Question on Selling Diamond Ring and Aquamarine Necklace

[ZiggZag02]

Hi

I been tasked with selling a few really beautiful pieces from my grandfather and I am hoping to get some guidance on what I could expect price wise if selling to a jeweler. I have been given guidance on using Christie's for estimates as well, but they say the take 4-6 weeks to respond.

Here are the notes from the original appraisal:

MENS HEART SHAPED RING:

One (1) fourteen-karat (14kt) yellow gold heart shaped "gypsy ring holding one (1) round brilliant cut diamond weighing approximately 3.70ct. having VS clarity with H color. Replacement Value $51,000

Aquamarine and Diamond Necklace:

"One (1) ladies fourteen-karat (14kt) white gold aquamarine and diamond necklace, the center aquamarine measures 35mm x 25mm and is very clean with nice deep color. The side accents have pave set diamonds weighing approximately 1.25carat total weight and six (6) emerald cut aquamarine measuring 6,5mm x 3.8mm. The chain is a meshed flat rectangular link" Replacement Value $20,000


So far I have brought them to place the who originally did the appraisal back in 2005, and am waiting to hear back on their offer.

In the mean time, I have used the price guide on this site and it seems like the 3.7 carat diamond ring could be worth around 60-70k, so am I right to assume maybe 30-45k would be a reasonable offer from a jeweler?

I cannot find much on the aquamarine and diamond necklace in regards to value so any insight on that front would be helpful. I was told it was originally a ring worn by a 40's acress/model Carol Landis

Thanks

 

[amoline]

Wow - just wanted to say that they are gorgeous, especially the aquamarine (and had I the funds, I'd nab these up for my own mother!). interested to see what information you find.

 

[Snowdrop13]

You might be best getting the diamond properly certified, then you can make a better comparison with other stones and maybe get a better price!

 

[LinSF]

Both pieces are beautiful! I can't wait to hear what you decide on. It sounds like you have a recent-ish appraisal, but I think that technology on certifying them has changed and an appraisal might render different stats on it. On a stone that big one color difference can mean a lot price-wise.

 

[tyty333]

You need to get a current appraisal on them with specifics on how much you should expect to get if sold to a jeweler. Do not take them to a jeweler
to get an appraisal. They are biased. Take them to an independent appraiser.
https://www.pricescope.com/appraisers

I've also seen a person named Jewelrynerd on IG that does appraisals on old/vintage/antique jewelry. She seems very knowledgable.
https://www.instagram.com/jewelrynerd/

 

[ringo865]

Wowza! Nothing to add ~ just a lil lightheaded

I might need to look a a few more pics to snap out of it!!

Keep us posted. And don’t take the first offer!

 

[rocks]

I've had experience with Sotheby's and christies. My aunt asked me to liquidate some of her jewelry. The items included signed pieces from Winston, Webb, Cartier and an 11ct fancy yellow diamond and white (1ct each dvs trillians) diamond threestone.....blah....blah...blah. I had all the receipts. Some of the items were custom made for her and signed. Sotheby's appraisal was significantly less than what I actually sold the lot for.

Remove the round diamond from its mounting and have it certified. The smartest thing I did was have the yellow diamond recertified. It was originally color only. Went to GIA fancy yellow and came back fancy intense and vs1. BIG difference. The aqua will be more difficult. Can't offer any opinion there.

 

[ZiggZag02]

Thank you all for the advice, I appreciate your thoughts on this

I think my next steps are to get the diamond certified, and to see if I can get more info on the aquamarine and value.

I will wait to see what the jeweler comes back with on his price, and hopefully Christie come back with a number for comparison.

...Now no one mentioned it yet, but on another platform I was told not to leave the jewelry alone with a jeweler for them to look it over...that ship has sailed though. My father recommended I start at the jeweler he has done business with and trusts, and that's who who has the pieces now, and is attempting to sell them. Maybe someone can chime in on how bad of an idea that is, or that i'm just being paranoid. Thanks

 

[Matilda]

I don’t think it’s a bad idea necessarily I mean it’s a risk but chances of something going wrong are slim. I think it’s likely the jeweler wouldn’t want to lose his reputation by doing something dodgy.

On another note I do think that it’s likely that you will make the most by selling it at auction rather than the jeweler. Well as long as the reports come back confirming the authenticity of the stones. You have a stunning desirable collection and it’s likely that it will create a competition.

 

[tyty333]

Thank you all for the advice, I appreciate your thoughts on this

I think my next steps are to get the diamond certified, and to see if I can get more info on the aquamarine and value.

I will wait to see what the jeweler comes back with on his price, and hopefully Christie come back with a number for comparison.

...Now no one mentioned it yet, but on another platform I was told not to leave the jewelry alone with a jeweler for them to look it over...that ship has sailed though. My father recommended I start at the jeweler he has done business with and trusts, and that's who who has the pieces now, and is attempting to sell them. Maybe someone can chime in on how bad of an idea that is, or that i'm just being paranoid. Thanks

Do you have something in writing stating that he has your pieces (a receipt) and at what price you would sell them at? People leave jewelry with
jewelers all the time.

 

[Bron357]

My first question is “what % or $$$ is the jeweller taking for selling your jewellery ?”
My second question is “does the jewellery have enough “traffic” is potential clients and exposure to be able to sell these items for a fair price in a reasonable timeframe?”
So you need to get the answer to question 1 ASAP and question 2 becomes relevant if you need the proceeds with a month or two.
To achieve the best price for the diamond you must get a GIA report. No one pays $40,000 plus for an uncertified diamond these days. Without certification you will do yourself out of thousands of dollars.
You can expect pay a commission to sell. An auction house will charge you around 20% but the timeframe will be fast and you will get marketprice. You need to use a larger auction house who has fine jewellery auctions not the local auction house who sells miscellanous goods.
Even eBay charges 10% to sell.
The aquamarine necklace is tricky and will be harder to sell. Personally I think it’s more marketable as a ring, I’m estimating it’s around 50 carats. Again, a lab proper report for size etc will improve marketability and sale price. Realistically I think a price around $10,000 / $12,000 is attainable for the aquamarine necklace but it’s a far more limited market so could take a lot longer to sell for a fair price.
The jeweller will be honest ie not steal your items but he isn’t your friend. He is a businessman, he wants to make money, that’s what he does. Unless you get other appraisals / valuations you won’t know if you’re getting a fair offer / amount from him for your items. They are valuable items so don’t get short changed.
Good luck with your sale.

 

[ZiggZag02]

I appreciate the reassurances. I did get a receipt. The jeweler who has it is, to the best of my knowledge not taking a % commission, he said he will try and find a buyer/buyers and offer me a check. I presume he has a margin he wants to maintain and will offer me a $ that takes that into consideration. This company has a few stores around the country so I think the pool of potential buyers is good.

Is it awkward/unprofessional to ask for the pieces back to have them certified? Should I wait until he comes back with a price?

 

[EvaEvans]

@ZiggZag02
Is the 3.7ct diamond old/transitional cut?

Here is my opinion on your items:
First, they are amazing!
The ring has one pretty big, clean, white diamond! The heart shape of the ring is also unusual.
The necklace's aquamarine gem is AMAZING QUALITY with so desirable deep blue color!
Both items, in my opinion, are undervalued.
My advise to you:
Do not destroy, unset, modify or alter these vintage pieces of jewelry in any way!
Make at least 2 jewelry appraisals with reputable jewelers that have experience in antique jewelry. Your jewelry has vintage/antique value too!
Whatever way to sell them you choose, have in mind that the middleman has a commission: Christie's charge 30% premium, ebay has 10% seller's fee, your jeweler - unknown amount.
Do not accept any offer that you don't feel comfortable with!
Explore more options before to sell as your items are pretty UNIQUE.

 

[Bron357]

I appreciate the reassurances. I did get a receipt. The jeweler who has it is, to the best of my knowledge not taking a % commission, he said he will try and find a buyer/buyers and offer me a check. I presume he has a margin he wants to maintain and will offer me a $ that takes that into consideration. This company has a few stores around the country so I think the pool of potential buyers is good.

Is it awkward/unprofessional to ask for the pieces back to have them certified? Should I wait until he comes back with a price?

If the jewellery is currently being appraised again, that fine however would NOT be giving my jewellery to anyone to sell without a document outlining the parameters of the sale.
You MUST know what his financial remuneration will be. Would you give your house to a real estate agent and have him say “when I sell it I’ll send you a Cheque ?”. No, you’d want to know what price range he is marketing it at, what commission he is taking from the proceeds and you wouldn’t let him takes as long as he likes to get a sale.
And if he is a jeweller who sells a 3.7 carat diamond without certification he isn’t going to get full market value.
Back to the real estate scenario- would you buy an expensive block of land if there wasn’t proper documentation about the size of the land, if you didn’t know if there was solid granite under the dirt or a sewer main right through the middle, or trees you aren’t allowed to remove ? Would you take the piece of paper the real estate agent offers saying “yes, it’s 1 acre, it has a few trees you can’t remove but it’s a great block of land”.
So confirm with the jeweller what he is actually doing for you. Ask for an appraisal, ask what price(s) he is offering your pieces at, ask what financial remuneration he will be taking and go from there. You also want confirmation that while they are in his possession they are covered by his insurance.
If he indicates you can expect less than $30,000 for the diamond ring and $15,000 for the aquamarine necklace and you need this in writing, not verbal - I would tell him you have changed your mind about selling and get them certified and then go to Christie’s Or Sotheby’s.

 

[Matilda]

@Bron357 gave wonderful advice. These items have the potential to give back to you a large sum, it would be a shame to waste this opportunity.

 

[denverappraiser]

I agree with the above that it will almost certainly benefit you to get GIA paperwork on the diamond but I would start at an appraiser’s office. That’ll help set your expectations, which sounds like what you’re really asking here. What seem like minor issues can have a big effect both on your final price and on the difficulty of selling. This will also allow you to be insured through the process, which can be stressful for people who aren’t familiar with the issues of the industry.

The necklace looks prime for a mid-level auction. Heritage. Skinner. Bonham’s, etc. At the big dogs, Sotheby’s and Christies, it’ll get lost in the clutter. It may be worth noting that auctions cost a fair amount more than 20%. Much of the fee is charged to the buyer, not the seller, which is effectively the same thing, and there are often fees for photography, insurance, cataloging, and other things. Especially with the big names, expect more like 40%. Make sure you understand the contract before you sign. This too may benefit you to start with an appraiser who has some experience navigating the system. As with the above, setting your expectations may be a fair piece of the topic.