I also think that sometimes people are naive about how much retained value there is in jewelry. They think that there is a huge amount of inherent value in the diamond and the gold/platinum, and forget that they paid a 50 - 60% markup on these things when they paid retail. It factors into their asking for only a few hundred dollars under appraised value, as they forget that appraised value is only an estimate of retail replacement cost, and not an appraisal of what an item is actually worth on the second hand market. The reality of what an item will sell for on the second hand market is only what someone else is willing to pay (and there tends to be a huge psychological factor in buying something preloved, with expectations of 40 - 50% off the retail price being a part of that).
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