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

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.

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.

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.