I Do Now I Don’t is the featured site in an article on Bloomberg News! Titled “Diamonds Aren’t Forever When Couples Break Up, Cash Out on Web,” the article describes about how our sellers have turned heartache into cash. Or as we like to say don’t get mad break-even!
Aug. 11 (Bloomberg) — After 35-year-old mortgage broker Steven Sherman and his fiancee broke up last year, he kept the 1.7-carat diamond engagement ring he had bought for $8,000. The jeweler who sold it to him offered $2,800 to take it back…..view more
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I Do Now I Don’t is the featured site in an article on Bloomberg News! Titled “Diamonds Aren’t Forever When Couples Break Up, Cash Out on Web,” the article describes about how our sellers have turned heartache into cash. Or as we like to say don’t get mad break-even!
Aug. 11 (Bloomberg) — After 35-year-old mortgage broker Steven Sherman and his fiancee broke up last year, he kept the 1.7-carat diamond engagement ring he had bought for $8,000. The jeweler who sold it to him offered $2,800 to take it back…..view more
Share and Enjoy:These icons link to social bookmarking sites where readers can share and discover new web pages.
I just don’t know where to begin. I have be told different things about the value of the ring and why the depreciation ? How can something that does not loose value according to insurance companies fall in value to the J market. I am frustrated.
I would like to part with this but can wrap my head around this.
I know it’s frustrating and hard to understand. It’s important to know that appraisals are not used as a value base within the diamond trade at all. It is a tool for insurance companies.
There are many different reasons as to why the “value” of a diamond goes down when being resold. One of the main reasons is the mark up on diamonds. Most diamonds are marked up anywhere from 100 to 200 percent, depending on the store. If the store bought the diamonds back from customers, it would have to be at the wholesale price.
Other reasons could be from the wear and tear of the diamond ring, and even changes in styles or trends. All of these reasons factor in to the devaluation of the diamond.
August 26th, 2008 at 4:06 pm
I just don’t know where to begin. I have be told different things about the value of the ring and why the depreciation ? How can something that does not loose value according to insurance companies fall in value to the J market. I am frustrated.
I would like to part with this but can wrap my head around this.
Please help
jennifer
August 26th, 2008 at 6:29 pm
I know it’s frustrating and hard to understand. It’s important to know that appraisals are not used as a value base within the diamond trade at all. It is a tool for insurance companies.
There are many different reasons as to why the “value” of a diamond goes down when being resold. One of the main reasons is the mark up on diamonds. Most diamonds are marked up anywhere from 100 to 200 percent, depending on the store. If the store bought the diamonds back from customers, it would have to be at the wholesale price.
Other reasons could be from the wear and tear of the diamond ring, and even changes in styles or trends. All of these reasons factor in to the devaluation of the diamond.