Fair consignment value - need knowledgeable advice (thanks)

[Lynn123]

Would greatly appreciate knowledgeable opinions on the consignment price I should expect to receive for the following stone that I am considering selling. Have already checked wholesale value estimates which I understand are higher than what I can expect to receive. I plan to get multiple consignment quotes. Any other suggestions for negotiating a good price?

AGS 0005598704 (inscribed on girdle)
GCAL IP21129110
Round Brilliant, 1.212 cts.
6.87 - 6.91 x 4.19 mm
AGS Ideal 0 cut (ideal cut symmetry polish)
AGS 0 (D) color
AGS 2 (VVS2) clarity
Fluorescence: Negligible
Depth 60.8%
Table 57%
Girdle: Medium, facet
Culet: Pointed
AGSL and GCAL grading reports
GCAL optical brilliance: Excellent
GCAL optical symmetry: Excellent

 

[Ellsbebc]

Re: Fair consignment value - need knowledgeable advice (than

I have read that GOG's consignment rate depends on the desirability, price, etc. of the stone. A lesser stone might have a higher consignment rate vs. a more expensive stone with a lower consignment rate. A few members have quoted GOG as charging 10% consignment if a cash deal or only 5% if you use the funds to purchase a diamond directly through GOG.

GOG allows you to set your own price, within reason. This thread is an abundance of excellence knowledge and a personal experience with GOG consignment (hopefully Kenny does not mind): [URL='https://www.pricescope.com/community/threads/gog-consignment-excellent-experience.190030/']https://www.pricescope.com/community/threads/gog-consignment-excellent-experience.190030/[/URL]

Here is a comp over at JA: http://www.jamesallen.com/loose-diamonds/round-cut/1.18-carat-D-color-VVS2-clarity-Ideal-cut-sku-73520

 

[Lynn123]

Re: Fair consignment value - need knowledgeable advice (than

Thanks so much!!! I will contact GOG. Considering getting an updated appraisal to help with pricing. Would be interested if Kenny (or others) see this and have additional comments.

 

[diamondseeker2006]

Re: Fair consignment value - need knowledgeable advice (than

Your stone can be consigned and sold at retail prices if you are willing to wait for the right buyer. I sold an AGS 000 stone through GOG on consignment and it was about a 10 percent fee if I was spending the credit there, which I was. We priced my stone close to retail but a little less to make it competitive with other stones available. I will tell you that mine was VS1 which made it slower to sell so you might see that as well. If your AGS report is old, it might be worth your while to get a new one done through GOG so that the buyer has an up to date report. I think my stone took about 9 months to sell. When the person made an offer, we did come down a thousand or so off the listed price. So overall, I maybe cleared about 80-85% of the current retail value of the diamond. It is much easier to do this with ideal cut stones.

Oh, and you don't need to waste money on an appraisal. Jon can easily look up the price for you.

 

[tyty333]

Re: Fair consignment value - need knowledgeable advice (than

Thanks so much!!! I will contact GOG. Considering getting an updated appraisal to help with pricing. Would be interested if Kenny (or others) see this and have additional comments.

I think an updated appraisal is not needed. You have an AGS000 stone. You can see what they are selling
for on line. You can ask vendors like Gog what they think would be a reasonable price to ask for it so
that it sells realitivly quick while maximizing sells price.

Have you considered putting it up on the pre-loved diamond forum? Its a lot of money so I can understand
If you are leary going that direction.

I would only do an appraisal if you can find someone who is very familiar with the resell market and
consignment...otherwise I think you can get the information you need from the vendors you
are considering.

 

[Christina...]

Re: Fair consignment value - need knowledgeable advice (than

I agree with the others that you don't need an appraisal, but you mentioned updating the report....do you know what year it was graded? AGS changed their cut grading metric in 2006 I believe and some stones that were previously consider AGS 0 suddenly were not after the changes. Of course Jon will be able to determine this for you.

 

[Lynn123]

Re: Fair consignment value - need knowledgeable advice (than

OK. Sounds like I can hold off on an updated appraisal but may need to update my 2004 AGS report. Will try to speak with Jon at GOG first. Not sure whether I'd be comfortable with the pre-loved diamonds forum...... would have to look into that. I have the diamond insured so one of my questions for GOG (or maybe my insurance company) will be how that works while they have a consignment diamond in their possession prior to sale. I am in no hurry to sell and would rather wait for a better price.

Thanks, all!!!!

 

[Christina...]

Re: Fair consignment value - need knowledgeable advice (than

I think Jon will be very helpful. Resubmitting a stone for grading can pose its own risks, such as if the lab determines that the cut, color or clarity is lower....which can happen if it was a borderline call the first time around. As you can imagine a drop in any of these areas can have a significant impact on the price you can get for the diamond. Once Jon is able to evaluate the stone properly he will be able to offer you the best advice. But resubmitting the stone may not be the best option.