Newbie needs help!!

[Vin Doze]

I''m new here and not really sure what I''m doing or if I''m posting correctly so please excuse me.
My father gave me a diamond engagement ring that he bought in 1985 (long story)so I could sell it and try to pay some bills in these hard times. I understand you are not supposed to sell things here and that''s not my intentions. I''m planning to take it to a couple local jewelers and see what kind of offers I get but I could use some advice so I don''t go into this blind. I know absolutely nothing about jewelery.
And help / advice would be greatly appreciated.

First, can I assume that this ring that was purchased in 1985 is worth more now because diamond and gold is higher? By the way, the ring has never been worn, it''s in the original case, and he gave me a insurance appraisal from time of purchase.

This is the appraisal info.....
Shape and cut of feature diamond: Round Brilliant Cut
Measurements: 5.7 -- 5.65 x 3.41 mm
Weight (approx) ... 0.67 Carats
Florescence....None
G.I.A. Clarity Grade VVS2
G.I.A. Color Grade E-F-G
Proportions
Girdle..........Slightly Thick
Depth...........60.4%
Table...........65%
Pavilion Depth..44.5
Crown Angle.....33.0 Deg.
Culet...........None
Description of Major Inclusions : None Visible While Mounted.
Mounting: Ladies 14k Yellow Gold Engagement Style Ring w/ 6 Prong White Gold Head.
Condition of Mounting: New Stamped "14k AL"
Approx. Cost for Insurance Purposes: $3,363.00
Mounting: $150.00
Total: $3,513.00

So as i said, any info as to what to expect...today''s value...ect. Would be much appreciated. I attached a picture...it''s the best I could get.
Just over 2 years ago I was diagnosed with a chronic illness called Occipital Neuralgia. It may take a couple years before I receive disability and the sale of this ring may help my family immensely.
And please, If I''m not allowed to have this type of post here please have some mercy on me for a day or two or at least tell me where I could post it.
Thank you & God Bless,
Vin.

 

[Lorelei]

Hi Vin and welcome!

I am so sorry to hear about your diagnosis, I hope the pain is under control as I understand it can be a very painful condition.

As to the diamond, the best thing I can do is to link you to a page which gives advice on how and where to sell a diamond ring -

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

I wish you the best of luck

 

[Vin Doze]

Thanks, I appreciate it.
Fortunately I''m near NYC so finding a place to sell it is not a problem. I just don''t know anything about diamond rings.

 

[Lorelei]

Date: 1/18/2009 7:51:08 AM
Author: Vin Doze
Thanks, I appreciate it.
Fortunately I'm near NYC so finding a place to sell it is not a problem. I just don't know anything about diamond rings.

What I would do Vin, is to get an appraisal on your ring if possible - tell the appraiser you intend to sell it and they can give you a suitable figure to work with.

Here is a tool you can use to find an appraiser in the NYC area.

http://www.pricescope.com/appr_list.aspx

You could also try consignment with a company like www.pearlmansjewelers.com

 

[Steel]

You have great advice here.

Just a word of caution which you may know already. It can be very difficult to sell (2nd hand) diamonds and more often than not they will fail to achive cost price.

I only say in case you raise your expectations too high.

I too am sorry about your diagnosis.

 

[Vin Doze]

Thank you,
So is it safe to say a appraisal from 1985 would be higher for the ring today? I don''t think jewelery depreciates does it?
And no, I''m not getting my hopes up. It''s found money no matter what it turns out to be.

 

[Lorelei]

Date: 1/18/2009 11:32:19 AM
Author: Vin Doze
Thank you,
So is it safe to say a appraisal from 1985 would be higher for the ring today? I don''t think jewelery depreciates does it?
And no, I''m not getting my hopes up. It''s found money no matter what it turns out to be.

It is usual to only recoup around 30 - 50% of what you paid for the diamond, as considerable time has passed then an independant appraisal would be your best bet to get an idea of what you could sell it for. Unfortunately diamonds are not a good investment.