buying second hand? best buy for your $ vs internet

[kd2120]

It seems a little unromantic but if I can get a considerably nicer ring then we'd be willing to buy a "used" ring. It seems like resale on diamonds is low is there anyway as a consumer to take advantage of this? Does anyone know of reputable places/dealers to buy "used/second hand" engagement rings at discounted prices? It seems like it would be a lot of work but if done cautiously could be very rewarding. I live in the nyc metro area I'm aware there are cons out there but there's also a high divorce rate and tough economy. How much of the "appraised" value do people actually get when reselling, pawning, or trading their diamonds? I was wondering if it's likely to find a private seller ( or whole seller) who has legitimate/certified diamonds that is willing to let me have an appraisal to inspect for damage and verify the diamond(s) match the certificate before completing the sale.

 

[Envyme]

I too have been looking at used rings for the exact same reasons. I look on ebay and craigslist. I only consider working with people on ebay that offer a return policy/full refund. As for craigslist, I would only work with someone local that is willing to meet me at a jewelry store of my choice for an appraisal by the jeweler - on my dime. I will not purchase anything that is not certified either EGL USA or GIA (preferred).

Good luck with your hunt for a ring

 

[yssie]

try pearlmans & jewelsbyericagrace, both do consignments.

 

[scepture]

I have looked at both e-bay and at craigslist, but I seem to be hesitant to seriously consider either. To start, I am hesitant to buy over the internet. The problem with both (in so far as I have found) is that often times the rings are bought from B&M at heavily inflated prices to start. So when the ring should really have originally sold for, say $10k, they end up buying it for $13k (just as an example). When they go to sell their ring on e-bay/craigslist then, they 'discount' their price to something that could possibly bought new from a good online jeweler (WF, GOG, JA) for about the same price or a bit more.

The other two actual consignment sites (jewelsbyericagrace, pearlmans) have quite a limited selection.

Long story short, I REALLY wish there was a decent online used diamond site (cough cough price scope would be a realllllllllllly good place to at least have a forum section for sales).

 

[lknvrb4]

I love to look at artdecodiamonds.com, they have some nice stuff.

 

[SB621]

I"m going to be honest here- I think for your engagment ring you should buy new. For me personally I have several estate pieces that I obviously bought used, however, my engaement ring is totally different. I personally would be horrified if I found out my DH bought a ring off of someone that was divorcing and then gave it to me- even if it was in a different setting. I don't know- call it bad mojo associated to the ring/ diamond I guess. JMO. however if you are going to look check out New York Estate Jewelers- they have an online site that has many different options.

 

[SB621]

Long story short, I REALLY wish there was a decent online used diamond site (cough cough price scope would be a realllllllllllly good place to at least have a forum section for sales).

From what I have been told members used to be able to buy/ trade jewelry on PS but this took away business from vendors who pay to advertise on PS so they don't allow it anymore....hense why there is so private messaging feature and why you can't get in touch with people via email etc. When PS 2.0 went up there was an entire thread dedicated to reviving a "market place" forum- but i dont' believe the admins ever commented on it and nothing ever happened with it. I understand why PS doesn't do it- it is a business after all, but I agree that I wish they would allow it.

 

[denverappraiser]

It seems a little unromantic but if I can get a considerably nicer ring then we'd be willing to buy a "used" ring. It seems like resale on diamonds is low is there anyway as a consumer to take advantage of this? Does anyone know of reputable places/dealers to buy "used/second hand" engagement rings at discounted prices? It seems like it would be a lot of work but if done cautiously could be very rewarding. I live in the nyc metro area I'm aware there are cons out there but there's also a high divorce rate and tough economy. How much of the "appraised" value do people actually get when reselling, pawning, or trading their diamonds? I was wondering if it's likely to find a private seller ( or whole seller) who has legitimate/certified diamonds that is willing to let me have an appraisal to inspect for damage and verify the diamond(s) match the certificate before completing the sale.

Be very careful of using ‘appraised’ value as evidence of a bargain. For starters, you know nothing at all about the appraisers tools, skills and methodology and, please bear in mind that this is a completely unregulated industry. More importantly, you know nothing about the definition of value being used. Any statement of value MUST contain an element of what it’s worth to whom, when and under what circumstances or it is of no use whatever. In most cases, seller supplied ‘appraisals’ are defining value as the highest retail price that a hypothetical jewelry store might be asking to custom make a comparable item. Bear in mind that asking isn’t the same as getting. Even if they correctly answer this question, I’m not sure it’s useful for your question. YOUR definition of value will be more like what is a reasonable expectation of the lowest price you could be expected to pay for a similar or identical item given a reasonable amount of shopping effort and a sufficiently competitive market. Do you see the difference? Unfortunately, there’s simply not a simple conversion between these two numbers because there are just to many variables in play.

In shorter answer to your question, yes, private sellers are where the best prices are. That’s also where the biggest sharks are. Be careful, make sure you are getting what you want, use an independent appraiser and watch out for your own personal security. If you do your due diligence and are willing to be patient, you can definitely do well this way.

 

[oldminer]

In my area there is a small but growing number of people seeking second hand diamonds for engagement rings. There are lots of sharks in the water, but I encourage both parties to meet at my office to allow me, as an independent party, to go over not only the quality, but the value. This works best when the deal is done in person. No one is going to send their diamond ring to a distant appraiser, so the process is naturally limited and full of pitfalls for those who choose to gamble rather than do the job correctly. Some people really prefer the task of finding the "bargain" and would love a second hand item that not only meets their expectations, but is on the money, too. Others really would not appreciate this concept at all and would think it represents a lack of love or respect for their intended's romantic feelings. Most people would be in the ambivalent middle ground with mixed feeling about the good and bad points of the process. For sure, it is not an easy, safe or pretty business buying a diamond from a stranger. A lot of safety for the consumer is given up doing a cash deal on a rather blind item with no professional advice. But, the potential to buy at a very low price is awfully tempting for some individuals, isn't it?

My own experience would make me shy away from such a deal if I was not an expert. Even as an expert I often somewhat misgrade the color and clarity of mounted diamonds in my own familiar office lighting. How well would a novice do in unfamiliar lighting, with a mounted diamond which might not even be cleaned properly, and with the pressure of a stranger keeping their eyes on me who may not have my best interests in mind while I doubt their motives for selling at the same time. This does not make a good case for being accurate or safe.

 

[slg47]

Also, it may be hard to find exactly what you are looking for second-hand. If you look at most of the second-hand websites they don't provide a lot of information for you to know if you are getting a good deal or not.

 

[anitabee]

i love craigslist and pawnshops.

i bought my lovely princess upgraded ering from a pawnshop. i have no clue who had it before me and all that does is intrigue me even more! the moolah you can save buying second-hand is truly astounding.

my sister sold her ering and band on craigslist and some lucky guy ended up paying only about half or less of what her ex-husband paid at the time he bought it.

if you're armed with knowledge (i've been lurking/posting here since the diamondtalk days) you can easily maneuvre craigslist and pawnshops.

the bottom line: IT'S SO MUCH FUN! i love it a great hobby

 

[Amys Bling]

Also, it may be hard to find exactly what you are looking for second-hand. If you look at most of the second-hand websites they don't provide a lot of information for you to know if you are getting a good deal or not.

I agree with this- second hand would work well if you are open to different cut of diamonds, as you may be limited in what you find. You probably won't be able to hunt down your "ideal" color-clarity-carat and shape in a used ring. However, I think RhubarbPie got her ring at a pawn shop- i may be mistaken but i recall someone getting a three stone EC engagment ring from a pawn show- bought it for a steal, appraisals and everything worked out to their satisfaction.

 

[makhro82]

There is a website I like called jointventurejewelry. They have some very good engagement pieces occasionally. I would not mind a second hand piece. Most of the diamonds are recycled anyway. It's whatever you and your significant other feel comfortable with.

 

[Amys Bling]

There is a website I like called jointventurejewelry. They have some very good engagement pieces occasionally. I would not mind a second hand piece. Most of the diamonds are recycled anyway. It's whatever you and your significant other feel comfortable with.

fun website!

 

[kd2120]

i've been doing my homework and the initial deprecation compared to purchase prices is to much to not explore the used market. Rings have high sentimental value to initial owners but significantly less and somewhat limited value to others. I will not be blindly buying and intend to hire an appraiser and have an open line of communication concerning the purpose of the appraisal. There are several reputable appraisers in my area who will be able to give me, as well as the seller, an accurate description of the characteristics of the ring, its condition and private resale value. If someone wants to sell their ring and didn't misrepresent any info they'd probably be willing to wait through an appraisal(s) that i'd be paying for so that they can get the most for their ring...just from a few days of searching i've already come across several rings that are asking significantly less than "truly comparable" diamonds even came across a few from bluenile and whiteflash...for me an excellent quality diamond is important not where it came from, and making a smarter economic decision in the end might outweigh buying a new ring

 

[ChloeLe]

i've been doing my homework and the initial deprecation compared to purchase prices is to much to not explore the used market. Rings have high sentimental value to initial owners but significantly less and somewhat limited value to others. I will not be blindly buying and intend to hire an appraiser and have an open line of communication concerning the purpose of the appraisal. There are several reputable appraisers in my area who will be able to give me, as well as the seller, an accurate description of the characteristics of the ring, its condition and private resale value. If someone wants to sell their ring and didn't misrepresent any info they'd probably be willing to wait through an appraisal(s) that i'd be paying for so that they can get the most for their ring...just from a few days of searching i've already come across several rings that are asking significantly less than "truly comparable" diamonds even came across a few from bluenile and whiteflash...for me an excellent quality diamond is important not where it came from, and making a smarter economic decision in the end might outweigh buying a new ring

Where did you find whiteflash diamond? I cant find any on ebay.