ring setting replacement

[coachgrd]

This is question that I realize is off the beaten path but I do know there is a wealth of knowledge on here and I'm hoping to get some feedback about some possible alternatives...

We have an anniversary coming up in August...14 years! My wife's engagement ring is on it's last legs. I'd like to have the stone removed and placed in another setting. What happens to the old setting (it's gold.) Do jewelers typically buy it from you? What might it be worth? Anything else I should know before I head out to do this?

Thanks...
Gary

 

[Chuck52]

Gary,

We did just what you are planning for my wife's birthday last year. Gold wasn't what it now is, but I still bet you'll find that the engagement ring weighs too little to make much difference. Our jeweler just gave us back the ring....I think he said it was worth just a few bucks. The good news was that the stone was a major part of the worth of the new ring. For just a couple hundred, she got a nice setting with some small chip diamonds on either side of the main stone, and the estimated value of the new ring was several hundred $$. I don't remember how much I paid for the original ring, but I bought the stone and then had it set because one of the guys in a class I was taking was related to all the jewelers in Knoxville, and he got me a bargain.

Chuck

 

[coachgrd]

Gary,

We did just what you are planning for my wife's birthday last year. Gold wasn't what it now is, but I still bet you'll find that the engagement ring weighs too little to make much difference. Our jeweler just gave us back the ring....I think he said it was worth just a few bucks. The good news was that the stone was a major part of the worth of the new ring. For just a couple hundred, she got a nice setting with some small chip diamonds on either side of the main stone, and the estimated value of the new ring was several hundred $$. I don't remember how much I paid for the original ring, but I bought the stone and then had it set because one of the guys in a class I was taking was related to all the jewelers in Knoxville, and he got me a bargain.

Chuck

Chuck...thanks for the reply. I was thinking that the ring probably wouldn't be worth much after the stone is removed. Glad to hear that I can get her into another setting for a reasonable price, I wasn't sure what to expect on that front.

Thanks again,
Gary

 

[dooleysm]

I wanted to get a piece of jewelry for my wife for Mother's Day with our newest son's birthstone. ANYTHING with gold in it is very expensive now. Be prepared for sticker shock. My wife doesn't wear alot of jewelry, so I don't spend alot of time in jewelry stores, but the prices on stuff I looked at were WAY higher than I remembered. I commented on this to the woman that was helping me. She acknowledged that the price of gold was seriously hurting their business.