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novice trying to sell in NYC

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VVV

Rough_Rock
Joined
Aug 16, 2002
Messages
2
I am trying to sell a 1ct. very good diamond through some 'acquaitances' to a wholesaler in NYC. I looked up the prices on this site. I would like to arm myself with as much information as possible. Please help!
1) what is the diamond price report used for? specifically, are these the 'suggested retail' prices for the rocks, i.e. already marked up OR are these the 'base' prices from which retail outfits will mark up? I suspect that it's the latter.
2) what %age under or over the average or lowest rapp price can I, an average guy and not in the trade, expect to sell my diamond? I don't want to divulge too many specs, but let's just say it's slighlty over 1ct, G color, SI1 grade and a 1.3 total visual performance. It was bought from a wholesaler.
3) what specific language should I employ when dealing with these people? I am very good with numbers and can argue my point very well and can barter, but I am not sure how far and how emotional I should get. Should I laugh in their faces when they'll take pity on me and suggest that I was ripped off when I bought it? This leads me to Q#4
4) What should I say in response to them saying that: (a)they only buy from De Beers and that they are doing me a favor by buying my diamond OR (b) that you lose every time you sell it (diamonds go down in value)

Thanks!

:errrr: :read: :wavey:
 

RubyBleu

Rough_Rock
Joined
Jul 10, 2002
Messages
64
The truth is, you are going to have problems. Number one - NO ONE buys Diamond's from DeBeers. DeBeers sells ROUGH DIAMONDS... to site holders, who then cut or sell the rough to other dealers, who then cut or sell the rough to other dealers.... this is called the diamond pipeline.

Wholesalers buy their diamonds from manufacturers and brokers... (sort of). Basically, they might have a standing order with a manufacturer, or they wait for independent guys to show up with stones at their office in parcels, and they try to swing a deal.

Selling one stone - not as easy as it sounds. Why should I buy a stone from you when I usually buy 300 stones from my good friend Ari? They will know they have you over a barrel. They'll tell you your stone is not the grade you think... not the color you think, not the make (cut) you think.... Maybe that it’s not a diamond...They'll tell you that this particular good is just not selling right now - that there is low demand for it... They'll say they have too many of these same stones.... They'll offer you a low low price....

And if they don't switch stones on you (cause I mean, how the hell are you going to find a legitimate dealer.... walk up to the first jew you see in the district?) you might get 50% of Rap.

Cause even in the trade there are hierarchies... a 5% for having done previous business, 5% for having your own office, 5% for being of a particular ethnic group... 5% for having nice shoes.... 5% for just about anything...

I would try to sell it for more - like 25% below rap, maybe start there 22% to 25%, but I suspect that if you get 32-35% you should feel lucky. Let us know what happens.

RB
 

VVV

Rough_Rock
Joined
Aug 16, 2002
Messages
2
true dat. what a pain in the ass. how do you recommend i sell it then?
 

pqcollectibles

Ideal_Rock
Joined
Feb 22, 2003
Messages
3,441
Try eBay.


Figure out what it's worth, post pics and stats, list with a reserve, and sell it on eBay.
 
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