Question about value?

[artdecolover71]

If you have your diamond engagement ring appraised by an independent (non jewelry store which I know are usually overinflated) who is doing grading based on GIA standards and then you later want to sell it, what would you list it at?

for example if a ring is appraised at $10,000.00, how much can you normally expect to get on the average from ebay/PS/ etc? thanks. Sorry, I hope this is the right forum. thanks!

 

[marymm]

Hopefully David Atlas or Neil will chime in, but appraisals are issued for different reasons and the amount on the appraisal will differ depending on its reason - was the appraisal for insurance purposes? or was it to determine if your original purchase price was fair market? or it's value in today's market?

If you really don't know an appropriate price to list it on the secondary market, I would suggest going back to your appraiser and asking him for his professional advice in that specific regard - he is already familiar with your item having issued an appraisal and I am assuming is in your geographical area, so he will likely be the best resource for you - and the cost for this specific advice/service should be significantly less than the cost of your original appraisal.

 

[artdecolover71]

the appraisal was determine the value in todays market, the jewelers appraisal that came with it was twice of what we paid for it so I wanted to get an independent appraisers input (which was still higher than what I paid).

 

[heididdl]

I am one of those "Coin, Gold and Diamond buyers" We usually take 20% ($2000-$2500) of the appraisal for our offer. Again we are buying to resell so we buy low. If you are to tell it retail you might be luck to get 40% of what you originally paid. I would first try to sell through PS preloved area or loupe troope or diamond bistro. Unfortunately not a great resale value. That being said if it is GIA or AGS certified you might do better than an uncertified stone. Then there is selling the pieces as a unit or selling the stone and selling the setting.

 

[artdecolover71]

thanks so much, that is all very useful info! I have a couple of different things I am thinking of selling so this is very informative.

 

[denverappraiser]

The usual definition of appraisals is to estimate the cost to replace the item at local retail with comparable new goods. There is NOT a direct conversion between that and what you can expect to realize from used items on the resale market. The problem is that replacement values contain huge components of labor and distribution costs. It’s sort of like selling your car for its weight in steel and then comparing that to the current new cost of that model.

Talk to your appraiser and make sure you asked the right question. Not all appraisals are about insurance and a competent appraiser should be able to answer the correct question. On the other hand, the correct answer to the wrong question is doing you no favors.

 

[artdecolover71]

yes when I asked him-he said I can tell you what it is worth on the street to sell versus what it would cost to buy new but what its value is to you as the owner, is again another part of the equation.

 

[denverappraiser]

OK, so I’m confused. If you asked your appraiser how much you could expect it to sell for in a secondary market like eBay, and that’s what he/she told you, why are you asking us how convert from appraisal value to resale value?

 

[artdecolover71]

sorry for the confusion, I did not ask him what it what go for on ebay or similar. I asked what it would be worth if I was to sell it for the gold and diamonds "on the street".

Regardless, I would ask here because this is a different group of people with a different insight into different markets (he does not buy or sell jewelry, he is just in the appraisal business!), but thanks for the input-

 

[denverappraiser]

He's actually seen the goods, we haven't. He's had the opportunity to discuss the market, we haven't. Again, there's no direct conversion between these numbers. If you want a different appraiser, find a different appraiser and let THEM see the goods and discuss the various markets with you. In any case, best of luck with it.

 

[artdecolover71]

Thanks. I am also planning on asking GOG when I go to see them. Thanks for your advice, your time is appreciated.