How should I go about selling me Leo

[Angela1985]

Hi all!
I was just curious as to weather or not I would be able to sell my Leo to a reputable vendor (not here of course). I would like to "upgrade" my engagement ring, but I flat out refuse to do business with Kay any longer. What I would like to do is sell said Leo, and purchase a ring from somewhere else with the profit. I have (hopefully) done enough research to know that the ring isn't "worth" what it was sold for (which is very disheartening, but hey, what can you do?) So, in summery, my questions are, 1. Is it possible to successfully sell my ring to a vendor (meaning not a private sale) and 2. How should I go about it?
Thank you in advance for you help.
-Ang

p.s sorry in advance if I'm posting this in the wrong forum!

 

[Circe]

Unfortunately, it's almost impossible to sell a diamond without losing a significant amount of money. Private buyers are usually lucky to get 30% of what they paid back. I'm not sure what jewelers would pay for a branded cut like the Leo (hopefully someone else can chime in): if it's very high quality/size, I'm guessing you'll have better than average luck, though. A lot of people try selling through eBay or Craigslist independently: alternately, you might be able to consign your ring with someone like Pearlman's or Jewels by Erica Grace, and hopefully get a bit more of your money back that way (consignment places take 10% to 20% in commission and generally charge significantly less than retail ... but it's still better than 30% from a jeweler).

Honestly, though, unless you hatehatehate Kay to the degree that you'd rather eat the money than give any more to them, I'd see if they could call in a stone that was exactly what you were looking for - I believe they can call in AGS stones - and avoid the issue entirely. And if you wanted to upgrade again in the future, I think you might have more options that way ....

 

[MissGotRocks]

You might find an independent jeweler to take the ring in trade but it would be on a case by case basis. It is a branded cut sold only by jewelers who carry the brand and it won't fit with the inventory most jewelers carry. If you were going to trade up in a large amount, someone may offer you something for the ring but of course not nearly what you paid. Most pieces like that are probably more often sold on ebay or Craig's List or something.

Jared's carries Leo too - they might take the ring in trade on a larger stone. Jared's carries Peerless stones which are AGS graded stones. Options for previously owned jewelry are limited unless you use the trade in option with the jeweler that you bought it from.

You might want to think about recycling the stone into a pendant and just buying another stone outright. I'm sure this isn't the option you would prefer to use but it may be the only practical choice.

 

[Angela1985]

Unfortunately, it's almost impossible to sell a diamond without losing a significant amount of money. Private buyers are usually lucky to get 30% of what they paid back. I'm not sure what jewelers would pay for a branded cut like the Leo (hopefully someone else can chime in): if it's very high quality/size, I'm guessing you'll have better than average luck, though. A lot of people try selling through eBay or Craigslist independently: alternately, you might be able to consign your ring with someone like Pearlman's or Jewels by Erica Grace, and hopefully get a bit more of your money back that way (consignment places take 10% to 20% in commission and generally charge significantly less than retail ... but it's still better than 30% from a jeweler).

Honestly, though, unless you hatehatehate Kay to the degree that you'd rather eat the money than give any more to them, I'd see if they could call in a stone that was exactly what you were looking for - I believe they can call in AGS stones - and avoid the issue entirely. And if you wanted to upgrade again in the future, I think you might have more options that way ....

Thank you for such an educating response!
Right now I'm weighing out my options, I'm still open to the possibility of getting another ring from Kay's although I'm a little hesitant. Both options have their pros and cons, but I think it's really going to boil down to which one is more practical/logical. Thank you again!

 

[Angela1985]

You might find an independent jeweler to take the ring in trade but it would be on a case by case basis. It is a branded cut sold only by jewelers who carry the brand and it won't fit with the inventory most jewelers carry. If you were going to trade up in a large amount, someone may offer you something for the ring but of course not nearly what you paid. Most pieces like that are probably more often sold on ebay or Craig's List or something.

Jared's carries Leo too - they might take the ring in trade on a larger stone. Jared's carries Peerless stones which are AGS graded stones. Options for previously owned jewelry are limited unless you use the trade in option with the jeweler that you bought it from.

You might want to think about recycling the stone into a pendant and just buying another stone outright. I'm sure this isn't the option you would prefer to use but it may be the only practical choice.

" It is a branded cut sold only by jewelers who carry the brand and it won't fit with the inventory most jewelers carry. " I'm totally anticipating that problem, but I'd like to explore the possibility. I'll look into Jared's thanks for the tip! I thought about turning it into a pendent but my husband said he would rather I get a new ring altogether, since I'm not the type of person who wear a necklace on a regular basis. Thank you for your input!

 

[denverappraiser]

Sure, lots of jewelers buy. The trick is going to be the price. If you sell to a dealer, you are NOT going to get anything like Kay's retail prices. It's not unusual to see things like that sell for between 10% of the original prices and rarely will it be above 25%. That said, pick a jeweler and ask 'em. Usually bids are free.

Jared's shares ownership with Kays (as well as a few other brand names) and the suggestion of seeing what you can do for a trade-in there using the Kays program is a good one. They tend to be much larger stores than the Kays brand and you may more easily find what you want.

 

[asymons412]

Honestly, though, unless you hatehatehate Kay to the degree that you'd rather eat the money than give any more to them...

I would rather eat money than give it to Kay. Just saying. I would cut my losses before going to Kay for any business whatsoever. Sell your ring elsewhere and be done with them, IMHO. My SO purchased a tennis bracelet from them as a Valentine's day gift and we have both had nothing but regrets about their shoddy workmanship and poor customer service. I could tell you the hell we went through, but I feel as if you probably know exactly to what I am referring.

 

[Laila619]

Honestly, though, unless you hatehatehate Kay to the degree that you'd rather eat the money than give any more to them...

I would rather eat money than give it to Kay. Just saying. I would cut my losses before going to Kay for any business whatsoever. Sell your ring elsewhere and be done with them, IMHO. My SO purchased a tennis bracelet from them as a Valentine's day gift and we have both had nothing but regrets about their shoddy workmanship and poor customer service. I could tell you the hell we went through, but I feel as if you probably know exactly to what I am referring.

Ditto. I'd try Jewels by Erica Grace first. Then I'd start fresh with an online vendor who offers a better upgrade policy (Kay and Jared both require you to spend double what you originally paid in order to upgrade).

 

[diamondseeker2006]

Honestly, though, unless you hatehatehate Kay to the degree that you'd rather eat the money than give any more to them...

I would rather eat money than give it to Kay. Just saying. I would cut my losses before going to Kay for any business whatsoever. Sell your ring elsewhere and be done with them, IMHO. My SO purchased a tennis bracelet from them as a Valentine's day gift and we have both had nothing but regrets about their shoddy workmanship and poor customer service. I could tell you the hell we went through, but I feel as if you probably know exactly to what I am referring.

Ditto. I'd try Jewels by Erica Grace first. Then I'd start fresh with an online vendor who offers a better upgrade policy (Kay and Jared both require you to spend double what you originally paid in order to upgrade).

I agree. Consign it or sell it on ebay if you can't keep it to use in another piece of jewelry. Then buy the diamond at one of the reliable vendors here so you don't drastically overpay. I would not trade in at Kay or Jareds.

 

[kdonahue]

Check out the website IDOKNOWIDONT.com people with many reasons to sell are selling rings on there. Just an idea.

 

[marcy]

I've traded in things from Kays at Jared's and they will give you what you paid for it as long as you buy something twice as expensive. They do sell ideal cut diamonds including AGS0.

 

[MissGotRocks]

I have known some people that acually like the look of the Leo diamond - it is cut with more facets and can be very sparkly and pretty. Problem is they have IGI grading so you really don't know for sure what you're getting in terms of color or clarity. They are also priced very high and having to trade up 50% in value can be a real deal breaker. The other interesting thing is that they are priced by carat weight only. An I color SI2 stone goes for the same price as a G VS stone and the truth is that neither of those grades is probably correct. It's just their marketing game and people buy them so I guess it works for Kay's. Their AGS stones (particularly at Jared's) are more expensive than you can find with online vendors so from that standpoint, it would be better to try to sell what you have outright and start again.

 

[100]

I would just sell it, recycle it into something else, closet it, etc. But will not trade it in for another jewelry from neither Kay or Jared. Think of it this way, you can get your original amount back, but then you have to spend twice the original amount to upgrade, on another overpriced item that you are going to buy... Either way, you lose, so why give them more business?

 

[lknvrb4]

I believe Markbroumand.com will take a trade in for something he makes. It might be worth a look, he uses some certified stones.

 

[Sheherizaad]

You might find an independent jeweler to take the ring in trade but it would be on a case by case basis. It is a branded cut sold only by jewelers who carry the brand and it won't fit with the inventory most jewelers carry. If you were going to trade up in a large amount, someone may offer you something for the ring but of course not nearly what you paid. Most pieces like that are probably more often sold on ebay or Craig's List or something.

Jared's carries Leo too - they might take the ring in trade on a larger stone. Jared's carries Peerless stones which are AGS graded stones. Options for previously owned jewelry are limited unless you use the trade in option with the jeweler that you bought it from.

You might want to think about recycling the stone into a pendant and just buying another stone outright. I'm sure this isn't the option you would prefer to use but it may be the only practical choice.

" It is a branded cut sold only by jewelers who carry the brand and it won't fit with the inventory most jewelers carry. " I'm totally anticipating that problem, but I'd like to explore the possibility. I'll look into Jared's thanks for the tip! I thought about turning it into a pendent but my husband said he would rather I get a new ring altogether, since I'm not the type of person who wear a necklace on a regular basis. Thank you for your input!

Have you considered a bezeled bracelet or white gold delicate chain bracelet? Or go bold and make see if you can buy a gold cuff bracelet and put the diamond on there? You could make it into a statement piece.

 

[mrssalvo]

lots of good options already discussed. I'll also throw out Pearlmans name as a jeweler who will take a trade and/or consignment, might be worth a quote.

 

[Dreamer_D]

Go to Kay's and find out how much it would cost you out of pocket to get the diamond you want, after the trade in. Then look around and find out how much a similar diamond would cost you elsewhere to buy from scratch. That will help you to decide which option works best for you.

 

[WinkHPD]

Hi all!
I was just curious as to weather or not I would be able to sell my Leo to a reputable vendor (not here of course). I would like to "upgrade" my engagement ring, but I flat out refuse to do business with Kay any longer. What I would like to do is sell said Leo, and purchase a ring from somewhere else with the profit. I have (hopefully) done enough research to know that the ring isn't "worth" what it was sold for (which is very disheartening, but hey, what can you do?) So, in summery, my questions are, 1. Is it possible to successfully sell my ring to a vendor (meaning not a private sale) and 2. How should I go about it?
Thank you in advance for you help.
-Ang

p.s sorry in advance if I'm posting this in the wrong forum!

You have already started the process. Next, read about the various vendors here and approach one or more of them to ask. You may either be disappointed or excited with the responses, and the stone will have more value to some of us than to others, but you will never know if you do not ask.

You will not be obligated to accept or reject our offers, but you can start the ball rolling by the simple act of asking.

Good luck!

Wink

 

[Luminous-MB]

Hi all!
I was just curious as to weather or not I would be able to sell my Leo to a reputable vendor (not here of course). I would like to "upgrade" my engagement ring, but I flat out refuse to do business with Kay any longer. What I would like to do is sell said Leo, and purchase a ring from somewhere else with the profit. I have (hopefully) done enough research to know that the ring isn't "worth" what it was sold for (which is very disheartening, but hey, what can you do?) So, in summery, my questions are, 1. Is it possible to successfully sell my ring to a vendor (meaning not a private sale) and 2. How should I go about it?
Thank you in advance for you help.
-Ang

p.s sorry in advance if I'm posting this in the wrong forum!

You have already started the process. Next, read about the various vendors here and approach one or more of them to ask. You may either be disappointed or excited with the responses, and the stone will have more value to some of us than to others, but you will never know if you do not ask.

You will not be obligated to accept or reject our offers, but you can start the ball rolling by the simple act of asking.

Good luck!

Wink

Ditto!

 

[Angela1985]

Hi all!
I was just curious as to weather or not I would be able to sell my Leo to a reputable vendor (not here of course). I would like to "upgrade" my engagement ring, but I flat out refuse to do business with Kay any longer. What I would like to do is sell said Leo, and purchase a ring from somewhere else with the profit. I have (hopefully) done enough research to know that the ring isn't "worth" what it was sold for (which is very disheartening, but hey, what can you do?) So, in summery, my questions are, 1. Is it possible to successfully sell my ring to a vendor (meaning not a private sale) and 2. How should I go about it?
Thank you in advance for you help.
-Ang

p.s sorry in advance if I'm posting this in the wrong forum!

You have already started the process. Next, read about the various vendors here and approach one or more of them to ask. You may either be disappointed or excited with the responses, and the stone will have more value to some of us than to others, but you will never know if you do not ask.

You will not be obligated to accept or reject our offers, but you can start the ball rolling by the simple act of asking.

Good luck!

Wink

Ditto!

How would I go about that??

 

[mrssalvo]

You just need to call or email the vendors and tell them what you have and see what they will offer. Some might need a copy of your cert. as well as pictures of your stone but you'll just have to find by contacting each of them directly.

 

[Dreamer_D]

And from the looks of it you should call Wink and Mark Broumand

 

[CherryBlossom]

And from the looks of it you should call Wink and Mark Broumand

+1 lol