Help needs from UK regarding my twin 1.75crt platinum ring

[uncleluck]

First off, hello and thanks to anyone who reads this and can offer advice.

I have been given a diamond ring to sell. It's Platinum with two main diamonds each one is 1.75 carats (measured by a jeweler today) and has a 8 small diamonds set in the shoulders (4 each side)

The ring is quite old, around 30 years and was made in Hatton gardens.

Can anyone offer me advice on how to conduct the valuation and sale process? I'm in no way trying to sell this ring here at all. I have had the ring almost a year in a quandary of how to handle the sale. Even I'm aware of the different grades and clarities of the stones influencing value.

I let a pawnbroker jeweler look at it today & he said he'd give me £3k uk pounds for it. Obviously I'm not about to sell it to someone just like that but everyone I've spoken to about it just sees $$ signs and gets all chatty about how I'd struggle to sell it.

I actually wanted to send it off to a company called safeguard to have it properly checked so at least I could check online what prices are, ie if they tell me it's got two 1.75 carat diamonds at N clarity and vs? quality I can have an idea of its value.

If I posted a picture would anyone know what my best route would be? The guy today said its worthless as a ring and needed to be scrapped effectively! Now to me and everyone else that's seen it, it looks stunning and for all I know he could be BS'ing m and it's a classic design that a distinguished buyer would pay a premium for. Does this make sense?

Any advice on where to go or what to do with it in the uk would be much appreciated.

I guess even auction is an option maybe? I just don't know. Hence why I've had it nearly a year sat here.

Thanks in advance.

 

[Sparklelu]

Re: Help needs from UK regarding my twin 1.75crt platinum ri

Please post a picture. Unless it is hideous and horribly flawed stones it's not worthless. Sounds like someone wants to " help" you out.
So post as many pics as you can!!

 

[uncleluck]

Re: Help needs from UK regarding my twin 1.75crt platinum ri

Thanks for the reply. I agree regarding his comment about it being worthless as is. This is my trouble, everyone I've come accross just see's it as a chance to make loads of money out of me I'm sure. I just want the best price I can, if that means finding an auction which is specific to older jewelery, so be it.

the pics aren't great as my compact camera is shocking at macro shots, but it might give people some idea.

 

[yennyfire]

Re: Help needs from UK regarding my twin 1.75crt platinum ri

I think that you have a lovely twin ring. The stones could be rather valuable depending on the color/clarity. Check out Old World Diamonds for some comparables:

http://www.oldworlddiamonds.com/

I'd definitely send the stones to GIA for evaluation. They will have to unset the stones to grade them, but I think that it would be worth it. The grade they get will vastly change what you can ask for them. I think it's a lovely ring and based on your photos, I don't think they are N colored stones. I'm not willing to wager a guess, but they would make an amazing pair of earrings for someone if they don't care for the setting.

 

[uncleluck]

Re: Help needs from UK regarding my twin 1.75crt platinum ri

Thanks yennyfire.

My comment regarding N clarity was just an example, not what I think they may be.

 

[smitcompton]

Re: Help needs from UK regarding my twin 1.75crt platinum ri

Hi,

What a unique piece you've got. It definitly could be valuable. I do think that there are a few gem labs in Great Britain that you could take them to. Please wait for other experts to chime in. They can recommend the gem labs. You do need to have the stones graded.


Good Luck.

Annette

 

[yennyfire]

Re: Help needs from UK regarding my twin 1.75crt platinum ri

Thanks yennyfire.

My comment regarding N clarity was just an example, not what I think they may be.

Gotcha...good luck!

 

[Sparklelu]

Re: Help needs from UK regarding my twin 1.75crt platinum ri

Look we are almost twins! Mine are not the same size as each other.,
Your ring is actually quite lovely but I agree they might make killer earrings!

And my stones are cleaner than this usually!!!

 

[Rhea]

Re: Help needs from UK regarding my twin 1.75crt platinum ri

Look we are almost twins! Mine are not the same size as each other.,
Your ring is actually quite lovely but I agree they might make killer earrings!

And my stones are cleaner than this usually!!!

I'm in the UK and I my first thought was earrings! I want another pair. Please do post on loupe troop or diamond bistro is your every decide to try your selling them yourself!

 

[uncleluck]

Re: Help needs from UK regarding my twin 1.75crt platinum ri

Right, still have this but might be getting closer..

Took it to a very experienced guy yesterday who informs me the stones are over 2 carats, circa 2.3 each. And colour on initial insp is J (but obviously testing will confirm)

Also, from the cut of the stones he told me they are from around 1930! They have a small flat on the bottom apparently. Which just shows how amazing diamonds are really as they just look new.

I've left it with him and he's going to properly go over it and get back to me with a price. Trouble is it's still very hard to know what sort of value it has. I've actually found websites selling antique rings like this and the prices are incredible. Whether that means they are worthy of a good price in their own right I don't know.

Can anyone tell me what roughly it would be worth? He kept asking me what I want for it but I have a feeling it might be quite valuable. I just said to him to come up with a price he would sell it for, then work out what sort of commission he'd be happy with, take that off and that's what I want. I just want to be roughly armed when he rings me. For all I know (after looking on these antique ring sites) it could be worth £35k or it could only be worth £12k. If it was a modern piece it'd be easier to find a value but I really need the best price I can get an last thing I want to find out after I've sold it is that the diamonds are really valuable.

 

[pyramid]

Re: Help needs from UK regarding my twin 1.75crt platinum ri

I would not sell them on Loupetroup or Diamondbistro. At that size they have to be worth a lot, need to find out the colour too. You should get a proper certificate for them, I have seen Anchor certificates here in the UK and they were graded in Edinburgh. I don't think people here like the old cut as much as the USA and they are seen as far cheaper over here like they were in the USA in the past 10 years. Unless you need the money, if I was you I would keep them unless I got them graded in America by GIA and then sold them there, but only if I was living there and had time to look around. Don't know if appraisers like Dave Atlas (who is one of the best and on this forum sometimes) do anything like this, I mean searching around for a client, advising you to certificate and could tell you a good buyer. You would have to pay the apraiser. I don't think they are really worth that much in this country (UK) at this time. The cut would not matter grade wise, but they would need to be attractive which they look, the weight, size and colour would be what would give them a value. Think the ring style would not sell it as they may be worth more as two solitaires. Have you seen the extortionate settings they are setting them in on pricescope, handforged with lots of tiny little stones and the settings are around $5000 to $7000 alone. Maybe this trend will come here as I am seeing more with pave stones, not handforged though and the settings worth about $2500 in uk.

I would not use Loupetroup or Diamondbistro though without some professional advice, that is really why I am writing although from reading your posts you seem very intelligent about that sort of thing anyway.

 

[misskittycat]

Re: Help needs from UK regarding my twin 1.75crt platinum ri

Once you have had them professionally appraised, I would talk to Erica or Grace at Jewels by Erica Grace and perhaps either consign the while ring or the two loose stones. They will give you an idea of what the ring is worth whole and seperately and carry primarily antiques. That would be my starting point.

Good luck!

 

[dk168]

Re: Help needs from UK regarding my twin 1.75crt platinum ri

I am in the UK, and have used pawn-broker in the past when times were hard, and got to know one or two quite well.

We got chatting, and they informed me that the most they were able to offer on a piece of jewellery as collateral is no more than 20% (for exceptional pieces), and 10% was more typical. Gemstones did not count for much unless they were of a significant size. However, even the smallest diamond melee had a value. For gold and platinum, they would calculate the value based on weight, gold/platinum content (hence the need to test the gold), using the most up to date gold/platinum prices.

Therefore, IMHO, based on the spec of the ring as posted together with the pics, I strongly suspect the price quoted by the pawn-broker at 3k GBP is significantly under the true value of the ring itself.

This is how I went about selling some of my jewellery a few years ago.

I had the pieces valued for insurance purposes by a local jeweller, who quoted a minimum fee of 1% of the final total value of the items being evaluated, or X GBP for the entire lot.

Once I knew how much they were worth for insurance purposed, I proceeded to offer them for sale via eBay.

HOWEVER, due to being very inexperience as a seller, I got my fingers seriously burnt with listing fees without much success in selling the jewels. One can say I have learnt a valuable lesson how not to sell via eBay the hard way!

Eventually, I sold the pieces at knocked down prices to another jeweller a bit further from home when I needed the raise money urgently, and the reason for the low value offered to me was allegedly down to the pieces not being hallmarked in the UK or Europe, and they would be difficult to re-sale as they were, etc. etc...

Since then, I wised up and have successfully sold some jewellery via eBay, and even made a small profit on some, using "Best Offer" option with no reserve, and had them shipped worldwide.

For a piece as grand as the OP's ring, I would be inclined to take it to a reputable auction house and enlist their services, rather than to sell it via eBay for a peace of mind.

Not sure if the above helps, however, good luck with the sale.

DK

 

[Rhea]

Re: Help needs from UK regarding my twin 1.75crt platinum ri

I'd definitely figure out what they are and educate yourself on them and their potential value before trying to sell. Proper certificates are a good start. It makes me really sad to see the recommendations of consigning them in the US though. Us Europeans are always on PS complaining about how hard it can be get large, quality diamonds in Europe. I don't doubt that there's less of a market in Europe and I'm not saying that you should take the first offer, but whether consigning, selling directly to the public, or selling directly to the trade there is a market in the UK and Europe. I seem to recall a Scandinavian based PSer recently finally having to source her OMCs from the US and probably paying a hefty import tax because she couldn't find them in Europe.

 

[LaraOnline]

Re: Help needs from UK regarding my twin 1.75crt platinum ri

I would get the stones GIA graded, I would not go on an appraisal.
Appraisals can vary hugely.

 

[uncleluck]

Re: Help needs from UK regarding my twin 1.75crt platinum ri

Really appreciate all the help guys. I'll update next week on how I get on.

I did wonder whether it'd be a good idea to find an auction for antique jewelery.

 

[dk168]

Re: Help needs from UK regarding my twin 1.75crt platinum ri

Check out the previous jewellery auctions in London by Christie's and have a feel of the items they had accepted and sold in the past.

DK