 2017
Yeah we knew we wouldn't get what we spent. We spent almost 4K and are getting quoted 500 by everyone we try to sell too. Seems like a huge gap but when it comes down to it we just didn't purchase smart so we are kinda screwed 😕