Resale Vaule

[gyms]

I was given this as pay because the person is short on cash. It is a loose diamond which was told is a 1.52ct F color with SI-3. If I went to a pawnshop or jewelry broker what do you think i could expect to get? Or is there a better place or type of business to sell it to?

 

[kenny]

Value depends on specs.
Without a reputable lab report you do not know the specs, and sellers have been know to...uhm... "embellish" the grades.
Since you were told the clarity is "SI1 - SI3" I assume there is no lab report, meaning you don't even know if it is really an F.
IMHO step one is to get it graded by a reputable lab.

An appraisal from the most independent, credentialed, professional appraiser in the world (who does NOT sell diamonds, which introduces the possibility of conflict of interest) is not good enough to me as a buyer.
I'd only consider buying such a valuable diamond if it had a report from either AGS or GIA.

http://www.aglgemlab.com/

http://www.gia.edu/lab-reports-services/index.html

GIA will be slower, but will deal directly with you, a member of the public.
Both labs are equally reputable, but GIA is more widely recognized by the unwashed masses.
AGS is known and respected perhaps a tad higher among the washed few, but AGS will not accept a diamond from you for grading; you must go through one of their member jewelers.

With a report from one of these labs you, and more importantly your buyer, will know for sure the color, clarity, weight and cut among other price-influencing factors like fluorescence.

You can hand-deliver it to GIA in NY or Carlsbad CA.
If you have to ship it use USPS registered mail return receipt requested.
But if it is lost you need written documentation of value such as a recent appraisal or receipt.

If you are in the USA here is a list of professional appraisers: https://www.pricescope.com/appraisers

I'd sell it on diamondbistro.com.
You'll get the least money from a pawnshop, though you will get that money TODAY.

Another possibility if it has a GIA or AGS report is to sell it through a local jeweler or an online one.
You'll have to negotiate their commission and evaluate their exposure to the public and what tools they will use to market your diamond.

They may buy it from you outright for a lower price or consign it for you for a higher price but you don't get paid till it sells.
This is another mouth to feed so you may get less for it than at diamondbistro.com, or Craigslist where you keep all the money.
If you decide to deal directly with the public beware of scams and security, selling through a pro is safer for you.

After you get a lab report from GIA or AGS do a search for similar diamonds (ignore diamonds with reports from the flakey labs like EGL or IGI - their color and clarity grades are often big fat lies)

Price your diamond some percentage of new, perhaps 50% to 80%, or even more, whatever you like.
The lower the price the faster it will sell.

You are not allowed to sell it here on PS, but after you list it at a place like diamondbisto.com PS will allow you to start a thread about it and include pics and a link to the listing right here on Pricescope's "Pre Loved Forum" [URL='https://www.pricescope.com/forum/preloved-ps-jewels/']https://www.pricescope.com/forum/preloved-ps-jewels/[/URL]

 

[gyms]

Kenny,

Thanks for a quick and very informative reply. Just wondering what is the average cost of the GIA lab report?

 

[denverappraiser]

As Kenny points out, grading is a big deal in this business and the benchmark used by nearly everybody is GIA. That said, pawnshops are easy enough to get a bid out of. Ask 'em. It's free and fast. They'll also tell you what they think the grade is, or at least what they're basing their bid on, although I would warn you that this is a suspect source due to the obvious conflict of interest. SI3 usually means I1 or I2. We're now spanning half the scale. F can mean anything from F to J and you've got no information at all about the cutting. That's a wide range, on the order of a factor of 5. Adding a GIA to your advertisement is essential if your going to be selling to a consumer, especially for higher grades, but if you're selling to a pawn type outfit I'm not sure the extra value for this is going to justify the cost and the time. To a large extent that depends on your schedule, budget and temprament. It may benefit you to start at an appraiser and get a better feel for what you have, what your sales opportunities are and how a lab grading report might affect it.

Dare I suggest that the debtor here has probably already looked into this. If they could have easily sold it, paid you, and had change left in their pocket they surely would have done exactly that and we wouldn't be having this conversation.

Here's the GIA fee structure. Don't forget shipping and insurance if you don't happen to live in Carlsbad or NYC.
http://www.gia.edu/lab-reports-services/fees_payment/lab_fees/index.html\

edited to add the GIA link and correct spelling.

 

[kenny]

Kenny,

Thanks for a quick and very informative reply. Just wondering what is the average cost of the GIA lab report?

It depends on the weight.
If it truly is 1.52 ct the fee will be $110.

GIA does not have an SI3 grade.
The grade below SI2 is I1.

http://www.gia.edu/lab-reports-services/fees_payment/lab_fees/diamonds.pdf

 

[kenny]

To get some idea of the possible value range I like to look at www.bluenile.com since they have a huge database.
My search of diamonds that MAY match your specs resulted in 495 rounds.
I entered 1.5 ct to 1.55 ct., F to J, SI1 to SI2, and ALL qualities of cut.

If it is SI1 or SI2 per GIA the online retail value may vary from $6,000 to $20,000.
Keep in mind Bluenile does not carry I1 or I2 stones so if GIA assigns I1 or I2 these values are too high.

This very wide range of value is exactly why a lab report from a trusted independent grading lab like GIA is so important.

I DO hope you didn't overpay. and it comes back from GIA as a D IF.

In this first screen capture I sorted by price with the lowest price listed first.



In this second screen capture I sorted by price with the highest price listed first.

 

[denverappraiser]

Also bear in mind that Blue Nile asking prices are not necessarily what you will be able to realize on resale. that has a lot to do with you and with your buyer.

For example.

Lets assume it's a 1.52 I1/J round brilliant of decent but not fabulous proportions.

A 'typical' sort of jewelry store is going to ask about $6-7k for it. They'll say it's 'worth' $8500.
A 'discount' sort of operation may be about $4,500 - $5,500k depending on the details.

It's going to cost you about $300 to get it papered and a pawn type dealer will want to be at something like $3000. They'll pay about the same either way, papers or not so if this is the sales plan I wouldn't do it personally, especially if you're tight on either time or money.

The trick is if you retail it, you may very well be able to get $4k. Pay a couple of hundred in transaction fees and the above fees for lab work and you're still up over $500 for the trouble.

Trick 2 happens if you're near a boundary. The difference between SI1 and SI2 is a big deal. More than $1000. If you're relying on the buyers grading and you're near that boundary, it's going to be SI2. If you've got a GIA that says SI1, few will argue the point. A similar thing happens with color. H-J is more than $1000 in this size range and when paired with decent clarities (If you've got an I3 it doesn't matter. If you've got a VVS1 it's enormous). That's a pretty big payoff for throwing a few hundred dollars at a lab.

Here's a few basic rules. I'll try and flesh this out a bit and put it in the journal.

If you have to have the money now, sell it and do whatever you have to do.
If you're going to try and retail it and you expect more than, say, $2000, get a lab report.
If you're selling to a dealer, you've got the time and the budget, it's reasonably expected to be at least SI2, at least J, and at least 'Good' cut and you are expecting more than, say, $5000, get a GIA.
If it's I2 or below, don't bother. If it's L or below AND I1, don't bother. If it's clarity enhanced, don't bother. If the cut is expected to be below 'Fair', either don't bother or use a non-GIA lab.

 

[Modified Brilliant]

If you decide to bypass the GIA report route...

remember that a dealer-buyer will form his or her own "opinion" on color, clarity, cut and value.
These "opinions" will surely differ. If you are in or near a larger city with established brick and mortar jewelry/diamond buyers,
you might spend a few hours visiting six or more storefront buyers and getting "offers to purchase."
There is usually no fee for a "no obligation offer." This method might help you establish what your
market is paying for your diamond. No doubt there will be low ball offers but a strong offer could
emerge from the group.

The direct sale to a consumer is another option, and as the other gentlemen noted, a GIA report
would instill confidence in the buyer and you would be able to price your diamond accordingly.

Hope this information is more helpful than confusing!

 

[kenny]

Also bear in mind that Blue Nile asking prices are not necessarily what you will be able to realize on resale.

Neil, that's already been covered.
To quote myself . . .

 

[Dancing Fire]

I was given this as pay because the person is short on cash. It is a loose diamond which was told is a 1.52ct F color with SI-3. If I went to a pawnshop or jewelry broker what do you think i could expect to get? Or is there a better place or type of business to sell it to?

how much does this person owe you?..

 

[mandasand]

I'm no expert, but I had an uncertified .91 SI1, J color RB and I sold it on Craigslist for $3000. I took it to a jeweler and he offered me $1200 (and that was for the large stone plus a bunch of other pre-set diamonds). The diamond was originally purchased for $3500 in 2002. I think the reason why I was able to sell it because the store trade-up policy transferred with the diamond. The person that bought it only needed to spend another $1 to upgrade the stone.

 

[kenny]

an uncertified .91 SI1, J

I'm sorry, but that's an oxymoron.

Without a grading report the color, clarity and maybe even the weight are unknown.

 

[mandasand]

Kenny....so true!

 

[denverappraiser]

an uncertified .91 SI1, J

I'm sorry, but that's an oxymoron.

Without a grading report the color, clarity and maybe even the weight are unknown.

Actually, that one is more 'certified' than most. It was backed by a contractual obligation from the jeweler who stood behind his/her grading and went all the way through a tradeup based on it. We, of course, know nothing about the other half of the trade, but a transferrable offer to trade in house graded stones at full price without serious limitation is a darned good program. GIA flatly objects to the term 'certified' when refering to their work product in order to avoid exactly this sort of liability. Their position is that they are certifying nothing and no one.