Can an engagement ring jump in price?

charliesanchez

Hi all, this is my first post as I'm a little concerned about a ring I bought yesterday.

I bought an engagement ring yesterday and as I was collecting it from the store a strange thing happened.

I purchased a 2ct three stone (1/0.5/0.5) emerald cut ring on platinum from Diamonds Factory, which has good reviews and looks trustworthy.

I paid £4,750 (about $9000 I guess) for the ring, which is SI and F-G coloured.

Anyway, I went to collect it and asked them how much it would cost to improve the clarity. They went to ring's page on their shop page (design DFTHSR020)

And my exact ring now costs £7,500! It's gone up by nearly £3000 in the space of a month.

Is this even possible?

They said how lucky I was to buy when I did, but this seems too good to be true?

It doesn't really bother me as I paid already but it's causing me an insurance headache.

Diamonds Factory claim the ring I bought at £4,750 was worth about £8000 retail but given the price rise, they've given me a new valuation for my ring of £13,000.

Does it seem possible that I've paid £4,750 for a ring worth £13,000? Seems implausibly lucky...

Has anyone experienced something like this? I've read that Blue Nile's valuations are always too high, does Diamonds Factory have a similar reputation? Should I get it revalued? I don't want to be paying over the odds for insuring a ring that's not worth £13,000.

Thanks for any help, feedback.
Charlie

Relocationrelocation

Get it valued with a registered/reputable jewellers (if you live anywhere near London i'd suggest Michael Rose in Burlington Arcade or one of the many places on Hatton Garden). The price of metals does fluctuate but that sounds a bit odd for the price to increase that much.