What would you pay for this!

[Gypsy]

I have a friend who was gifted this right hand/cocktail ring. It retails for about 2400 as it is a Parade piece with yellow diamonds and 18kt gold.

She is thinking about putting it on consignment locally and asked me to advise her and I'm a bit stumped so I thought I'd ask you guys you think of it so she doesn't get taken.

I only have a stock photo.

 

[denverappraiser]

Get a feel for whether or not that competitive retail price is real. As you know, some stores price things in a way that assumes a discount when they actually get around to making a sale. The real price may be considerably less. A bit of stealth shopping should answer this fairly quickly. Secondly, see if you can get a feel if it is actually selling or if it’s a dead item in the store.

A good place to start is at about half to 3/4 of the actual price of the new one. That’s assuming excellent condition. The consignment commission comes out of that. If it's a dead item new, usually discounting doesn't help until you go way way down.

This is a line of questions for the consignment store by the way. They’re supposedly the experts in their market after all. It's part of what you're paying them for.

 

[diamondseeker2006]

She might do better listing here and on LT if she'd like to join. That way she wouldn't have to pay the consignment fees. I found the ring on a jeweler's site, but they just list retail prices. I wouldn't think she'd be able to sell it for much more than half of the retail.

 

[Gypsy]

Thank you Neil. I'll have to find a retailer and ask them about it. Those are great points.

DS, I have offered to have me list it on LT or DB for her, or helping her set up an account and sell it for herself, either way.

I have no idea what price to tell her to list it for though.

I was hoping some of the folks on here would tell me what they would consider a fair price. So i could get a ballpark, KWIM?

 

[Karl_K]

3/4 retail if it is in excellent condition is a good starting point she can always drop it later if needed.
Need real pictures if listing online.
I think the internet would be a better idea as it is a limited market item and may sit in a jewelers store for months.

 

[Gypsy]

Yeah, I feel it is an acquired taste item, so I was thinking lower price.

I will have to see if the retail price is a firm price or an inflated one meant to be discounted per Neil's advice.

 

[Gypsy]

OK found a retailer with the ring on their website. So I will call them and ask them for their best pricing. And see what they say.

2,325 is the price listed on their website.



Thanks so much for the advice/help guys.

 

[dk168]

You should be able to get the full retail price if you are willing to sell and ship to UK, as even at that price, it is still a bargain.

Need to be careful about return and who is responsible for P&P for return etc... Buyer is responsible for import charges and they are not refundable normally.

DK

 

[Gypsy]

You should be able to get the full retail price if you are willing to sell and ship to UK, as even at that price, it is still a bargain.

Need to be careful about return and who is responsible for P&P for return etc... Buyer is responsible for import charges and they are not refundable normally.

DK

REALLY? Interesting. I will tell her that.

I would probably make it all sales final for overseas transactions.