how do you know who to trust...

[titansgirl73]

I am trying to sell my old engagement ring and am unsure of how to determine who is legit and safe and who isn''t. Other than the BBB how do I determine, with online vendors, what is a safe policy?

Thanks for any and all help!!

 

[denverappraiser]

Start with an appraisal.

And by that I mean an opinion from an independent expert who is working for YOU and who can give you sound advice on what you have and what is a reasonable strategy for selling it in a way that maximizes your circumstances. Many appraisers are happy to do their work while you wait and while you watch. Choose an appraiser who doesn’t buy jewelry. An appraisal and a bid are entirely different things.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

 

[titansgirl73]

Hey Neil,

Thanks for the advice. I do have an appraisal as well as the GIA paperwork and purchase paperwork with the retail value (22k) But with all of that in mind I''m still not sure how to determine if a site is legit. I am cognizant that the value is greatly reduced, an have visited several local estate and jewelry dealers - even the one we bought from, but do you have any suggestions with how to know if an email site is secure to send it in to....? Are there any licensing agencies or anything like that with jewelers - other than the Better Business Bureau?

Thanks again!

 

[gulliverseyes]

Well ... I just purchased a 1.23ct diamond that was appraised at $8900 with dated setting for $3500 without dated setting. Me thinks the used diamond/setting market is very low as compared to new product. Sorry things didn''t work out for you, but the reality is what it is. It''s almost a fake market to prey on those looking to get engaged ... but I didn''t say that. It is what it is!

 

[denverappraiser]

There are no licensing bodies. www.bbb.org is sometimes helpful. Google is helpful. www.ripoffreport.com is sometimes helpful. The secretary of state office in their home state is sometimes helpful. You may know places where others have sold and your appraiser may be able to help you out. When you hired the appraiser didn’t you tell them your intentions? If so, they should have provided you a reasonable marketplace and if not (or if you weren’t the client at all), then the document you have isn’t what I was suggesting. There is no conversion chart for converting from ‘retail’ prices to realistic resale values.

Posting the name of the outfit you are considering in the title of a thread here asking for people with experience with a particular merchant often gets some response from previous people who have worked with them although buyers of diamond are more likely to hangout in a diamond forum after the sale than sellers.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

 

[titansgirl73]

Thanks again, Neil! I''ll checkout those sites.