Help! Well.... I goofed!

[GirlwithGems]

I was watching an online jewelry auction (for a much less expensive piece) and accidentally hit bid on this ring! I was relieved that someone bid higher until they retracted their bid and the auction closed! OMGosh! I am wondering if going to be able to sell it and get what I’m going to have to pay for it. Here’s the description and a few pictures. 2 CTW certified VS/SI diamond solitaire halo ring. 18k white gold. Main stone is 1.25 carat total weight H-J color. Additional stones 0.75 carat total weight containing 79 pieces of H-I color with VS/SI color. I bid $5700 (by accident) and will have to pay a 19% buyers fee. Any thoughts on whether I’ll be able to recoup my costs and where I might be able to sell it?? I know, I know. Thanks! Erica

 

[OreoRosies86]

Eek. Why couldn't you retract your bid if the other person could?

 

[mellowyellowgirl]

Oh my goodness! What is the penalty if you pike? Maybe just pike and pay a penalty! You can't pay $5K+ for a ring you don't want!!!!!!

 

[GirlwithGems]

Or need! There wasn’t a retract option! I reached out to the online auction but still haven’t heard back. I thought if I could sell it and get my money back that would work?? What do you think? Do you think I could get $6800 for this ring?

 

[qubitasaurus]

I don't think you'll get an accurate estimate without knowing the cut.

Can you pay a small penalty and get out of the transaction? There can be fees for selling (consignment fees) as wll as the 19% for buying. I would be worried that you wont recoup the costs, and will take a loss one way or another.

 

[mellowyellowgirl]

I still say just pay a penalty if it is significantly less than the ring. I don't feel like it is easy to sell a ring like this, especially something as generic as a diamond.

 

[tkyasx78]

Do not pay that much for that ring if you don’t want it

I doubt there is any chance you will get anywhere near what you paid if you sell. Reselling a diamond garners very little of a retail price and I am sure you know to never buy a ring with an uncertified set diamond.

The stone is probably a k since and since it is not certified and who knows the actual clarity!

Tell them you did not bid for it on purpose and cannot pay.

 

[GirlwithGems]

I will definitely do that! Thank you all for your advice!

 

[peacechick]

What if you offer them favorable terms like you retract your bid but commit a percentage towards another item from their store (that you do want)? I feel like there should be a way to negotiate out of this deal.

 

[GirlwithGems]

That’s a good idea! I’ve sent them multiple messages and I left them a voicemail because the auction is still going on and they could relist it but I can’t reach anyone! Urgh! Again thanks for all your advice - wish me luck getting out of this one! Lesson learned!

 

[mellowyellowgirl]

Good luck and please keep us updated!!!!! I hope you get out of this pickle!!!

 

[GirlwithGems]

Thank you!!! I think I will. I’ve been trying to reach them and I’m hoping I catch them before the auction is done. Major lesson learned! Those things are dangerous!

 

[whitewave]

Definitely get out and pay a penalty

 

[HappyNewLife]

Or need! There wasn’t a retract option! I reached out to the online auction but still haven’t heard back. I thought if I could sell it and get my money back that would work?? What do you think? Do you think I could get $6800 for this ring?

Without a cert that states cut and accurate color/clarity stats, probably not. I’ve been trying to sell a 1.3ct EGL (H/SI3) ring for a friend and have zero nibbles at $3200. There’s a 1.3ct J/VS2 WF ACA for sale on PS for $6800... eep

 

[Indylady]

Put a freeze on your CC so they can't auto charge and then keep trying to get in touch--if you bid by mistake then you should not buy this, and their customer service should be able to help you.

 

[Queenie60]

I say - do not pay. I agree with Indylady. Call your cc company and inform them that you do not authorize this charge.