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Can anyone advise me on ring sale please?

J

julia_girl

Rough_Rock
Joined
Aug 14, 2007
Messages
23
I have to be careful how I post this because I am aware that I can't sell/shill rings on PS and that is not the point of this post. Mods if you have any issues with this post just let me know/delete it.

I have had a diamond ring for sale for almost a year at the jeweler I bought it from (not my engagement ring from earlier posts). It is appraised by the jeweler at about $24.5k . That includes the setting which was originally about $5-6k. The rest is the HOF diamond stone. My jeweler originally told me he could sell it within 3-4 months but its now been about 8. He originally was selling it for $21.5 and I would get 70% of that. He mentioned to me that if I needed the money quickly he could maybe buy it back from me but not at what I am expecting to get out of it at this point. That gave me the feeling that perhaps he isn't really trying that hard to sell it bc he's hoping he'll get a good deal on it eventually. I might be wrong though. I haven't tried to sell it myself bc I've never used ebay and I am scared to meet people in person about it on my own. Also, he is a HOF dealer and I just felt that if people were willing to spend the money they would want the service from him etc...its a beautiful ring but at this point I just want rid of it. I was hoping for about 10-12 k out of it but I would prob take $8 now. Before I go and offer him this deal or try to sell it in the paper, am I making a bad mistake and what are my chances of selling it quickly at this price? What price target would you recommend? I figure if I cut out the middleman someone else will get a great deal.
Any advice would be appreciated...I got stuck with this ring after my ex took me to the cleaners and used it as a way to pay me back partially (even though I paid for half of it myself in the first place). Its a painful reminder of him and what an idiot I was, and I just want to get rid of it and hopefully someone else gets a beautiful ring they couldnt otherwise afford at a decent price and some enjoyment out of it.
 
I think there is a conflict of interest because he is certainly going to want to sell his own stock over yours. HoF is problematic to sell on the secondary market because the diamonds are marked up so high. Fortunately, maybe for you, diamonds have gone up recently so you may be able to get more than you could have a year ago if you price it well.

Can you tell us what the weight, color, and clarity of the stone is?

I would definitely look at Jewels by Erica Grace. A lot of people use that site to sell newer and old pieces and I do think their commission is less.

http://www.jewelsbyericagrace.com/
 
You could also try Pearlman's. I'm not sure what their commission rate is but they seem to sell a decent amount of estate jewelry.
http://www.pearlmansjewelers.com/

You're definitely not going to get back what you paid, but I certainly wouldn't sell it for $8k-that seems way too low. I know there's a big mark up on HOF but I'm assuming it's not that big. If you post the diamond specs (color/clarity/carat weight) that would help so it could be compared new stock prices. That would give you some ideas on what you could sell it for.

Good luck and please keep us posted!
 
Thank you for the responses. I will call Erica Grace.

I gave the HOF booklet with all the specs to the jeweller, but if I recall correctly it was just over 1.2 carats, I color and I believe but may be wrong on this one it was vvs2 (I remember the clarity was high).

I realize there is a huge markup on HOF stones...knew this when I chose it, but the diamond was so much more sparkly than any of the other diamonds we looked at that we chose to spend the money on it. I wasn't aware of the PS vendors back then, so I havent seen those to compare, but we had looked at other stones at Tiffany's Burks etc. I had to go down in color to go up in size, but considering I went in there wanting no less than an E I was pleasantly surprised at what a difference cut makes.

The setting is also completely covered in micro-pave except for the part underneath my finger.

I am not expecting to get anything like we paid for it back. My ex owed me over 20k, and thus he felt this was a fair deal :naughty: I realize jewellry doesnt hold its worth so that is not an issue for me...I was only ever expecting to get maybe 12-13k for it after the jeweller took his cut. The diamond actually has gone up in value since we bought it (didnt know this was possible). Right now, I just want to sell it as fast as possible.
 
julia_girl|1306604710|2932547 said:
Thank you for the responses. I will call Erica Grace.

I gave the HOF booklet with all the specs to the jeweller, but if I recall correctly it was just over 1.2 carats, I color and I believe but may be wrong on this one it was vvs2 (I remember the clarity was high).

I realize there is a huge markup on HOF stones...knew this when I chose it, but the diamond was so much more sparkly than any of the other diamonds we looked at that we chose to spend the money on it. I wasn't aware of the PS vendors back then, so I havent seen those to compare, but we had looked at other stones at Tiffany's Burks etc. I had to go down in color to go up in size, but considering I went in there wanting no less than an E I was pleasantly surprised at what a difference cut makes.

The setting is also completely covered in micro-pave except for the part underneath my finger.

I am not expecting to get anything like we paid for it back. My ex owed me over 20k, and thus he felt this was a fair deal :naughty: I realize jewellry doesnt hold its worth so that is not an issue for me...I was only ever expecting to get maybe 12-13k for it after the jeweller took his cut. The diamond actually has gone up in value since we bought it (didnt know this was possible). Right now, I just want to sell it as fast as possible.
Click to expand...
A Whiteflash ACA in that size/color/clarity is going for around $10k. I don't think you're going to get $12k on the secondary market.
 
suchende|1306623144|2932711 said:
julia_girl|1306604710|2932547 said:
Thank you for the responses. I will call Erica Grace.

I gave the HOF booklet with all the specs to the jeweller, but if I recall correctly it was just over 1.2 carats, I color and I believe but may be wrong on this one it was vvs2 (I remember the clarity was high).

I realize there is a huge markup on HOF stones...knew this when I chose it, but the diamond was so much more sparkly than any of the other diamonds we looked at that we chose to spend the money on it. I wasn't aware of the PS vendors back then, so I havent seen those to compare, but we had looked at other stones at Tiffany's Burks etc. I had to go down in color to go up in size, but considering I went in there wanting no less than an E I was pleasantly surprised at what a difference cut makes.

The setting is also completely covered in micro-pave except for the part underneath my finger.

I am not expecting to get anything like we paid for it back. My ex owed me over 20k, and thus he felt this was a fair deal :naughty: I realize jewellry doesnt hold its worth so that is not an issue for me...I was only ever expecting to get maybe 12-13k for it after the jeweller took his cut. The diamond actually has gone up in value since we bought it (didnt know this was possible). Right now, I just want to sell it as fast as possible.
Click to expand...
A Whiteflash ACA in that size/color/clarity is going for around $10k. I don't think you're going to get $12k on the secondary market.
Click to expand...

Thanks Suchende...it is a HOF diamond, and that does include a designer micropave setting but I am tending to agree with you at this point. That's why I am likely going to offer it for less even though the diamond alone is appraised at about 17k if I remember correctly (I can't remember what the breakdown between the diamond and setting was, but total was $24.5) .
 
You might get a better deal setting it separate from the setting. I'd price the center at 2 or 3K under what a BGD signature would go for to make it attractive. And sell the setting separate. Can you post a pic of the setting? I want to see if it would be worth separating the two.
 
Gypsy|1306627410|2932753 said:
You might get a better deal setting it separate from the setting. I'd price the center at 2 or 3K under what a BGD signature would go for to make it attractive. And sell the setting separate. Can you post a pic of the setting? I want to see if it would be worth separating the two.
Click to expand...

Thank you Gypsy...I don't have any clear close up photos of it myself, but the jeweller took lots. I could get them from him. It is a split shank micropave ring. That is a good idea to separate the two, but seems like a bit of hassle. I understand though that whoever is willing to spend that amount of money on a ring probably wants to choose their own setting. I looked at the BGD ones you mentioned and it seems like they sell for about min 7k so I don't think 8k for the entire thing is too high. Perhaps I should ask my own jeweller if separating the two is an option.
 
Unfortunately, most jewelry appraisals are drastically exaggerated, so there is no possible way the diamond is worth $17,000. I also checked and $10,000 for a new 1.2 ct., I VVS2 Hearts and arrows stone is the current price new. So $7000 for the stone and a little more for the setting could get you the $8000 or so. I would absolutely leave it in the setting for now but tell Erica Grace that you are willing to sell them separately if you get an offer on the diamond alone. Good luck to you!
 
diamondseeker2006|1306637606|2932841 said:
Unfortunately, most jewelry appraisals are drastically exaggerated, so there is no possible way the diamond is worth $17,000. I also checked and $10,000 for a new 1.2 ct., I VVS2 Hearts and arrows stone is the current price new. So $7000 for the stone and a little more for the setting could get you the $8000 or so. I would absolutely leave it in the setting for now but tell Erica Grace that you are willing to sell them separately if you get an offer on the diamond alone. Good luck to you!
Click to expand...

Thanks DS...I might be a bit off as to how much the diamond and ring were separately from the total appraisal, but I don't think the setting would have gone up as much in price as the stone and I know the setting was originally about 5-6k before tax. I think you have to remember that there is a big increase in price for the HOF stones compared to other hearts and arrow brands. Whether that price is justified or not is up to the consumer; for us, it was. The stone itself is over 1.2 carats and very high clarity. The diamonds in the band take the tcw to over 2 but can't remember the total exactly. So that is why i feel the stone is def worth more than 8k with the setting, and probably even alone. I also had another jeweler look at the ring before I gave it back to my original jeweler and his estimated appraisal was above $20k also. I realize appraisals are exaggerated though, and no one really wants a ring from a broken relationship unless they are getting a very good deal! lol :)
 
It's not just that. Your appraisal is for replacement value. What it would cost if you lost your ring and had to replace it with a NEW ring at RETAIL prices. You could very well have to pay 20K to get an identical set to yours at retail prices.

But used rings are not going for retail. And while someone might not what that stone for an ENGAGEMENT RING because it is from a break up-- they might want it for a necklace and not care about the history. As for the setting there are lots of colored stone lovers that spend a lot of money on high quality setting for their multitude of RHR and they won't care about the history either. THat's why I said to consider selling them separate. Because while someone might be uncomfortable with the ring as an engagement ring... someone who is looking for another piece of jewelry might snap it up.

There are some die hard Hearts on Fire fans on here. You never know when one of them will want a new piece.

I agree with DS about keeping them separate but be willing to sell them apart if you get a nice offer. Best of both worlds.

The other thing you should consider is that most folks don't go for high clarity. If someone can get a 1.2 carat I Vs2 that is eyeclean... at a lower price, then they will likely do that. So it is the Hearts on Fire name that is the draw. The high clarity, in this case is a liability because it's something you paid for that doesn't really recoup its value. A VS1 and a VVS1 look the same to the naked eye. And a well cut SI1 with white inclusions can look the same too. And save the buyer a ton of money.

Best of Luck. I think Erica Grace is a good route to go!
 
Gypsy...thank you very much. I never actually thought about it that way, and that does make sense. I will def consider selling the two seperately.
I am one of those die hard HOF fans you speak of...I actually considered keeping the diamond myself and putting it in another ring or pendant, but at this point it just makes me more sad to look at it than anything.
 
I agree with keeping the ring intact but being willing to sell the items separately if someone is interested in either one. I think JBEG would be a good choice. In order to sell it quickly though you are going to have to price it where the buyer is getting a good deal. If your not in a big rush, start out priced a little higher and give yourself a realistic time frame for it to sell. You can always lower the price or tell them you'd be open to accepting offers. Best of luck!
 
All the replies are much appreciated, thank you. My brother-in-law has offered to sell the two either together or separately on ebay for me, as he has sold a lot of stuff before and has a 100% rating (unlike me who has never used it!). His last sale was a motorcycle so he has experience with higher-priced items. So I am going to talk to my jeweler today and tell him I am looking into alternatives. I will also call Erica and see what she has to say.

:)
 
Julia, just a thought. If I were looking to spend $10k on a ring or diamond, there's no way I'd buy from an individual seller off of ebay. However, I definitely would buy from Erica Grace because I know they would be mediating the deal between buyer and seller. It would seem much safer to me as a buyer.
 
What about selling it through I Do Now I Don't ? HAs anyone had experience with this company?
 
I agree with what everybody else had said - to go through Jewels by Erica Grace. They are a very well known and reputable vendor here.
 
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