Engagement Ring Advice

**MooseBucks** · 03-24-2017, 05:15 AM

Originally posted by pflyers85 View Post

So I will be popping the question within the next month or two and I have narrowed down my choice of rings. I am not planning on spending more than $2500 because that is what I can afford without financing. I was wondering peoples thoughts on these extended warranty plans that many of the big box jewelers offer. My first thought was it was just an easy way for them to ensure they get an extra $200 from me. Are they really worth it? How much do they really charge for services without that warranty? If the services are nominal I would just prefer to pay cash if and when it would come to that.

Extended warranty on an engagement ring? What does it cover? I wouldn't pay $200 on a $2500 purchase for it. Check your homeowners/renters policy to see what they cover in terms of jewelry.

**disneysteve** · 03-24-2017, 05:15 AM

Extended warranties on pretty much anything are a rip off. They wouldn't sell them if they benefited the customer. They sell them because it benefits them. They make a fortune on those warranties.

Take the ring to a trustworthy jeweler every couple of years to have the prongs checked, get it cleaned periodically, and make sure it's covered by your homeowner's insurance and you'll be all set.

Congrats by the way!

**pflyers85** · 03-24-2017, 05:24 AM

It basically covers cleanings, resizing, resetting prongs, refinishing, and other things like that. My initial thought was that it was a rip off. I know in retail the margin on the actual products are quite small so they upsell "service plans" to generate additional revenue. I just wanted to hear first hand from folks and their experiences but I am likely going to pass. Based on my initial research things like cleaning and resizing are relatively nominal.

**disneysteve** · 03-24-2017, 05:57 AM

Originally posted by pflyers85 View Post

Based on my initial research things like cleaning and resizing are relatively nominal.

We've been married for 24 years. Our jeweler has never charged us to clean my wife's ring. I'm sure we paid to resize it. I don't recall the cost but I'm sure it was nominal.

**MooseBucks** · 03-24-2017, 06:03 AM

Originally posted by disneysteve View Post

We've been married for 24 years. Our jeweler has never charged us to clean my wife's ring. I'm sure we paid to resize it. I don't recall the cost but I'm sure it was nominal.

They want you to come in for those free cleanings and hope something will catch your eye. We've never paid for them either and I believe my wife has stopped in the chain stores at the mall before and they've offered to clean it as well.

**rennigade** · 03-24-2017, 06:03 AM

Originally posted by pflyers85 View Post

It basically covers cleanings, resizing, resetting prongs, refinishing, and other things like that. My initial thought was that it was a rip off. I know in retail the margin on the actual products are quite small so they upsell "service plans" to generate additional revenue. I just wanted to hear first hand from folks and their experiences but I am likely going to pass. Based on my initial research things like cleaning and resizing are relatively nominal.

I bought wifes ring at jarrod. I think the plan was $60...wasnt sold as an extended warranty though. It was for unlimited resizing and refinishing. They guarantee the diamond...meaning if you get it inspected twice a year and the diamond falls out they'll replace it for free. Once a year she gets it refinished...so when it starts to look dull or whatever a refinish makes it look new again (its different than a simple cleaning.)

Not sure if she would have done it if it costs $200. That seems like a lot.

**james.hendrickson** · 03-24-2017, 06:09 AM

Originally posted by disneysteve View Post

Extended warranties on pretty much anything are a rip off. They wouldn't sell them if they benefited the customer. They sell them because it benefits them. They make a fortune on those warranties.

Yes, don't buy the extended warranties. Disneysteve is correct, they are not a good value.

**Milly** · 03-24-2017, 08:33 AM

I think there are more variables. Almost all product extended warranties are garbage, but I had already gotten the value out of my ring's extended warranty by around year 4. I have two marquee diamonds in mine that like to get loose and fall out (held in by only two prongs). I've lost one stone, but it was free to get it replaced and set in due to the warranty.

They are right about the free cleaning (at least at Jared's). They will happily take any jewelry you have and clean it for free to keep you browsing their store regardless of any warranty.

As for sizing, my quick google search says $20-$150, or free. I've already had mine sized twice because those stupid ring gauges don't feel anything like a ring. They aren't the same width as my ring and you can't swing your hand around to see if it feels like it's going to fall off because it has a huge chunky ring of gauges on it.

One thing to note is that if you can only redeem your warranty at a single store or a store only on one half of the country, don't do it. I hope you expect to be with your wife for the rest of your life. That is a long time to say you'll stay in one spot.

**Milly** · 03-24-2017, 08:50 AM

Also, CONGRATULATIONS!!!!!

Get ready for excitement ahead. Most of it good, some of it... character building. Marriage is great!

I am so happy for you! One of the coolest things my husband did before meeting me was saving $2,000 for a ring (ended up paying around $1,700?, but prices have only gone up since then). It was a leap of faith telling God that he was ready. To me, he was telling me he loved me before we even met.

I am so glad you are giving your wife-to-be a gift that she won't have to pay for over the first few years of marriage.

One more unsolicited comment:
I really like my ring and I picked it out, my sister really likes her ring and she picked it out, my mom doesn't like her ring and she didn't pick it out, my other sister was "okay" with her first ring and she didn't pick it out.

Your wife is going to be wearing it for a long time, get a good idea of what she wants either from her or feed her roommates questions to "tease" her about.

My brother got a gorgeous $20 Black Friday cubic zirconium engagement ring, then let her pick out her wedding ring. Unconventional, but perfect for surprising her, then letting her choose. Plus now she has a second cheap ring to wear to amusement parks and traveling.

**97guns** · 03-24-2017, 08:52 AM

No comment on extended warranty but I want to say that a 24k gold band will hold MUCH better value than a diamond ring made of 14 or 18k gold

American women are so focused on diamonds but they are terrible for holding their value, just like a new car you loose money the minute you drive off the lot.

**snafu** · 03-24-2017, 09:53 AM

Congratulations on your upcoming engagement. Add my voice to others to use $ 200. for other things. The warranty is poor value. Have ring appraised by licensed, certified gemologist [GIA] and add as a rider on any home insurance policy. Any jewelry shop can check 'prongs,' you should look at them under a magnifying glass or jeweller's loop every anniversary because they do wear out.

It helps to understand what you are buying in gold, white gold, sterling silver, diamonds or any [valued] colored stone. Ask the weight of the gold in the setting. The mark-up in jewelry is over 1,000 % .

It's easy to clean an engagement ring or any quality jewelry except pearls. A small glass or bowl, luke warm water + 2 drops of dish detergent like DAWN. Soak ring for 10 minutes, brush gently with an old, soft toothbrush, rinse and dry with a soft cloth [like those used for eye glasses]. If it's really gunky, add a tiny drop of ammonia to the water. The stuff they sell in the stores isn't worth the cost of the packaging and the residue is just dirt!

**disneysteve** · 03-24-2017, 10:12 AM

Originally posted by 97guns View Post

No comment on extended warranty but I want to say that a 24k gold band will hold MUCH better value than a diamond ring made of 14 or 18k gold

American women are so focused on diamonds but they are terrible for holding their value, just like a new car you loose money the minute you drive off the lot.

I didn't buy a diamond ring as an investment in gold or diamonds. I bought it as an investment in a relationship.

**disneysteve** · 03-24-2017, 10:18 AM

Originally posted by Milly View Post

Almost all product extended warranties are garbage, but I had already gotten the value out of my ring's extended warranty by around year 4. I have two marquee diamonds in mine that like to get loose and fall out (held in by only two prongs). I've lost one stone, but it was free to get it replaced and set in due to the warranty.

Just because you personally benefited from having a warranty (which is fortunate in your case) doesn't make them a good idea in general. Certainly, you could find plenty of people who have made claims on these warranties and saved money because of them but overall, they aren't typically a good idea. As I said, if they always benefited the customer, companies would stop selling them because there would be no profit to be made. They don't sell extended warranties out of the goodness of their heart. They sell them because the profit margin is outrageously high.

On a separate note, if the diamonds in your ring "like to get loose and fall out" you might want to take that ring to a good professional jeweler (not some shopping mall chain like Kay or Jarrod's). Maybe they can alter the setting to keep that from happening.

**97guns** · 03-24-2017, 10:23 AM

Originally posted by disneysteve View Post

I didn't buy a diamond ring as an investment in gold or diamonds. I bought it as an investment in a relationship.

my mindset with buying anything is try to hold value, probably all started when i lost my a$$ with baseball cards as a kid, i had viewed them as an investment that i was gonna get rich on

Engagement Ring Advice