ConsumerWatch: Do your research before splurging on expensive jewellery
How do jewellers set their prices? What’s a fair mark-up? Who regulates pricing? Or is it purely subjective?
He examines the ring and tells them the cost of the material was no more than R3 000 and he couldn’t value it at more than R6 000. The couple see a few more jewellers, telling them they want to sell the ring, but nobody offers them more than R3 500. Without sight of the ring - or the valuation certificate - it’s impossible to make a call on whether the couple were ripped off. But that’s not to say the jeweller acted unethically or illegally. Two leading jewellers, Vassiliki Konstandakellis and John Skotnes, say without an image of the ring and the size of the diamond and the weight and caratage of the gold, it is impossible to verify the notion that its material worth was only worth R3 500.
"However, that is a small part of the value. Jewellery valuation is very much a specialised skill. But the value of design is hard to quantify.
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