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Estate diamond appraisal vs jeweler offer

Skrimpy

Rough_Rock
Joined
Jun 21, 2011
Messages
3
A few years ago I received a 1/2 carat diamond set in a gold ring. It was my grandfather's which he seemed to have no attachment to and it was kind of my "inheritance", if you will. My mother gave me a whole story about the diamond and how it was very valuable (she knew because it was given to her as an engagement ring 30-40 years ago). I didn't buy it so i took it for an appraisal for the insurance (this is in 2009). Guy tells me the stone is beautiful and ring in total is worth $3200 most of which is the diamond. Fast forward two years. I decide it's time to get rid of it. Jeweler tells me he will give me $300. Now, I know there is a difference between wholesale, retail, appraisal etc. but my question is, why such the HUGE difference? Something to the tune of $3K? Doesn't seem right to me. I feel like my appraiser messed up. Should I get this thing sent off for certification to get the most I can out of it, or isn't it going to be worth the 50 bucks to find out it's only worth $300? Or is %10000 really the type of mark-up that is seen wholesale to retail and should I be sticking this thing on ebay for $2-3K? I don't really know that much about diamonds, diamond reports, certifications or the market and I am not sure I want to bother learning. Too much to learn just to find out getting it certified wasn't really worth the cash when I don't really have the interest. Any help is appreciated!
Dan
 

yssie

Super_Ideal_Rock
Premium
Joined
Aug 14, 2009
Messages
20,762
Joys of inflated appraisals, private sales on the secondary market.. you're not going to get 2k or anywhere close for a used half-carat w/o any report or pedigree or famous story, esp. not selling it yourself. If it was a 0.5 GIA D IF that you'd bought brand new last week I'd guess 2k to be a realistic mark for a private sale...

Feel-good appraisals routinely "value" pieces for more than they'd retail for new, and jewellers who buy and flip used goods won't offer you more than rock bottom. Sadly the jeweller is probably far closer to jackpot in this case, if how much *you* could get for it in a sale is the question.

IMO if you don't really need the money just hold on to it - reset it into something you'll enjoy!
 

Amys Bling

Super_Ideal_Rock
Joined
Jun 25, 2010
Messages
11,025
Honestly, I'm with Yssie. This stone is worth more in sentiment than you will get in resale.
 

Skrimpy

Rough_Rock
Joined
Jun 21, 2011
Messages
3
Yssie|1308689514|2951274 said:
Joys of inflated appraisals, private sales on the secondary market.. you're not going to get 2k or anywhere close for a used half-carat w/o any report or pedigree or famous story, esp. not selling it yourself. If it was a 0.5 GIA D IF that you'd bought brand new last week I'd guess 2k to be a realistic mark for a private sale...

Feel-good appraisals routinely "value" pieces for more than they'd retail for new, and jewellers who buy and flip used goods won't offer you more than rock bottom. Sadly the jeweller is probably far closer to jackpot in this case, if how much *you* could get for it in a sale is the question.

IMO if you don't really need the money just hold on to it - reset it into something you'll enjoy!
Wow. The hardest substance on earth depreciates somehow. The diamond trade is the biggest joke. First it's one of the most abundant substances on earth but for some weird reason one of the most expensive because one company has market share and keeps supply low. Then something that the ordinary person cannot destroy, scratch, mar, break or in any way shape or form change from its original state somehow is less valuable because it isn't under glass at a jeweler. Thousands of years in the dirt unchanged but somehow my finger grease is going to devalue it. I'm floored. Depreciation is worse than with American cars. So if I sell this to the jeweler he's going to turn it over for something like 2K then? What a racket they run.
 

Skrimpy

Rough_Rock
Joined
Jun 21, 2011
Messages
3
Amys Bling|1308690191|2951284 said:
Honestly, I'm with Yssie. This stone is worth more in sentiment than you will get in resale.
That's just it. It really has none. He never wore it and only kept it because my mother gave it to him...and it didn't mean much to my mother. She received it in a marriage proposal only to walk in on her best friend sleeping with the man that gave it to her. It was really only worth money to him and my mother.
 

Dancing Fire

Super_Ideal_Rock
Premium
Joined
Apr 3, 2004
Messages
32,091
Skrimpy|1308695692|2951347 said:
Yssie|1308689514|2951274 said:
Joys of inflated appraisals, private sales on the secondary market.. you're not going to get 2k or anywhere close for a used half-carat w/o any report or pedigree or famous story, esp. not selling it yourself. If it was a 0.5 GIA D IF that you'd bought brand new last week I'd guess 2k to be a realistic mark for a private sale...

Feel-good appraisals routinely "value" pieces for more than they'd retail for new, and jewellers who buy and flip used goods won't offer you more than rock bottom. Sadly the jeweller is probably far closer to jackpot in this case, if how much *you* could get for it in a sale is the question.

IMO if you don't really need the money just hold on to it - reset it into something you'll enjoy!
Wow. The hardest substance on earth depreciates somehow. The diamond trade is the biggest joke. First it's one of the most abundant substances on earth but for some weird reason one of the most expensive because one company has market share and keeps supply low. Then something that the ordinary person cannot destroy, scratch, mar, break or in any way shape or form change from its original state somehow is less valuable because it isn't under glass at a jeweler. Thousands of years in the dirt unchanged but somehow my finger grease is going to devalue it. I'm floored. Depreciation is worse than with American cars. So if I sell this to the jeweler he's going to turn it over for something like 2K then? What a racket they run.
i doubt that he can sell the stone for $2k.
 
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