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Consignment tips?

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BeachGirlG

Shiny_Rock
Joined
Aug 28, 2011
Messages
110
Ok, so I've decided that consignment is the best way to sell my 3 diamond rings (RB 1.90ct H SI2 BGD re-cut, EC 1.01ct G-H SI2 with 0.70ct sides, and uncerted RB 0.56ct in semi-bezel sold to me as H SI1). I use ebay for other stuff, but there really isn't any protection for the seller anymore. And with LT and DB, I would still be a nervous wreck. So, I have sent an email inquiry to JBEG. I know they specialize in old cuts, but they do have their modern section, too.

Anywhere else I should look into? Any other tips? Should I NOT go with JBEG due to their specialty with old cuts???

For reference - [URL='https://www.pricescope.com/community/threads/my-3-diamond-rings-together-rb1-90ct-ec1-01ct-rb-56ct.170471/']https://www.pricescope.com/community/threads/my-3-diamond-rings-together-rb1-90ct-ec1-01ct-rb-56ct.170471/[/URL]
 
People seem to go to Pearlman's and GOG for consignments as well.
 
orbaya|1366308155|3429893 said:
People seem to go to Pearlman's and GOG for consignments as well.
Click to expand...


Yup I would also look into these places and see what they charge. FWIW I have had several items co-signed to JbEG for about 2 years with no movement. I have lowered the priced a bit but it seems the right buyer hasn't come yet. So you either need to be prepared to wait or to drastically change the price.
 
Therein is the rub with consignment. The average turnover time for specialty jewelry stores with their own inventory is on the order of a year. This is the curse of being a jeweler and inventory costs is a killer. As a person with a single item (or a few), this can be a serious problem because that average includes a few items that have been in the store for a week and a few that have been there for a decade. Smart jewelers tend to blow out the things that are moving poorly for them and refuse to reorder those but, since consignment items come at little or no cost to the jeweler, it may be ok with them if it sits in the display forever unless they need to use that display space for something better. The problem may be pricing, it may be fashion, it may be the wrong goods, it may be the wrong store, it may just be bad luck. It's wickedly hard to tell the difference and the secret is in vetting the jeweler on the front end.
 
I wonder how much GOG keeps when you do a consignment with them? They seem like a good choice cause they get a lot of traffic in their store, fb & website
 
Hi BeachGirl,

Just out of curiosity, how much were you looking for the 1.9? I am in the market for a center stone....

Thanks for your time! :wavey:
 
Both JBEG & GOG have definitely had a few pieces sitting for a very long time. Although I have seen some items come & go quickly at JBEG (there was a 3 stone EC just like mine that was gone in a few days). I'm not in a big hurry, but I'd rather not have them sit for a year :eek:

As for price, I really haven't figured out what a fair price should be yet...less than retail, I know...
 
Thank you for your quick reply!

Good luck on deciding on which vendor to go with. I wish I had more experience in that area, but I'll be keeping an eye out for when you decide on what to do with that beautiful 1.9! :)
 
25%???? Wow... :o
 
When I was going to consign my princess with GOG (Jon) he was going to take 5% if I decided to use the funds towards one of his stones. He takes 10% otherwise. I was lucky though and ended up selling my stone on kijiji - NOT for the faint of heart though.

Good luck!
 
I have had a few things cosigned with JbEG and nothing lasted longer than 3 months. Although I do believe I had things priced nicely. :bigsmile:
 
I think there is a range of fees with Good Old Gold depending on the item and it's value, etc. I have consigned with them once and sold the diamond several months later and am doing it again.

But I sincerely think you could sell the 1.9 stone yourself by listing on Loupe Troop. By not paying consignment, you can offer the stone for less and maybe sell it more quickly. I'd contact Neil Beatty (appraiser who posted in this thread) and see if he'd be your intermediary. He can provide confirmation to the buyer of the condition of the stone. He can hold the stone until you receive cleared payment, and then he can ship the diamond to the buyer. (I am not 100% sure if he does this service, but he might. You just have to ask and see how much it is.) That way there are fewer risks to you and the buyer.
 
Thanks, DS, I have been wondering if one of the appraisers would offer that service. I looked at DB and LT to see if anyone mentioned that in their listings, but I didn't see anything. Maybe they make arrangements to do that by email.
I just stuck my toe in the water and listed the 0.56 semi-bezel on LT. It's not worth paying consignment fees for that one.
 
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