At first you think your eyes are playing tricks on you and then you look again. It's true. Your diamond engagement ring is missing the diamond. You start to panic and then you remember you have a five year guarantee that came with your ring. You call your jeweler who tells you to come in as soon as you can, to get it fixed. You then call your fiance and the two of you marvel at your good decision to buy your ring from a reputable independent jeweler who guarantees all his high end diamond jewelry.
When people are in the market for an expensive piece of jewelry they will spend hours or even days comparing pricing and quality but few take the time to compare guarantees. It's an unfortunate oversight as the above situation is all too common. This is what you should look for in a diamond jewelery guarantee.
1. Reputation
Is the store that is offering the guarantee reputable? Has it been in business for a number of years? A ten year guarantee is meaningless if the jewelry store goes out of business in six months.
2. Length of guarantee.
Six months is too short, any inherent defects in the setting may not be apparent yet, especially if you tend to be easy on your jewelry or don't wear the piece often. Three to five years is the norm.
3. Validity
Does the guarantee require regular check ups to keep the guarantee valid? A reasonable time period is every six months. The jeweler will check the setting and make sure the claws and the setting are strong and secure. Be prepared to leave your jewelry as he may find a repair that needs to be made in order to keep your diamond(s) secure. This is also a good time to get a good cleaning done and a ring sizing if necessary.
4. Repairs
Are any repairs needed done free of charge? They should be. If not, ask for a price list and factor in the additional charges to the price of the ring. Claws on a ring generally need to be retipped every two years. More often for a bracelet and less often for a pendant.
5. Replacement
Does the guarantee ensure replacement quality is equal to the original and does it come with a detailed description of your piece? If you do lose a large diamond of high quality you will want it replaced with one of the same quality.
6. Upgrades
A lot of diamond guarantees also come with a value guarantee. This means that if you wish to upgrade to a larger diamond the jeweler will give you what you paid for, for the original piece.
7. Legitimacy
Does the guarantee look legitimate? It should explain all the details above, the jewelery store's policies and it should be signed.
8. Extended warranties
Can you extend the guarantee for a price? It is usually worth it to extend the guarantee if this option is available, especially if repairs are included free of charge. Generally the cost of the extension is equal or less than the cost of claw retipping, ring shank rebuilds, sizing, etc.
Finally, read the fine print. Make sure that what the salesperson is telling you about your guarantee is what it actually says on the paper. Jewelry is meant to be worn and enjoyed. Keeping it locked up in a jewelery box or a vault because of the worry of damaging it is such a shame. So do your homework, get a guarantee from a jeweller you trust and then relax and show off those beautiful pieces.
When people are in the market for an expensive piece of jewelry they will spend hours or even days comparing pricing and quality but few take the time to compare guarantees. It's an unfortunate oversight as the above situation is all too common. This is what you should look for in a diamond jewelery guarantee.
1. Reputation
Is the store that is offering the guarantee reputable? Has it been in business for a number of years? A ten year guarantee is meaningless if the jewelry store goes out of business in six months.
2. Length of guarantee.
Six months is too short, any inherent defects in the setting may not be apparent yet, especially if you tend to be easy on your jewelry or don't wear the piece often. Three to five years is the norm.
3. Validity
Does the guarantee require regular check ups to keep the guarantee valid? A reasonable time period is every six months. The jeweler will check the setting and make sure the claws and the setting are strong and secure. Be prepared to leave your jewelry as he may find a repair that needs to be made in order to keep your diamond(s) secure. This is also a good time to get a good cleaning done and a ring sizing if necessary.
4. Repairs
Are any repairs needed done free of charge? They should be. If not, ask for a price list and factor in the additional charges to the price of the ring. Claws on a ring generally need to be retipped every two years. More often for a bracelet and less often for a pendant.
5. Replacement
Does the guarantee ensure replacement quality is equal to the original and does it come with a detailed description of your piece? If you do lose a large diamond of high quality you will want it replaced with one of the same quality.
6. Upgrades
A lot of diamond guarantees also come with a value guarantee. This means that if you wish to upgrade to a larger diamond the jeweler will give you what you paid for, for the original piece.
7. Legitimacy
Does the guarantee look legitimate? It should explain all the details above, the jewelery store's policies and it should be signed.
8. Extended warranties
Can you extend the guarantee for a price? It is usually worth it to extend the guarantee if this option is available, especially if repairs are included free of charge. Generally the cost of the extension is equal or less than the cost of claw retipping, ring shank rebuilds, sizing, etc.
Finally, read the fine print. Make sure that what the salesperson is telling you about your guarantee is what it actually says on the paper. Jewelry is meant to be worn and enjoyed. Keeping it locked up in a jewelery box or a vault because of the worry of damaging it is such a shame. So do your homework, get a guarantee from a jeweller you trust and then relax and show off those beautiful pieces.
Note: All expensive jewelry should be insured through your homeowners or home renters insurance as well.
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