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Am I being greedy?

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rllicero

Rough_Rock
Joined
Jan 16, 2015
Messages
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First time poster needs some help. I bought a ring a while back and the proposal didn't work out. Now I am trying to get back what I paid for it but offers are much lower than expected and I want to check to see if my expectations are too high or if I just need to be more patient. Here are the stats:

Round Brilliant Cut
Color: I
Clarity: I-1
Carat: 1.68

Set in white gold and flanked by two round brilliants that are a half ct. each and I-1 I-J

The stone is not certified but was appraised by a reputable jeweler. When I took it to a different jeweler she told me it looked better than the stats suggest so I am guessing it is well cut but don't know. Any help would be much appreciated!
 
What are you asking?

eta: it is usually pretty uncommon to get full value back in resale. I'm not sure where you purchased it, but you might have better luck returning it there if it's still 'new'.
 
Hi, Sorry I didn't specify in the original post. I purchased the stone on craigslist and am looking to sell on the secondary market. Trying to figure out what I could realistically expect to sell it for on Consignment, Craigslist, Pricescope etc.
 
First of all, how much are you hoping to get for this ring?

If you try to sell to PS'ers (the venues to use would be diamondbistro.com or loupetroop.com), you'll likely have to sell at a significant discount because the diamond does not have a certificate from one of the trusted labs. The "I-1" clarity will also work against you, but it would help to know what type of inclusion is driving the I-1 clarity rating. For example, it might be something that's primarily visual, or is hard to spot and easily hidden by a prong, or it might be something that would make the diamond prone to damage and hard to re-set. You might be able to get over some buyer resistance if you can post good macro photographs so potential buyers can see the extent of the inclusions. I'm not sure how much getting a cert will run you - you can look up both GIA and AGS price schedules, though... as I recall the certification cost for a stone of that size is less than $200. Remember that you'll also incur the cost of having the stone removed from its mounting, and shipping both ways. You could probably get the ring appraised by a good independent appraiser for $150 or less.

Have you considered idonowidont.com? It's a consignment site for engagement rings and other wedding-related stuff. I believe one of their services is that they provide an appraisal that you can use in your advertisement, as well as dealing with the shipping etc. for you.
 
rllicero|1421431517|3817495 said:
Hi, Sorry I didn't specify in the original post. I purchased the stone on craigslist and am looking to sell on the secondary market. Trying to figure out what I could realistically expect to sell it for on Consignment, Craigslist, Pricescope etc.
Click to expand...
Craigslist + no GIA report = BAD NEWS :!: how much did you paid?.. :Up_to_something:
 
I would not try ebay, especially if OP is a newbie. He would be a scam magnet. I can tell you from experience, that trying to sell it to jewelry stores/pawn shops will get you about 30% of retail.

As far as getting an independent appraisal, in my experience it was a nonfactor. All that matters to jewelry shops/ pawm shops is what the inhouse gemologist/grader says.

Also know that Ido/Idon't charges a fee (I believe 30%) for their service.
 
ruby59|1421439931|3817618 said:
I would not try ebay, especially if OP is a newbie. He would be a scam magnet. I can tell you from experience, that trying to sell it to jewelry stores/pawn shops will get you about 30% of retail.

As far as getting an independent appraisal, in my experience it was a nonfactor. All that matters to jewelry shops/ pawm shops is what the inhouse gemologist/grader says.

Also know that Ido/Idon't charges a fee (I believe 30%) for their service.
Click to expand...

I think the suggestion was just to use eBay to see what comps. I agree. EBay can be tricky.
 
I went to the Jewelry Exchange website to check out what a comparable center stone would run retail, with very good cut/symmetry/polish, looks like they are selling for around $7k, and half carats with comparable stats but excellent symmetry are going for around $900, add a setting, maybe another $1k. Assuming retail price for a ring with these stats is about $9k, considering the lower color and clarity present and no reputable documentation for the stones, I'd say you'd probably be looking at getting 50-60% of that.

The second hand jewelry market for diamonds is tricky, and consumers are very often surprised by just how little they can actually be "worth". Good luck with your sale, I like the advice from others that it might be worth the money to get a GIA or other reputable report on the stones so you have something solid buyers can help compare to.
 
Niel|1421440324|3817626 said:
ruby59|1421439931|3817618 said:
I would not try ebay, especially if OP is a newbie. He would be a scam magnet. I can tell you from experience, that trying to sell it to jewelry stores/pawn shops will get you about 30% of retail.

As far as getting an independent appraisal, in my experience it was a nonfactor. All that matters to jewelry shops/ pawm shops is what the inhouse gemologist/grader says.

Also know that Ido/Idon't charges a fee (I believe 30%) for their service.
Click to expand...

I think the suggestion was just to use eBay to see what comps. I agree. EBay can be tricky.
Click to expand...
Correct, just so the OP can get an idea of what others are selling them for. Looking a jewelery store and seeing something similar is very different than what is on the 2nd hand market.

eta: just saw this. http://www.groupon.com/deals/gg-ca-225-250-or-275-ctw-certified-diamond-solitaire-rings with the exchange rate thats like $2500
 
Just FYI, but I'd be very careful about selling a diamond on Craigslist. A posting like that makes you an easy target - people have gotten killed while trying to sell big ticket items on CL.
 
rllicero|1421430937|3817488 said:
First time poster needs some help. I bought a ring a while back and the proposal didn't work out. Now I am trying to get back what I paid for it but offers are much lower than expected and I want to check to see if my expectations are too high or if I just need to be more patient. Here are the stats:

Round Brilliant Cut
Color: I
Clarity: I-1
Carat: 1.68

Set in white gold and flanked by two round brilliants that are a half ct. each and I-1 I-J

The stone is not certified but was appraised by a reputable jeweler. When I took it to a different jeweler she told me it looked better than the stats suggest so I am guessing it is well cut but don't know. Any help would be much appreciated!
Click to expand...

Hi,
First off, sorry things didn't work out.
Here's where you stand: In terms of actually selling the item, as has been pointed out, there's inherent danger in Craig's list.
eBay charges a whopping 10% commission on jewelry- but maybe that's one viable possibility.
Your lowest risk is walking into a place that buys jewelry from the public.
Low risk, low reward. You'd need to accept a very low price in the case of selling to a jeweler or pawn shop.

As far as what you have.....no way to say whatsoever.
if it's any sort of decent 1.68ct, sending it to GIA would be worth your time.
In your case, it's a real question because stones with no report, described as I1, are usually lower value diamonds.

If you will share what you paid, it might help to determine where you stand.
 
Thanks everyone for the help. I think I will try taking it to a local jeweler. Ebay and CL seem like a bad idea.
 
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