Better to sell or trade in?

[shinythings]

I''ve done some searches in this forum about whether or not it is better to sell a stone outright or use it for a trade in. There seems to be answers on both sides-any more opinions? I live in new york city if that helps.

I decided I don''t want my .71 RB stone anymore and have taken it to GIA to get graded. My boyfriend and I will be buying an engagement ring early next year, so I''m wondering if it''s better just to trade it in. I think we''ll be buying from Good Old Gold or Engagement Rings Direct.


Thanks for the help!

 

[Rod]

Date: 8/30/2006 11:27:07 AM
Author:shinythings


I've done some searches in this forum about whether or not it is better to sell a stone outright or use it for a trade in. There seems to be answers on both sides-any more opinions? I live in new york city if that helps.

I decided I don't want my .71 RB stone anymore and have taken it to GIA to get graded. My boyfriend and I will be buying an engagement ring early next year, so I'm wondering if it's better just to trade it in. I think we'll be buying from Good Old Gold or Engagement Rings Direct.


Thanks for the help!

You're right there are two sides to this question. It depends on whether you find a vendor willing to take your stone in trade and how much they'll give you. But be advised that they will not give you the full value of the stone, nor should they. They'll have to put it in their inventory and hope they can recoup their investment. You could sell the stone, but people buying used diamonds expect to pay about 1/3 of it's value, so trading may be the easier option. It's like trading a car. You can advertise a used car and entertain a parade of interested shoppers, or you can drive it to the dealer and take the hit, but save so much time and hassle.

Since you're becoming engaged, and since you'll likely never get the true value of the stone, if the stone is nice, you might want to consider turning it into a pendanct and saving it as something to pass along to your children one day.

Just a thought, but good luck with whatever you choose to do.

 

[shinythings]

I''m pretty sure I''d rather get a better engagement stone than keep this one, and thought I''d compromise by keeping the art deco setting to pass down to any children.

A pendant is a great idea in case the stone really isn''t worth much-thanks!

 

[Stone Hunter]

If it''s a really old ring it may be more valuable in the setting. You could possibly sell it that way. Or keep it in the setting to pass down. If it''s not really old I like the pendant idea.

Of course you might get so little money that keeping it to pass down would be better. Who did the ring belong to? Do you want your children to have some connection to them?

 

[Cehrabehra]

Date: 8/30/2006 11:27:07 AM
Author:shinythings


I''ve done some searches in this forum about whether or not it is better to sell a stone outright or use it for a trade in. There seems to be answers on both sides-any more opinions? I live in new york city if that helps.

I decided I don''t want my .71 RB stone anymore and have taken it to GIA to get graded. My boyfriend and I will be buying an engagement ring early next year, so I''m wondering if it''s better just to trade it in. I think we''ll be buying from Good Old Gold or Engagement Rings Direct.


Thanks for the help!

so... I went back over your old threads and was wondering a couple things... one, I was curious how far off the GIA cert and appraisal were... and two... got any pictures of that YG HW yet? hehe

 

[shinythings]

The appraiser said the setting was from the 1940''s. It''s a ring that a third cousin or something bought for herself. Mostly it shows me that I''m not the first one in my family to be obsessed with diamonds!

I do think I''d feel bad not passing on the setting, but if it really is worth a lot more as a package maybe it would be worth it to put that into an engagement ring. Here''s a pic if you''re interested.

 

[Rod]

I'm betting you won't get much of anything for the center stone. If the ring is really that old and virtually antique, I would put it in a safe place and pass it down to someone in the family as it is.

EDIT: Meant to say it's pretty too!

 

[asscherisme]

I agree with Rod. First, its pretty

And second, I would not take apart an antique ring. You may regret it one day. If it was from an ex, OK different story. But its a family ring. Albiet distant family, but still family.