Need advice - selling engagement ring

[Jessica10]

The party''s over, and I''m preparing to sell my engagement ring

Since I don''t really know how much to ask I thought I would take it to get appraised. I still have the AGS report and the original receipt, but I don''t imagine I''ll get anywhere close to the original purchase price. I''m looking for someone trusty to give me a good idea of how much I can expect to receive in today''s market from a private sale.

Does anyone have a recommendation for a good independent appraiser in the NYC area? Ideally I''d like to have it done while I''m in town next week. I don''t have any experience selling jewelry like this, so any general advice would be greatly appreciated, too!

I''m cruising the forums from work atm (naughty!) so I don''t have the AGS report handy, but I remember some of the stone details are:

Color: D
Clarity: VS2
Weight: .90
Cut: Super Ideal H&A
Brand: Hearts On Fire

It''s set in a platinum 4-prong Tiffany-style setting.

Also, would I do better to have the stone unmounted and sell it separately? Which way is more likely to sell?

Thanks for your help!

 

[Lorelei]

Date: 4/6/2010 1:34:05 PM
Author:Jessica10
The party's over, and I'm preparing to sell my engagement ring

Since I don't really know how much to ask I thought I would take it to get appraised. I still have the AGS report and the original receipt, but I don't imagine I'll get anywhere close to the original purchase price. I'm looking for someone trusty to give me a good idea of how much I can expect to receive in today's market from a private sale.

Does anyone have a recommendation for a good independent appraiser in the NYC area? Ideally I'd like to have it done while I'm in town next week. I don't have any experience selling jewelry like this, so any general advice would be greatly appreciated, too!

I'm cruising the forums from work atm (naughty!) so I don't have the AGS report handy, but I remember some of the stone details are:

Color: D
Clarity: VS2
Weight: .90
Cut: Super Ideal H&A
Brand: Hearts On Fire

It's set in a platinum 4-prong Tiffany-style setting.

Also, would I do better to have the stone unmounted and sell it separately? Which way is more likely to sell?

Thanks for your help!

Hi Jessica and welcome!

So sorry to hear you have to part with your lovely ring....

There are various appraisers in NYC on the appraiser listing, I know some have had good experiences with David Wolf so you could contact him for assistance, tell him the reason why you want the appraisal ( for resale) and he could give you a suitable figure. Apparently a realistic figure for resale is approximately 30 - 50% of what was originally paid to give you an idea.

Below is an excellent article by expert Neil Beaty concerning reselling diamonds, it might be helpful to you.


http://journal.pricescope.com/Articles/66/1/A-consumer%e2%80%99s-guide-to-reselling-diamonds.aspx

 

[HappyNewLife]

it''s too bad there''s no marketplace forum on this board, but I totally understand why because it would let in all kinds of shady people.

Good luck! I hope you are successful in getting the best $ back from the sale.

 

[lknvrb4]

I wish there was a marketplace on this board.

 

[D&T]

sorry to hear that you have to part ways with your ring. I found that people were only interested in the diamond in my local channel, so in some instances it might be wise to unmount and sell the diamond alone then try to recoup some cost by selling your semi mount separately (might not be much, but better than scrap value)

 

[denverappraiser]

Choose your selling strategy first, before you take it apart. The article linked above outlines your general options. What you describe is a fairly popular set of specifications and will likely sell quickly if you price it right and can get exposure to the buyers. I would expect most consignment type dealers to be eager to make a deal with you and, if you’re reasonably good at selling and have a good feedback score, I would expect it to sell fairly well on ebay and similar markets. Talk to your appraiser about it. Specifically tell them when you set the appointment that you’re looking for advice on resale and ask if they offer this sort of service. Have with you all of your paperwork, especially the AGS report and whatever you''ve got to support the ''Hearts on Fire'' branding.

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

 

[Dreamer_D]

I''m sorry about your engagement.

Do you need to sell the diamond for some reason? You will lose so much money that if it were me, and I did not need to sell it for financial reasons or some other reason, then I would reset the diamond into a new "liberation" right hand ring, or a pendant or something, and just enjoy it for what it is -- a gorgeous rock!

 

[Todd Gray]

Perhaps the original HOF dealer who sold the diamond ring would be willing to sell it on consignment for you... Many jewelers offer this service and it provides clients with a way to recoup most of the original purchase price.

I believe that some PS vendors do offer a consignment service, we''re not one of them, but I believe that a few do... (we don''t because we only represent diamonds from verified suppliers for reasons pertaining to the Kimberley Diamond Act and our selection criteria would preclude most of the diamonds likely to be offered).

 

[cara]

Pearlman's does consignment, if you don't have a local place that you are interested in using. The HOF designation will help a lot.

But I'm with dreamer. Put that rock in a pendant and wear the sucker, unless you need really need the $.

 

[PumpkinPie]

I`m sorry to hear about the end of your engagement

I`m with dreamer and cara - if you don`t need the money, I would hesitate to sell the diamond now - think about it a bit - and consider a fabulous pendant!

 

[Jessica10]

Thank you all for your advice! The article that Lorelei linked was very helpful, and it''s nice to know from Neil my diamond is in a popular range for sale.

Since I''ll be in Manhattan, I may give David Wolf a call. Has anyone had a personal experience with him they could share? I am pretty set on selling it, but I will probably wait until I see for how much it appraises and ask the appraiser when would be a good time to sell. I''m not going to wear it, so I feel I may as well put it to work

Before I take it to an appraiser, should I do anything to it besides normal cleaning? Thanks!

 

[Jessica10]

That Pearlman's site has some fun stuff, and I even see they have one ring in the "previously owned" list that is similar to mine, but with a smaller stone!

 

[Dreamer_D]

Just do a search for David''s name on PS. He is a respected appraiser around here. The search box is to the upper right.