Fair Price on 47th Street?

[1diamond4sale]

Should I accept an offer on a diamond that is 30% less than what I paid for it wholesale from a vendor on 47th Street? I understand that they are difficult to deal with based on everyone''s comments but the cash is there.

 

[1diamond4sale]

Just to clarify that I am not attempting to sell this diamond on this forum, just seeking advice.
I bought the diamond at wholesale price aand feel that 47th street is an easy way out to get rid of the diamond that is basically appreciating only 3% a year.

 

[Gonzodogg]

I am no expert, but getting 70% of your money back for a used anything is not that bad.
Most diamond places that I have seen give you 80% if you want to return it to them, so 70% doesn''t sound too bad to sell it.
Like I said - not an expert - just a thought.

 

[denverappraiser]

Almost every diamond dealer describes themselves as a wholesaler and their prices as wholesale. This seems to be even more common on 47th street than in most places. That said, how much you can get when you resell a diamond will depend a lot on how well you bought, the desirability of the stone you chose and the nature of the deal you are selling into. In general, selling at 70% of your purchase price is doing pretty good.

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

 

[Lorelei]

I agree too 70% is nothing to sneeze at and is a good offer.