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jeffwright

Rough_Rock
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I hear that if you buy a preowned diamond you can get a great deal. My girlfriend and I don''t care if a diamond was preowned so I figured this is a good idea.

My questions

1. How much of a discount compared to what I would find on Blue Nile should I expect? 50%?
2. Where can I find a large selection of preowned diamonds? I did find some at idonowidont.com but I need a larger selection.
3. What are the dangers or things I should be careful of if I choose to buy a preowned?

To give more perspective, we are looking for a diamond that has the following characteristics (or very similar)
2 carats
F or G color
Ideal cut (Depth 60-62%, Table 55-57%, no cutlet)
VS2 or better clarity

Jeff
 
Maybe check craigslist.

I'd protect myself and only buy a diamond with a GIA or AGS report and have an real professional appraiser who does not sell diamonds verify it matches the report.
There is a list above.
Click on Resources, than appraisers.

If you live near NYC or San Diego CA you can bring it directly to GIA yourself to verify. (or you can ship it)
I do not know if AGS in Las Vegas will deal with the public, call them.

I'd only make the sale in a very safe place, and bring friends.

I think 50% below Bluenile prices is about right.
 
Date: 3/24/2010 12:08:18 AM
Author: kenny
Maybe check craigslist.

I''d protect myself and only buy a diamond with a GIA or AGS report and have an real professional appraiser who does not sell diamonds verify it matches the report.
There is a list above.
Click on Resources, than appraisers.

If you live near NYC or San Diego CA you can bring it directly to GIA yourself to verify. (or you can ship it)
I do not know if AGS in Las Vegas will deal with the public, call them.

I''d only make the sale in a very safe place, and bring friends.

I think 50% below Bluenile prices is about right.
Click to expand...
Very good advice. Usual to pay around 30 - 50% of original cost price, a good appraiser can advise there also.
 
i have myself a pawn shop ring which i LOVE! pawn shops are great places to troll for diamonds. over the many years my hubby & i have pawn shop shopped, i''ve seen many great deals. you have to be careful though and be very knowledgeable about diamond grading and prices. best bet = diamond with a report (gia, ags are best, if the price is right, at least egl usa). the killer thing about pawn shops is the ability to BARTER!! with the not-so-great economy, a lot of these places are getting a little desparate and wanting to sell and will drop the price substantially from the "sticker price".

other excellent places:
-craigslist
-newspaper classifieds

i find looking for used/pre-owned jewellery sport! i LOVE it. if you know your stuff and are patient, you can do quite well!

and as the others mentioned, ONLY LOOK AT JEWELLERY IN A SAFE, NEUTRAL PLACE. i live in vancouver and a guy was killed after allowing someone in his home to look at his diamond ring listed on craigslist. tres scary!

have fun. it''s a great adventure. you can save boatloads!
9.gif


p.s. if you live near detroit, i can refer you to some good pawnshops there!
 
I agree with Anitabee. I''ve bought many a diamond at pawn shops. Some loose, most mounted. I''ve gotten my best deals by looking at rings that were bent, a side diamond missing. etc. Those can be cheaper than buying the center stone loose at the same place. One of the best deals I ever got was when I spotted some 1/2 carat stones and picked out 2 to make earrings with. The shopkeep said I could choose any for $300 each. I chose the 2 that looked the best in the poor light with only a cheap loupe. When I got home I took a better look and was one was an SI stone around H-I color. Decent cut, nothing special. The other looked completely colorless and I couldn''t see any flaws at all. I took that one to an appraiser and he said I have a F VVS2, excellent cut and polish.

I had to go find another half to make my earrings.....
9.gif
 
You have a poor chance of buying such a nice large diamond in such a good quality from anyone who will consider giving you a true "deal". Dealers compete to buy diamonds like this and mark-ups are not high. You''ll find very few diamonds like this available directly from estates or engagements gone bad. Even when you find one, you will have to be sure if it is represented properly and likely it will come with no right to return it, no upgrade privileges, no service, no receipt, questionable title of ownership. You can get into as much trouble as you can stand or maybe there is a remote chance that it would work out well.

I have seen a few wonderful ads on Craigslist, but how in the world will you be able to separate the good from the bad. PS: Most of them are bad deals...

Shop the vendors here and find a stone you can afford with all the privileges given to a real customer. You''ll be well served by the small added cost, the level of service and the presentation.
 
Jeff, I agree with David Atlas.
Pawn shops can be amazing places to find good buys on half carat stones, but a 2carat is a different story entirely.
For one thing, pawn shop owners generally know diamond dealers. Most will liquidate a high dollar stone pretty quickly. I know of some pawn shops that are actually pretty high quality jewelry stores.
In such cases the selling price will be fairly close ( if not equal) to a high end jewelry store.

IN terms of craig''s list, the amounts involved are high enough that security becomes a very important issue.
Go meet someone with $300 in your pocket to buy a stone, not all that much to worry about.
But I would NOT suggest meeting a stranger with thousands of dollars in cash on you.....
 
Date: 3/23/2010 11:53:55 PM
Author:jeffwright

I hear that if you buy a preowned diamond you can get a great deal. My girlfriend and I don''t care if a diamond was preowned so I figured this is a good idea.

My questions

1. How much of a discount compared to what I would find on Blue Nile should I expect? 50%?
2. Where can I find a large selection of preowned diamonds? I did find some at idonowidont.com but I need a larger selection.
3. What are the dangers or things I should be careful of if I choose to buy a preowned?

To give more perspective, we are looking for a diamond that has the following characteristics (or very similar)
2 carats
F or G color
Ideal cut (Depth 60-62%, Table 55-57%, no cutlet)
VS2 or better clarity

Jeff
Click to expand...
Jeff, what is your budget? Maybe we could have a look for some diamonds that might suit you? Are you flexible on colour and clarity at all?
 
It is hard to find a well cut 2ct with your specs on the primary market, I imagine it is near impossible on the secondary market, as the two David''s suggest
4.gif
 
Thanks so much for the replies.

I appreciate all the options cited (newspapers, pawn shops, craigslist, estates, idonowidont.com). As was mentioned, for the time strapped, these offer many challenges given the diamond I am looking for.

I take the warnings concerning safety and scams very seriously.

I especially appreciate David Atlas'' advice. One more question David, why do you think the savings would be small? Is it because it is a large high quality diamond? I ask b/c others seem to think I would pay only 50% of competitive internet retail price.

Also, if the market is so competitive for these large high quality diamonds, why do I hear stories of people having to unload their engagement ring for such steep discounts? If mark-ups on these are not high, then shouldn''t the seller be able to get considerable value for their stone?

At the end of the day, the deal doesn''t sound that great because of the risk, effort, time, lack of service that would come along with trying to find the stone I want. Buying the diamond retail falls well within my budget but I wanted to try to save 10K. Guess I will have to bite the bullet and spend the cash.

Thanks again


Jeff
 
Date: 3/24/2010 8:02:42 PM
Author: jeffwright
Thanks so much for the replies.

I appreciate all the options cited (newspapers, pawn shops, craigslist, estates, idonowidont.com). As was mentioned, for the time strapped, these offer many challenges given the diamond I am looking for.

I take the warnings concerning safety and scams very seriously.

I especially appreciate David Atlas' advice. One more question David, why do you think the savings would be small? Is it because it is a large high quality diamond? I ask b/c others seem to think I would pay only 50% of competitive internet retail price.

Also, if the market is so competitive for these large high quality diamonds, why do I hear stories of people having to unload their engagement ring for such steep discounts? If mark-ups on these are not high, then shouldn't the seller be able to get considerable value for their stone?

At the end of the day, the deal doesn't sound that great because of the risk, effort, time, lack of service that would come along with trying to find the stone I want. Buying the diamond retail falls well within my budget but I wanted to try to save 10K. Guess I will have to bite the bullet and spend the cash.

Thanks again


Jeff
Click to expand...

High quality, well-cut 2ct stones come from specific vendors specializing in cut quality, for the most part. Often these vendors stand by their goods with lifetime guarantees and buyback and upgrade policies that allow their customers to save more money by working through them rather than trying to sell for a huge loss on the conventional second-hand markets - one of the perks of selling high quality goods is that there's always a market for a nice diamond even after it's been returned. Which means that there's a dearth of well-cut used diamonds floating around on craigslist, ebay, etc., and for those few owners who know they have a high quality diamond, they're not going to settle for average prices since they know their diamond is worth more than that.
 
surprisingly some pre-owned wedding dress web sites also have section for pre-owned engagement and wedding band rings. so, try those.
 
Just to clarify my earlier post, it''s my opinion that there is an interesting opportunity in purchasing a preowned Tiffany - I have seen them go for about 60% of the original retail, so given the original Tiffany markup, you can buy a preowned Tiffany with similar specs as a "new" non-Tiffany stone, and you can have the ring resized, polished or reset. This option may not be for all, but I think there is some inherent value in purchasing a Tiffany resale - i.e. if you need to resell, you can resell for a higher price than a non Tiffany stone even though you may have paid the same (since you are buying the Tiffany pre-owned).
 
I think you can find a great second hand brand name engagement ring - ex. eBay for Tiffany. But if you are looking for a quality RB that would be harder. Many great vendors offer trade in and upgrade policies - great stones that come from great vendors will go back to them. Rare chance that they pop up on the secondary market. I think in all my years on PS .. I only recall hearing once or twice that an amazing GOG or WF RB was sold second hand.
 
Date: 3/24/2010 11:30:00 PM
Author: CharmyPoo
I think you can find a great second hand brand name engagement ring - ex. eBay for Tiffany. But if you are looking for a quality RB that would be harder. Many great vendors offer trade in and upgrade policies - great stones that come from great vendors will go back to them. Rare chance that they pop up on the secondary market. I think in all my years on PS .. I only recall hearing once or twice that an amazing GOG or WF RB was sold second hand.
Click to expand...

I just snagged two secondhand Eightstars, a 1.10 and a 1.57 from the same vendor. I've looked around and don't think there's another used one anywhere.
 
I don't know about large diamonds but I bought a smaller diamond on craigslist ( .57) and saved about 50% of what I would have spent at Bluenile or some place like that. I would do it again.
 
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