I had an extremely disappointing experience here and want to share exactly what happened so other customers can make their own informed decision before bringing valuable jewelry or family heirlooms here.
I brought in a 14K yellow-gold diamond ring that has significant sentimental value to me because it belonged to my grandfather. The entire ring weighs approximately 5.20 grams. I have also had the stones tested, and I was told they are natural diamonds. Another jeweler previously estimated the ring at approximately 2 carats total diamond weight.
At this shop, I was offered only $300 for the ring.
What bothered me even more than the offer itself was the explanation I was given. I was told that gold was around $34 per gram. That immediately sounded extremely low to me, so I checked the current gold price myself. I then went back inside simply wanting clarification about how they arrived at that number.
There is a huge difference between saying, "Our store is willing to PAY $34 per gram," and representing $34 per gram as what the gold itself is currently worth. A business has every right to make whatever purchase offer it wants, and I have every right to decline it. My issue was with how the value was explained to me.
When I questioned the $34-per-gram statement, the explanation then changed. I was told, essentially, that he simply didn't like the ring or the stones. That made even less sense to me as an explanation of the underlying value. Whether a buyer personally likes the appearance of a ring is separate from the weight and purity of the gold, whether the diamonds are natural, their estimated carat weight and quality, and the amount the business is willing to pay.
I also received a substantially different estimate of the diamond carat weight here than I had previously been given elsewhere. Because of the conflicting information, I would strongly recommend that anyone selling jewelry--especially inherited jewelry--get multiple independent evaluations and not rely on a single buyer's estimate.
The interaction became even more surprising when I said I intended to leave a negative review based on my experience. I questioned the gold price I had been quoted and said that I believed the information was wrong. Instead of simply explaining the store's buying rate or allowing me to leave, the situation escalated to the point where the police were called.
I want to be very clear: my frustration was about the valuation and the information I was being given. I was not demanding that they purchase my ring for a particular amount. If a business doesn't want an item, that's completely fine. If they only want to offer $300, that's also their choice. I can simply decline the offer and take my property somewhere else.
But as a customer, I also have the right to question how an offer was calculated and to leave an honest review about my experience.
What I would have appreciated was something straightforward like: "The current melt value may be higher, but our business only pays $34 per gram because we need a margin," followed by an explanation of what value, if any, they were assigning to the natural diamonds. That would have been transparent and understandable.
Instead, I walked away feeling that I had received conflicting explanations and that a basic disagreement over the valuation was unnecessarily escalated.
My advice to anyone considering selling gold or diamond jewelry here--or anywhere--is simple: know the weight of your jewelry, verify the gold purity, check the current gold market price, understand the difference between melt value and a dealer's purchase price, have diamonds independently tested, and get multiple offers before selling.
I'm very glad I did not immediately accept the $300 offer.
This review reflects my personal experience and the statements made to me during my visit. I encourage anyone reading it to do their own research and make their own decision. read more
