Jewellers lost heirloom engagement ring

sunnyflower88

Hello

I’m looking for a little advice.

A couple of weeks ago I took my ring to my local jewellers to get re-dipped & cleaned. This was something I had been putting off for a while as I couldn’t bring myself to trust anyone with my precious ring. Anyway, I was in the jewellers looking for something else and just bit the bullet and booked it in. Why shouldn’t I trust a reputable jewellers with 40 years experience? Family & friends had used their services over the years so I believed my ring was in very safe hands.

Fast forward two and a half weeks and I received the devastating telephone call that my priceless engagement ring has be ‘misplaced’ by the goldsmith (the jewellers hand deliver jewellery to a local goldsmith). I am told the goldsmith has been frantically looking for my ring but it has not been found. The jewellers were also mortified as they stated this hadn’t happened in 40 years. They have been using the goldsmith for 20 years.

A little history of my ring. My husband gave me my ring in June 2014. He had it made from
the diamond of a ring belonging to his late grandmother. This diamond was a 0.77 carat diamond. He had obtained a detailed valuation from the jewellers for insurance purposes and it was valued at £4500. But understandably we believe the value to be much higher due to sentimental reasons.

The jewellers have told us of course they can replace with something similar and have been given a copy of the valuation. They also stated that compensation for the loss of an item with such sentimental value will due. This could either be by cash or by the replacement of a more superior ring. My issue is how do we or the jewellers put a value on this? The ring that I receive in place of my lost ring will never be able to replace the original. 

What would you do? I’m unsure how to proceed.

Thank you so much in advance for reading and even more if you reply with any advice.

Aylesbury_Duck

sunnyflower88 said:

Hello

I’m looking for a little advice.

A couple of weeks ago I took my ring to my local jewellers to get re-dipped & cleaned. This was something I had been putting off for a while as I couldn’t bring myself to trust anyone with my precious ring. Anyway, I was in the jewellers looking for something else and just bit the bullet and booked it in. Why shouldn’t I trust a reputable jewellers with 40 years experience? Family & friends had used their services over the years so I believed my ring was in very safe hands.

Fast forward two and a half weeks and I received the devastating telephone call that my priceless engagement ring has be ‘misplaced’ by the goldsmith (the jewellers hand deliver jewellery to a local goldsmith). I am told the goldsmith has been frantically looking for my ring but it has not been found. The jewellers were also mortified as they stated this hadn’t happened in 40 years. They have been using the goldsmith for 20 years.

A little history of my ring. My husband gave me my ring in June 2014. He had it made from
the diamond of a ring belonging to his late grandmother. This diamond was a 0.77 carat diamond. He had obtained a detailed valuation from the jewellers for insurance purposes and it was valued at £4500. But understandably we believe the value to be much higher due to sentimental reasons.

The jewellers have told us of course they can replace with something similar and have been given a copy of the valuation. They also stated that compensation for the loss of an item with such sentimental value will due. This could either be by cash or by the replacement of a more superior ring. My issue is how do we or the jewellers put a value on this? The ring that I receive in place of my lost ring will never be able to replace the original. 

What would you do? I’m unsure how to proceed.

Thank you so much in advance for reading and even more if you reply with any advice.

The hard-nosed answer is that if it's worth £4,500 (was that a recent valuation, or one from 2014?) then that's all they have to provide.  That they've acknowledged the sentimental value and seem willing to do something to recognise that is helpful.  How do they put a value on that?  How long is a piece of string?  It will come down to offer/acceptance/negotiation.  As you say, the original cannot be adequately replaced, so to an extent the amount of compensation beyond the material value is meaningless. It's simultaneously priceless yet worthless if you see what I mean.

How much would you be happy with, above the £4,500 you are due for the material loss?  Have a think about that and then either go to them saying that's what you're looking for, or await their offer and consider it.  The only caution I'd advise is not to be too greedy because so far they seem to be dealing with it as best they can, and a greedy claim might cause them to be less amenable or withdraw their offer entirely and simply reimburse you for the value of the ring.

Brie

Them making something that would sell for £4500 (or other price with inflation) doesn't mean they are paying that as that would include mark up.  so it might cost them £1000 or 1750 or something.  If you are really unhappy with them then ask what they will pay for the sentimental compensation and say "great - I'll take that plus the £4500 all in cash".  (so maybe £5k?)

The alternative is to think of what your dream ring would be.  Something wonderfully you.  Something wildly modern or tragically retro. And ask for that.  It will become a new memory for you.  

When we were burgled 2 things that were taken (amongst the rest) was my grandmother's opal earrings and my mom's silver bracelet.  I think I had only worn the earrings when I was married and have never worn the bracelet.  I used the insurance money to buy a few absurd bits of jewelry including a marvelous yellow diamond ring.  It reminds me of the items and what happened.  And after the claim was settled the police surprised me with finding the items and returning them to me.  And the insurance company said the claim was closed so I could keep everything.  Win, win.  I've got 2 nieces so they'll be getting  all of it when I shuffle off.

tacpot12

Brie said:

Them making something that would sell for £4500 (or other price with inflation) doesn't mean they are paying that as that would include mark up.  so it might cost them £1000 or 1750 or something.  If you are really unhappy with them then ask what they will pay for the sentimental compensation and say "great - I'll take that plus the £4500 all in cash".  (so maybe £5k?)

The alternative is to think of what your dream ring would be.  Something wonderfully you.  Something wildly modern or tragically retro. And ask for that.  It will become a new memory for you.  

When we were burgled 2 things that were taken (amongst the rest) was my grandmother's opal earrings and my mom's silver bracelet.  I think I had only worn the earrings when I was married and have never worn the bracelet.  I used the insurance money to buy a few absurd bits of jewelry including a marvelous yellow diamond ring.  It reminds me of the items and what happened.  And after the claim was settled the police surprised me with finding the items and returning them to me.  And the insurance company said the claim was closed so I could keep everything.  Win, win.  I've got 2 nieces so they'll be getting  all of it when I shuffle off.

Great story Brie! I'm glad things worked out well for you. Your post should encourage the OP to have some hope that her ring might well be found at a later date. 

Sandtree

sunnyflower88 said:

A little history of my ring. My husband gave me my ring in June 2014. He had it made from
the diamond of a ring belonging to his late grandmother. This diamond was a 0.77 carat diamond. He had obtained a detailed valuation from the jewellers for insurance purposes and it was valued at £4500. 

So it was a heirloom stone not ring? Sound like the ring itself was new or a secondhand item he had the stone set into.

Generally sentimentality doesn't have a legal value. So if you can prove it was worth £4,500 then that's what it was worth plus any movements in value if that was a while ago... though was that £4,500 scrap, retail insurance or...? 

Firstly see what they offer and if you are happy with it. If you aren't then see what another jeweller says the ring is worth based on the valuation details. If their offer is more than this then take it, if its not then negotiate. From what it sounds like you will be getting more than you are entitled to in law.

Ergates

sunnyflower88 said:

My issue is how do we or the jewellers put a value on this? The ring that I receive in place of my lost ring will never be able to replace the original.

The short answer is, as you have already stated, that you can't.   Nothing the jewellers do will ever return the original.

The question to ask would be - what would most ameliorate your loss?   Obviously this is a very personal question, but for me from an emotional point of view, I think something like Brie did would probably be best - replace the ring with something unique - something that will forever be linked to the original.  

theoretica

The first thing, I think, is to be clear that you expect them to continue to search.  Both goldsmith and jewellers in case it didn't actually reach the goldsmith - and the vehicle etc. 

Pollycat

theoretica said:

The first thing, I think, is to be clear that you expect them to continue to search.  Both goldsmith and jewellers in case it didn't actually reach the goldsmith - and the vehicle etc. 

I think it's clear that the ring did reach the goldsmith. It was hand delivered. And the goldsmith wouldn't have rung today the ring was lost if he hadn't received it.

I would want that goldsmith's premises turned upside down and all the items awaiting work checked in case it had been put in the wrong place.

Olinda99

Such a sad story you must be so upset

If it were me I wpould not concentrate on the money but see if they can supply you with something meaningful to you that you can treasure going forward. 

theoretica

Pollycat said:

theoretica said:

The first thing, I think, is to be clear that you expect them to continue to search.  Both goldsmith and jewellers in case it didn't actually reach the goldsmith - and the vehicle etc. 

I think it's clear that the ring did reach the goldsmith. It was hand delivered. And the goldsmith wouldn't have rung today the ring was lost if he hadn't received it.

I would want that goldsmith's premises turned upside down and all the items awaiting work checked in case it had been put in the wrong place.

I would want that checked - if, for instance a box with several rings was delivered how good was the inventory and sign over.  When was it last definitely seen and not another ring mistaken for it? 

Pollycat

theoretica said:

Pollycat said:

theoretica said:

The first thing, I think, is to be clear that you expect them to continue to search.  Both goldsmith and jewellers in case it didn't actually reach the goldsmith - and the vehicle etc. 

I think it's clear that the ring did reach the goldsmith. It was hand delivered. And the goldsmith wouldn't have rung today the ring was lost if he hadn't received it.

I would want that goldsmith's premises turned upside down and all the items awaiting work checked in case it had been put in the wrong place.

I would want that checked - if, for instance a box with several rings was delivered how good was the inventory and sign over.  When was it last definitely seen and not another ring mistaken for it? 

If the ring didn't reach the goldsmith I'm sure he would have said something sooner rather than waiting 2 weeks.