Boston: Need to sell estate platinum engagement ring! Help!

[slgbug1]

Hi,

I have a platinum estate engagement ring. Center stone: .90, old european cut diamond, VVS1, J color. 3 old european cut diamonds on each side. Very brilliant, one of a kind piece. I have an appraisal for my insurance company from 2001 that says retail sale value is $8000.

Although I hate to part with it, I need to sell it.

1) How much is it realistic to ask?
2) How should I go about selling it?
3) I live in Boston

Thanks!!

 

[phoenixgirl]

Do a search on the forum for "sell diamond" and "selling diamond" and you'll see lots of threads on this topic.

Your choices are generally

Ebay/auction (people are looking for deals -- you'll need to set the reserve low)
consignment
advertize in local paper
try to sell/trade in to local jeweler

Did you purchase the stone yourself? If so, then you probably paid much less than the "retail sale value." Anyone who is going to buy from you is looking to pay much less than they could pay getting the stone from a jeweler (with all the guarantees and services that a jeweler offers). So that 8K is way off base for what someone will actually give you for it. What is the setting like? Are there additional diamonds in the setting?

I'm guessing that I could buy a 0.90 J VVS1 OEC stone for less than $3K on the internet from a reputable vendor, so if I were looking to buy one from a private person, I would expect to pay even less than that.

 

[oldminer]

Marika's Antique Shop
130 Charles St,
Boston, MA 02114

Years ago we used to go to Boston to buy and sell estate jewelry. The guys at the above place were very nice, knowledgeable and fair. Maybe they will give you an offer.

They are dealers, so they will not be able or willing to pay you a retail amount, but their money is good and they pay on the spot.

Best of luck.