Walton's Jewelry — Local services in Franklin

Walton's only offered $3k on an engagement ring with a 1.69ct diamond that Walton's valued at $15k nearly 40 years ago! The owner then went ballistic when I brought it up later.

My mother passed away last year and we were advised to use Walton's to sell the jewelry. First, the good. Customer service was excellent and the sizing of the jewelry appeared to be relatively accurate.

The neutral: For any scrap gold, they wanted a 25% commission, compared to under 5% at a local trustworthy Coin and precious metals dealer who I have used previously. And parking is atrocious, which is normal for downtown Franklin.

The bad: Due to the massive amount of documents that came from my mothers estate, when I went to sell the jewelry I did not realize we had a previous estimate from Walton's that was conducted by the owner father back in 1985. He estimated a replacement value of $15,370 nearly 40 years ago. To be fair, I understand that replacement value is probably 3 or 4 times greater than what we should be able to sell it for in 1985. So, one would naturally think that gold, diamonds and sapphires had increased in value a little(or a lot according to all the sources I can find) over 4 decades, even with a very small chip in the 1.69ct diamond.

I have attached the appraisal and the offer sheet from Walton's. The first item on the "gold buying form" is the description of the ring. The value: $3,000!!!! And the first item on the "Appraisal" is the same ring with the $15,370 appraisal in 1985. You can see the date.

In full disclosure, when selling the ring, I did request more and they came up to $3500.

I am a lifelong resident of Franklin and I understand the value of a reputation. I trusted Walton's. However, some time after completing the sale of the rings, necklace, etc. (I kept the scrap gold to sell elsewhere), my wife was transferring her documents to a new filing cabinet and found the appraisal.

I reached out to Walton's in hopes of receiving a satisfactory response and being able to write a positive review rather than a negative one. Their response: that jewelry is like cars and handbags, and defended their offer.

They did offer to cancel the transaction. They had already cut the diamond and it was no longer in it's original form. I discussed with the other beneficiary and we both wanted this done. The jewelry was the last step in a very long process to wrap up the estate.

You decide for yourself: Do gold/diamonds/sapphires increase in value? According to Statista, 1ct has gone from $10k in 1980 to $30k in 2016. And while the gold weight is minimal, it has increased even more in % value. If the replacement value on the ring has doubled or tripled, then it would now be $30k-$45k.

If gold and diamonds have increased over 3 times in value, how does $3k make sense on an item that likely has a current replacement value close to $40k?

Side Note: Considering what they are paying for older jewelry, then shopping here is likely reasonable (for Franklin) and I doubt you will regret it. But you might want to think twice before selling to them, and get a...

I cannot recommend this jeweler strongly enough. My fiancé bought an antique art deco diamond ring for me here. When it came time for me to buy one in return, it was an easy decision to go here. I showed them some ideas of what I wanted, which were very specific. They didn’t have anything like them stock, but quickly found some that were similar online. They ordered one, but it didn’t look like the internet pictures. They immediately recommended having a completely custom ring made to my exact specifications—at no additional cost over customizing a pre-made ring. They had ordered several diamonds for me to see. We put together photos and ideas, and their jeweler went to work. They initially told me it would be a few months to have the ring crafted, but had it ready in just a couple weeks. It came out beautifully. They were so welcoming and accommodating. There were no cheesy sales tactics or pressure. They seemed to be only interested in providing me with exactly what I wanted within my budget. If you need any kind of jewelry or gifts, you won’t find a better...

My husband and I used Walton's for our wedding bands - we had a destination wedding in Franklin, TN and it was important to us to use local vendors.

We scheduled an appointment (they are very responsive via email!) and were so pleasantly surprised that Julie - the owner of the store - ran our appointment. She had several bands displayed and ready for us that matched pictures we had sent.

When my husband couldn't find the exact one he pictured? She got online to find exactly what he wanted and ordered it for him.

Professionalism, great customer service, beautiful pieces. It's all there at Walton's.

When we came in for pick up (band's arrived in plenty of time!) husband's ring was one size too tight. The immediately resized it and had it ready next day.

Finally - as if I haven't gushed enough - the store was closed during NYE and we had failed to pick up the ring. The owner met our wedding planner DURING HER TIME OFF to make sure we had the band for the ceremony.

We will be buying all important pieces from Walton's in the future. Do it - you...