Million Pound Pawn: Engagement ring valued at £2,000
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In the latest instalment of Million Pound Pawn, Diana was looking to receive around £16,000 for her engagement ring. However, expert Kathy was left close to tears on the ITV show after having to reveal the true value of the item to Diana – which was considerably less than she was hoping for.
After nine years of being happily married to a Canadian, Diana’s marriage soured and she was hoping the money from selling her engagement ring could help her move forward.
Kathy took the rings away to study them and work out exactly how much they’re worth.
The rings were Canadian diamond which Kathy revealed was rare and sells for 20 percent more than other gems from other countries.
She explained that experts look at the cut, colour, weight and clarity of the diamond to determine the ring’s worth.
After analysing, the expert said: “I’m going to really shock her with today’s pricing.”
Read more: Million Pound Pawn: Patek Philippe owner in tears by watch’s value
Ahead of the valuation, Diana revealed: “I want to get on the housing market and I need to sell my rings to be able to do that. I just want a clear sale so I can move on and live my life.”
“Just recently I’ve had it valued professionally and as a set, I would be looking at £16,000,” she told Kathy.
The jewellery expert said: “I don’t want to shock you too much with the price.
“If I had to purchase today a stone of this quality the price to purchase your stone today would be £2,000 and that is the price I’m offering.”
“The worst part of this job is delivering a price when it’s not what they want to hear. It’s hard,” she added on her own to the camera.
“What about the jewellers in Plymouth who valued it at £12,777?” the guest asked.
The expert said valuation for insurance is different to the price that the jeweller wants it for.
“Did you ask them what they’d buy it for?” Kathy asked and the guest confirmed she hadn’t.
“You’ve got a valuation for insurance and a valuation for insurance is such a different price to a price a jewellery will purchase the item for,” Kathy said. “It can be a minimum of two-three times the retail price.
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“They’ve got their ideas and dreams, what they want to do with that money and sometimes we’re the bearer of bad news and it is difficult.”
Disappointed with the offer, the guest said: “I won’t waste any more time but thank you,” packing up her stuff and leaving.
The expert added: “I could cry – that was a hard one – it does grab at your heart because you really want to help these people.”
ITV viewers felt awful for the disappointed guest as one tweeted: “Hope this lady gets more for her rings. #millionpoundpawn.”
“Was about to change channel but am now glued to this. That poor woman trying to sell her engagement ring for a deposit for a house!! #millionpoundpawn,” another wrote.
Elsewhere in the show, a guest was horrified when an expert smashed her grandfather’s watch to pieces to discover the item’s true worth.
Expert Dan Hatfield explained her grandfather’s gold Rolex watch was a fake and asked if he could take a hammer to it.
The guest reluctantly agreed but covered her ears and closed her eyes – unable to watch Dan destroy the sentimental piece.
Once the damage had been done, the pawnbroker weighed out the different pieces and concluded he would buy it off her for £2,700.
“Are you for real?” Andrea asked before Dan told her he would purchase the other watch she had brought in for £2,800.
Million Pound Pawn airs Tuesdays at 8pm on ITV.
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