Need Help with a ring i found

[nebula37]

I found a riing about 2 weeks ago and thinking about getting it appraised and selling it. Its a 3 stone 2.0 ct mens 14kt yellow gold ring. could someone offer some advice on how to sell it after appraised? I dont really want to sell on fleabay or online. I heard that i should take it to a jewelers store and sell it for about 60% of value. At least that is what i heard they buy for. Thanks in advance

 

[Lorelei]

Date: 12/28/2008 5:19:56 AM
Author:nebula37
I found a riing about 2 weeks ago and thinking about getting it appraised and selling it. Its a 3 stone 2.0 ct mens 14kt yellow gold ring. could someone offer some advice on how to sell it after appraised? I dont really want to sell on fleabay or online. I heard that i should take it to a jewelers store and sell it for about 60% of value. At least that is what i heard they buy for. Thanks in advance

Welcome!

Have you reported that you have found the ring in case someone is looking for it? If you haven't already done so then that is the first step. Then after a certain amount of time passes if no one claims it and the ring is released to you, then you can get some ideas on reselling and what to expect in this thread. Has someone already verified the weight of the diamonds as 2 cts?

https://www.pricescope.com/community/threads/reselling-gems-jewelry-what-can-you-expect.17952/

 

[Deelight]

If you found the ring have you exhausted all efforts to find the original owner?

 

[neatfreak]

Ditto Lorelei. And unfortunately there is no way you are going to get 60% of it''s value back. But you need to try and find the owner first.

 

[denverappraiser]

I agree with the above about taking reasonable efforts towards finding the rightful owner but it''s an important question on how much to expect to realize from jewelry on resale.

Unfortunately, there is not much of a translation between insurance replacement type values, which is the value conclusion you’ll find in most appraisals, and consumer to resale values. With most items, the dealer is going to plan to take apart the piece and reuse the materials to make something else and this makes the value strictly a function of the materials involved. How useful those materials are will depend both on what you have and what the jeweler is in need of at the time but gold, platinum and diamonds all recycle quite well. Gold and platinum are easy. They recycle at the refinery and the weight usually is going to be listed in the appraisal. Diamonds are considerably more difficult. Most appraisals will include the grades for the major stones but they may or may not be reliable so most professional buyers are going to rely on their own grading, not something that you provide. Getting a feel for what to expect in this grading is usually the #1 thing you get out of an appraisal in your situation and a reality check on setting your prices is #2. This is simply a matter of choosing a reliable appraiser. You gain a lot by being clear with your appraiser that your purpose in seeking the appraisal is to sell the piece to dealers, that you plan to collect bids from various buyers and you are looking for assistance is setting your price and in deciding which bid to finally accept. This is NOT the usual question being asked in an appraisal session but it is one that any properly trained appraiser should be able to assist you with.

As a thumbnail rule, for non-designer style pieces figure dealers are currently buying 14k gold at about $10/gram (based on $830 NY gold), figure diamonds below a quarter carat each and of reasonably good quality at about $100/ct or a little less. Commercial type melee at zero. It''s actually more work to get them out of the mounting intact than they''re worth. Bigger diamonds seem to trade about half to ¾ of the prices where you comparable stones being offered in the database here. Usually this is nowhere near the 60% of retail appraisal figure you''re hoping for. Do be careful about which stone(s) you choose as ''comparable''. There''s a whole art to that and it can lead to some serious confusion about what to expect.

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