Need help: am I being ripped off?

[mcb00]

Hello,

I need some advice about an item I won on a bid at the Jewelry Room. It is silver + platinum bracelet with over 1 carat in diamonds. My bid and the price I have to pay is $340. I'm wondering if the price is fair and whether I would be able to resell it to a jeweler or even on Ebay for at least the same price.

Any help is appreciated and any insights on the vendor (jewelryroom.com) too.

Here's a link with pics and specifications for the item: http://www.jewelryroom.com/product.php?aid=40091

Thank you so much in advance for your time and kindness, and for educating us consumers on the very complex topic of understanding the value of gems. I've read a lot on it and still can't figure out what the right price or re-sell price of an item would be...

 

[Pandora II]

Well, if 6 people bid on the item there was obviously some interest so you might do okay on eBay.

I doubt a jeweller will pay you that price though, especially since the piece is silver.

 

[mcb00]

Thanks Pandora! So the diamonds can't be resold?

 

[orbaya]

Thanks Pandora! So the diamonds can't be resold?

Are you thinking of removing the diamonds from the bracelet, or selling it as one piece?

 

[ruby59]

If I am reading it right, this is sterling silver with a platinum overlay, kind of like the epiphany line at qvc. I find his suggested retail price of $5,000+ absurd. Not even close to reality. The clarity of these stones is SI2 to I2, which is not very good. On ebay I found a couple of similar pieces going for $100+, but no takers.

 

[MichelleCarmen]

Sorry, but the price is too high for that piece. It's silver and the diamonds don't look very high of quality. Can you retract your bid?

ETA - even if you do try and resell it, you'll end up having to sell it for more than you paid because to have to calculate in eBay and PP fees that come along with selling on eBay.

 

[distracts]

Yeah, usually when they say silver with platinum, they just mean rhodium-plated silver. Rhodium is a platinum group metal, so I guess it's not entirely a lie, but it's pretty misleading.

Similar items (silver bracelets with diamonds) are going for around $50-150 on overstock.com.

I've read a lot on it and still can't figure out what the right price or re-sell price of an item would be...

I suggest then that you not engage in buying things for the purpose of reselling them.

 

[Pandora II]

Thanks Pandora! So the diamonds can't be resold?

No jeweller is likely to buy melee from you - the cost involved with melee is the labour needed to set them, not the diamonds themselves especially if they are not premium cut.

I had a piece of jewellery made recently that was silver with rhodium plating - it was pretty substantial (a lot bigger than this piece) and it cost well under $100 and was custom made.

Ebay is your best bet and hope that some other people are interested like they were on the first auction.

Unless you really know what you are doing and both trade and retail prices I wouldn't try and buy to resell. Unless you are selling well under wholesale I doubt you will ever find a jeweller interested in buying anything - and it's very unlikely that you can buy at that price yourself.

 

[MissStepcut]

Those are absolutely not white diamonds. G-I? Nuh uh

 

[mcb00]

Wow, thanks everyone for your responses! I'm learning a lot just reading all the posts.

I agree that buying jewelry for reselling is very tricky. I was not planning on doing that. Just wanted to give my best friend a piece of jewelry she could both wear and keep as a sort of investment (meaning she could re-sell it and get some money back in the future).

There is one thing I still don't get: when I see the price for .18 karats of diamonds from several retailers for diamonds with the color and clarity of the piece I bought, it retails for like $300, which means 10 pieces should be about $3000. I know these prices are higher than wholesale, include the costs of setting/manufacturing and are based on excellent cuts. But if the diamonds in the piece I bought are of the same clarity and color and carat weight, why can't they be resold at even 25% of that price?

 

[VRBeauty]

The ad is confusing and I suspect somewhat misleading.

Based on this chart: http://www.walshbrothers.co.uk/Update/dia04.htm and the dimensions of the diamonds cited in the ad, I'm guessing that the diamonds in your bracelet are:

10 stones that each weigh .124 ct, which puts them at a bit over the 3mm listed for the larger stones.

20 stones that each weigh .08/20 , or .004 mm each for the smaller stones, which puts them at just under 1.0mm according to the size chart and is consistent with the 0.9 mm listed in the ad.

Of course that doesn't add up to 1.24ctw - as I said, the ad is confusing.

I hope when you get the piece that you find it's something you'll be proud to give to your friend!

 

[VRBeauty]

20 stones that each weigh .08/20 , or .004 mm each for the smaller stones, which puts them at just under 1.0mm according to the size chart and is consistent with the 0.9 mm listed in the ad.

Sorry - that should have read: "20 stones that weigh a total of .08 (ctw.).

.08/20 = .004 ct. each for the smaller stones, which puts them at just under 1.0mm according to the size chart and is consistent with the 0.9 mm listed in the ad.

If my guesses are correct, then your bracelet has a total of 1.32 carats of diamonds. If that was a single diamond we might be talking investment potential. Since that weight is split among 30 stones... not so much, in all likelihood.

You might still have a very pretty and wearable piece, just not one that will serve as a hedge against inflation!

 

[partgypsy]

If you like it as a piece of jewelry to wear and enjoy, get it. Do not buy it for any "investment value". Those bidding places have such ridiculous inflated "values" attached, I would disregard them entirely.

I think the only thing I'd put under investments, if you are buying high carat gold, if you can buy it close to the going per gram price of pure gold.
Then you should be able to re-sell in the future and recoup most of your cost.
Myself, I wouldn't even put diamonds in the investment category, unless you had something very rare (high carat size, pink natural diamond with cert). And even that, it's so much less "liquid" than cash or other forms of investments to sell, I personally wouldn't go there.