Help Me Sell My Diamond

[blood_donor]

Hi,

I'm SO glad I found this forum... after posting this question to a non jewelry form I frequent, and getting some less than helpful answers.

My dear practical wife wants to cash out her engagement stone, which she rarely wears, and put the money into the kids teeth

Specs are 1.44ct F VS2, VG polish, VG symmetry, Medum flourescence. GIA Cert. It's a large looking very sparkly stone.

So I took it to a local dealer, and he offered me $6,000 for it (obviously, waaaay less than I paid for it years ago).
Next I had an internet broker offer me $6600 for it, and also offered to list it on RAPnet for me, for a $200 fee plus commission if it sells. The broker indicated a fair price for RAPnet (wholesale?) would be $10,500.

Sooooo... my questions.

1) Is this a reasonable path, to sell it via broker on RAPnet? Assuming they are reputable, it should go smoothly, yes?
2) Can anyone recommend a dealer in the SE MI area (Oakland County) who might provide the same service (list on RAPnet for a fee)?
3) In your opinion, for this type of stone, would I do better doing consignment, Craigslist, Idonowidont.com, or ???

 

[kenny]

One of many possibilities:
If you have the time sell it yourself on www.diamondbistro.com and keep all the money.
Speed and how much money you get are generally inversely proportional.

If you price it low it will sell fast.
Price it higher and it will take longer to sell.

 

[04diamond<3]

Hi. Just an FYI - if you're going to sell your diamond you can expect to get maybe 50% back. I'm currently in the process of selling mine and was offered 35% of what I paid for it from a jeweler. I currently have mine listed on diamondbistro.com from what I know its a safe place to do it and you don't pay commissions. good luck with selling it!

 

[chrono]

How about here?
https://www.pricescope.com/sell-your-diamond

Do realize that you will not get anywhere close to what the current market price is for what you have. Expect to get offers of anywhere from 30% to 50% of the current pricing. Unfortunately, that's the way it works with diamonds in the secondary market.

 

[blood_donor]

Thanks, I did fill out the form, am waiting for responses.

i am totally aware that I won't come near retail. My goal is to come as close to wholesale as is practical, because I figure that that is about as much as I could hope for. For example, if my uncle was a jeweler, (which he isn't sadly) I am sure he would sell it for me at his cost.

How about here?
https://www.pricescope.com/sell-your-diamond

Do realize that you will not get anywhere close to what the current market price is for what you have. Expect to get offers of anywhere from 30% to 50% of the current pricing. Unfortunately, that's the way it works with diamonds in the secondary market.

 

[MichelleCarmen]

Hi,
Diamond Bistro is a great way to sell. I would advise you to avoid places like CL. It seems to attract a lot of scammers and people will low-ball you to the point of frustration!

 

[stci]

Diamond bistro is the best way.

 

[mandasand]

My old e-ring was valued at $4500. I was offered $1200 from a jewelry buyer. I sold it on Craigslist for $3000. I sold the wedding band separate as well as all my other diamond jewelry. The diamond buyer actually offered me $1500 for all my jewelry. I ended up making $4500 for selling everything on my own. I used it towards a down payment on a new house (since I lost my other house in my divorce). Moral of the story - try and sell everything yourself. You may also want to consider selling the stone by itself if the setting is not classic in style.

I would consider having it appraised so that you can set a fair price. Ask for an appraisal NOT for insurance purposes. You could also plug in the specs and find similar diamonds currently for sell, and set your price based on comparables.

 

[iheartscience]

You may want to consider consignment too. My ring is for sale with Jewels by Erica Grace, and I know Pearlman's does consignment too.