Diamond Resale Question

[DonnaH]

Unfortunately on of my friends is divorcing and has money troubles to go along with it and must sell her custom three stone engagement ring. She does not have a GIA report but her appraisal states that all three stones are VS1-G and it appraises out at 15K (the apprasal is years old) The center stone is 1.25 and the sides are .45. Should her first step be to get the stones GIA certified? Any advice is appreciated.

 

[diamondseeker2006]

I think it will be hard to sell without having a GIA cert, but on the other hand, it might also make it hard to sell if the cut turns out to be less than excellent or very good. She might want to start with someone like a PS appraiser and then go from there.

 

[denverappraiser]

The first step is for her to get council from a competent appraiser who is prepared to discuss the resale options with her and who can inspect the stones in person. It's entirely possible that the SECOND step will be to get a GIA on the center stone but this isn't a foregone conclusion. It will depend on the details of the stone, the urgency of the deal, her skills and tolerance at selling things etc. If this is about the money, I suspect the 7 week lag time at GIA is going to be a problem for example.

Be prepared for a shock when it comes to pricing time. I don't think she'll get anything like that much and if she's expecting it to have gone up from that over time, she may be in for a surprise. Resale and retail are very different things.

 

[tenyearanniversary]

Your friend might contact Perry, the diamond concierge, from Leon Mege and see if he can help! He has helped people resell diamonds before.....

 

[DonnaH]

Thanks everyone! I did tell her to be prepared for a shocker of LOW prices. I told her about Jewels by Eric Grace but did not know Perry did consignments.

 

[Gypsy]

If you get a good appraisal and price is attractively enough... you can sell it yourself on ebay to diamond bistro and save money. Consignment of 20% or less is a good deal. Some places in my area are requiring 40%!!!!