Help needed for selling novice!

[shickie]

Hi guys,

I'm in Australia and am shopping around to sell my no longer needed engagement ring. I have been to a couple of gold selling type places and have received quite low quotes (Highest was $3000). I'm thinking that it's going to be hard to sell my ring on eBay and Gumtree as my ring isn't particularly spectacular.

The details are: 18ct white gold, oval setting, 0.900 carat, G colour and S11 clarity.

The original jeweller has said they won't re-sell it for me. What do you think my next move should be?

Thanks!

 

[laurenk]

Hi! As a fellow Aussie that has recently done this can I ask, do you have a certificate or valuation?

 

[shickie]

Thanks for the reply, Lauren

It is GIA certified and I have the Q Report paperwork as well. I should also mention that there are 37 individual diamonds around the halo, so I thought that might up the price a little bit!

I'm going overseas for a year to work, so i'm hoping to sell the ring within the next few months.

 

[laurenk]

Fabulous!!! Now this will sound crazy but....I listed my 1.55ct princess on gumtree, so many fake interested parties and one or two genuine that wanted to offer me so much less than listed price....

Sooooo I actually visited a local cash converters store here in Brisbane to see what they'd pay.... I showed them the valuation and they were very interested. They asked me what I wanted for it and I asked what they'd pay first and foremost. Well, they made a phone call to the powers that be and offered $10k (mind you valuation was $28k but this is retail) and I actually paid maybe $13k give or take (I traded in my original stone, etc so after all the ins and outs). Well I went away to think about it.... And returned a week later and said id take $11k and they ummed and ahhrr'd. Long story short, they agreed and gave me cash straight away which I immediately put toward my new purchase.

I'd definitely try that option.... You know what you paid for it - so don't be worrying about the retail value - just try to recoup your outlay!!)

Good luck!!!

 

[shickie]

You're a champ Lauren! Thank you so much for your advice.

One question about valuation - who did you go through for that? Is that your insurance valuation? My ex kept the insurance value a secret (something about being more romantic me not knowing ...) so I only know how much he paid originally for the ring.

I have read some varying opinions on getting the ring valued, so would be keen on your advice for that too


Thanks again!

Sarah

 

[laurenk]

There are plenty of valuer a around, my valuation came from the diamond merchant I purchased my diamond and setting from. I also know that cash converters will send your piece to their own valuer however I think if you present your own retail valuation it will be better.

 

[ADN]

You're a champ Lauren! Thank you so much for your advice.

One question about valuation - who did you go through for that? Is that your insurance valuation? My ex kept the insurance value a secret (something about being more romantic me not knowing ...) so I only know how much he paid originally for the ring.

I have read some varying opinions on getting the ring valued, so would be keen on your advice for that too


Thanks again!

Sarah

Hi - I can't recommend a specific valuer (I'm in the trade and it's against forum rules to 'recommend') - but I'd suggest getting a valuation done through the 'National Council of Jewellery Valuers' - they're the main body here in Australia. Their website will have someone in your area that you can go to.
Hope this helps