AGA Rating on an EC I'm planning to sell.

[ZhivagosGirl]

I do consider the local jewelers as viable options but others who have posted have said not to take the stone to them for appraisal if I'm going to potentially enter into a purchasing or consignment situation with them.

 

[denverappraiser]

By all means get a bid and/or a consignment offer from them. It's correct that a bid is not the same thing as an appraisal and if the point of the appraisal is to know if you should accept a particular bid, there's an obvious conflict of interest if both are the same person. I would start out at the local store and see what they have to say but no, I don't think it would be useful to have an 'appraisal' done by them.

 

[chrono]

I do consider the local jewelers as viable options but others who have posted have said not to take the stone to them for appraisal if I'm going to potentially enter into a purchasing or consignment situation with them.

I've done consignments with a local jeweller and it took a year to sell but I recouped a decent amount. An appraisal from the store would not be of any use I'm afraid. Not only is there a conflict of interest, not too many people put stock in appraisals when looking to purchase an estate piece.

 

[ZhivagosGirl]

You both have pretty much outlined my next steps - I'm taking the stone to be looked at on Tues and then another jeweler in North Little Rock at some point next week as well. After that my husband and I will decide from there. It ultimately may be that it goes back in a simple cathedral setting (as it was oringinally set) and we just hold on to it as an heirloom.

 

[kenny]

You both have pretty much outlined my next steps - I'm taking the stone to be looked at on Tues and then another jeweler in North Little Rock at some point next week as well. After that my husband and I will decide from there. It ultimately may be that it goes back in a simple cathedral setting (as it was oringinally set) and we just hold on to it as an heirloom.

Jewelers who sell jewelry are not independent.
They have a conflict of interest, so I would not trust their appraisal as a seller OR buyer.
Send it to a PS-listed Graduate Geologist, fully independent professional appraiser, who does not work for anyone but her/himself, and who does not sell anything

Actually I'd not waste my money on an appraisal.
The numbers are useless for all the reasons I outlined above.

Just look at what comps are selling for online and go a little under that.
Save your time and money.
Even if you get an appraisal from the most competent appraiser in the world you may not get anything near that price, so why bother?
Comfort level?
Instead of getting comfortable get educated.

 

[ZhivagosGirl]

I'm not getting an appraisal! I'm taking it to 2 jewelers - 1 that potentially buys/consigns and 1 that consigns. That's it. I'm going to see what they are going to offer in terms of either what they want to buy it for or list it for consignment for me. Then I'll decide if I want to take what they are offering or not. I can look at local jeweler's inventory on online - I know what the prices are. I can look at online inventories - I know what the stone is selling for - so I beg to differ I am not educated about this teeny tiny niche about stones similar to mine. End of story. It seems that I'm the only one actually reading all the posts in this thread.

 

[kenny]

I'm not getting an appraisal! I'm taking it to 2 jewelers - 1 that potentially buys/consigns and 1 that consigns. That's it. I'm going to see what they are going to offer in terms of either what they want to buy it for or list it for consignment for me. Then I'll decide if I want to take what they are offering or not. I can look at local jeweler's inventory on online - I know what the prices are. I can look at online inventories - I know what the stone is selling for - so I beg to differ I am not educated about this teeny tiny niche about stones similar to mine. End of story. It seems that I'm the only one actually reading all the posts in this thread.

You asked for feedback.
We gave it.

Now do whatever you want.
End of story.

 

[ZhivagosGirl]

Feedback that turned into a circle jerk and completely contrary what the previous "helper" posted - so yeah thanks for that. I ended "deciding" to do what my plan was before I posted in the first place.

 

[kenny]

You're welcome.

 

[Christina...]

Hi again! I'm sorry that this thread ended up frustrating and angering you. It would be so much easier if there was a 'simple' answer. As you can see from all the varying opinions that just isn't the case. I thought that I would clarify my early recommendation of using an independent appraiser, my thought wasn't that you should ask an appraiser to determine the value of your stone for insurance or any other reason, but that an appraiser would likely be able to give you important feedback as to how much you should or could potentially sell your stone for. I thought that this would save a lot of guesswork, time and (ironically) frustration for you.

Here is my thought though...Kenny mentioned in another thread not long ago, that a stone on 5th Ave in NYC will likely sell for much more than in a pawn shop in Detroit. This makes sense right? For this reason it may not be in your best interest to consign with a jeweler in your immediate local area....unless of course you live on 5th Ave. Another thought that I have about consigning with a local jeweler which Chrono touched on, is the length of time it may take to sell the stone. I'm guessing that a local jeweler is going to work hardest on selling the stone that will net him the largest profit before he recommends a stone that he is likely making a small commission on kwim? I agree though that consigning is likely the most profitable avenue to sell your stone and since you mention that you have some time on your side, this may be a really good avenue for you. But I would strongly suggest reaching out to some vendors that have heavy traffic so that your stone is seen regularly. I guess what I'm just suggesting that you shop around for the right person to consign the stone should you and your husband choose this avenue. Another positive of consigning is that nothing is preventing you from listing the stone on other sites while the stone is being consigned, thereby increasing the traffic and potential for sale.

 

[denverappraiser]

nothing is preventing you from listing the stone on other sites while the stone is being consigned

It's not unusual for consignment contracts to include an 'exclusive' marketing deal with the store where you consign it with a penalty associated with canceling the contract before some deadline. This is because they have some front end costs associated with the deal and if you consign a ring and then pick it up a week later and sell it elsewhere, they will have lost money on the deal. Stores hate that.


I'm actually a fan of working with local stores for consignment. The benefit here is that you know the people and you can even go in and check up on things over time. That and it's nice to support your neighbors. As hinted at above, not all stores to well with all things so it's good to match the merchant with the goods. Stores that do well with 1 carat total weight earrings may not do well with a 5 carat VVS pear and visa versa.

 

[Christina...]

nothing is preventing you from listing the stone on other sites while the stone is being consigned

It's not unusual for consignment contracts to include an 'exclusive' marketing deal with the store where you consign it with a penalty associated with canceling the contract before some deadline. This is because they have some front end costs associated with the deal and if you consign a ring and then pick it up a week later and sell it elsewhere, they will have lost money on the deal. Stores hate that.


I'm actually a fan of working with local stores for consignment. The benefit here is that you know the people and you can even go in and check up on things over time. That and it's nice to support your neighbors. As hinted at above, not all stores to well with all things so it's good to match the merchant with the goods. Stores that do well with 1 carat total weight earrings may not do well with a 5 carat VVS pear and visa versa.

I guess I should have made myself more clear, by also being able to list on sites such as DB or LT troop I meant simply, that the OP could list the stone with a link to the consignors site for any potential buyers to complete purchase, not that she could or should sell the stone independent from the consignor. Thank you for pointing that out, I can see how my wording would lead to confusion.

 

[denverappraiser]

No worries Christana. You rock. This thread doesn't seem to be one for harmonious understanding and you're the one who hasn't actually ticked anyone off yet. It's all good.