Insurance voucher - realizing the cash!

philthejuggler

philthejuggler

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Hi all

My wife managed to lose a gold watch whilst walking - we bought it some years ago for around £250 and we were a little shocked to find it is now worth £1500 and that's what the insurance have sent us.

Trouble is, they've sent it in vouchers for Jewellers, and my wife is rather concerned about buying / wearing a watch of that value - she'd really rather buy another for a couple of hundred and pocket the cash.

Any bright ideas on this? - I wondered whether I should buy a diamond ring and head it to a 'we buy your gold' place, but I'm guessing this would incur a large loss!

Thanks

Phil
 
Maybe someone (preferably someone you know!) would be prepared to do a deal - ie the voucher for cash?
 
Xmas pressies sorted for the next few years;)
 
Thanks for the suggestions. It's valid for 18 months. Not sure I can think of anyone who would be spending £1500 on jewellery!
 
philthejuggler said:
Hi all



Any bright ideas on this? - I wondered whether I should buy a diamond ring and head it to a 'we buy your gold' place, but I'm guessing this would incur a large loss!

Thanks

Phil
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I have a 18c white gold diamond ring bought last year for £1300 took it one of those places and was offered £30. they don't take the stones into account.
 
gumbo-67 said:
I have a 18c white gold diamond ring bought last year for £1300 took it one of those places and was offered £30. they don't take the stones into account.
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Wow! That's absurd!

Incidentally - what did you spend the £30 on?
 
She has already been walking around with a 1500 quid watch on :) Perhaps get a pair of his and hers watches instead?
 
Maybe buy a "cheap-ish" watch, and also something as an investment for a few years into the future?
 
Cobra said:
Maybe buy a "cheap-ish" watch, and also something as an investment for a few years into the future?
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This is the most sensible thing to do, or just buy a cheap watch but a more expensive one for those special occasions.
I bought my Rolex with money my mam gave me when my dad died and it only ever comes out of its box for those special times, about 4 to 5 times a year.

why not just go to the jewlers and have a great time spending some money that you never had??
 
gumbo-67 said:
I have a 18c white gold diamond ring bought last year for £1300 took it one of those places and was offered £30. they don't take the stones into account.
Click to expand...

Terri, find a reputable independent expert jeweller and you will find the opposite to be true. They will appraise the stone and the gold will be irrelevant.
 
srichards said:
She has already been walking around with a 1500 quid watch on :) Perhaps get a pair of his and hers watches instead?
Click to expand...

Now that's a nice idea. :thumbs:
 
Cobra said:
Maybe buy a "cheap-ish" watch, and also something as an investment for a few years into the future?
Click to expand...

Good idea

Always nice to have as something to pass on too!

Steve
 
Worth asking insurance to take back vouchers and ask for cash instead?
 
philthejuggler said:
Thanks for the suggestions. It's valid for 18 months. Not sure I can think of anyone who would be spending £1500 on jewellery!
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I coukd think of a lady who would if you wanted cash for the voucher :-)
 
viv1969 said:
Terri, find a reputable independent expert jeweller and you will find the opposite to be true. They will appraise the stone and the gold will be irrelevant.
Click to expand...

thanks Ruth i am going to do that. when i get the chance to go back into town. didn't think they would.
 
viv1969 said:
Now that's a nice idea. :thumbs:
Click to expand...

Cobra said:
Maybe buy a "cheap-ish" watch, and also something as an investment for a few years into the future?
Click to expand...

SpikeK6 said:
This is the most sensible thing to do, or just buy a cheap watch but a more expensive one for those special occasions.
I bought my Rolex with money my mam gave me when my dad died and it only ever comes out of its box for those special times, about 4 to 5 times a year.

why not just go to the jewlers and have a great time spending some money that you never had??
Click to expand...

These are all great suggestions, but I'd much rather have the majority in cash!

Phil
 
Buy a £1500 gold chain from them? And then sell that on.
 
that happened to me. It was the voucher or nothing. Spent it on a couple of things tho :) You could get a new watch too? And a pair of earrings for her as well as the new watch?
 
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