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Oval resale value

oval regret

Rough_Rock
Joined
Jan 10, 2021
Messages
15
Hi there,

I’ve been told that fancy diamond resale value is significantly lower than round solitaire. I was wondering how much would I be able to get back (50%, 60% ...) original sale price if I were to sell my 3.1 carat oval. Thanks.

spec:
3.1 carat
VS1
E color
Depth 66%
Table: 57% (thick - very thick)
measurement: 10.82 x 7.84 x5.18
Fluorescent: none 9024CB57-B071-48C1-B43E-411D1A29E2F6.jpeg 332D438A-8F50-4D84-84EE-62FEEF3B3538.jpeg 36CA7584-30C2-4EF1-B5E6-B0B7AEFF166A.jpeg
 

oldminer

Ideal_Rock
Trade
Joined
Sep 3, 2000
Messages
6,529
No one can guess about what your original cost was. The diamond has a relatively fixed value in the minds of diamond dealer buyers that has nothing to do with what you might have paid. If you bought the diamond with nearly no mark-up at all, you might get the percentages you mentions, but that is highly doubtful.
 

yssie

Super_Ideal_Rock
Premium
Joined
Aug 14, 2009
Messages
22,059
If you want to replace it with another stone, if you find a vendor who would take it in trade toward a new stone you’d likely do better than selling outright.

The mount is likely an almost-complete loss unless you keep it and reuse it.
 

RunningwithScissors

Brilliant_Rock
Joined
Apr 29, 2019
Messages
1,712
Also depends when you bought it. Diamond prices fluctuate.

My original e-ring was a 1 ct oval purchased in 2005. We sold it in 2019 to pay for an upgrade. Because it was well cut, an in-demand size, and we bought it when diamonds were considerably less then in 2019, we recouped the full price of the diamond (minus the setting.)
 

Mreader

Brilliant_Rock
Joined
Aug 14, 2018
Messages
1,229
I’m so sorry that your still unhappy with your ring :( I am flummoxed as to why your jeweler would not do an exchange once you got it. I wonder if there is any way to appeal to them to reconsider?
 

MillieLou

Shiny_Rock
Joined
Feb 27, 2020
Messages
393
I’m so sorry that your still unhappy with your ring :( I am flummoxed as to why your jeweler would not do an exchange once you got it. I wonder if there is any way to appeal to them to reconsider?

I agree, it seems such a shame to take a hit like that on a brand new ring. I am assuming from your previous posts that you want a different diamond / ring, rather than just wanting to get rid of it? (Apologies if circumstances have changed). If so, I would speak to the jeweller and ask if they would do an exchange for a higher priced item, or for a "restocking fee" - even if they wanted something like 10-15%, that's nothing compared to what you would lose selling and re-buying :(

It seems so strange that a reputable jeweller would not allow an exchange on a newly purchased, unused item. Has the jeweller definitely been asked about the exchange? I know you were unhappy that you had been cut out of the whole purchase (as I would be, to be honest) - is it possible it was a second-hand purchase or some other reason for it to be final sale..?
 

MollyMalone

Ideal_Rock
Premium
Joined
Jun 2, 2013
Messages
3,177
I’m so sorry that your still unhappy with your ring :( I am flummoxed as to why your jeweler would not do an exchange once you got it. I wonder if there is any way to appeal to them to reconsider?
I agree, it seems such a shame to take a hit like that on a brand new ring. I am assuming from your previous posts that you want a different diamond / ring, rather than just wanting to get rid of it? (Apologies if circumstances have changed). If so, I would speak to the jeweller and ask if they would do an exchange for a higher priced item, or for a "restocking fee" - even if they wanted something like 10-15%, that's nothing compared to what you would lose selling and re-buying :(

It seems so strange that a reputable jeweller would not allow an exchange on a newly purchased, unused item. Has the jeweller definitely been asked about the exchange? I know you were unhappy that you had been cut out of the whole purchase (as I would be, to be honest) - is it possible it was a second-hand purchase or some other reason for it to be final sale..?
If you take a look at ovalregret's very first post here on PS,
you'll see that this diamond was not already part of the jeweler's inventory.

The jeweler "called it in" for viewing. Had ovalregret's fiance decided against it, the jeweler would have returned the fiance's deposit, returned the stone, and not been out any money. But because ovalregret's fiance was pleased and purchased this stone, the jeweler promptly paid his source for it. It would be very unusual imo for his wholesaler to later agree to take it back & refund the jeweler.

If the jeweler thought he could quickly "flip" the diamond, he might be willing to swallow the cost, for the time being, by accepting the return in order to make it part of his inventory. But I imagine he doesn't think it's likely that he'll have a potential customer soon come into his store looking for a 3-3+ carat oval of such high color.
 

MillieLou

Shiny_Rock
Joined
Feb 27, 2020
Messages
393
Ah that makes sense, thank you @MollyMalone . It does not sound unreasonable of the jeweller.

OP I'm sorry I can't help with an estimate. It sounds like a very niche market. I would suggest getting the opinion of a consignment specialist who deals in high value items such as Jewels By Grace; I'm sure others here can suggest others who offer similar services.
 

Mreader

Brilliant_Rock
Joined
Aug 14, 2018
Messages
1,229
If you take a look at ovalregret's very first post here on PS,
you'll see that this diamond was not already part of the jeweler's inventory.

The jeweler "called it in" for viewing. Had ovalregret's fiance decided against it, the jeweler would have returned the fiance's deposit, returned the stone, and not been out any money. But because ovalregret's fiance was pleased and purchased this stone, the jeweler promptly paid his source for it. It would be very unusual imo for his wholesaler to later agree to take it back & refund the jeweler.

If the jeweler thought he could quickly "flip" the diamond, he might be willing to swallow the cost, for the time being, by accepting the return in order to make it part of his inventory. But I imagine he doesn't think it's likely that he'll have a potential customer soon come into his store looking for a 3-3+ carat oval of such high color.

I see. That makes much more sense now.
 

AprilBaby

Super_Ideal_Rock
Premium
Joined
Jul 17, 2008
Messages
11,799
Such a shame, a gorgeous ring!
 

denverappraiser

Ideal_Rock
Trade
Joined
Jul 21, 2004
Messages
8,893
Use the database her to get a feel for what similar stones in a competitive marketplace cost NOW. Use that in your formulas. What you paid doesn’t matter. Expect a bit of resistance. Jewelers don’t like to take 3 caraters into inventory because they’re kind of expensive and they move slowly. Consider consigning it to someone.
 

Bron357

Ideal_Rock
Premium
Joined
Jan 22, 2014
Messages
5,128
Hmmmmmm.
Its a shame you are wanting to sell your beautiful new engagement ring because its dimensions arent to your liking.
I understand that you are disappointed that your 3 carat Oval is visually slightly smaller than ideal proportions for a 3 carat oval but to sell it and lose $20,000 or more seems crazy.
In your first post you were concerned that money had been “wasted” because it “looked like” only 2.5 carat and that money could be spent elsewhere. Now you are considering taking a $20,000 or more loss on this ring AND then spend another large sum on its replacement.
It is a beautiful diamond ring and it looks HUGE on your finger. The “missing 1 mm” or so would not be visually appreciated it by anyone if you were to put a more ideally cut 3 carat oval diamond alongside it.
If you are wanting more visual finger coverage it would be more economical to up size the diamond halo. Take it up to 10 points per diamond and sell the original setting. Youll take a loss on the setting but that will be less of a loss than selling the 3 carat diamond.
 

headlight

Ideal_Rock
Joined
Nov 2, 2003
Messages
2,809
Can you post a video? I would like to get a better impression of what it looks like.
In the meantime, let’s review:
1. Looks huge, looks like a 3ct diamond;
2. Size of diamonds in halo and band is, IMO, perfection;
3. You are wearing a 3ct stone of VS1 clarity;
4. You are wearing a 3ct stone of E color.
5. Your beloved selected for you on his own a 3ct diamond in VS1 clarity, E color, in a halo with diamond shank.
6. You are extremely blessed to have such an incredible ring and an even more incredible fiancée/husband.
Please ignore any and all charts.
NO ONE would ever think for even a second that it is not a 3ct diamond.
Furthermore, before they could even begin to calculate in their mind the size of the diamond, they will be blinded by the glaring white light emitting from your massive E color stone.
Do not fret for one second more. You are the envy of every girl that sees your sparkler.
SMILE
 

yssie

Super_Ideal_Rock
Premium
Joined
Aug 14, 2009
Messages
22,059
Completely agree with previous posters.

You're going to take a bath selling this ring. Between a stone of such high value that it'll be hard to move and a used setting that offers no flexibility on stone size at all, if your original concern was "wasting money" - selling now is absolutely guaranteed to waste more.

We're a forum full of diamond nuts. We understanding wanting newer, better, bigger, higher colour, higher clarity, etc. We understand the mind-clean value of small changes that most others would never notice, let alone care about. However, if you're going to sell your ring, you should do so with eyes wide open to the monetary wastefulness of that decision. You might or might not be okay with that - we're not going to judge that.
 

Venusara

Rough_Rock
Joined
Dec 14, 2020
Messages
29
I saw your pictures in your original thread and it looks bigger than 3ct to me because your fingers are proportionately small! I don't think that little difference in face up size will be visible. I really hope you choose to keep it, it's an absolute banger! And I think it's so romantic that he tried to keep it as much of a surprise as he could, while also trying to figure out what your dream diamond is. He chose a beautiful diamond, and 3.1 carats is 3.1 carats at the end of the day!!
 

lovedogs

Super_Ideal_Rock
Premium
Joined
Jul 31, 2014
Messages
12,794
If you want to sell then its completely up to you. I said in your original thread that I think you are unhappy bc you weren't involved in the process, and it's totally fair to be upset about that.

But definitely understand that you'll spend a lot of $ trying to sell and then re buying a new stone bc you wont get what you paid by and stretch.

If you know all of the above and are ok with those issues then I think you should do what will make you happy. In the end, you just dont like this ring and that's ok. Just make sure you go in w your eyes open.
 

yssie

Super_Ideal_Rock
Premium
Joined
Aug 14, 2009
Messages
22,059
If you want to sell then its completely up to you. I said in your original thread that I think you are unhappy bc you weren't involved in the process, and it's totally fair to be upset about that.

But definitely understand that you'll spend a lot of $ trying to sell and then re buying a new stone bc you wont get what you paid by and stretch.

If you know all of the above and are ok with those issues then I think you should do what will make you happy. In the end, you just dont like this ring and that's ok. Just make sure you go in w your eyes open.

^ lovedogs said it better than me. But yeah. All of this.
 

AnastasiaBeaverhausen

Brilliant_Rock
Joined
Sep 11, 2013
Messages
1,387
OP, maybe it'd help put your mind at ease if you actually got to see more 2-3 ct ovals in-person and compare them to your own? Hopefully, you'd end up falling in love with your ring and choose it above all others! Lol. Or worst case scenario, you go, "Yup, I can definitely do better" and make up your mind to sell/trade what you have.
 

737lizakg

Brilliant_Rock
Premium
Joined
Oct 18, 2015
Messages
562
I understand being unhappy that you weren't involved. You have to look at the thing every day for the rest of your life. Being physically reminded that your partner didn't realise that a big part of the ring was the journey of chosing together is a feeling I know VERY well. If it helps at all, as much as I still don't love my original ring, I am sentimental about it now, whereas before I was just angry that he didn't do his due dilligence, was overcharged, and didn't seem to 'know' me. Now, I look down and I am reminded that he did his best, was very proud, but ultimately was not as capable as I am. It is a perfectly fitting representation of our life together! :lol:

But selling low to just be rid of it is something I think you may regret later on. The advice to take your ring and compare it to other ovals is a great idea. Be sure to ask them to deep clean your ring before looking at other ovals. A slightly dirty oval set into a ring will never measure up to a loose perfectly clean stone.

Have you contacted the branded oval cut vendors inquiring how much a trade would get you? If I were you I would start there.
 
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