Gemsmith Inc, Home of Ketti Jewelry — Local services in Toms River

I brought a custom platinum engagement ring to Gem Smith in Ocean County for an appraisal in 2025. The ring was originally purchased from Jewelry Designs in Danbury, CT in 2018 for $14,250, plus tax ($15,354 total). The appraisal I received on 06/21/25 from Gem Smith valued the ring at $9,500 as a replacement cost — not resale. After fully reviewing the ring’s characteristics, this valuation is simply not realistic, and I believe it’s important to explain why to help others who have noted this discrepancy

The ring features: • A 1.21 carat GIA-certified natural diamond, pear shape, G color, VS2 clarity • Laser-inscribed GIA report (issued 2018) • Excellent polish, very good symmetry, no fluorescence • A halo of 37 full-cut accent diamonds (total 0.26 ct, G-H/VS1–VS2) • A platinum custom setting, high-polish finish, casting method, stamped, with 3.5 dwt weight

The center diamond alone currently retails in 2025 for $7,000–$8,000 from reputable retailers (James Allen, Blue Nile, Whiteflash, and even direct jewelers like the original). Add the cost of accent stones, custom platinum setting, and labor from a designer jeweler, and a fair replacement cost is $13,000–$15,000. Which is within the wheel house of its original cost. Ask yourself this. Can you truly find the same ring for 9,500$? Wholesale I’m sure you can but we are referred to the replacement cost for insurance purposes.

When I asked for clarification, I was told that “diamond prices are down.” We will be using our 2018 appraisal nonetheless. While it’s true that there’s been a softening in certain segments of the diamond market, natural GIA-certified stones with near-colorless G color and VS2 clarity have not dropped to the point where this ring — custom made in platinum — could be replaced for $9,500. In fact, inflation alone from 2018 to 2025 would push the original $14,250 price closer to $18,000+ today. I was not shooting for this number but rather wanted to gather an updated appraisal.

It appears this valuation was based on wholesale pricing logic or conservative resale conditions, not actual retail replacement value, which is what appraisals for insurance are supposed to reflect. The most concerning part is that this appraisal clearly does not reflect the actual cost to replace this ring from any comparable store. If it’s based on wholesale assumptions, fine — but that should be stated clearly. Instead, it left the impression of an arbitrary figure, with no breakdown, no documentation, and no incentive to provide an accurate reflection of market pricing.

If you’re going to get an appraisal here, I highly recommend asking: • Does this appraisal reflect retail replacement or wholesale cost? • What market data or comps were used to justify the number? • Could I actually walk into a store and replace this ring for what’s listed?

In my case, the answer to that last question is very clearly: no.

Fear not. There are countless other shops that can provide the same song and dance...

FRAUD ALERT!!!!

I am compelled to express my profound dissatisfaction and concern regarding my recent experience at your establishment, which, regrettably, I found to be egregiously unfair and indicative of deceptive business practices. This narrative unfolds from a visit intended to sell my late grandmother's jewelry—a decision made in a moment of vulnerability following her recent passing.

Upon engaging with an individual named Kelly, who identified herself as the manager, we engaged in what appeared to be a congenial dialogue. I disclosed the sentimental origin of the jewelry in good faith, seeking a fair transaction. However, the outcome of this interaction has left me questioning the integrity of your business operations. Astonishingly, the offer of $1,000 for the jewelry was made with an admitted lack of precision, based purely on estimation rather than on any quantifiable measure, as Kelly was unable to provide details on the weight of the gold upon which this valuation was ostensibly based.

Subsequent consultation with Michele’s Gold Buyers illuminated the stark contrast in business ethics and transparency. At Michele’s, the gold was ethically weighed in my presence, providing a clear and understandable basis for the valuation. This meticulous process led to an equitable offer of $3,000, three times the amount previously suggested by your establishment. This stark disparity not only highlights the unfairness of the initial transaction but also underscores the importance of transparency and honesty in business dealings.

Moreover, it has come to my attention that the establishment's business practices extend into morally questionable territories. An incident was shared with me where Kelly, knowingly interacting with an individual in a compromised state due to addiction and attempting to sell stolen jewelry, opted to exploit this vulnerability rather than uphold ethical standards. The decision to proceed with the purchase for a mere $50, fully aware of the circumstances, is reprehensible and further underscores a pattern of taking advantage of individuals in distress.

Such conduct not only undermines the trust essential to your business but also casts a shadow over the ethical standards to which you purport to adhere. In light of these revelations, I urge potential clients to exercise caution and seek alternatives that prioritize transparency, fairness, and ethical conduct. It is my hope that by sharing this experience, I can prevent others from falling victim to similar unjust practices. This episode reflects not just a personal grievance but a call to action for accountability and ethical conduct in business practices. I've attached the receipt...

Do not let this place fool you with their paid reviews. I recently made an appointment here to get my family heirloom appraised (recently engaged). I am new to the area so my internet search pulled them to the top. Their website shows a beautiful showcase of custom jewlery and a boutique. I drove up to the place almost confused, because it looks from the outside, like an old carwash. So I called to ask, are you Ketti Jewelers or Gemsmith? I was under the impression it was Ketti from their website. The woman on the phone said "it is a long and complicated story". So, as not to judge a book by it's cover i went in. I said I was there for my 11:00 appraisal appointment. The woman at the counter turned to her book and said "i should have looked at the appointment book before i told my manager to go home, she looked like a wreck. But I can look at your ring". I asked if she was certified to appraise...she said "I can, but first I'd like to size and secure your stone like you asked". No thank you........... she only knew I asked because it was written in the book. I walked away. The inside of this store is much nicer than the outside, but the fact that this person at the counter tried to play off like it was no big deal that her manager went home was like she was trying to fool me. If your manager went home because she was sick, shouldnt you have called your book to tell them? I came from way out of town and had an appointment more than a week in advance. I'm sorry she was sick but it felt in my gut like no one here was...