How to sell old E-ring to a store

[Bella123]

Hi Everyone,

Do you think I will have much luck selling my old diamond to a jewelry store if I don't plan on doing a trade in? My goal is to purchase a diamond online and I would like to sell my old one first.

Here are the specs:

Round Brilliant
1.05 ct
measurements: 6.63 - 6.68 x 3.97
color: I
clarity: SI1
depth: 59.7
table: 62
Girdle: Thin to medium
polish: excellent
symmetry: very good
GIA cert: 10549475

I have no other dimensions and/or percentages because the cert is from 1999. The stone is eye clean.

Please let me know what other information you need.

Thanks,
Bella

 

[Lorelei]

Date: 2/28/2010 11:00:25 AM
Author:Bella123
Hi Everyone,

Do you think I will have much luck selling my old diamond to a jewelry store if I don't plan on doing a trade in? My goal is to purchase a diamond online and I would like to sell my old one first.

Here are the specs:

Round Brilliant
1.05 ct
measurements: 6.63 - 6.68 x 3.97
color: I
clarity: SI1
depth: 59.7
table: 62
Girdle: Thin to medium
polish: excellent
symmetry: very good
GIA cert: 10549475

I have no other dimensions and/or percentages because the cert is from 1999. The stone is eye clean.

Please let me know what other information you need.

Thanks,
Bella

Hi Bella

This article will give you some useful advice as regards trying to resell.

 

[Dreamer_D]

Unfortunately, the secondary market is quite brutal. You will be lucky to get 50% of the value, and probably less. I actually think it is better to keep the diamond and use it in a pendant rather than sell it for such a loss. Keeping it allows you to enjoy it and thus maintain its value in one way, rather than selling it and taking such a hit.

 

[Bella123]

Thanks Lorelei - I will definitely check out the link you gave.

Dreamer - that is what I''m afraid of. I know my old ring is far from ideal which will hurt the value. Stores in which I was willing to do a trade in offered me $4000 - $4500 for it, and I''m afriad when I try to sell it on my own without a trade in I will be offered 1/2 of that and I know I won''t sell it. I would be willing to part with it for maybe $3000 - $3500, but from the sounds of it, it may not be likely that I will be offered that amount.

 

[Dreamer_D]

Date: 2/28/2010 11:42:52 AM
Author: Bella123
Thanks Lorelei - I will definitely check out the link you gave.

Dreamer - that is what I''m afraid of. I know my old ring is far from ideal which will hurt the value. Stores in which I was willing to do a trade in offered me $4000 - $4500 for it, and I''m afriad when I try to sell it on my own without a trade in I will be offered 1/2 of that and I know I won''t sell it. I would be willing to part with it for maybe $3000 - $3500, but from the sounds of it, it may not be likely that I will be offered that amount.

That isa good amount for a trade in, but typically it is offset by crummy prices on the new diamond, essentially making the trade in value "zero" or close to it.

Is there a reason you want to get rid of it? Have you ever thought about recutting it? Brian Gavin offers this service and many PSers have taken advantage of it with their less-than-well cut diamonds. You may loose some spread but it could change how you feel about the diamond. It is not very expensive if I am recalling correctly.

 

[MichelleCarmen]

It''s pretty much impossible to sell a diamond for anywhere near what you paid or what it''s current market value is. I tried selling a few things on CL and people offered ridiculously low amounts. . .some around 20% of retail value. It''s nearly impossible to come out ahead on reselling a diamond. Like Dreamer suggested, turning the diamond into a pendant is a fun option.

 

[HVVS]

http://www.highperformancediamonds.com/index.php?page=news-item1

 

[Circe]

If you''re set on selling it, you''ll probably have better luck going the primary sale route via eBay or the like ... but like MC said, it''s not easy. Either a trade-in or a recut will probably be your best bet ....

 

[Phoenix]

Date: 2/28/2010 11:45:10 AM
Author: dreamer_dachsie

That isa good amount for a trade in, but typically it is offset by crummy prices on the new diamond, essentially making the trade in value 'zero' or close to it.

Is there a reason you want to get rid of it? Have you ever thought about recutting it? Brian Gavin offers this service and many PSers have taken advantage of it with their less-than-well cut diamonds. You may loose some spread but it could change how you feel about the diamond. It is not very expensive if I am recalling correctly.

Agreed, unless you can get a competitive price on the diamond you're buying.

I just sold some diamond(s) (jewellery) to a very reputable company and I only got something like 20-40% of retail prices (as shown on the PS search)/what I'd paid originally - such is the nature of the secondhand market [sigh]. To be honest, I regret it now. I wish I'd kept the items.

I'd either keep your diamond or have it recut. Alternatively, trade it in towards another diamond but again, make sure that the price of the new diamond is not inflated.

 

[Bella123]

Thanks everyone for the advice and links. I think I will probably just keep the stone for now. I''m not willing to take such a huge loss on it. Unfortunately, if I try to trade it in at a B&M store, they will and HAVE inflated the prices of their other stones they are selling. So, my best bet is probably to purchase my next stone online and hold on to the old one for now.
Thanks!