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Pricing Question

stargurl78

Ideal_Rock
Joined
Apr 19, 2010
Messages
3,296
If I can't post this question here, please feel to report/delete.

I used to be around PS a lot before having kids and purchased quite a few items that I just simply no longer wear so I'd like to try to sell them, in order to have some funds for a 5-stone band. I need some help with the pricing of the items though. I know some colored stones have become more rare since I was around before and may have gone up in value from what I paid for them. On the other hand some items may not be as popular so I may take more of a hit on those than expected. I'm just not sure if I should solely base my asking price on what I paid or for what similar items go for now. For some of the stones, I just can't seem to find anything comparable out there. Let me know if any of you can guide me to some help with this... TIA!!
 

diamondseeker2006

Super_Ideal_Rock
Premium
Joined
Jan 11, 2006
Messages
58,302
I think it is a combination of what you paid and what the item is worth now. For example, if I bought a diamond for $10k and the same diamond sells for $15k, then I am going to price it under the current price and hope to get 75-80% of that if it is a well cut, desirable stone. Of course, diamond prices have been going down since they spiked up in 2011, so it is possible than someone selling now might take a larger hit.

When you overprice too much, I think that discourages some potential bidders. But people will always ask if you take a lower price, so you do have to have a little cushion in order to reduce the price. I'd always state in the listing that the price is $xx or best offer. I do think it is easier to price diamonds over colored stones.
 

stargurl78

Ideal_Rock
Joined
Apr 19, 2010
Messages
3,296
diamondseeker2006|1460089884|4016838 said:
I think it is a combination of what you paid and what the item is worth now. For example, if I bought a diamond for $10k and the same diamond sells for $15k, then I am going to price it under the current price and hope to get 75-80% of that if it is a well cut, desirable stone. Of course, diamond prices have been going down since they spiked up in 2011, so it is possible than someone selling now might take a larger hit.

When you overprice too much, I think that discourages some potential bidders. But people will always ask if you take a lower price, so you do have to have a little cushion in order to reduce the price. I'd always state in the listing that the price is $xx or best offer. I do think it is easier to price diamonds over colored stones.

Thank you DS. I definitely don't want to overprice anything, as I really want to unload. Unfortunately most of the items are colored stones so I'm clueless what to post them for. For example, I've had a blue sapphire listed for quite some time that is listed for 25% less than what I paid and it hasn't moved. It's a lovely well-cut stone (but I admit I'm not the best at taking pictures).

I will likely do a discounted price based on what the value would be now (or if I can't find comparables, I'll base the discounted price off of what I paid), but allow offers. I think that will be my best bet.

Thank you again!
 
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