Getting the best value on an Engagement Ring - overseas or second hand?

brbf

I've just started my search and I'm determined to get the best bang for my buck. Budget Max 3k - I've been looking around and many I like are way over budget. I read other posts about how the sale value after you've bought it is way way lower - and that you can get good deals if you buy used. A friend mentioned O'Reillys auctions - has anyone done this? Apparently you can get some really great stuff in there for a fraction of what you'd pay for in a shop.

The other option is going to somewhere like Dubai - I have friends there and have been several times, and I'm told its miles cheaper. However I'd want to know what I'm getting before I go.

Anyone got any advice?

Sam Kade

Buy one for 350 tell her it cost 3k that way you don't feel done and neither does she

Sam Kade

Sam Kade wrote: »

Buy one for 350 tell her it cost 3k that way you don't feel done and neither does she

Until she goes to insure it and you are shown to be a liar

brbf

brbf wrote: »

I've just started my search and I'm determined to get the best bang for my buck. Budget Max 3k - I've been looking around and many I like are way over budget. I read other posts about how the sale value after you've bought it is way way lower - and that you can get good deals if you buy used. A friend mentioned O'Reillys auctions - has anyone done this? Apparently you can get some really great stuff in there for a fraction of what you'd pay for in a shop.

The other option is going to somewhere like Dubai - I have friends there and have been several times, and I'm told its miles cheaper. However I'd want to know what I'm getting before I go.

Anyone got any advice?

Right,
If you go abroad to Dubai is that eating into your budget?

If you do go down the route of getting one made up you have to be sure of the quality before you come home.

Look up a good gemologist who is independent of your vendor. Make sure that on the day of purchase you can have the ring brought to them for appraisal.

newacc2015

I have never actually brought anything in O Reilly, but I have bid on stuff there. It various all the time on quality and quantity. Its always pretty good. There can be anything from €100k Diamond rings to a bashed up €100 9 k ring. I suggest you allow your finance to pick the ring,as with O Reilly, there will be no return. Unlike a jeweler who will let you change rings you arent mad on

I imagine O Reilly will give you a pretty good bang for your buck. But remember VAT + Commission on everything. I suggest you visit them about your concerns and questions. Auction houses are super friendly and nice. They wont be entirely fixated on selling you one thing with the highest commission, as they have fixed commission.

Sam Kade

Deleted User wrote: »

Until she goes to insure it and you are shown to be a liar

Insuring engagment rings, as if the ring isn't enough to waste money.

So you tell her that she is carrying several thousand euro on her finger and you expect her NOT to insure it?

Anything in your home contents that has a value of C.€2000 or more will need to be declared to the insurance company.
Once you declare a ring they will insist on a valuation being performed.

Sam Kade

Deleted User wrote: »

So you tell her that she is carrying several thousand euro on her finger and you expect her NOT to insure it?

Anything in your home contents that has a value of C.€2000 or more will need to be declared to the insurance company.
Once you declare a ring they will insist on a valuation being performed.

But that's only putting it in with the contents of the house.

drunkmonkey

Did you ask her yet, if not just get a temporary ring and take her somewhere like antwerp for a weekend where you'll save a fortune in the right place, there's a lot of wrong places there.
Tell her your budget, she might want a 6k ring and will throw in the rest herself. 6k antwerp would probably be 10k plus here.

sillysocks

We went to Dubai and would highly recommend it. Got the ring and the holiday for way less than the price of a similar ring here. And it was lovely to just have the few days away together to celebrate and enjoy the whole experience.
That was a few years ago but I'd imagine it's still a lot better value than here.
Flights are actually quite cheap at the moment.

newacc2015

sillysocks wrote: »

We went to Dubai and would highly recommend it. Got the ring and the holiday for way less than the price of a similar ring here. And it was lovely to just have the few days away together to celebrate and enjoy the whole experience.
That was a few years ago but I'd imagine it's still a lot better value than here.
Flights are actually quite cheap at the moment.

Dubai uses the UAE Dirham, which is pegged to the USD. The Euro has taken a hammering in the last 12 months. Meaning anything you could buy in Dubai, is about a third more expensive, than this time last year.

Toots

Sam Kade, please don't post in this thread again unless you have something helpful to add.

brbf

This looks interesting: www idonowidont com / buying - marketplace for selling and buying engagement rings. Good idea...

Seems to be some great deals and they are reputable, 8.8/10 on trustpilot

drunkmonkey

Bad idea unless you know how to spot a fake, diamond could have a cert that doesn't mean the diamond your looking at is the one in the cert. There's a million ways to get ripped off.
You need a trusted dealer, go look at a few properly and get a little education on them from an expert.
When buying, make sure you've studied your diamond and when they hand it back to you check it's got the same markings etc, or better still don't let it out of your sight once you choose it, go to the guy fixing the ring and watch over them, be on your guard for the auld switcharoo trick.

Millem

Hi OP,
O reilly auction rooms are great because you can view before hand. You could even get a ring with papers etc. There is a shop in Galway I can't remember the name.....it is something like "jewellery box" they also sell second hand stuff and some have papers.

I personally wouldn't like a second hand ring myself and €3k is a great budget
I researched the jewellery quarter in Birmingham and hatton gardens in London. I found any jewellers I contacted were very helpful....they even sent photos of rings on someone's hand for me!!!! Sterling rate is rubbish now though

We ended up buying my ring from thomas gear....it happened to be one I was eyeing up in hatton gardens. He came in cheaper on price and came with papers etc it is valued for a lot more than we paid.

We pretty much went to every jewellers in Dublin and depending on the style different ones were cheaper.
We found rocks were the cheapest for a halo setting but I didn't like the fact they had LOADS of each ring.
Martin gear was cheapest for 1carat solitaire. He only had one of each ring.
Thomas gear was cheapest for triology setting. He only had one of each ring when I got mine so it gets sized. This might have changed?
Weirs was the cheapest for a band with diamonds. They had lots of each ring.
There is another guy Patrick Glynn on Abbey street he is brilliant...he is beside arnotts car park.

Sterling is hammering Euro at the moment. Purchases in the UK (or even America) now are prohibitive

FastFullBack

I'd recommend this place http://www.e-jewels.ie/Home.aspx

ja1986

Sorry I'm not helping you but I need to show my boyfriend this post x your a gem

IrishAlice

You could get a really nice ring here within that budget and skip the cost of flying to Dubai.

My fiance and I got engaged in the states and when I went looking at rings there we weren't standing to make much of a saving because of the exchange rate.

In the end we decided to buy it in Ireland and I was happy with the fact that the jeweler is only 20 minutes away if any problems arise.

fits

If your main concern is the size of the stone, sure you can buy abroad but the travel costs money as well. I think there are some amazing jewellers in Ireland and you could get something really unique and special for your budget, and support local craftspeople to boot.

You might also get very good value in an auction but would have much less choice in the design.

beyondbelief67

If buying abroad at the moment be very careful.
I was in a jewellers getting an antique engagement ring cleaned that used to be my mothers and the lady who works in the shop was telling me how delighted she was that it was an old one due to the fact over the past few days she has had to tell 3 brides to be that their loved expensive new rings are virtually worthless.
Two of which were bought abroad, but she said without looking at them so closely and being in the business so long they would of fooled her too.
So just be very careful.

brbf

Thanks, yes I would be super careful if buying online or overseas, I would not do it without an independent valuation and certificate. Really I want the biggest rock I can get for the money - just without it being yellow or having big visible inclusions. I'm told to go for a H color or better. I've been looking on ebay and there are some interesting ones, from proper jewelers.

IrishAlice

brbf wrote: »

Thanks, yes I would be super careful if buying online or overseas, I would not do it without an independent valuation and certificate. Really I want the biggest rock I can get for the money - just without it being yellow or having big visible inclusions. I'm told to go for a H color or better. I've been looking on ebay and there are some interesting ones, from proper jewelers.

It's down to personal taste really but I'd choose a smaller better quality diamond any day of the week over a bigger poorer quality one.

Out of curiosity, what size stone are you hoping to get?

brbf

I appreciate that - as you say its a personal thing. For me - size matters. Not many people are going to go "Wow, look at the quality of that tiny diamond!" I'd be happier with an average quality diamond ( just not yellow or full of inclusions) but of a decent size. I'm hoping for 1 carat. There seem to be plenty of 1 ct diamonds on ebay and idonowidont. But I doubt you'd get 1 carat for 3k in a shop in Dublin. However, this is only the very beginning of my research, I'll be at this for months I'd say so I could very well change my mind!

beyondbelief67

As someone else suggested, try Hatton gardens in London if you can't find what you want there you won't find it anywhere, so much choice and experts wanting to help in all the stores on that street, and a few second hand stores too run by experts.

super_furry

Get in touch with Loyes Diamonds - https://loyesdiamonds.ie They offer such great value for money, will tailor the ring to exactly what you want and will easily save you 30% to 40% on the shop price. I got my fiancé's ring there and couldn't say enough good things about them.

IrishAlice

It might be worth your while trying perfectring.ie.

You can specify your budget and the size of diamond etc and it shows you rings from all different jewelers in Ireland.

Happy hunting!

Neyite

brbf wrote: »

I appreciate that - as you say its a personal thing. For me - size matters. Not many people are going to go "Wow, look at the quality of that tiny diamond!" I'd be happier with an average quality diamond ( just not yellow or full of inclusions) but of a decent size. I'm hoping for 1 carat.

I've highlighted the above - you are male, right? so the ring is not for you. It's for your girlfriend. Most guys shopping for a ring are focused on trying to get something that their girlfriend will like or which will suit her style. Have you taken that into consideration?

On a personal level I disagree with your view of size versus quality. I've seen plenty of big rings with dull lifeless stones that look like they are from a jewellery stand in Dunnes. They look like crap. The rings that I do admire and notice are the ones that have medium sized stones, of excellent, top class quality, and sparkle like mad even in the dullest of light. And I'm female and engaged so I tend to notice other women's rings all the time and compare them to mine.

brbf

I totally see your point - I'm not disagreeing. But I doubt most people have the eye for quality you do. Anyway its really not important what other people think - just me and my girlfriend and what we want. She's showed me what she likes so i have an idea.

I've just realised there are import duties to pay so buying from the US might not be an option. I'll check out the links posted above - thanks for these - and go shopping in a few stores. Will be interested to see whats the O'Reillys also. Thankfully I'm not in a rush I've got many months before I need to do anything..

IrishAlice

Neyite wrote: »

I've highlighted the above - you are male, right? so the ring is not for you. It's for your girlfriend. Most guys shopping for a ring are focused on trying to get something that their girlfriend will like or which will suit her style. Have you taken that into consideration?

On a personal level I disagree with your view of size versus quality. I've seen plenty of big rings with dull lifeless stones that look like they are from a jewellery stand in Dunnes. They look like crap. The rings that I do admire and notice are the ones that have medium sized stones, of excellent, top class quality, and sparkle like mad even in the dullest of light. And I'm female and engaged so I tend to notice other women's rings all the time and compare them to mine.

I totally agree. Before I got engaged it would have always been the size of the diamond that would catch my eye but after spending so long choosing my ring with my OH and learning all about the 4 c's I think the colour and a really good cut is more important.

What's the point in having a diamond if it doesn't sparkle

brbf

Fair enough! So what Colour & Clarity do you think I should be aiming for as a minimum to get something of good quality?

IrishAlice

brbf wrote: »

Fair enough! So what Colour & Clarity do you think I should be aiming for as a minimum to get something of good quality?

I'd go for between D & H on the colour scale, the closer to D the better.

You can get some really good quality diamonds that are SI1 or SI2 which cuts the cost a bit. You just have to make sure the inclusions aren't dark because then they'll be seen by the naked eye.

Also if the spread of the diamond is good it will look bigger than it's actual carat weight.

Most jewelers are great at explaining all of this and I'd highly recommend Bespoke Diamonds on Kildare St.

Halo rings are a good option if you want the wow factor of a bigger ring and would cost a lot less than buying a solitaire in a bigger size.

Neyite

Has she tried on a few here?

That might give you an idea of what size & style suits her hand. There is no obligation to buy. I always had a definite idea of what my ring would be like but when I went to try it, it didn't suit me at all. But I did find out what did suit me so it was just a matter then of finding that style in our budget.

I think my ring is the loveliest in the world. That's what you want her to think about hers.

westernlass

brbf wrote: »

I've just started my search and I'm determined to get the best bang for my buck. Budget Max 3k - I've been looking around and many I like are way over budget. I read other posts about how the sale value after you've bought it is way way lower - and that you can get good deals if you buy used. A friend mentioned O'Reillys auctions - has anyone done this? Apparently you can get some really great stuff in there for a fraction of what you'd pay for in a shop.

The other option is going to somewhere like Dubai - I have friends there and have been several times, and I'm told its miles cheaper. However I'd want to know what I'm getting before I go.

Anyone got any advice?

We bought with o reillys. Highly recommend.

brbf

westernlass wrote: »

We bought with o reillys. Highly recommend.

Thanks, can you tell me what it's like and what your experience was? I've never really been to an auction like this before. How much did you spend and what do you think you saved?

I see they a have a viewing from 30th of August so I may check that out. Do they have the catalog online?

thehouses

Try Voltaire Diamonds Dublin. They will make a ring to your specifications.

westernlass

brbf wrote: »

Thanks, can you tell me what it's like and what your experience was? I've never really been to an auction like this before. How much did you spend and what do you think you saved?

I see they a have a viewing from 30th of August so I may check that out. Do they have the catalog online?

Yes if the catalog isn't up yet then it should be a week before with photos. They'll all have a guideline price of what they expect them to reach. I know some months are better than others for value. The jewellers often visit and buy items to melt down or resell.

We were told by the auctioneer that the generally price you'll get an item at auction is between 33% - 50% of the retail price. You can go in the week before or the morning of the auction and try on rings. I went with my fiancee as that's what suited us but if you're surprising her that won't work.

There does tend to be more vintage jewellery at O' reillys which I wanted. I think if you search around there's different auctions will specialise in different product areas. Auctions are exciting but very nervy. We picked out four ones I liked and then went with that. You may not get the one you want if it goes too high so you need to have a back up plan. There's also a fee (I think 15%) on top for the auctioneers fees.

The other thing is they valued the ring for me for the insurance. It is illegal for any valuer to mis value an item for insurance which is a great built in system that protects the buyer. I found O' Reilly's very honest and easy to deal with. They gave me a week to pay the money and I ended up paying by card as I struggled to get over there to collect it.

My ring is worth 6.5k and we paid 1740e (approx as I don't have exact receipt in front of me) for it. We went in October and I know it was a very quiet one as the November and December ones are mental. The more people the higher the cost as more bidders. I wouldn't be afraid to hold off if you don't see something the first time, they always have good stock and the auctions are monthly.

brbf

Thanks that's really useful. The site is not great but I googled and found some (I think) listings from previous months - I can see they give basic details and a guide price. How accurate are the guide prices or are they just all over the place depending on the day? I think for 3k I wont get much in a shop but might get something great at auction.

I will however check out Voltaire diamonds as someone suggested above, i believe they are cheaper as they don't have a retail premises.

Are there any other places I should look? Other auction houses? Pawn shops lol?

westernlass

The guides are very accurate. The amount of people on the day tends to decide if it's the lower or higher end of the guide. I was very surprised how they are so organised and have it down to a tee so well.

You'll get a ring worth about 7k easily for 3k if not more. There are other auctions in Dublin I've heard that are good but we didn't need to go any further so I don't have names.

John Bretetons jewellers also sells second hand items but no idea of mark up on it.

Voltaire Diamonds: Seamus

Many thanks for the mention thehouses, really appreciate it.

brbf, we would be delighted to meet with you and show your our collection. If you have a very specific style, we can have the ring handmade in our workshop in Dublin. Due to our low overheads, our prices are significantly more competitive than the high street.

Please visit our Youtube page where you can see some of the styles we have made recently:

https://www.youtube.com/user/VoltaireDiamonds/videos?sort=dd&shelf_id=1&view=0

or visit our website at http://www.voltairediamonds.ie/

You can PM me here or if you prefer call the office directly.

Many thanks
Séamus