Resale of Diamond

[artmom]

How much do you all think I could expect to sell an engagement ring for? Here are the stats...

Round brilliant, ideal
1.31 ct
E color
SI1 Clarity

In a Platinum Tiffany style band (3mm)

Appraised for $9,950

I have more information at home, but I''m at a loss, and need some quick ideas. Do you think I could at least get half?

Thank you so much.
ab

 

[denverappraiser]

It depends on who you are planning to sell it to and under what circumstances. There has been quite a bit of discussion on the forum about this kind of question. Use the search bar at the top right to look for terms like ''selling'' and ''resale value'' and see what comes up.

You can also use the search bar at the top of the page to find what the dealers here are charging for superficially similar stones.

Most towns have an assortment of people that are willing to buy from the public. They should be willing to give you a firm offer if you ask them. If your in, or near, a large city, they advertise under ''diamond buyers'' and similar headings in the yellow pages.

These two numbers are likely to be considerably different. If you can find a consumer interested in buying it, you will want to end up somewhere between these two. How close to the top (or bottom) will depend on your negotiation with the buyer.

Depending on what market the appraisal is purporting to describe, it may not apply to your situation at all and it''s a mistake to try and pick a simple ratio. There are far to many variables at play. If the appraisal doesn''t say what market they are describing, call them up and ask them. If they still won''t explain what they mean, ignore their opinion entirely.

Depending on the buyer, you may also have a fair number of questions revolving around who did the grading, who called it ''ideal'' and what they meant by use of that term.

Neil Beaty
GG(GIA) ISA NAJA
Independent Appraisals in Denver