Reset It and Forget It

Resetting diamond jewelry is one of the most cost effective ways to get more use out of those jewelry box lingerers that never get to see the light of day.

Old rings that have been relegated to those dark corners like a diamond you've inherited or a generous gift that well, just isn't your taste - now's the time to hunt them out.

While some folks want to sell their jewelry these days, remember the resale price of a diamond ring is way below the price paid for it. Most people after finding out how much they'll receive decide it's not worth selling, but then have no idea what to do with the ring.

Why not reset it and forget it? One of the most popular ways to reset a diamond ring is either to take out the diamond and set it as a pendant, or reset the diamond with smaller gemstones surrounding it, to give it an entirely different look and feel.

If you have an heirloom the question of to reset or not can be fraught with emotional issues. After all, this ring may have been passed down from generation to generation and to take it out of its originally setting is almost like breaking the chain. If you do decide to reset, then when you talk to your jeweler, find out about having an antique setting that is more to your taste, but still keeping within the era of the original setting. If you do decide to take the resetting plunge, make sure you go to a reputable jeweler that specializes in resetting. Spend time with the jeweler and make sure you're confident that they understand what you're looking for.

A good idea is to have the diamond graded by a professional gemological laboratory such as IGI or GIA. They'll examine the stone and you'll receive a diamond certificate detailing the diamond's properties. That way if any queries arise when you receive the diamond back in it's new setting you can re-check that it is the same stone. Make sure the jeweler insures the stone during the period they have it. If they don't make sure your insurance covers the diamond during this time.

Find out how long it will take to reset the stone - you don't want any nasty surprises. If you're having additional stones in the new setting, make sure they're the quality you want, ask to see a sample of the types of gems of diamonds that will be surrounding the diamond, together with your diamond. Some colors or diamonds reflect in the main stone, making the stone appear duller than it is (and vice-versa, they may bring added brilliance to your gem).

The same applies if you've having it set in gold. Some diamonds appear to have a more pronounced yellow tint when set in yellow gold. White gold or platinum may make the stone appear more colorless.

No matter what you decide, giving your diamonds a facelift is a great way to get more bang for your buck in these trying times. And you have recycling bragging rights you can cart out in front of all your eco-friendly pals. Seems like a win-win to me. Good luck!