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Guidence needed: upgrade dilemma

shicara

Rough_Rock
Joined
Dec 15, 2007
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66
Hello diamond lovers and experts! I am in need of your advice and opinions.
Im almost in a lucky positon in that, my Husband has agreed to upgrade my current engagement diamond for something a little bigger And/or whiter.

The store at which we purchased my engagement ring doesnt buy back her diamonds and so i would need to sell it myself. The two places I have enquired at are pretty much both offering half the purchased price....is this right? That would mean the upgrade costs way more than originally thought as theres the half remaining on mine per say and then an additional whoop for the next diamond.

Its made an almost very exciting 'yes' from the husand bittersweet as we didnt think the loss would be so great.

What is the best way to sell a diamond without losing too much. Some loss is understandable, but 50%? Would love to hear other experiences with this. Kindest Thanks
 

the_mother_thing

Ideal_Rock
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:wavey: Unfortunately (and in general), diamonds are not a great ‘investment’ in terms of being able to get all/most of your money back unless your original purchase was with vendor who offers a great upgrade program, or you have a very well-cut diamond capable of commanding a better-than-half price on the pre-owned market. Have you considered just keeping the current diamond and having it set in a pendant (e.g., ‘close to your heart’) vs. trading/selling it, or is the trade/sale a contingency of your ability to upgrade?

Depending on the cut, GIA/AGS report, etc. you may be able to get a more than 50% more for it, but possibly less. What are the specs of your current diamond? Do you have a GIA or AGS report for it? From where was it purchased? Just note that if you have an appraisal, most times those amounts are over-inflated for insurance purposes, so I wouldn’t rely on that as any sort of legitimate bargaining/pricing of the diamond. One way you can check current/actual retail price (so you can adjust expectations and pricing from there) is to put your diamond’s specs in the diamond search function on PS, or Blue Nile, James Allen, etc. and see what comparable diamonds are being sold for at retail. Some cuts actually have come down in price from where they were a few years ago, so while you might have paid “X”, that same diamond could be selling for less at retail today, and the ‘preloved’ pricing would likely be even less yet.

A couple of options for resale, you can post it in the preloved section of this forum with pictures & details/specs, but you’ll need to link to a listing for it also on a website like Loupe Troop, DiamondBistro or eBay, where potential buyers can contact you (there is no PM functionality on Pricescope, and you’re not allowed to post your person contact details for your own security).

Good luck! We’ll definitely be here to help when you are ready to consider upgrade diamond options, and help steer you toward the best diamond for your budget.
 

lovedogs

Super_Ideal_Rock
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It depends a lot on the cut/specs of your stone. 50% is a reasonable ballpark if it's not a great cut or sought after size/shape/color. Sadly diamonds are a very bad "investment" bc resale is so low.
 

shicara

Rough_Rock
Joined
Dec 15, 2007
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66
Thank you so much for your responses thus far.
It is a 2ct oval, SI2, F colour.
I have not much idea of its popularity but it is a little heart breaking to understand the loss.

I do also have an old Tiffany solitaire round 1.2 carat. That drops much more than 50% simply because of their markup to begin with. Even trading in both of these rings with such big losses means we still have to pay up a significant amount for the upgrade. It’s almost not worth it.

Is it worth keeping them ? I don’t wear that much jewellery but I do like a nice big ring which is why the idea of upgrading seemed so good. But I almost feel like a sucker giving them away.

Thoughts/Opinions here ?
 

kal2021

Brilliant_Rock
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585
I would try selling on loupe troop or diamond bistro. If you can afford to keep them and still get your upgrade then that’s even better! But you will get more selling them privately than to a store.
 

the_mother_thing

Ideal_Rock
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Is it worth keeping them ? I don’t wear that much jewellery but I do like a nice big ring which is why the idea of upgrading seemed so good. But I almost feel like a sucker giving them away.

Thoughts/Opinions here ?

As much as the appeal of a larger diamond would be nice, and we could certainly afford to go bigger than what I currently have/wear, I just don’t feel like it’s something that would fit in with our lifestyle, and I probably wouldn’t get much wear out of it because of that. And because - personally - I’m just not comfortable wearing something on my finger that costs as much/more than a new car. So personally, having found my ‘sweet spot’ size that does work for our lifestyle (~7mm), I like having a few options to change things up when I want to look at something different for an e-ring. I have a MRB and and OEC, and am currently on the hunt for an asscher. So that end, if I were in your shoes and didn’t like the idea of taking such a huge loss on what you have, I’d probably keep them and just find another optional e-ring style to add to the mix. Now, if you don’t think you would EVER want to wear the Tiffany or oval you already have, then there’s no sense in holding onto them. But only you can decide that.
 

kal2021

Brilliant_Rock
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What does everyone think is a reasonable percentage to pay individually for a preloved piece? As in, if a store is offering 50% what do you think you could get through say loupe troop? Maybe 70%? Just curious
 

sledge

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I actually think the Tiffany may command a little higher resale value if you place it on eBay or the likes. That is a popular brand name that people seek and consider a status symbol. Also, the fact it's over the 1 carat mark I think will make it desirable.

You may still be unhappy with the end result. But perhaps the Tiffany will command 70% of initial purchase price, whereas the other only gets 50%. Not saying these percentage are correct, but moreso illustrating my point that I think you may be able to squeeze a little more from the brand name piece.

I am sorry you are learning this now, instead of early on. This disappointment factor is a major reason why many vendors don't take trades. It puts everyone in an impossible situation to feel satisfied and not ripped off. Unfortunately, diamonds are just a poor performance investment vehicle unless you perfectly time the market to buy in a slump and sell at a peak. And if you are that good, please do it on Wall Street where riches will be way more bountiful.

In the accounting and finance world, the money you spent on your existing jewelry is what we call a sunk cost. If you choose to look at this scenario as a financial analysis and less emotional it may help you overcome the feelings you have. If you can accept 50-70% is about average, then it will enable to capture those dollars and move on with your big picture objective.

For these reasons and more, many buyers choose to work with select vendors that offer them excellent trade-in policies and/or buy back programs so they never have to face this financial dilemma.

What kind of stone was you hoping to purchase? What is your maximum out of pocket cash you can spend? What was your initial costs and what was you hoping/expecting to gain from them? And is 50% a real figure, or ballpark? Who from?

Maybe with this new information we can piece together something for you. :cool2:
 

the_mother_thing

Ideal_Rock
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What does everyone think is a reasonable percentage to pay individually for a preloved piece? As in, if a store is offering 50% what do you think you could get through say loupe troop? Maybe 70%? Just curious

I think that really depends on too many factors to have a ‘blanket’ guesstimate. Branding, quality, demand, etc. all play into it as well as even things like the time of year. For example, trying to sell something preloved right after Christmas or just before school starts up when a lot of people may not have much discretionary income to spend due to tuition, books, uniforms, school supplies, etc. can factor in to how ‘close’ to retail they’re willing to pay for a preloved piece.
 

kal2021

Brilliant_Rock
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585
I think that really depends on too many factors to have a ‘blanket’ guesstimate. Branding, quality, demand, etc. all play into it as well as even things like the time of year. For example, trying to sell something preloved right after Christmas or just before school starts up when a lot of people may not have much discretionary income to spend due to tuition, books, uniforms, school supplies, etc. can factor in to how ‘close’ to retail they’re willing to pay for a preloved piece.

Fair points!
 

bludiva

Ideal_Rock
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What does everyone think is a reasonable percentage to pay individually for a preloved piece? As in, if a store is offering 50% what do you think you could get through say loupe troop? Maybe 70%? Just curious

A branded piece can get up to 80% of retail from what I've seen...assuming perfect cobdition and iron-clad documentation. Usually a bit less. But good chance the Tiffany piece could fetch more in a p2p sale. I imagine the stores get the diamonds at 50% off retail to begin with so I could see how they may not be able to offer more but a direct sale could be a win-win.
 

kal2021

Brilliant_Rock
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A branded piece can get up to 80% of retail from what I've seen...assuming perfect cobdition and iron-clad documentation. Usually a bit less. But good chance the Tiffany piece could fetch more in a p2p sale. I imagine the stores get the diamonds at 50% off retail to begin with so I could see how they may not be able to offer more but a direct sale could be a win-win.

I agree a branded piece like Tiffany should get a better return than others. I’ve only recently started looking at the PS preloved forum and I’m trying to get a feel for what can of discounts I can expect to see on PS vendor pieces.
 

the_mother_thing

Ideal_Rock
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A branded piece can get up to 80% of retail from what I've seen...assuming perfect cobdition and iron-clad documentation. Usually a bit less. But good chance the Tiffany piece could fetch more in a p2p sale. I imagine the stores get the diamonds at 50% off retail to begin with so I could see how they may not be able to offer more but a direct sale could be a win-win.

I would agree with this (that the Tiffany will probably command a higher return than a non-branded item).

@shicara I might suggest starting with selling the Tiffany piece privately, see what you get from that, then decide if you still need/have to sell the oval and try, or you may find you keep it if the loss would be too great to sell it.

Then you can decide on your upgrade options, and yes you may need to reset your expectations about requirements (e.g., may need to go with a lesser ct weight than originally planned to stay in budget, or perhaps wait & save more for the budget to get the desired specs).

But I would say - get that Tiffany available NOW and get it posted in the preloved section AND listed on LoupeTroop, DiamondBistro, eBay, consign it with Love Affair Diamonds and/or Jewels by Grace, etc., but make sure you have all your paperwork authenticating it to get the most back (too many knock-offs out there so people are legitimately cautious when it comes to brand shopping).

It’s coming up on Valentines Day, and a lot of people may be in the market for a preloved piece that has some brand provenance to propose for V-day!
 

Matilda

Shiny_Rock
Joined
Oct 30, 2018
Messages
467
Oh don't despair! Have you enjoyed wearing them in the past years? If you feel uncomfortable selling with a loss do you have children that might enjoy them in the future?

Anyways here is a VERY VERY rough idea of what the Tiffany ring could potentially sell for:

https://www.1stdibs.com/creators/tiffany-and-co/jewelry/rings/engagement-rings/

https://www.richdiamonds.com/product-category/branded-jewellery/tiffany-co

You could also see what local jewellers tend to sell rings for.

Best of luck!!
 

Jelly88

Rough_Rock
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Nov 28, 2018
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I went through something similar and totally understand how you feel. I’m ready to upgrade my engagement ring, but the highest offer I got for my stone was ~75% of the purchase price. Due to that and the sentimental value, I decided to keep it and will repurpose the stone into something else. For my upgrade, I probably won’t go as big as I originally wanted, but I’m planning to go with a vendor who has a really great upgrade policy so that I can get my final dream ring in the future.
 

HappyNewLife

Ideal_Rock
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Depending on how well the diamond is cut (no terrible bowtie, sparkly, etc) and whether the inclusions are visible to the naked eye, I'd expect you could get about 60-70% back for your oval. Tiffany probably more like 75-80%
 

Paul-Antwerp

Ideal_Rock
Trade
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2,859
Good advice offered here. And OP's story clearly underlines how important and valuable upgrade-policies and buyback-policies are. Even if you do not intend to use them, they indicate how much that vendor values the product they are selling to you.

I would beg for one important realization though. Many people wishing to upgrade or sell-back are negatively surprized when they realise they will get less, sometimes far less than what they originally paid. And they translate that as if they are losing a lot of money there and then, now actually.

The reality however is that they did not lose these sums when they started enquiring about an upgrade or a buyback. Not going forward with the upgrade is not going to take away that loss, either. In reality, they lost that money at the point in time of making the initial purchase. When they walked out of the door of the jeweler, with no upgrade-policy in hand, with no buyback or just a limited one in hand, that is the point in time where they lost the money.

That should probably serve as a wake-up-call to not repeat that mistake.

Live long,
 

motownmama

Ideal_Rock
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How long ago did you buy the Tiffany? You have all the original documentation?
 

the_mother_thing

Ideal_Rock
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Good advice offered here. And OP's story clearly underlines how important and valuable upgrade-policies and buyback-policies are. Even if you do not intend to use them, they indicate how much that vendor values the product they are selling to you.

I would beg for one important realization though. Many people wishing to upgrade or sell-back are negatively surprized when they realise they will get less, sometimes far less than what they originally paid. And they translate that as if they are losing a lot of money there and then, now actually.

The reality however is that they did not lose these sums when they started enquiring about an upgrade or a buyback. Not going forward with the upgrade is not going to take away that loss, either. In reality, they lost that money at the point in time of making the initial purchase. When they walked out of the door of the jeweler, with no upgrade-policy in hand, with no buyback or just a limited one in hand, that is the point in time where they lost the money.

That should probably serve as a wake-up-call to not repeat that mistake.

Live long,

:clap: Excellent points, Paul!

Another way to look at and consider the potential ‘loss’ is that the owner/wearer also got X number of years’ enjoyment out of the diamond. I think about it like a car (c’mon @sledge ... help me out here LOL). You buy a brand new car for X amount, and you drive it for a couple years. Then one day you’re itching to get something newer, faster, bigger (or smaller/sportier), etc. Do you expect to sell your ‘used’ car for exactly what you paid for it upon buying it? Of course not. The caveat being that some vehicles do tend to hold their value better than others, and therefore will do better come resale time assuming you’ve maintained it, no wrecks, etc.

I think diamonds are the same in a lot of ways. Buying a diamond that ‘holds its value’ (and taking care of it) is a great idea so that - when it’s time to upgrade - you stand a better chance (note, I didn’t say ‘guarantee’) of getting more return on that transaction (note I’m not calling it an ‘investment’) to go toward the next one. It’s for this reason I wholeheartedly agree with the prosumers on here who encourage new diamond buyers to start ‘small’ if need be for their budget with a great vendor like HPD, WF, etc. who offer outstanding upgrade programs for their buyers for the outstanding quality diamonds they offer. Good luck finding THAT kind of upgrade program with a car dealer!
 

Matilda

Shiny_Rock
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Oct 30, 2018
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467
:clap: Excellent points, Paul!

Another way to look at and consider the potential ‘loss’ is that the owner/wearer also got X number of years’ enjoyment out of the diamond. !

I think this is a great attitude!! What is done is done, can't go back in time, it is out of OP's control now. At the end of the day the ring served a function and has been used well.
 

shicara

Rough_Rock
Joined
Dec 15, 2007
Messages
66
Thank you to all who have responded. Very touched by everyones time to share advice and time with me.
The Tiffany ring was given to me a very long time ago. There is no GIA, nor an inscription number on the diamond itself, but only the paperwork provided and certificate from the store. Its a real dazzler, but... i did reset the diamond in a different setting and so i am unable to sell it as a Tiffany diamond ring (although i also have the setting), only a Tiffany diamond.

As for my oval, im going to try and set it in a new setting and see if that satisfies my upgrade wish for now and maybe work on my diamond budget for the upgrade a little later. My current setting is a plain solitaire band. Maybe lots of pave diamonds added to the band in true Jean Doussett style will help me and my patience.

Was I absolutelly silly in removing the Tiffany diamond from its setting? I feel so foolish now.
 

nala

Ideal_Rock
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Can you post pictures?
 

Wewechew

Ideal_Rock
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Unfortunately taking apart the Tiffany ring most likely brought the diamond’s resale value down to a non branded diamond with similar specs.

I purchased a Tiffany diamond (minus Tiffany paperwork) from someone and when I tried to resell it, it didn’t matter that the diamond had originally been from Tiffany’s since it was no longer in the setting.

Good news is that you have two beautiful diamonds you can enjoy :geek2:
 

PreRaphaelite

Ideal_Rock
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Another option for the oval would be to add a Halo to make a bigger statement piece, which may tide you over for a while until your next upgrade. Many of us love a halo and there are some really beautiful options out here for how to do it. You might go really bold and have a real showstopper.

I agree that the Tiffany ring should really stay in original condition if you want to keep as much value as possible. Also you might wish to consign it rather than sell it yourself - there are pros and cons either way you sell. Ion the meantime, we would all love to see photos if you would like to share!
 

ringo865

Ideal_Rock
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If you still have The original Tiffany setting, you could have Tiffany put their stone back into it. Then you could sell it intact as a Tiffany ring.
 

kal2021

Brilliant_Rock
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Dec 21, 2010
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585
Like others have said if you do want to sell the Tiffany I’d have it put back in the original setting. Otherwise it’s not the same unfortunately. Post photos of everything for us! An oval in a halo would be gorgeous! I actually prefer ovals with halos most of the time. :)
 

shicara

Rough_Rock
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Dec 15, 2007
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E5FB643E-0AC6-43BF-858D-62E1363FCA6B.jpeg D6878263-BB09-4DFE-AB6F-CE0C5AB6FE5E.png AC9583A7-3F95-4411-9536-7F8085C789A4.jpeg Thank you to all for your responses. I’ve attached the photos of the diamonds in questions. The ring on top is the setting I placed the Tiffany diamond in. As you can see she is crazy white, even for a G colour. The oval is an F.
What are your thoughts on these diamonds ?
 

Dancing Fire

Super_Ideal_Rock
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E5FB643E-0AC6-43BF-858D-62E1363FCA6B.jpeg D6878263-BB09-4DFE-AB6F-CE0C5AB6FE5E.png AC9583A7-3F95-4411-9536-7F8085C789A4.jpeg Thank you to all for your responses. I’ve attached the photos of the diamonds in questions. The ring on top is the setting I placed the Tiffany diamond in. As you can see she is crazy white, even for a G colour. The oval is an F.
What are your thoughts on these diamonds ?
Can you post the documents of the Tiff stone?
 

shicara

Rough_Rock
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Dec 15, 2007
Messages
66
Of course. Here it is :

2DF50574-504D-4733-B34C-7714A12E7F09.jpeg
 
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