Diamond resale price

[coopernex]

Hi, I have an EGL USA diamond ring with details as follows:

Weight 1.40 ct.
Shape Round Brilliant Cut
Color G-H
Clarity I2
Measurements 6.89 - 6.88 x 4.50 mm in six prong setting
Id card has appraisal value of $7550. I paid close to it. I am looking to resell it. I know it is not the best stone but what can be good way to sell it. if I take it to local jewel or a chain store what should be a good price to expect? please help. thanks in anticipation

 

[ame]

You won''t get anywhere near what you paid for it unfortunately....look into consignment.

 

[coopernex]

What should I expect. I am sure it will be way less but i need an approx. number. Tell me more about consignment.

 

[Diamondsbybree]

You could try craigslist.org classifieds. You could list it for sale.... Then there is ebay... Or consignment, which normally costs around 40% of the final sale of the purchase.

 

[denverappraiser]

coopernex,

It''s a bit unusual for EGL-USA to give a color range like that. This would suggest that the document you''re describing is not one of their grading reports although it may be one of their other products. Are you sure that it''s EGL-USA that issued the report?

Neil Beaty, GG ISA
Independent Appraisals in Denver

 

[newenglandgemlab]

To put things into perspective, why not stop into a retail B&M establishment and see what they may be willing to offer? Your stone is going to be a tough sell and the offers will reflect that. There is always more value in quality. Hopefully you will learn for the next time around. How about a trade in? Sometimes that will give a retailer more to work with. Just a suggeston, Cindy

 

[coopernex]

Thanks for advice, can you tell about any B&M in particular you think for example.

 

[Diamondsbybree]

First, I would try the place you where you purchased the diamond. Maybe they will let you trade or give you a store credit.

 

[AdaBeta27]

I found this rough guide on either this board or diamondtalk.com and never seem to find it with Search when I look, so I''ll re-post it:
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1. RESALE TO THE PUBLIC (through the classifieds):
Wholesale to wholesale plus 15-25%
2. RESALE TO FAMILY & FRIENDS (through word of mouth):
Wholesale to wholesale plus 15-25%
3. RESALE THROUGH A MAJOR AUCTION HOUSE (on short term consignment):
Wholesale neighborhood
4. RESALE THROUGH A LOCAL AUCTION HOUSE (on short term consignment):
Wholesale neighborhood
5. RESALE THROUGH A LOCAL JEWELER (on mid term consignment):
Wholesale neighborhood
6. RESALE THROUGH INTERNET AUCTION (through short term listings; Ebay):
Wholesale to wholesale minus 10 to 25%
7. RESALE TO A KNOWLEDGEABLE ESTATE DEALER (for cash outright):
Wholesale minus 35 to 60% (usually 40-50%)
8. RESALE TO A PAWN SHOP (for cash outright):
Wholesale minus 70-80%

The above figures are for a guide only, and are not set in concrete. Many factors will enter into how much you get. Top among these is proper documentation (major lab reports, professional appraisals) and patience. Desirability of the piece is a big factor. A "primo" Art Deco piece or "in demand" diamond will sell quicker and for greater value than a "out of style" or "poorly made" clunker.

If you''re interested in another jewelry item, you also have the option of trading in your piece on another. Jewelers vary widely on how much they offer for trade in value, but many will offer in the wholesale neighborhood for pieces which they like.

Rich, Independent GG Appraiser
Sarasota Gemological Laboratory
www.sarasotagemlab.com