Diamond Resale Value

[Diane231]

Hi! I am thinking about selling my wedding ring to raise some cash. It is GIA certified. We had it appraised at $10,865. What can I expect to get if I sell it? I know this question depends on a lot of factors, but can you give me a general idea?

Thanks so much!

-Diane

 

[ladykemma]

you''ll get about 3K for it, tops. sorry.

 

[bar01]

Inflated appraisal most likely. Use the search tool at the top of this page to see what a 1 ct D SI-1 Diamond is selling for (retail) these days. Not sure about setting you have. Wholesale costs are less then retail - Richard offers some good info Here

 

[aussiegirl23]

As a clueless question Lady Kemma -- why?

If you try to sell just the diamond - is it somehow considered less valuable since it''s used? has anything phyiscally changed with the diamond, or is that just how it goes?

thanks,

Aussiegirl : p

 

[Modified Brilliant]

Hi Diane,

I would shop around and get several "offers" from jewelry buyers in your area. This will help you to establish what the market is currently paying. Keep your expectations low and you won''t be disappointed. A dealer will want to buy your diamond for well below what he normally pays a wholesaler or manufacturer otherwise there''s no sense in buying from the public. If a friend or family member is interested, that''s a better route to go. Good luck!

www.metrojewelryappraisers.com

 

[littlelysser]

You also might want to try to sell the ring back to the place you bought it.

My sister is going through a divorce and sold her ering back to the jeweler from which she bought it (paid around $5000.00) and he gave her the purchase cost minus about $500 for it...

 

[ladykemma]

Date: 6/30/2006 9:37:11 AM
Author: aussiegirl23
As a clueless question Lady Kemma -- why?

If you try to sell just the diamond - is it somehow considered less valuable since it''s used? has anything phyiscally changed with the diamond, or is that just how it goes?

thanks,

Aussiegirl : p

did a quick search on d si1 stones of 1.09 carat. they came up with a retail value of 6k.

a business person marks up his merchandise 3 times, to pay for rent, expenses, insurance, payroll, travel, benefits, and social security.

I change my "offer" to about 2 grand. which is about what she''ll get. Now do you see why I buy "used"?

the setting is worth scrap.

 

[mrssalvo]

Have you considered consigning the stone? You normally can get a bit more than selling it out right. I have sold rings on consignment both locally and with Pearlmans Jewelers. My local guy split with me 50/50. Pearlmans only takes 15% which I liked even better. The others are right though. it's difficult to sell a diamond and get anywhere close to what you paid

oh and Welcome to Pricescope

 

[denverappraiser]

Date: 6/30/2006 9:37:11 AM
Author: aussiegirl23
As a clueless question Lady Kemma -- why?

If you try to sell just the diamond - is it somehow considered less valuable since it's used? has anything phyiscally changed with the diamond, or is that just how it goes?

thanks,

Aussiegirl : p

It’s not the diamond that’s different, it’s the dealer. People prefer to buy from established merchants for a variety of pretty good reasons, not the least of which is that they are a lot easier to find, they often add features like trade up programs and guarantees and it’s a lot less risky overall. As a private seller, this is your competition and the only advantage you have is that you’re able to accept a lower price. How much lower you will need to go depends on who you’re selling to and how skilled a merchant you are.

Weight, clarity, color and lab name is not enough information for most sensible buyers. If that's all they can get, they will assume the worst about everything else and make their bids accordingly.

Neil Beaty
GG(GIA) ISA NAJA
Professional Appraisals in Denver

 

[londonblue]

i''ve been seeing this question come up a lot about diamonds, so i was just curious if anyone knows, what is the expected resale value on colored gemstones like sapphires or rubies? what about untreated/unheated ones? and what about natural colored diamonds?

 

[oldminer]

Appraised retail values go from high mark-up to deep discount range. One cannot estimate the liquidation value of an item by the appraised "retail" value. There is too much variation in these numbers. One thing you can count on is that you will get a lot less than full retail, unless the seller feels some sort of obligation and relationship will continue to exist either with you or your family. Some retailers can be very generous with their best customers. Other retailers may not be kind at all.

Few dealers who buy for cash, immediate payment, would give regular wholesale cost on a diamond, let alone a retail price. They need to buy for a price below wholesale so that they can make a rather quick, small profit. Let a few people make a bid. You will quickly see how the situation unfolds. Unless you are very lucky, it won''t make you especially pleased.

All luxury items are like that. You pay top dollar new and take low buck used. The wealthy can afford to dump last year''s fashions and replace them with this year''s latest things. The person of more moderate means takes last years fashions from the discount store and wears them until they wear out. It costs a lot less to be less current when it comes to luxury items. People who buy estate jewelry and second hand diamonds get a better value, but the merchandise is not "new". It is a trade off they choose to make.

 

[Dancing Fire]

Date: 6/30/2006 9:52:09 AM
Author: ladykemma

Date: 6/30/2006 9:37:11 AM
Author: aussiegirl23
As a clueless question Lady Kemma -- why?

If you try to sell just the diamond - is it somehow considered less valuable since it''s used? has anything phyiscally changed with the diamond, or is that just how it goes?

thanks,

Aussiegirl : p

did a quick search on d si1 stones of 1.09 carat. they came up with a retail value of 6k.

a business person marks up his merchandise 3 times, to pay for rent, expenses, insurance, payroll, travel, benefits, and social security.

I change my ''offer'' to about 2 grand. which is about what she''ll get. Now do you see why I buy ''used''?

the setting is worth scrap.

not these days.that was 30 yrs ago.

sooo...are you saying diamond vendor''s cost is $2k for a GIA D SI1 1.09 ct stone?

if yes,send me a dozen.

 

[denverappraiser]

Date: 6/30/2006 3:31:18 PM
Author: londonblue
i''ve been seeing this question come up a lot about diamonds, so i was just curious if anyone knows, what is the expected resale value on colored gemstones like sapphires or rubies? what about untreated/unheated ones? and what about natural colored diamonds?

Selling colored stones in the secondary market is even harder than selling diamonds. Customer expectations of resale value are considerably more inflated and colored stones are much more subject to damage through normal wear. Also, there are far few dealers who even pretend to understand what makes one more valuable than another and so they protect themselves by bidding low on everything.

Neil Beaty
GG(GIA) ISA NAJA
Professional Appraisals in Denver

 

[redrob]

Do a search on Google for sell diamonds, you will get a ton of adverts for dealers looking to purchase along the right side.

Contact them all and see what you get, I''m bet you will get more than ladykemma''s 2k offer.

 

[Apsara]

Date: 6/30/2006 9:45:09 AM
Author: littlelysser
You also might want to try to sell the ring back to the place you bought it.

My sister is going through a divorce and sold her ering back to the jeweler from which she bought it (paid around $5000.00) and he gave her the purchase cost minus about $500 for it...

This is likely where you''ll do best. Consignment at a reputable local jeweler is also an option but you''ll get less usually. eBay and the like may or may not pan out--buyers are often looking for rock bottom bargains there.

As a rule, diamonds are not investments, but in a market where costs of nice goods have gone up, you may do better. That is why the original jeweler may buy the stone back for almost what you paid--he knows he can sell it now for 20% more. Good luck.

 

[spyder16]

Can we get some stats on the diamond. have you figured out what it is going for now?