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Selling a ring

Discussion in 'RockyTalky' started by sstebbins, Sep 11, 2001.

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  1. sstebbins
    Rough_Rock

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    by sstebbins » Sep 11, 2001
    A couple of years ago I bought a round brilliant 2.5 ct I-1, G, stone, mounted on a 14 ct y/g ring. I want to sell the ring, but found out selling one over the internet and comparing price offers is not as easy as buying. Any ideas? ------------------
    [email protected]
     
    


    


  2. Garry H (Cut Nut)
    Super_Ideal_Rock
    Trade

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  3. bacon
    Rough_Rock

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    by bacon » Sep 11, 2001
    On trade ups you stand to lose much more than 10% You will never not lose money in a trade in. It is so much easier to hide profit on a trade in than buying outright.
     
  4. Garry H (Cut Nut)
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  5. oldminer
    Ideal_Rock
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    by oldminer » Sep 11, 2001
    The issue with jewelry and gems is that they last so long and so many customers have been told these items are "investments" and "will always be worth what they paid". Eventually, some folks find out that they have not made great investments and that jewelry and gems are very difficult to re-sell to anyone at the retail level.Most things we buy that are luxury items wear out or simple rot over time. We never will sell them second hand. But jewelry lasts long enough to find out how the marketplace really works. At least jewelry and gems have continuing value while most all other luxury items go to a zero value at the end of their utility... It isn't all bad news. Capitalism is pretty tough when the reality of it all must be faced.------------------
    David Atlas
    Accredited Gem Appraisers
     
  6. sstebbins
    Rough_Rock

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    by sstebbins » Sep 11, 2001
    Thanks for the message. I had no illusions when I bought the ring, assuming the entire cost was lost at time of purchase. So, my interest is simply to get rid of the ring and to be able to show it to a range of buyers. [email protected]
     
  7. bacon
    Rough_Rock

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    by bacon » Sep 11, 2001
    I also have noticed it is diffcult to get the amount I paid for virtually everything I buy. Whether it is a cigar, a car, a suit, a boat, a vacuum, wedding pictures. I guess that is the free market at work.
     
  8. BEDAZZLED
    Shiny_Rock

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    by BEDAZZLED » Sep 11, 2001
    Just a comment...I was trying to sell a w/g channel set baguette mounting that I purchased in 1993 for $1500. There are 8 stones, approx. 1.45CT, H COLOR, VS CLARITY. The jeweler only wanted to give me $300.00 for the mounting. I told him to keep his $300 and I kept the setting. You can always reset the stones and scrap the metal.Moreover, people should consider going back to the traditional engagment rings that always remain CLASSIC.
     
  9. Garry H (Cut Nut)
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    by Garry H (Cut Nut) » Sep 11, 2001
    Yes to the 1st bit.
    No the bank is bust and you cant get money for food.
    You starve.
    You die.
    Slowly.
    It hurts.
     
  10. mbn
    Shiny_Rock

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    by mbn » Sep 11, 2001
    You can post on ebay.com bc it's an auction place, and you can see who bids the most for the ring.I am also interested in place where I can buy used jewelry, diamond rings because I don't want to pay full price...jewelries are very expensive to buy, but once you buy, you can't get same price you paid for and you are lucky if you can get 50% back. This may not apply to diamond rings though
     
    


    


  11. Garry H (Cut Nut)
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    by Garry H (Cut Nut) » Sep 11, 2001
    Portable means you can run away if you home is bombed and the bank is burned to the ground.
    Portable means it goes with you.
    Sorry, but in Indonesia this is what happened to some people.
    Garry
     
  12. mbn
    Shiny_Rock

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    by mbn » Sep 11, 2001
    quote: The dreadful events in America in September will start a global trend to “portable wealth as an investment in security”.
    Can you explain why it is the reason?
     
  13. mbn
    Shiny_Rock

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    by mbn » Sep 11, 2001
    oh yeah? if u wear it and something happend like september 11th, you're dead along w/the ring, or if jewelries are in safe, and bank got bombed, there goes your jewelries too.
     
  14. pricescope
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    by pricescope » Sep 11, 2001
    I just love it (sense of humor I mean)
     
  15. sstebbins
    Rough_Rock

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    by sstebbins » Sep 11, 2001
    Dear mbn- "Portable" most often means "easy to sell" in professional investor jargon, and its' hoped for result is lower price volatility. This is why the yield on US Treasury notes has fallen so much. The proportion of portfolios invested in this way may have been permanently altered. The wlllingness to accept higher price and liquidity risk usually wanes in recessions anyway...both for individuals and for institutional investors. How long risk avoidance will last this time is hard to measure. "Reaching" for extra returns has recently proven to be painful. The market can take a long time to forget the spanking its getting.
    ------------------
    [email protected]
     
    


    


  16. mbn
    Shiny_Rock

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    by mbn » Sep 11, 2001
    when you cash in gold esp diamond, you still lose a lot of money, but at least you can still get some money for them.almost all stores, you lose money when you sell, and lose 10% or none when you trade-up.princess cut and other shapes comes and go, but they are still diamonds and some people like them, so you can still sell them, but not as easily as rounds. However princess cuts, and marquise are very popular than other shapes, so selling the princess cut may not be so hard
     
  17. Garry H (Cut Nut)
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    by Garry H (Cut Nut) » Sep 11, 2001
    I had been asked by a journalist to write something about this topic.
    Some of this is for English speakers and readers, so I wont apologise for spelling correctly [​IMG]
    .
    Jewellery as an investment - Buying and selling for profit Because jewellery and gems last so long, it is common for sales people to say these items are "investments" and "will always be worth what they cost". That is true for replacement purposes because jewels appreciate; where as – fridges and most stuff depreciate.
    Most luxury items we buy wear out or rot (quote Dave Atlas - Oldminer). It never occurs to us to sell them second hand. But jewellery, and especially diamonds, can last forever and have more “intrinsic value” than cars and houses. Land has “Intrinsic value” and so too do gold and diamonds. But the “fashion value” can be fickle, unless the piece is a rare collectable.
    To realise the value in your jewellery the biggest problem is finding a buyer, a buyer who shares your taste and wants to buy what you want to sell right now. Consider: -
    1. Do buyers trust you? How do they know its real? A jewellers name and reputation can get a big brand premium. Jewellers like Tiffany command a premium because of the trust factor.
    2. You offer a buyer little or no flexibility or service with regard to ring size and lengths etc.
    3. Someone might only want your stones and perhaps half the value is in the setting? Buyers want ready made solutions that they can see and try on.
    4. Is it still fashionable?
    .
    An average jewellery shop has 5000 items and makes 5000 sales a year, that’s one stock turn per year. Dress shops sell four seasons of stock a year, and we know from end of season sales that they have huge mark-ups. Jewellers need mark-ups to stay in business.
    Why buy jewellery as an investment?
    1. Not everyone trusts banks. This is especially true in Asian and southern European communities, where often +10% of wealth is “portable”. Cashing in gold and diamonds helped many Indonesian Chinese escaped their troubled country in the last Asian economic collapse.
    The dreadful events in America in September will start a global trend to “portable wealth as an investment in security”.
    2. Some women consider their jewels as “running away stuff”. When a relationship breaks down even liberated women rarely give back the jewels.
    3. Most jewels are an emotional or family investment; a band of diamonds to mark a child’s birth, a ruby bangle for a 40th wedding anniversary and so on. They are usually an important part of an inheritance.
    4. Investment paintings are valuable paintings. The painting costs say $100,000 (and the frame say $1,000). The cost and bother of selling an expensive piece is relatively easier. A $100,000 diamond can have a $1,000 setting or fashion value.
    5. As the value goes up, seller’s margins come down, just like in real estate. Markets for selling high value jewels in Australia are not as established as they are in places like New York and London.
    6. Most buyers can compare the prices of 20 similar cars, properties or auctions of similar paintings and gain a level of expertise. As an investment jewellery requires a lot of expertise.
    What is the best investment?
    OK you are not buying jewellery to sell for a profit. But you want to buy something that will gain in intrinsic value.
    1. It is a good idea to buy something that can be worn most of the time (not left at home for thieves).
    2. Some people believe a single diamond is a better investment than say a pair or a matched set of 3 for a ring. There is no logic for one bigger diamond going up in value faster than three smaller stones. But it may be easier to sell a single stone than a collection, and a single stone setting may cost less.
    3. Have you heard the line; “investment diamonds must be flawless or VVS quality”. What rubbish! The highest clarity diamonds are the hardest for you to sell. Medium quality diamonds (with no visible imperfections or obvious discolouration) are more saleable, and go up in value at a proportional rate to rarer more expensive diamonds.
    4. Princess cuts are hot at the moment, but in a few years they will be passé. Heart shapes, marquise and other shapes come and go in fashion, but round brilliant cut diamonds are definitely the best most resell-able in the long-term.
    5. 90% of round diamonds are poorly cut. A clever buyer will buy a non-traditional ‘Ideal Cut' diamond. The GIA is close to establishing a standard for Ideal Cut; there is no universal standard at present. But a group of us working together online from Russia, America, Canada and Sweden have defined Ideal Cut ahead of the GIA.
    .
    There are lots of opportunities for those prepared to do some homework via pricescope and the internet to both enjoy beautiful diamonds and secure a bit of diversity in your investments.
    But don't buy with a goal of making money by reselling unless you are prepared to make it your reason to exist.I would be happy for anyone to pick and edit this for me please, before I submit it.
     
  18. mbn
    Shiny_Rock

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    by mbn » Oct 1, 2001
    I thought it's the other way around that u lose money trading in, or trade-up. logically, u shouldn't lose trading up if u trade up at same store u bought stone from, but some stores don't have trade-up policy w/out u losing 10% of price u bought stone for which sucks.
     
  19. BEDAZZLED
    Shiny_Rock

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    by BEDAZZLED » Oct 1, 2001
    Please clarify...What is the difference between a trade-up and a trade-in.Does trade-up mean that you plan to spend more money on a new piece???
     
  20. mbn
    Shiny_Rock

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    by mbn » Oct 2, 2001
    trade up means u spend more money on a bigger rock vs trade in where u spend money on a similar rock or something else.
     
  21. mbn
    Shiny_Rock

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    by mbn » Oct 2, 2001
    trade up means u spend more money on a bigger rock vs trade in where u spend money on a similar rock or something else.
     
  22. mbn
    Shiny_Rock

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    by mbn » Oct 2, 2001
    trade up means u spend more money on a bigger rock vs trade in where u spend money on a similar rock or something else.
     
  23. mbn
    Shiny_Rock

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    by mbn » Oct 2, 2001
    trade up means u spend more money on a bigger rock vs trade in where u spend money on a similar rock or something else.
     
  24. mbn
    Shiny_Rock

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    by mbn » Oct 2, 2001
    trade up means you buy a bigger rock vs trade in you buy similar size or something else.
     
  25. mbn
    Shiny_Rock

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    by mbn » Oct 2, 2001
    trade up means you buy a bigger rock vs trade in you buy similar size or something else.some jewelry store, once you bought the rock, no return policy, adn if you exchange for a different shape or something else, you lose 10%. I guess because their profit is low...
     
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