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Engagement ring shopping/valuation
Posted on 4/21/16 at 2:23 pm
Posted on 4/21/16 at 2:23 pm
First of all, frick all you dudes paying several thousand dollars for engagement rings. If guys wouldn't pay it, the price wouldn't be so completely unreasonable.
Here's my breakdown of what should be the actual price of a decent engagement ring:
14k gold band (about 5 grams) = $120 scrap value. Add on $200 for time/cost/profit of making it into a nice setting.
Decent 1/2 carat diamond = $750 wholesale price
Jeweler time spent selling and putting together ring = ~4 hours @ $50/hr (guessing what their time is worth).
$320 band + $750 diamond + $200 labor = $1,270
Add in a reasonable profit of $750, and that brings the total price to $2,020. I'm not even going to get into the whole debate about a diamond's actual value, I'm basing this off the going diamond wholesale rate. If we want to be super real about this, a 1 carat cubic zirconia probably wholesales for $25 and those serve the same purpose as diamonds do with minimal difference.
I went to one shop today, and to get a ring with these specs would cost me ~$3,500. That's ridiculous! I'm not spending a dollar over $2,000.
Anyone have any advice on how not to get fricked in the arse when buying an engagement ring?
Here's my breakdown of what should be the actual price of a decent engagement ring:
14k gold band (about 5 grams) = $120 scrap value. Add on $200 for time/cost/profit of making it into a nice setting.
Decent 1/2 carat diamond = $750 wholesale price
Jeweler time spent selling and putting together ring = ~4 hours @ $50/hr (guessing what their time is worth).
$320 band + $750 diamond + $200 labor = $1,270
Add in a reasonable profit of $750, and that brings the total price to $2,020. I'm not even going to get into the whole debate about a diamond's actual value, I'm basing this off the going diamond wholesale rate. If we want to be super real about this, a 1 carat cubic zirconia probably wholesales for $25 and those serve the same purpose as diamonds do with minimal difference.
I went to one shop today, and to get a ring with these specs would cost me ~$3,500. That's ridiculous! I'm not spending a dollar over $2,000.
Anyone have any advice on how not to get fricked in the arse when buying an engagement ring?
This post was edited on 4/21/16 at 3:44 pm
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Posted on 4/21/16 at 2:24 pm to Jon Ham
Don't get married
Posted on 4/21/16 at 2:26 pm to Vols&Shaft83
50 cents and a steady hand to work the claw machine at WalMart should do the trick.
Posted on 4/21/16 at 2:27 pm to Jon Ham
quote:
First of all, frick you all dudes paying several thousand dollars for engagement rings. If guys wouldn't pay it, the price wouldn't be so completely unreasonable.
You will end up doing the same
quote:
I'm not even going to get into the whole debate about a diamond's actual value
A diamonds actual value is what people will pay for it. There is no debate.
Posted on 4/21/16 at 2:35 pm to Jon Ham
You just went through the process of estimating reasonable values to piecemeal a ring together and got $2,020, then said you aren't paying a dollar over $2K...
Posted on 4/21/16 at 2:42 pm to WG_Dawg
quote:
You just went through the process of estimating reasonable values to piecemeal a ring together and got $2,020, then said you aren't paying a dollar over $2K...
If the actual retail price should start around $2,020, I should be able to negotiate that down a little. Not to mention I personally don't think a 1/2 carat diamond is worth $750 retail or wholesale. I think their actual value should be closer to $150.
Posted on 4/21/16 at 2:44 pm to Jon Ham
Be friends with one of my best friends mom's who made an LLC with her sisters just so they could go to the World Trade Center in Dallas and buy diamonds on the cheap.
Posted on 4/21/16 at 2:45 pm to Jon Ham
I got what you described for about $1,800. They appraised it for $2,200. 0.52 carat diamond H color (near colorless), VSI1 clarity, and "excellent" cut (one below ideal). Set in 14k yellow gold.
Posted on 4/21/16 at 2:46 pm to Jon Ham
You could probably take your cheap arse to Zales or Kay in the mall and find yourself a $2,000 ring that will look like shite.
Again, you can probably find an ok looking diamond for less than that. You also mentioned that their time is around worth $50/hour. Go find a good local jeweler that is that cheap. My carpenter/painter doesn't even work for $50/hour.
quote:
Not to mention I personally don't think a 1/2 carat diamond is worth $750 retail or wholesale.
Again, you can probably find an ok looking diamond for less than that. You also mentioned that their time is around worth $50/hour. Go find a good local jeweler that is that cheap. My carpenter/painter doesn't even work for $50/hour.
This post was edited on 4/21/16 at 2:47 pm
Posted on 4/21/16 at 2:46 pm to Jon Ham
Find a jeweler who will make the ring to your specs. Acquire the gold and diamond at your best cost and supply them to said jeweler, paying him a fair rate for his artistry and labor.
Posted on 4/21/16 at 2:47 pm to Weagle25
quote:
A diamonds actual value is what people will pay for it. There is no debate.
You ever try to sell a diamond yourself? People aren't willing to pay you shite for your diamond as soon as you walk out of the shop. Diamonds do not appreciate, they aren't liquid, and the types we put on rings have no use other than aesthetics. They are of slightly higher quality than a cubic zirconia which costs about 90% less than a diamond of same size. It's a racket.
Posted on 4/21/16 at 2:49 pm to Jon Ham
Then don't buy it.
Posted on 4/21/16 at 2:52 pm to AllbyMyRelf
quote:
I got what you described for about $1,800. They appraised it for $2,200. 0.52 carat diamond H color (near colorless), VSI1 clarity, and "excellent" cut (one below ideal). Set in 14k yellow gold.
That's makes me feel a little better. I'll shop around. I'm guessing you purchased that in Mississippi? I live in the northeast which has a higher cost of living, so I expect the same ring to cost a little more but not ~$2k more.
Posted on 4/21/16 at 2:52 pm to Jon Ham
quote:
Anyone have any advice on how not to get fricked in the arse when buying an engagement ring?
Get with a chick that's not as hung up on a high-cost one.
Posted on 4/21/16 at 2:53 pm to stevengtiger
quote:
You could probably take your cheap arse to Zales or Kay in the mall and find yourself a $2,000 ring that will look like shite.
What would make it look like shite?
Posted on 4/21/16 at 2:54 pm to Jon Ham
No, I live in GA. They were expensive in MS when I looked there.
Stuff is expensive in MS because the supply is low and there's not a lot of competition.
Stuff is expensive in MS because the supply is low and there's not a lot of competition.
This post was edited on 4/21/16 at 2:56 pm
Posted on 4/21/16 at 2:54 pm to stevengtiger
quote:
My carpenter/painter doesn't even work for $50/hour.
Painter gets paid more than $50/hr? I'm in the wrong profession.
Posted on 4/21/16 at 2:55 pm to Jon Ham
quote:
quote:
A diamonds actual value is what people will pay for it. There is no debate.
You ever try to sell a diamond yourself? People aren't willing to pay you shite for your diamond as soon as you walk out of the shop. Diamonds do not appreciate, they aren't liquid, and the types we put on rings have no use other than aesthetics. They are of slightly higher quality than a cubic zirconia which costs about 90% less than a diamond of same size. It's a racket.
Again, a diamonds value is what people are willing to pay for it. Whether you think the reasons people pay more for a diamond are stupid or not has no bearing on the overall value of the diamond.
It does effect the value of the diamond to you.
But at the end of the day, we all know you'll cave and go the expensive route because most guys do.
Posted on 4/21/16 at 2:55 pm to Evolved Simian
quote:
Find a jeweler who will make the ring to your specs. Acquire the gold and diamond at your best cost and supply them to said jeweler, paying him a fair rate for his artistry and labor.
I like this idea and it hadn't crossed my mind. Thanks.
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