"Never understood how they drove a shiny, new Cadillac and carried a LV handbag..." Such is startling to see & difficult to understand. Especially if one is earning a decent to good living, but choosing, if not actually to be frugal, at least to be mindful, when spending. I'm just speculating that for the less well-off, it becomes a matter of giving up. Of thinking it's better to just enjoy what can be had with easy credit (acquired at astronomical interest rates). It's a sign in my view, of feeling defeated, not believing that a real future is possible. Why not pay 30% interest on a credit card & grab some fun? Remember, the culture really has, until this economic turndown, & maybe even still, supported the notion that "bling" is the key to happiness. Certain "things" will always confer status among some groups, many groups, as I was suggesting earlier. People want to feel they have some status, some worth, some value, in the eyes of their group. The sad part is, I doubt these people ARE happier with the Cadillac & designer bag, & the mileage it gets them among their peers often turns sour & results in jealousy & ill-will toward them, rather than the respect & inclusion they crave. I think that can be said at all income levels when people merely acquire to enhance their social standing. But it's human nature! Many are on automatic pilot when they spend. That's why I believe whether we are paupers or billionaires, we need to stand back, stop, do some inquiry, and mindfully, consciously choose our goodies.

I just recently dealt with jewelry insurance but I would not be surprised if my experience through USAA is different than then norm. I basically a couple of years ago lost the diamond and platinum with diamond and gold band antique hamilton watch that my mom got me when I got my M.Arch degree. At the time it appraised at $4450, which floored me since she paid about $600 on ebay but I wasn't going to pay for another appraisal so I sent it in and that was that. Well the clasp opened when I was wearing it on an airplane and i DID catch it but still managed to lose it anyway... I shoved it in my bag and then lost track of it and spent 2 years searching my house from top to bottom for it before filing a claim on it. I called them and since my banking is also with USAA, within about 6 hours $4450 was deposited to my account and that was that. I scoured ebay for a replacement and was shocked... I guess with the price of gold and platinum being so high, the only watches I saw that came close to looking like my old one with the same weight and quality of diamonds and same era and same watchmaker... ON EBAY... were upwards of $3k, closer to $3500. And I only bought this watch in 2005. I ended up settling on a different style of watch... platinum and diamond case but with a leather strap. I think the style is something I can wear on a daily basis and a leather strap is just way more secure than a bracelet ever will be (on the first one the safety chain did do its job for a while but I actually felt it as it slipped off my wrist and not as the clasp opened, but I suspect it had been open for a while by the time it slipped off). I bought it on ebay again, this time from a seller in the UK. It was $1500 with shipping (without the gold and diamond bracelet) but he sent an insurance valuation stating it was worth close to $2400 (everything was in pounds). I called my insurance company to add it and apparently under $2500 they do not require the actual appraisal, just a description (which I was able to provide). The total premium for the year on that plus another $10k worth of jewelry is about $90 for the year. SO WORTH IT for peace of mind, especially now that I lost a piece (and I cried over it for a while and tore my house apart and really only was resigned to it being gone recently). The other thing is they never took the old watch off of our policy so I asked them to do that also and not only did they do that but they also are refunding the premium we paid back to the date of the loss. It's not much, maybe $50 or $60 at most but WOW. I did not expect that at all, especially since I was dragging my feet on the claim. I was just thrilled that they gave me no problem on the claim even though it had been so long since I lost the watch! Stinkygardener, if the piece is not marked gold, any jeweler will be able to test it in front of you (even if it is they will). They basically rub it onto a black flat stone and then use a dropper to apply one of 3 acids to it and if the line stays bright and gold, it is real gold... 10k, 14k and 18k have different liquids. I think $149 is reasonable for what you described, amethysts are not very expensive and there is probably not a ton of gold in the setting. I can tell you from SELLING jewelery that they pay a pittance for it and it could just be that the guy has been looking at it in his case for a year and wants to get rid of it (and believe me, he is still making money!) Maybe I am also just too trusting but in general mom and pop stores rely on word of mouth and I would not be inclined to be mistrustful of a jeweler in that setting. I would be more mistrustful of a mall jeweler to be honest because I would not be surprised if the salespeople they hire don't know a thing about jewelry. A friend of mine owns an antique store and he told me he always prices things a min of 25% higher than what he wants because "people love to bargain." Sometimes he prices them twice as much as he'd be willing to take for it, and what he is willing to take for something goes down as time goes on.

I'd like to second what pebbles said about GIA certificates. At the higher end of the diamond world, stones are traded based strictly on certificates. They are that important. I'm another one who did a good deal of research a few years back. The way the market is structured, there are cities such as Antwerp and NY and sources in Russia and Israel where the market is centered and the best stones are traded and cut. There are wholesalers who buy stones, make up the rings and then sell them -- even to the high end stores like Tiffanys and Cartier though those often have exclusive styles. Harry Winston has their own workshop upstairs above the store where they make some pieces. But if you are going for a stone larger than 2 carats and with good cut and color -- pebbles again is quite right, chances are you are not going to do very well outside a big market. Even some discounters here have trouble getting larger stones of good quality. Many local jewelers are clueless about diamonds no matter what they say. The industry is structured on fixed pricing per carat, clarity and color. There's a publication used in the wholesale market that determines this and changes weekly or monthly (can't recall). Then there is cut, which is an eye thing developed only by extensive looking and relationships with the 'better" dealers who get the better stones. Point is, there are regional diamond centers in big cities such as Chicago and elsewhere, plus the online folks. With every layer of distance from the source there is an upcharge. Pebbles also makes a really good point about resale. The only fallback anyone has is to buy the best color, clarity and largest carat size you can afford from a name jeweler such as Tiffany, Cartier, Winston, Bulgari etc. as these command a premium if you resell them at auction. But you will pay retail and those brands command premium prices. I had a Cartier engagement ring that I resold at auction after many years and got a good price. But it was registered there with a number and I had retained the original invoice that stated the specs. I had worn it a lot and the engraving had worn off so I took to to them and they reengraved their name in the ring It was a pretty ring and I was able to sell it at auction advantageously because it was a prestige brand. But that's the only reason to pay retail (though styles go in and out of fashion and even values of the prestige brands fluctuate accordingly). If you are going for a larger stone than 2 carats then I would recommend a ton of research and asking everyone you know so you can get through the chain and as close as possible to the source. It might also be a good idea to check around on jewelry auctions where engagement rings are sold with certificates as you can sometimes do a bit better. My youngest brother got engaged two years ago. They had shopped extensively and he really knew his onions, plus the style she wanted and what he could afford. By making the right wholesale connection and shopping in NY (i.e. in a source market) rather than in Arizona or California, he was able to buy a ring that was a carat larger with the same color and clarity, and a better cut within his budget. The dealer was happy to deal with him because he knew exactly what he was buying and knew how good the price was and didn't dither over making the decision.

I missed this first go round too. I think there is good, classic jewelry that will never go out of style. I also like stylish costume jewelry but not the stuff made to look like the "real thing", like fake diamonds, rubies, etc. I love unique necklaces. I'm talking costume jewelry for necklaces. I wear earrings most days, but not always. Most always wear my wedding ring diamond set - although there are times when I will wear a plain wide wedding band. Always wear one other ring on my right hand. I have an emerald cut 3 stone ring that I most often wear but occasionally will change it up. My dad recently gave me three rings that belonged to my mother and one is a gorgeous london blue topaz that I have worn several times. I never wear a watch and don't wear bracelets that often - other than my charm bracelet. I do like an earring on some men, but it depends on the man. And one earring only. tina