Sell in houston

[ewitte]

Does anyone know of a fair jeweler in Houston that buys loose diamonds? I purchased a 0.44ct diamond from ebay for about $345 including shipping. Supposedly the EGL certs were Pear, H, SI2, with no florescense, good cut, symmetry, etc. I took it to Houston Gold Exchange. He immediately said it was more like K-L for color. I was shown a I color to compare it too. Everything else seemed about fine. They offered me $200. I picked up $1400/ct off of his rapaport sheet and ran it through gold calculator to account for the other specs. It should have a rapaport value of about $550. I''m told the minimum I should accept ("dump value") is 60-80% of rapaport... possibly 55% for their trouble. Is it realistic to be looking for close to $350, or at least $300? I can always get my money back and return it. But I don''t want to go through shipping, etc if I can get near what I paid.

Eric

 

[Patty]

If you can return it, return it.

You will not get anything near what you paid for it if you try to sell it yourself, unless MAYBE on eBay. (And if you disclose the real color, you will probably not get what you paid.)

Most jewelers do not buy loose stones. At most, they may take it on consignment for you and then it could take months or longer for them to sell it.

 

[ewitte]

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On 7/17/2004 2:30:07 PM Patty wrote:

If you can return it, return it.

You will not get anything near what you paid for it if you try to sell it yourself, unless MAYBE on eBay. (And if you disclose the real color, you will probably not get what you paid.)

Most jewelers do not buy loose stones. At most, they may take it on consignment for you and then it could take months or longer for them to sell it.----------------

There has to be somewhere around town someone would recommend. I can try diamond wholsale on Westheimer. Part of it is finding someone who I could trust for selling to in the future. I made a few mistakes with this one. It should be easy to at least get dump value. Which means they can turn a profit the next day by dumping back on wholesale with little effort. That is the minimum offer a fair company would pay.

Eric

 

[Patty]

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Part of it is finding someone who I could trust for selling to in the future.
Eric----------------

Are you trying to recoup the money you spend on a bad purchase or are you trying to figure out a way to make a quick profit? Why would you need to sell to a jeweler in the future?

It seems that sending it back and getting your money refunded would be easier than shopping it around to jewelers who will "dump" it for you.

 

[ewitte]

No. It was the intention when I purchased it in the first place. The way it is I can probably get slightly less than I paid. If the stats were correct I would have been able to get more. Not actually a terrible purchase. It probably would have cost $600 or more at the store. I'll probably return it. Oh well. Maybe I'll come back to it when I have sufficent money to do it correctly. I actually talked with someone who told me the EGL stats can be a little off with either clarity or color and my best bet would be to get one with GIA certs. Not really off as much as some of the testing locations are not as strict. Also having a copy of the rap charts before buying would help too.

Eric

 

[Patty]

Yes, EGL has a reputation of being more lenient than GIA or AGS, although the New York EGL tends to be more accurate than the oversees EGLs.

You may want to read up on the various certifications as well as on the Rapaport prices here at Pricescope. I don't think that you can use the Rapaport price when determining a fair price to pay for a stone.

I'm still not clear on your plan...Are you hoping to buy stones online and then re-sell them at a profit, or are you buying a stone for personal use?

 

[ewitte]

That was the intention. Read step 3, number 2 here

http://www.diamondcuttersintl.com/diamond_education/articles/buying_diamonds/selling.html

Quote "Dump value is a trade expression — it means 60-80% of the diamond’s Rapaport value, and it’s the lowest price a diamond should ever sell for. If the jeweler offers you below 60%, don’t take it. He’s going for a fast buck, because he knows he can resell the stone overnight to a dealer at regular dump value."

Eric

 

[elmo]

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On 7/19/2004 6:29:13 AM ewitte wrote:

That was the intention. Read step 3, number 2 here


http://www.diamondcuttersintl.com/diamond_education/articles/buying_diamonds/selling.html


Quote 'Dump value is a trade expression — it means 60-80% of the diamond’s Rapaport value, and it’s the lowest price a diamond should ever sell for. If the jeweler offers you below 60%, don’t take it. He’s going for a fast buck, because he knows he can resell the stone overnight to a dealer at regular dump value.'
Eric----------------

That's not accurate advice, because consumers buy diamonds at 20-40 back all the time...not the ideals that are so popular here, but the commercial sort of cuts that make up most of the general market. This statement would be a little more believable for ideal rounds, although 80% is still high.

 

[ewitte]

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On 7/19/2004 10:27:06 AM elmo wrote:

----------------
On 7/19/2004 6:29:13 AM ewitte wrote:

That was the intention. Read step 3, number 2 here


http://www.diamondcuttersintl.com/diamond_education/articles/buying_diamonds/selling.html


Quote 'Dump value is a trade expression — it means 60-80% of the diamond’s Rapaport value, and it’s the lowest price a diamond should ever sell for. If the jeweler offers you below 60%, don’t take it. He’s going for a fast buck, because he knows he can resell the stone overnight to a dealer at regular dump value.'
Eric----------------

That's not accurate advice, because consumers buy diamonds at 20-40 back all the time...not the ideals that are so popular here, but the commercial sort of cuts that make up most of the general market. This statement would be a little more believable for ideal rounds, although 80% is still high.----------------

This is not a % of retail value. It is 60-80% of what dealers pay (rapaport value).

Eric

 

[noobie]

I don't know anything about selling diamonds, but it seems to me that there may be easier ways to make 20 or lose 50 bucks.




good luck with it