LJWorld.com / Happily ever after: Update your engagement ring

Archive for Tuesday, July 8, 2008

By Erin Hill - The Nest/Courtesy McClatchy Newspapers

July 8, 2008

Independent Jewelers Organization/AP Photo

A “Forever 10” solitaire diamond engagement ring is shown in this photo provided by Independent Jewelers Organization. It’s now the norm for a woman to influence what her engagement ring will look like, if not pick it out herself.

Trading in an engagement ring has become more popular than ever — from stone swapping to adding more bling to your existing ring. “The trend with young adults is that they’ll get a $10,000 ring, and a few years later, they’ll want it to be larger,” explains Debi Wexler of whiteflash.com. “It’s a way of showing their appreciation for the longevity of the relationship.”

Here are some reasons brides may choose to update their ring:

• Size: You love the shape of your diamond, but you came down with DSS (Diamond Shrinkage Syndrome). The more you look at it, the, uh, smaller it seems to get.

• Style: Your mate chose a pear-shaped cut in a gold setting, but you’ve always had your heart set on a princess cut in a platinum setting. Let’s face it: you’re not sporting “The Rachel” haircut anymore, right? Why not wear a ring that reflects your style?

• Stones: You’d love to add more stones to your original ring to amp up the sparkle.

• Setting: You were given an heirloom from one of your or his relatives that you want to reset or turn into a necklace or keepsake. Now you’d rather have a more modern, everyday ring that reflects your individuality and doesn’t feel like the old “family stone.”

Work with your original jeweler

Before you even think about upgrading your ring, find out what your jeweler’s policy is. It can vary: for example, whiteflash.com offers a lifetime policy on their branded diamonds, which allows you to trade them in for the full value you paid; Tacori applies a percentage of credit (usually around 75 percent) toward purchasing a new ring; and De Beers will upgrade your ring depending on an on-site appraisal of its current value.

Also, factor in setting costs. An upgrade from a 1.5-carat to a 2-carat won’t fit into your original setting, so you’ll need to get a new one, which will increase the price of your upgrade. You don’t have to toss the original setting, though; consider putting a colored stone in it for a right-hand ring.

Brush up on basics

Here are the top things to remember when you trade in your ring:

• Cut: Keep in mind that round and princess cuts are easier to upgrade than fancier cuts like radiant, pear or cushion.

• Quality: A higher-quality diamond is more likely to receive a higher upgrade value. Your diamond should be in the same condition as when you received it.

• Certification: Certified diamonds (AGS or GIA) are more easily upgraded than non-certified diamonds. Always ask to see the certification for the new diamond.

Get more bling for your buck

There are some sneaky ways to squeeze the most value out of your upgrade:

• Don’t round up: Going from a 1-carat to a 1.9-carat is cheaper than going to a 2-carat, but you can’t tell the difference visually.

• Skimp on clarity and color: You might assume that the four C’s are all of equal weight, but that’s not the case. Clarity and color aren’t as important as cut or carat when it comes to making a visible difference.

• Buy used or estate jewelry: Search for estate sales in your area and frequent the classified section of the newspaper for deals.

Weigh in the sentimental factor

Not willing to part with your original rock? Consider these options:

• Try a past, present and future ring: You can place the upgraded stone in the middle (which represents the present) and have two other smaller stones set on the outside (to represent the past and future).

• Reuse a portion of the ring: Take your original stone(s) and have them remounted as earrings or a pendant.

• Keep the original setting: If the size difference isn’t significant, you may still be able to replace the diamond without affecting your original setting.

• Add anniversary bands instead: If the idea of altering your diamond in any way leaves you uneasy, take a different route altogether by adding stackable diamond bands.

Insure your new ring

Whether you insured your first ring or not, now’s the time to cover your new assets:

• Get appraised: If you’ve added value to an existing ring or purchased a new one, you need a new appraisal (from a certified gemologist or your jeweler) in order to update your existing insurance policy.

• Secure a rider: Ring insurance is best purchased as an extension (typically referred to as a “rider”) to add on to your renters or homeowners policy. You must provide all your receipts and an appraisal.

Questions to ask:

• Is the ring covered if you lose it accidentally, or only if it’s stolen?

• How will the company replace the ring?

• Is the ring insured to its full value?

• How will you need to prove that the ring vanished if you make a claim.

Discussion

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8 July 2008 at 8:21 a.m.

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imagold (Anonymous) says…

This ranks right up there with returning gifts, unrealistic gift registries, requests for cash for homes and honeymoons, regifting and maybe my disdain for cyclists that don't obey traffic laws.
8 July 2008 at 8:43 a.m.

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Marion Lynn (Marion Lynn) says…

Nice free promo for the local jewellers and hype to get you to spend money on the worst investment on the planet; diamonds.

Diamonds are not rare.

Diamonds are not valuable.

Diamonds are the most controlled and price-manipulated product in the world.

Diamonds are not forever but the scam for them sure is!
8 July 2008 at 8:49 a.m.

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Multidisciplinary (Anonymous) says…

I imagine most brides would be more tickled if their husbands
1) got a job
2) paid off some credit card debt
3) spent less time viewing netpron

Besides, who needs a bigger ring..just makes the purse heavier when they go out with the girls.
;)
8 July 2008 at 8:52 a.m.

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bethlang1998 (Anonymous) says…

The only one of those reasons for “upgrading” the ring that I would support would be to change the setting. For instance, I had the diamond from the engagement ring my first husband gave me reset into our wedding set. Another reason would be if the rings no longer fit, in which case I could see getting the stones put in a necklace and getting something new if one didn't feel like simply getting the rings sized up (which can significantly change the look of some bands).

I could also understand having several wedding sets to change out your look (provided you can afford such a thing), given the variety of gems available. This is also a good idea when using more fragile stones like chrome diopside or tanzanite. With such gems, having sets to switch out saves wear and tear on the stones of any one set, whether they were used for accent or main stones.

But just because it's not shiny enough or big enough or “he didn't spend enough” - please. Women like that irritate the dickens out of me. I wanted to go over and wreck one woman's manicure-in-progress when I was in getting my nails done a few months back because she was talking like that.
8 July 2008 at 12:35 p.m.

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Pywacket (Anonymous) says…

Am I the only female on the planet who never wanted an engagement ring? I wanted—and got—a dog instead. Much better return for your money. Is a diamond happy to see you walk into the room? Will a diamond go walking with you at night and make you feel safer? When the husband is out of town, will the diamond guard the house? Will it fetch a tennis ball or play with your kids?

The diamond industry was built up and is maintained by the oppression, exploitation, and abuse of African people by Euro-thieves and corrupt puppet regimes. Read up on the heartbreaking trajectory of Sierra Leone's history since DeBeers began their obscene takeover in the 30s of a natural resource that had been one of the country's previous strengths. And that's just one example.

Sadly, we enjoy a lot of commodities that exact human suffering, and I realize that we can't boycott everything that is mined, grown, or manufactured in third-world countries. But the diamond industry is so corrupt, has had so direct a bearing on the decline of entire nations, and is so manipulative with their “diamonds are forever” taglines and smarmy TV commercials… And, unlike food and basic clothing, fancy rings are so unnecessary. For me, it was easy to decline one.
8 July 2008 at 3:13 p.m.

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Confrontation (Anonymous) says…

“It’s a way of showing their appreciation for the longevity of the relationship.”
This is such a joke! Of course, I guess having a marriage last 5 years is considered amazing today.
8 July 2008 at 3:34 p.m.

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rollcar (Anonymous) says…

Let me just say that if I ever purchased something as emotionally significant and carefully chosen as a wedding ring and the girl complained about it, she would not be receiving another one in the future, and would be lucky if she gets to keep the one she has.

Seriously, the article makes a $10,000 ring sound like a Cracker Jack prize. What's wrong with people?
8 July 2008 at 3:36 p.m.

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consumer1 (Anonymous) says…

What a load !! Could someone please flush the toilet this article stinks to high heaven. For those of you who believe this cr@p, I have some swamp land for sale really really cheap!!
8 July 2008 at 3:47 p.m.

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Multidisciplinary (Anonymous) says…

For more fun, watch the last episode of bridezilla and the next one.
The blond b–- that verbally abuses her fiance all the time, and others. She requested a platinum wedding band, plain she said.
He took her to a beautiful dinner, all the works. Gave her the band, and she starts shouting and belittling him, because she wanted it full of diamonds, and he got the 'plain' band.
And this man's response to the camera man after she stormed out was…It's better than being alone!

(Yes, I'm up too late when there is nothing but pd programming on, and this was the only show I could stand!)
9 July 2008 at 1:59 p.m.

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Pywacket (Anonymous) says…

MD~ You seriously need to buy some DVDs for those late nights when you can't sleep! I think I'd have to choke the TV with its own cord if it delivered up such a steaming load. It's so sad that there are men who put up with that, then there are women who put up with the equivalent. Wouldn't you love to just mess with the pairings and put the meek, kindly people together and turn the overbearing, controlling jerks on each other? Then everybody'd get their just desserts.

consumer1~ I'd take the swampland over the over-rated rock any day. Could maybe turn the swampland into a rare orchid nursery or something. Or just enjoy watching the swamp critters go about their business.