Question on resale value of diamond

[elisabeth_mimi]

I have a friend who is going through a divorce and wants to sell her wedding set. My question is about the diamond. She doesn''t know much on it and neither do I so i was wondering if anyone could help me!
She purchased the solitaire and the wrap (for the complete set) for $3698 total.
The diamon is a 1 carat princess cut with SI2 cut and the color is K.

That is all I know and that is all she knows. Whats a good asking price for this?

Thanks!

 

[mrssalvo]

this thread might be helpful..

https://www.pricescope.com/community/threads/reselling-gems-jewelry-what-can-you-expect.17952/

 

[elisabeth_mimi]

Thanks! But how do you know what wholesale is? I am very new to this whole thing

Thanks for all of your help!

 

[surfgirl]

In order to know what to ask for it, your friend will have to invest a little money into an independent appraisal. That will tell her the exact specs of her stones and set and if she tells the appraiser that this is an appraisal for re-sale, they can give her a fair market value for it and she can go from there. That''s really the only sensible way to know what to ask. Anything else is just guessing.

 

[elisabeth_mimi]

Ok thanks for the help

 

[mrssalvo]

I agree with surfgirl, your friend may have to invest in an appraisal to find out exactly what's she's got. i would also check with the store the rings were purchased, they may be able to sell them on consignment or something. be prepared that resale is difficult and your friend can expect about 1/3 of what they paid, maybe even less, in my opinion. maybe an expert will chime in with more concrete advice