diamond advice-to keep or sell?

[novicediamondgirl]

Good Day Everyone,

I am looking for some help regarding whether I should sell or keep a diamond ring I purchased 1 year ago. Basically, the center stone is a square/rectangular step cut/emerald cut with square corners-2.25 carats. I believe I got caught up in the quality of the stone (E, VVS2) without knowing very much about this type of cut. Although it is beautiful--it looks smaller than the carat weight (7.26 x 6.67 x 4.90) with a T to ETHK Girdle and medium culet. My husband thought I should go for it as the price seemed right but of course now I am kicking myself because it often looks dull (gets smudgy quickly) and does not seem to have the wow factor.

I have approached auction houses who have told me there is a demand for this type of ring/stone/quality. There reserve price is lower than I would like and I am not much of a gambler--Given their comments and percentage for selling-I think I could easily sell it myself and get all my money back.

Is this a good idea or am I being too picky? I would like to know that I have purchased something gorgeous that I can enjoy for many years. Every time I look at this ring I feel very foolish and get that nervous feeling in the pit of my stomach that I made a big mistake.

Am I overreacting?

 

[WindyCitySparkle]

If it makes you feel that way and if you think you could get your money back, by all means, sell it. Diamonds are supposed to make you happy, not give you a pit in your stomach. If this one makes you feel bad and there seem to be no serious drawbacks to selling it, why not sell? I would.

 

[Circe]

I don't think you have anything to lose by listing it on the Pre-Loved section here - the things that bother you about the cut might be less of a drawback for somebody who really wants the high color/clarity combination. Just take reasonable precautions - lots of scammers out there, and this sounds like a high-value item.

 

[bobamaniac]

The question is how much did you get it for and how much is it that you want? I hear that diamonds like cars loses value as soon as you drive off the lot. Can you return it to the original store and see if they have an upgrade policy?

 

[maccers]

Sounds like you would like to be rid of it. Did you send it to GIA or similar for grading? That might make it easier to sell with mor e information. Obviously we can't know if you're being too picky, we don't know what the stone looks like.

Also you said it has a culet, is it an antique cut of stone? Sounds very interesting and there could be a niche market for that, for sure. Are you hoping to make back what you paid for it?

 

[denverappraiser]

I have approached auction houses who have told me there is a demand for this type of ring/stone/quality. There reserve price is lower than I would like and I am not much of a gambler--Given their comments and percentage for selling-I think I could easily sell it myself and get all my money back.

Bear in mind that auction houses are commission sales people. They charge anywhere from 15 - 40% of the take depending on the auction house. It's also worth noting that there are routinely fees associated with submitting an item that fails to meet the reserve. This varies quite a bit between the auction houses but make sure you understand the rules of the one you're considering BEFORE you submit something for sale.

For most people, selling is difficult, but this tends to be an attribute of the people, not the merchandise. I know rather few people for whom selling diamonds at full price would be described as easy but if you're one of them, that's a very valuable skill.