How do I sell a diamond profitably?

[LBW]

Hey everybody,

My husband and I are excited to upgrade my emerald cut stone for an upcoming anniversary and want some advice on how to sell this stone profitably. The first few phone calls I have made informed me that it''s "used" and will be purchased far below value. Is this true?

What sources should I try to get the most for a beautiful stone?

1.14 ct
Emerald cut
VVS2
G

Thanks, LBW

 

[Stephan]

Can you give us more details of the certificate?
Thanx !

 

[LBW]

Yes, thanks.

6.64 x 5.14 x 3.61 mm
depth 70.2%
table 74%
girdle - thin to medium
culet - none
polish - good
symmetry - very good
fluor - none
GIA

 

[Mara]

Read this thread on selling a setting--it has some applicable info which does apply towards selling stones, selling entire rings, etc. The general idea is the same IMO.

https://www.pricescope.com/community/threads/selling-an-engagement-ring.7966/

This is a current thread and the bottom line is that people find it pretty hard to unload stones unless you are in the industry or have connections or just get really lucky! eBay can work to unload a stone but far beneath its regular value, and you can try a boutique jeweler or similar who may have an interest in a beautiful fancy cut stone with exceptional clarity.

But it's hard....I would try to find a jeweler who would trade-in your old stone towards the purchase of a new one, you may have better luck doing that since your stone sounds lovely. Or find the new stone and see if the jeweler will take your old one as trade for an upgrade.

Best of luck!

 

[Talonnav]

Here's a suggestion. Save that diamond for a right hand ring. I'm hanging on to my original diamond for a setting by Claude Thibadeau.

 

[DiamondExpert]

Unless you can sell it on consignment or privately, you probably won't get much at all for it...you're lowest offers (if they even make an offer) will come from trade members and they will be WAY below your cost.

 

[Richard Sherwood]

The way to realize the greatest value from the resale of a diamond is to sell to the same market which the jewelers do. The public.

The way to do this is to get a professional appraisal as a selling tool, and then advertise the diamond to the public. Usually the best way to do this is through the classifieds.

After the appraiser gives you the retail replacement figure used for insurance purposes, ask him for his opinion as to the range which the diamond would sell for at the average jewelry store.

This is the pricing that you have to beat in order to make your stone attractive to the public. If you price your diamond at say, two thirds of what someone would have to pay in a retail store, then you will begin to get interest.

This price will be far more than you would get if you resold the diamond into a lower market level, such as the dealer level.