is jeweller or auction house right?

MrsTinks

if it looks to go for less than value you could always put a bid in...

tandraig

I was thinking of that actually MrsTine, if I can persuade my OH to part with that much cash..........I would LOVE to give that ring to my mother as my aunt always said it was my mums when she went - but against that is the ruddy will she left which as i said my mum is really hurt over (it wasnt the money as much as the venom it revealed)
what do I do peeps - have a word with the aunt who is dealing with solicitors (she is a bit naive and believes anything which people in authority tell her) and perhaps cause a row which means i cant be gobetween anymore? speak to the other aunt - who just leaves everything to aunt 1? speak to the other beneficiary - the charity - who prob couldnt care less as long as they get some money?
right now i am wondering if I should say nothing - but i know in my heart i will tell mum at some point and dont want her asking me why i didnt do anything!
arggh - I know i am not going to sleep again tonight! my emotions are so mixed
mostly I feel angry at my deceased aunt! she had no right to do this! and thats making it worse. my OH thinks I should keep quiet. he says its nothing to do with me - and right now I regret looking up the catalogue online!!!!
If it was YOUR mum - what would you do?

Errata

Charities are required to maximise their assets, so they need to be aware if an asset is wrongly described and valued at far less than its real worth.
eg a Picasso described as a Fred Bloggs and valued at 99p.

floss2

Aren't executors charged with getting the best value they can for an estate too?

tandraig

errata - I used to work for a charity, and to be honest, they wouldnt get involved in this situation. they are just grateful for the donation and dont really care how it comes about! or if anyone else gets shafted in the process!
if the jewellery had been left direct to the charity, then yes, they would be concerned and would look to maximise the return. as its the PROCEEDS from this auction and other matters - I think they wouldnt concern themselves as they only profit from the TOTAL of all the bequests and conditions.

tandraig

floss - the executors are the solicitors who drew up the will - and from what i gather - they are having themselves a nice little earner from all the letters and work to do with the estate! as i said - the will was nasty and the only ones who come out of this with the majority of the estate is in my opinion - the executors aka solicitors! and that is exactly how she wanted it! she even exempted the executors from any loss by selling her assets under value!!

Pollycat

Hi Tandraig

Reading your later posts, the issue is far deeper than the possible under-valuation of the ring by the auctioneers.

Re you buying the ring for your Mum, I can appreciate why you would want to do this but please do consider that your Mum may not want to own the ring in this way.
It could be that she would always look at it and it would bring back the sadness of your aunt's death and the way she was treated in the will.

You say that the ring should have been your Mum's but, as so often is the case, this didn't happen and you paying out money to 'make things right' might just make your Mum feel worse about the whole thing.

Going back to the issue of the ring and possible mis-description, I think that the term 'tinted' is actually used for natural coloured diamonds (aka 'fancies').

I've found a couple of websites that use this term for natual diamonds:
http://www.ajediam.com/fancy_color_diamonds.html
This one refers to "Natural fancy intense tinted, colored diamonds".

This one talks about diamonds in the colour range S through to Z being TINTED and visibly yellow to the naked eye.
http://health.learninginfo.org/diamond-ratings.htm

It also talks about irradiated or heat-treated diamonds which artifically enhance the colour. I'd be really concerned if the auction had described the diamond as one of these.

Although the auctioneers have put a £1500 price guide, it may actually go for more than the £3000 jeweller valuation.
Regardless of what a jeweller says an item is worth, it's only worth what one person decides to pay for it at a specific time.

Re speaking to your Aunts (I'm assuming there were 4 sisters - your Mum, Aunt 1 (dealing with the executors), Aunt 2, plus the deceased Aunt), only you can know what Aunt 1 is likely to do if you have a word with her.
From what you've said about the relationship between her & your Mum and you & her, as well as her believing that whatever the executors/solicitors say, I can't really see it doing any good.

right now i am wondering if I should say nothing - but i know in my heart i will tell mum at some point and dont want her asking me why i didnt do anything!

What exactly does your Mum know or not know about the situation?

Good luck with this, it's an awful situation to be in and I really feel for your poor Mum.

tandraig

thanks pollycat - I had come to the same conclusion regarding the ring - and it wouldnt be fair on my OH to ask him to buy a ring worth that much for my mother. You are right in that she prob wouldnt even want it now!
mum was a bit puzzled at the discrepancy between the jewellers and auctioneers valuations - I did say to her that its prob a come and get me pricing - which as she watches those bargain hunt and cash in t attic shows she readily accepted.....it was curiosity which made me look up the auction online!
Ive discussed this with my kids and we all feel that say nothing may be the wisest course.
It really isnt my business anyway is it?
but thanks everyone - tbh I did sleep better last night, It was rather comforting to know that you have taken the time to advise and wish us well.