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Cowardin Jewelers

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Cowardin Jewelers Reviews (1)

Review: Misrepresentation of value: On Tuesday, September 17, 2013, I took a one-carat diamond ring and a white gold wedding band to Cowardin Jewelers in Willow Lawn. The rings had been purchased from this establishment around 30 years before for my mother (recently deceased). I was helped by [redacted] Cowardin. I presented two registration certificates as proof of purchase along with the rings. Each registration displayed a purchase price of $499. I was interested in selling the pieces. [redacted] examined the rings extensively, especially the diamond, and did several calculations. He also weighed the gold band. He hesitated, then looked at the registration cards and said," I'll write you a check right now for $500." He did not know that I had visited the store several weeks before to make a general enquiry about the value of a one-carat diamond with an inclusion. I did not know, when I visited, that the gentleman who spoke with me was [redacted] of Cowardin Jewelers and [redacted] father. He did not look at the jewelry, but told me that such a stone might be valued as high as $3600. I observed him nearby as [redacted] examined the pieces. Based upon my previous conversation with [redacted], I specifically asked about the diamond's value increasing over a period of 30 years. [redacted] replied that it had not increased because of the "inclusions". (My mother had told me that there was only one visible flaw and showed it to me.) I accepted the check for $500. Now, I realize that the exchange was a rip-off. What [redacted] did as a certified gemologist appraiser was unscrupulous and unethical. The current market value of the jewelry was withheld from me, so that I was prevented from making an informed decision. I also believe that the salesperson of thirty years ago, [redacted], whose name was on the business card I had, made a credible sale and was willing to back and honor the quality of the jewelry (as it was valued at that time) by way of registration. However, those documents should not have been the determinant for a fair current value offer or exchange. This establishment did not deal with me in good faith.Desired Settlement: The same jewelry should be released back to me for $500; however, they retained the only proof of the integrity of the stone - the registration. There is no guarantee that I would even receive the same one.

Business

Response:

Dear [redacted]

I was very sorry to learn of [redacted] experience with Cowardin’s on September 17th, 2013. It is very alarming that any customer would feel like they were “ripped-off” at Cowardin’s.

I was present at the store on September 17th and saw that [redacted] was helping [redacted] to get a fair market value and what we would pay for her engagement ring and wedding band. I also remember the conversations with her earlier saying that a one carat diamond with a visible flaw could appraise as high as [redacted] depending on the color and cut of the diamond. [redacted] must keep in mind that appraising a diamond without seeing it is impossible. That being said enclosed is a copy of the last [redacted]repot which is used in our industry to price and appraise diamonds. The whole sale price is 50% below the price sheet showing the top and bottom spread of a one carat diamond with an eye visible flaw to be [redacted]. Considering the facts that the old engagement ring mounting and wedding band have no resale value other than its gold weight and the diamond has to be reset in a new ring and sold in the “estate” or “used jewelry” case, the fair market value of [redacted] that [redacted] and [redacted] arrived seems completely fair.

I understand anyone having “buyer’s or “seller’s” remorse. Cowardin’s takes pride in our reputation as you see from our A+ Accredited Business rating at the Revdex.com and our memberships in the [redacted].

Cowardin’s still has possession of [redacted] diamond and would like her to call me at her convenience to set up an appointment.

Our goal is for [redacted] to be happy with any transaction with Cowardin’s and regain the trust that her late mother had with us.

Yours truly,

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Description: Jewelers - Retail, Jewelry Stores (NAICS: 448310)

Address: 4909 W Broad St, Richmond, Virginia, United States, 23230

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