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Author Topic:   Selling a diamond
leonid
Administrator

Posts: 55
From:
Registered: Jul 2000

posted 08-21-2000 04:21 PM    
I received this question by email:

------quote--------

I'm getting all kinds of info on buying diamonds. I want to sell one. What
is the percentage of the purchasing price can I expect to get if I'm selling
one? I have a round VSI .46 carat diamond I want to sell, where can I found
out how much I can expect to get for it? and, will any jewelry store buy it
from me?

Thank you for any help you can give me.
-------end of quote----

This is a really important question. We try to teach consumers how to buy diamonds but how to sell them and not to be reaped off?

I'll make some research and ask experts to help us with this question too.

leonid

[This message has been edited by leonid (edited 08-21-2000).]
 

StevL
rough rock

Posts: 9
From:South Carolina, USA
Registered: Jan 1900

posted 08-21-2000 05:13 PM    
If you sell the diamond to a jeweler you will more than likely take a pretty good hit. It's hard to say because we don't know how close you bought the stone, nor how long ago, and what grade it is.

I would suggest you finding a jeweler your Very Comfortable with. Let them try to sell it for a retail price in the up coming holiday season, and pay them a set fee.

I have done this many times for my customers, and most of the time they don't loose a dime, and every so often they make a little money. Just an option.

Good luck........

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[This message has been edited by StevL (edited 08-21-2000).]
 

leonid
Administrator

Posts: 55
From:
Registered: Jul 2000

posted 08-21-2000 08:44 PM    
Thank you Steve. That I guess would be the best and painless solution.

If in worse case there is no such a jeweler, are there other reasonable ways to sell the diamond? How to estimate its value?

Is it worth to get it certified before?

I've seen some websites that offer to buy your diamonds. Are they any better than traditional pawnbrokers?

Thanks,

leonid
 

StevL
rough rock

Posts: 9
From:South Carolina, USA
Registered: Jan 1900

posted 08-22-2000 10:18 AM    
leonid,
If the diamond is of a good quality or a larger size (3/4ct up) I would get a lab report done. This would also help to sell the diamond.

As far as how the internet buyers work, I have no idea. You know everyone chooses to do business a little different.

------------------

 

leonid
Administrator

Posts: 55
From:
Registered: Jul 2000

posted 08-23-2000 07:18 AM    
I found this site which offers to buy your diamonds and jewelry: http://www.diamondbuyers.net/SELL_YOUR_JEWELRY/About__SS_Jewelry/Selling_Policies/selling_policies.html

I will invite them to give their opinion on this question.

leonid
 

ssjewels
rough rock

Posts: 1
From:Farmingdale, NY USA
Registered: Aug 2000

posted 08-23-2000 10:47 PM    
Thank you for contacting me, I will be more than happy to help people with this question about selling their diamond.
Leonid, our company buys diamonds. We are in Farmingdale, New York but will buy diamonds from anywhere in the country. I will tell you what you are in for and you can decide which is best for you. As someone mentioned, you are going to take a hit on the stone, the amount matters on how much you overpaid at time of purchase. I buy engagment rings everyday in my store. Basically if you purchased the diamond from a reputable store you will get between 25%-33% of its appraised value(if the appraisal is a real value and not some jacked up number).
As someone also mentioned a lab report helps but only on bigger stones and not a great deal. You have 3 choices when you want to sell a diamond, 1-take what you are offered and be done with it and have cash in hand, 2-give it to someone on consignment, 3- sell it yourself.
The amount you will get depends mainly on the shape and quality, rounds are always worth more than any other shape, right now Marquise are bringing in the least. We try to give the most we can but the price is going to be a slight bit less than I can buy the diamond for wholesale. Honestly there is no reason for us or any jeweler to pay wholesale price or higher for a diamond that is not for a call but just to put in stock. If you wanted to leave it on consignment we can pay more because I don't have to lay out the money, you don't get paid until the diamond sells so if it doesn't sell for 2years it didn't cost me any money. The last thing to sell it yourself is sometimes dangerous and other times can cost you friends. If you sell it to someone you know and it doesn't get appraised for what you say you lose a friend and find it wasn't worth it. If you would like you can send us the diamond insured mail and I will give you a call or an email as soon as I receive it. Either you take the offer or I mail it back.
We are licensed, insured and bonded so you can feel safe with this transaction. You may also check us out a few other ways, the best look at our Ebay rating and see we have never had a negative comment, and we can supply references. Please call us if you have any questions 877-726-3753.
Steven

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Thanks and please visit our website at www.ssjewels.com
Steven

 

leonid
Administrator

Posts: 55
From:
Registered: Jul 2000

posted 08-23-2000 11:54 PM    
Steven, Thank you very much for your insight. I hope the person who asked this question will find this information helpfull.

leonid
 

Iceman
rough rock

Posts: 1
From:Moline, IL USA
Registered: Aug 2000

posted 08-26-2000 09:58 AM    
****First of all let me tell you were not to sell .

Don't sell it to a pawn shop or a Jewelry store. The pawn shop makes
its living off of other peoples misfortunes and wont even be close .
The next step up is a Jewelry store , now they can buy this piece of
jewelry , or gemstone, any day of the week with one phone call . So, to
make it worth their while, they will offer you half of wholesale or
cost.

*** Where to sell it

Your best bets are (1) the newspaper (2) auction house (3) one line
auction house
(4) consignment.

Before we get into this lets look at what to expect to sell them for!
First get an appraisal, this will also help sell the item. From the
appraisal, is a price where most Jewelers will sell the item. You will
never get this , and Im surprised every day that they do!
Fair Market Value is what you will get (willing buyer and willing
seller) this is usually half of a retail appraisal. That's what can be
expected from a newspaper add, The bad side is you get everybody good or
bad calling and you don't want them to come to your house, so you can
set up a meeting at a Jewelry store with a gemologist, maybe the one who
did the appraisal to have him verify it only and not take up his time,
unless you pay for it.
Auction house , everybody has one of these around town. You tell them
what you will let it go for and they will pull the product if it doesn't
reach that price. There commission is minimal.
On- line Auction house, the most famous is http://www.ebay.com there
are others. People use these a lot more then you think. You can have it
run in the paper locally and world wide on the internet.
Consignment: This is were you leave it with a Jeweler in his Estate
section case. He then has a piece of inventory to show and nothing into
it. This sometimes takes some time, but is safe.

I don't buy off the street and I buy in volume so I get great deals from
my suppliers, which if I don't like the product or don't sell it I can
return it.

I hope this helps you understand the industry a little.
The iceman


 



 
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