Help selling a ring

[petev123]

Hi Everyone!

I'm new here and not certain this is the proper forum for my question so please excuse me if it's not.

I need to sell a platinum engagement ring with 3 diamonds (see photo below), all Emerald Cuts, the largest being 3.70 carats, VVS2, H is GIA certified. The two side diamonds are of similar quality and are .7 carats.

I've been trying to determine it's value and the proper venue for selling it yet
the information I've found is all over the map.

I thought that maybe some of the members here had been through this before and I would greatly appreciate any recommendations, resources or assistance. I live in Miami so I do have the diamond center downtown but I do want to be properly armed before walking into that arena.

Thank you in advance,

Peter

 

[SimoneDi]

Hi Peter, do you have the GIA report(s)? You can post the details here, people who know more about emerald cuts may be able to chime in.
However, if I were you, I would find a trusted local appraiser: https://www.pricescope.com/appraisers/florida (PS approved appraisers) and will get a current evaluation of your ring. If they can take an ASET image, that would be helpful.
Once you gather all details and estimate current value (and bear in mind that the secondary market value that you realistically will be looking to get back will be around 20-30% off current retail market value), you can try to sell the ring via one of the following avenues:
1. Post on loupetroop and diamondbistro, then post in Pre-loved on PS
2. Cosign the ring - GOG, Jewels by Grace, LoveAffairDiamonds - all excellent vendors providing consignment services.
2.1 Actually, before you even get the ring appraised, you may find helpful reaching out to GOG - the may be able to provide you with an approximate estimate of what you will be looking to get back based on the GIA report. They are super helpful and easy to communicate with!
3. You can list the ring on ebay, but be weary of scammers!

You have a large diamond and my personal opinion is that in your case the best option to sell will be through consignment as most buyers will be looking for better buyers protection, more information, return options, etc.

Best of luck!

 

[petev123]

Hi Simone,

Thank you for your reply. Here's the GIA

 

[SimoneDi]

Ok, you will need to resubmit the stone to GIA for a new report as well..1999 is a wee bit out of date

 

[Austina]

What a beautiful ring, good luck with your sale.

 

[Wholovesskunks]

Ok, you will need to resubmit the stone to GIA for a new report as well..1999 is a wee bit out of date

Ah! So after so long the reports are out of date and you need a new one?

 

[SimoneDi]

Ah! So after so long the reports are out of date and you need a new one?

Most buyers would look for a recent report, it will definitely help the sale.

 

[canuk-gal]

HI:

You are one of the few people who actually have the original certification! Good for you. Here is a list of appraisers in Florida.

https://www.pricescope.com/appraisers/florida

An appraiser can provide valuable information on the condition of the ring and provide an appraisal for resale purposes. I would do this first and ask if they would recommend a re-certification.

cheers--Sharon

 

[EvaEvans]

Your GIA report is just fine, what you need is to find a good appraiser. GIA trained appraiser will tell you if you need new GIA report. Unless the diamond is not damage, your GIA report is OK. The appraiser will also valuate the ring based on the current market value.

 

[denverappraiser]

Start with an appraiser but the path almost certainly is going to lead to GIA. What you’re looking for here is advice, not grading. You know the grade (probably). By the way, GIA doesn’t train appraisers, they train gemologists. They don’t have so much as a single class in appraising. When you’re shopping for an appraiser, check their credentials, talk to them on the phone and flat out ask them if they can help.


The reason the path is going to lead to GIA is that the any buyer with sense is going to demand it. This is an expensive stone and the ONLY way to defend a VVS2 clarity grade is with the GIA paperwork. A tiny amount of damage will drop you to VS1 or even VS2 and any stone that’s been on someone’s finger since 1999 has had plenty of opportunity. The difference is many thousands of dollars.


The reason to start at the appraiser rather than going directly to GIA with it is because GIA will only accept an unmounted stone for grading. Someone has to first take it out. It’s not that this is especially difficult but you want a professional inspection FIRST. If there’s damage, it’s likely you’ll want to consider repairs, another area where professional advice may be helpful.