Selling/ Buying a stone

[that_someone_special]

I am wondering about the process of selling a stone to fund an upgrade.

Are their any online dealers that buy stones for a percentage? what is that percentage? Or is it easier to sell stones on ebay/ CL?

Just curious. And thinking.

I'm wondering if you had a stone that was worth $5k or so (what they are selling for right now) and wanted to get a $7k stone what would be the best way to go about that.

Sorry to be cryptic.

 

[oldminer]

Trading a stone in against another is often the best way to get the greatest amount, but you have to face the fact that you won't come out financially on the plus side. Just to keep it simple, let's say you have a diamond which has a Pricescope average asking price of $5K retail. Let's assume it costs the dealer $4200. When you offer to trade in (after you already have the best cash price) the dealer will be buying in a stone he likely does not have an immediate sale for, so he will need to hold onto the traded diamond for who knows how long. Maybe the trade in value will be in the $3K range, plus or minus depending on the saleability of the traded diamond.

If you sell to dealers who pay immediately you won't do better. Selling on EBay is like asking for trouble and if you ask it often will find you. Leaving a diamond on consignment with a "trusted" retailer may work out a bit higher, but when will you get paid? WHen will the stone sell? Will it ever sell at the agreed price? You have no idea and never will. Most of these consignments end with no sale or less money in the end just to finish the deal.

Never suggest you have a trade in until AFTER you have the right cash price. Otherwise you have defeated the entire process of doing the job correctly. Good luck.

 

[that_someone_special]

Thank you for the help!! I appreciate it.