Didn''t turn out too well... How do I sell an expensive ring?

[WhnHarryMetSally]

I need some advice.... Big time.... Here''s the details. I recently bought an engagement ring for a realtionship that soon went sour. The ring we bought listed in the window (in NY''s Diamond district) for $46,000. After much discussion, we were offered a price of $27,000. We took the ring to an independent appraiser (also in the Diamond District) and we received an appraisal of $36,000 minimum.

We ended up purchasing the ring for $25,000. The ring is a full 3 carat round center stone, brilliant cut, G-H, VVS2, with 2 oval "fancy yellow" sidestones, each at .75 carats (4.5 carat total weight), in a 14 kt white gold engagement setting.

I have been pricing similar rings on Blue Nile, Ashford, Diamond.com, etc, and all sites are pricing a single 3 carat (without even including the two fancy yellow oval sidestones) consistenly at approx. $38,000 to $40,000.

OK.... so... what do I do? Anyone have any ideas as to how to get proceed. Someone suggested e-bay, but I would never buy something worth this much on e-bay, so why would I think someone else might? Help! ....please.

"Harry" .....
NYC / North Jersey

A picture of what the ring looks like is attached.

 

[winston]

Harry, I'm sorry to hear about your problem. I work in the industry and have seen quite a few customers confused about how to sell their jewelry. I agree with you that Ebay is tricky for this. You can try to sell to a dealer, providing a copy of your lab report. Let him or her know you are familiar with Rappaport and what you are willing to accept for the ring. If you're uneasy about this, my best advice would be to sell to another customer. If you belong to a professional or alumni organization or prestigious athletic club, let the members know what you have to sell. Having a gem lab certificate and an appraisal lends credibility and peace of mind to potential buyers. You can also have the diamond laser inscribed with the lab report number,providing added value and reassurance. Be prepared to sell the diamond separately from the ring. There are many more buyers for a high quality round diamond sold loose or in a solitaire mounting than in a three stone ring with two marquise diamonds. The shape of the side stones makes it difficult to put a band next to the ring. If you really want to move it quickly, try resetting the center stone in a simple inexpensive solitaire. Good luck! You have a nice quality diamond at a good price so take heart; you will be able to sell it!