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Princess cut Buying and selling question

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nicstn

nicstn

Shiny_Rock
Joined
Jun 8, 2004
Messages
142
I am trying to sell my old e ring does anyone here have any advice where to post to sell? I have posted on Craiglist, I do No I don't.com and the online newspapers. Here are my ads below. I tried going to a jeweler but they want to give me 2 to 3k which was a shock but I was prepared for it. I thought about doing a upgrade but most jewelers don’t accept upgrades especially the ones mention here such as good old gold, winkflash, james allen and so on. Can anyone recommend a jeweler in the NJ/ NY area that does upgrades or buy diamonds? Thanks guys.
 
Thank you for the link was very informative.

Still I am having a hard time finding a jeweler for an upgrade most don''t want princess cuts or do upgrades. The place where I bought this ring is long gone. I am tiring to sell on my own to get the most $. I don’t feel comfortable leaving at a consignment shop or jeweler to sell w/ the economy and stores disappearing left and right. My hopes are to sell on my own or upgrade. So any recommendations of jewelers in NYC/Tristate area that would do upgrades would be ideal and the easiest for me to unload.
Any advice on shops guys?
 
The cash value of this to a retailer, reseller is well under $3,000. Even below $2K for most. Your asking price of $6K is not going to draw much attention from those who shop for below market price "bargains". I used to be active buyer, seller, dealer on a nationwide trading network and was shocked myself on how low the prices needed to be to attract real interest. I think that if you want get it sold, you''ll have to cut the price substantially.
 
I set my price of $6k to 6500k by appraisal and what I payed. I payed $8,900 back in 2004. I also looked online to what simliar diamonds where selling for with my stats and size. Most are going for $7500 and up for a similar stone. Do you think my sale price is not accurate? See stats below on center stone.

EGL USA Certificate
1.41ct
Rect. Mod. Brilliant
H
VS2
6.57 6.16 4.46
Depth 72.4
Table 83.0
Crown 5.7
Pavilion 63.3
Girdle thin to thick
Polish Good
Symmetry Good
Florescence none
Cutlet none
Ratio 1.7
UGS Appraisal Value $12,340
 
So if I''m am selling privately such as to a co worker or on a auction website I should lower my price alot. What do you recommend? Also what can I expect for a trade in on average. Mostly I have got a trade in price of 2 to 3k does that sound correct. Thanks guys.
 
I''ve seen jewelry items go for about 50% of the original purchase price, or less. It will be even harder to sell in this economy.
 
I would be surprised if 1.4ish H VS2 EGL certed princess stones are going for $7500 retail. It makes a big difference who graded the stone. I''m wondering if the stones you saw had GIA certs.

If you do decide to trade in for a new piece of jewelry, make sure you like the price of the new piece as well as what you are getting for the trade. With two variables, it can be difficult to tell if you''re really getting a good deal.

Since your ring is so unique, you may have a difficult time finding someone willing to buy it as a personal transaction. You may find that the stores offering $2k-$3k are your only real option. Or you might try dropping to price to somewhere in between $3k and the $5k just to see if you can do better than the jeweler offers.
 
I''ve run a couple of quick searches for similar stones. I can find GIA graded stones of similar (or slightly better - VS1) specs available online for under $6k. Taking into account the EGL grade, the cut/proportions and the fact that you are a private seller, I don''t think you are going to get much interest if you stay above $3k... Sorry.
 
There’s a 1.41/H/VS2 with GIA papers listed in the database here for $6572 retail. There are no EGL’s listed at the moment in that range. GIA/I/SI1/1.31-1.45, which is probably reasonably comparable has a dozen or so listings in the $4500 neighborhood. That’s retail from dealers, albeit discount sorts of dealers. As Dave points out, your only real selling advantage is your price and asking $3500 - $4000 of a retail buyer is pushing the limit. All things being equal, nearly everyone would prefer to buy from a dealer so the question becomes how much of a discount do you need to offer to offset this preference. As you’ve already observed, you can ask whatever you want but asking isn’t the same as getting. If you can find a buyer where that’s exactly what they’re looking for then you might be able to make the deal but if it’s someone who is going to be persuaded because it’s a ‘bargain’, which is nearly everybody shopping for used merchandise on ebay, IDNID or Craigslist, I think you’ll need to be lower than that. Your offer of $3k from a dealer who will pay hard money and take it into inventory rather than through a consignment is surprisingly high. If that’s a firm bid, I would seriously consider it.

Unfortunately, what you paid is irrelevant and the appraisal you have is, at best,unrelated to the question and at hand and at worst a work of fiction. Either way it doesn’t apply.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver
 
I forgot to answer your ‘trade in’ question. Assuming you’re working with someone other than the original seller, where you may have some sort of a contractual deal stemming from the original sale, it’s basically the same as selling one stone and buying another. Think of it as two different deals. The sale part is discussed above and the buy part gets discussed in a dozen threads a day so I don’t need to go into it here. The big thing to watch out for is when they get tied together and the boundary gets fuzzy. If they can raise the price on the new one by enough it’s easy to offer a good trade in and if they’re close to the margin on the new one you can expect them to drive a harder bargain on the one they’re buying from you. There’s no great secret here. The jeweler is going to make money on both deals, that’s their job, and if one is being driven down beyond their limits for whatever reason you can bet it will be offset by the other or they aren’t going to agree to the deal.

The solution is simple. Ask ‘em. They should be able to tell you exactly what they’re selling, exactly what they’re charging you and exactly what they’ll give you for yours. If you need help deciding whether to accept the deal, ask the gurus here or hire an independent appraiser to help.


Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver
 
Thank you so much for the great advice and info guys! You ROCK!
Yes the prices I looked at for a similar stone was GIA but I thought EGL USA cert was almost as good. I have got a offer of 3k for a sale of stone to jeweler and $4,800 from a private buyer. Should I take the $4,800 and run lol? Just want to make sure I'm getting a fair deal and enough to upgrade me to a nice 1.5 or 1.89 round stone, oval or cushion. I have 5k and whatever I make on top of the sale of this princess stone. So I would love a total of 9 to 10k to spend on a nice new stone. Should I only expect a sale of 2k to 3k from jeweler or 4k to 5k max privately on this ring then? Does that sound correct?
 
I think the experts would probably tell you to take the $4800 and run! (thats my advice). But...definitly
wait till the experts chime in!
 
Ha Ha thats what I''m thinking but will wait to hear from the experts.

With the 5k budget plus the $4800 to total $9,800 I think I can find my perfect oval or cushion or maybe even a really nice round. So excited!
 
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