Question about selling stone

[LittleSparkle]

Hello lovely Pricescopers,
If you don't mind, I would love to pick your collective brains about something. I recently sent a stone off to a jeweler in the hopes that the jeweler might offer to buy the stone. The jeweler responded and is interested in buying the stone, but made an offer that is almost 50% below the current price for an identical stone. This stone also happens to be housed in a setting (nothing intricate, but setting cost about $400).

Is this price what I should expect by trying to trade in/sell a stone? The other option is to consign the piece, but I'm not sure if that would fetch much more after consignment fees.

Appreciate any thoughts you may have!

 

[crbl999]

I would say 50% of retail is the going rate for second hand diamonds and might be slightly high. You may be able to get more doing consignment, but that would depend on the quality of the stone/setting.

 

[Gypsy]

Consignment is at 30 to 40 perfect right now. Crazy. If you send it to GOG or Pearlmans they might be able to consign it for you for less.

 

[diamondseeker2006]

The consignment percentage is often based on the value of the item. I think more expensive items have a lower percentage for the vendor. For example, Jewels By Erica Grace charges 15% on items up to $9999 with a $300 minimum, and 10% on items $12k and up (which is weird because it is unclear what happens between 10k and 12k!). GOG also has a scale depending on value.

When you are selling a diamond to a vendor, I imagine they are usually only interested in the stone and not the setting, so I wouldn't expect added value for that unless it is something like Tacori or Leon, etc.

Have you considered just listing it on Diamond Bistro and posting it on the Pre-loved forum?

 

[LittleSparkle]

Thank you for the responses, crbl999, Gypsy, and diamondseeker2006. I think that perhaps my best route may be to have the stone sent back and list it on Diamond Bistro myself. I have never sold anything online before (even Ebay!) without going through a retailer so was a little hesitant to post it myself.

 

[diamondseeker2006]

Do you mind saying what size stone we are talking about? Is it graded? Excellent cut?

 

[LittleSparkle]

Of course not!
It is a .34E SI2 (totally eye clean), triple AGS Ideal 0. I purchased it from Blue Nile years ago and had it set in a BGD bezel pendant. I just don't wear it enough these days!

 

[minmin001]

the 2nd hand stone normally gets offer 50% lower than the current market value, although many people try to sell them alot higher than that on e-bay etc. you can also try to sell it on the preloved PS forum and see if you can get a bit more than what they offered.

 

[Gypsy]

That would totally sell. Yeah you should list it yourself!

 

[minmin001]

Of course not!
It is a .34E SI2 (totally eye clean), triple AGS Ideal 0. I purchased it from Blue Nile years ago and had it set in a BGD bezel pendant. I just don't wear it enough these days!

oh wow, that's almost what I've been looking for for a long time.. just bought a set of ring a week ago so not sure about my budget anymore..

 

[diamondseeker2006]

Ditto to Gypsy. You should definitely list an AGS ideal cut stone in a pendant (to sell yourself). It will likely sell. In order to price it, go to BN and see what similar stones are selling for today. Then discount that by around a third and you can see what kind of offers you get. I'm betting with today's diamond prices that you can get back what you paid for the stone.

 

[LittleSparkle]

Hi minmin001, Gypsy, and diamondseeker2006! Ok, I'm sold! On selling the pendant myself. Now I just need to teach myself how to use Diamond Bistro and get this little guy back to me and polished up.

Thanks for the input! I think I would feel much more comfortable selling it if I got a little closer to what I paid for it.

 

[tyty333]

You know after you post on Diamond bistro then create a topic here so PSers know you have it up for sell. I would think
it would sell fairly easily since its a nice stone in a nice setting.


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