Help with selling diamond

[wanvb]

I have a loose 1/2 ct. diamond from an engagement ring. The ring was appraised at $1,106 in 1978 when purchased, but the appraisal papers do not specify the color and quality, only that the diamond is of "fine" color and quality. I would like to sell the diamond, but do not know where to begin with placing a value on it. Please help.

 

[cmcwill]

Why don't you get it appraised again? Start at the beginning!

 

[PMR]

I just sold my diamond from an on-line vendor called Thingswebuy.com. Go to their website and get the info. You will not get the appraised value though. They have a gemologist who inspects the diamond and puts a value on it. It was worth it for me because I didn't want the hassle of advertising etc. If you send it to them and you don't like what they offer, they will send it right back to you. Good luck!

 

[fire&ice]

If I recall correctly - thingwebuy.com is Lippincott. They do buy. They will pay cash immediately. I just don't know how much on a dollar they will pay. I have never sold anything to them. I have bought numerous things from them & have been pleased w/ the transaction.

 

[cmcwill]

I think you should get it appraised first. With a selling price of over $1000 in 1978...that could be as much as $6000-7000 now!

 

[fire&ice]

Yes, I agree - you should get it re-appraised.

 

[Nicrez]

Although $6,000- $7,000 sounds great, I doubt that's what they will offer...That's an extremely generous offer that is NOT in line with even market value.




For instance, on-line a D, VVS1 (best possible scenario) would sell on the primary market for $2,500. You will never get reatil price for such a stone in a secondary market. At best you may get 40% so it would be $1,000.




Ok, let's say it an H VS2 which markets for $1,300, you would get about 40% or less of that meaning $520. This does not account for the setting.




If it has no historical value (like an Antiques Roadshow piece) it would be sold for metal melting purposes maybe at another (at best) 40% of vlaue...maybe approx $50-$200...?




Anticipate under $2,000 for sure, but anything above $500...It's a broad range, but so is "Fine"... Just ask my boyfriend...

Good luck, and I am sorry to say that diamonds are never really a "good investment" unless they are rare colors, or even large stones, or set in heiloom or rare quality...




Sadly Coleen, diamonds have market value and are not like an acient jar found in your basement that just go up in price. They are subject to the largest discounts when selling in a secondary market....

 

[fire&ice]

To add: someone else may chime in here - but 1978 was about the time of the diamond bubble when a 1c d/if was trading for around 70K. Diamond were incrediably inflated during that time.

 

[cmcwill]

I was basing this purely on my mother's experience. Her .77 in 1976 cost $700 which was about 4 months rent then (east coast)...so I was just extrapolating out to current rates etc. I didn't mean you should expect to earn that much...just that the ratio of price to inflation then might equal the ratio of cost to inflation now...giving you about $6000.

In the words of that infamous Barbie..."Math is hard!"

Colleen