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 » RockyTalky
»  » How to Sell an Engagement Ring
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How to Sell an Engagement Ring |
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| P: 4/9/2004 4:27:11 PM | |
mhogan Rough Rock Total Posts: 1 Last Post: 4/9/2004 Member Since: 4/9/2004 |
Hello, I most recently became un-engaged and trying to find out the best method by which to sell the GIA certified diamond and ring that I have. Could someone please direct me as to the best venue or knowledgable party/parties to speak with on this matter. All assistance and/or advice will be greatly appreciated. M. Hogan Washington, DC
M. Hogan Silver Spring, MD 20904 |
| Posted: 4/9/2004 4:27:11 PM | |
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There are 7 replies to this message. There are 7 replies on this page. |
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| P: 4/9/2004 8:39:44 PM | |
Obsessed Cut Rock Total Posts: 104 Last Post: 8/31/2004 Member Since: 2/6/2004 |
i'd say ebay or perhaps this forum. If you do some research around here, you'll find that you'll get next to nothing if you try to sell it to a jewler, who will ultimately have to sell it to another customer and make a profit. So why not try to sell it to an end user yourself. Make sure you take lots of photos of the ring, diamond, certificates, appraisal docs, etc to truly represent what your trying to sell. Don't make anything vague, since people will discount the worth of your ring dramatically. Be honest, post it here and then on ebay. With some luck, you might find the right buyer who is willing to pay a substantial portion of what the ring cost you. But expect to take a hefty loss on what you spent... most people seem to be able to sell their rings for about 40-70% of the original cost, depending on how well you made your purchase. Good Luck and sorry about your dis-engagement.
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| Posted: 4/9/2004 8:39:44 PM | |
| P: 4/9/2004 9:31:09 PM | |
moremoremore Ideal Rock Total Posts: 6,825 Last Post: 2/9/2009 Member Since: 3/15/2004 |
what i suggest is that you contact as many jewelers as you can and see if they can consign it for you....you should expect to pay a commish of 10-15%....you will lose a lot less that way than selling straight out!
______________________________ Stewart says: I'm good enough. I'm smart enough. And doggon'it, people like me. |
| Posted: 4/9/2004 9:31:09 PM | |
| P: 4/9/2004 9:39:13 PM | |
eyesoftexas Cut Rock Total Posts: 141 Last Post: 10/23/2004 Member Since: 2/28/2004 |
Just be VERY careful of this scam. You put the ring on consignment, and after 6 or so months (not sure what the time has to do with it??)the jeweler switches the stone and later tells you to take it back since it has not moved. You never sell the ring and the dishonest jewler gets a new stone. If you have very good documentation this should not happen of course and if you are dealing with an honest jeweler......
EofT |
| Posted: 4/9/2004 9:39:13 PM | |
| P: 4/9/2004 9:56:00 PM | |
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moremoremore Ideal Rock Total Posts: 6,825 Last Post: 2/9/2009 Member Since: 3/15/2004 |
Great point. You have to go to a reputable jeweler. I did!
______________________________ Stewart says: I'm good enough. I'm smart enough. And doggon'it, people like me. |
| Posted: 4/9/2004 9:56:00 PM | |
| P: 4/11/2004 6:24:52 AM | |
DavidEmslie Cut Rock Total Posts: 147 Last Post: 11/8/2004 Member Since: 2/8/2004 |
Fortunatly most jewelers are honest, a few bad apples have done alot of dammage, fortunatly its rare. Unfortunatly the cold fact of the matter is you will have to take quite a bit of a discount if you sell it, no jeweler will sell it on consignment for 10-15% as the mark up on jewelry is usualy 30-300% or more, there is no incentive to sell your jewlery over what they have normaly, ie, it wont happen. Business is business and in this economy, one will sell what is in the best interest for them to sell. Id return it if possible, but that can be difficult. Otherwise there is saving it for the next girl. Likewise you can have the stone put into a very nice mens ring for yourself. Otherwise there is trying to sell it yourself to freinds or too the public, ie Ebay, news paper, ect. Or there are jewelers and wholesalers that will give you close to what "they" would pay for it, however since often alot of diamonds in jewelers and dealers hands are consigned by larger investors/dealers, the price you offer to sell or consign at must be less than wholesale to make it worth there while to tie that kind of cash up in a stone that may sell tomarrow, or maybe next year or never. Its a risk they take on now. Its an unfortunate situation, hopefuly your purchase was made at a price only a few hunderd over the wholesale mark, and if you indeed do need to sell you will be ok, On the other hand, Debeers is starting to raise prices a bit on stones, so in your case this could be a good thing. Good luck with your endevor and choice in this unfortunate matter. I know its bleak but someone has to be honest with you about how it works.
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| Posted: 4/11/2004 6:24:52 AM | |
| P: 4/11/2004 11:23:21 AM | |
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moremoremore Ideal Rock Total Posts: 6,825 Last Post: 2/9/2009 Member Since: 3/15/2004 |
sorry- but you are wrong in saying that no jeweler will sell it on consignment at 10-15%.
______________________________ Stewart says: I'm good enough. I'm smart enough. And doggon'it, people like me. |
| Posted: 4/11/2004 11:23:21 AM | |
| P: 4/11/2004 11:24:18 AM | |
valeria101 Ideal Rock Total Posts: 14,048 Last Post: 4/30/2006 Member Since: 8/29/2003 |
---------------- If you are not in some tremendous hurry, trying to sell to an end buyer is the nicest way... Pricescope is not the only diamond forum. There's a big bother called DT (DiamondTalk) and maybe others I have no idea about as well. Sometimes it is feasible to 'trade up' the stone towards a new diamond purchase. This does not seem close to your intentions, but unless diamond e-rings go out of fashion next year, you will probably end up buying one anyway... I guess. Ana "The greatest experts are only as good as the sum total of what they have seen." [Souren Melikian] |
| Posted: 4/11/2004 11:24:18 AM | |
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