selling small diamond

[turismo]

Hi,

I posted a few weeks ago about selling a diamond and didn''t get any replies. I suspect that is because there are a lot of posts about this topic already on the board. However, I''ve read all of them and I think that the recommendations there are to sell larger diamonds than I''m dealing with. I need to sell a diamond for a family member. It''s a small diamond, without a cert, but I do have an appraisal. The appraisal says-

.63 ct, 6 prong platinum 2MM band
5.05-5.07 x 3.8 MM
depth 75%
table 63%
girdle Very Thick
culet Small
color F
clarity S11
est ret value $3000

I''m wondering how I can sell this diamond for the best price for my sibling who broke off the engagement a few years ago. I recently bought a ring for my fiance and got lots of help from all the great people here. I really enjoyed buying the diamond (never thought I could -enjoy- spending all that money!) thanks to everyone here. Now I''m on the flip side and want to figure out how to sell one and get the best price for my sibling... all the info here on selling a diamond is for much more expensive diamonds. What is my best bet to sell this size diamond and how much do you all think I can expect to get for this one? Hope you can help me-- I''ve promised I would take care of this, so I hope I can do it with your help!

Thanks!
-T

 

[perry]

Turismo:

Your delema is the proof against the myth that diamonds are an investment. Unless you have one of the 1 in a mijllion truely rare stones and cuts - there is almost no market for selling "used" diamonds at a reasonable price.

You will probably not be able to sell it at all - unless you are willing to accept 1/4 to 1/2 of what you think the value is.

A jewelry store that is willing to take it under consignment, or outright buy it used, is your best bet.

I do not deal with ebay and do not recommend that. Too many problems, to few facts and too much fiction. There was a person here a year ago that listed a new (never worn) e-ring assembled by one of the oft mentioned pricescope vendors - who if I recall correctly did not get a single hit at 1/2 of what they paid for the ring.

There are other stratagies - but alll are probably long term or have a high risk of your being ripped off.

Perry

 

[MichelleCarmen]

Hi,

As Perry mentioned, you can try selling the diamond through a consignment shop, or another option would be placing a classified ad in the newspaper.

You will NOT be able to get even close to the original cost AND keep in mind that appraisals are generally inflated so even if you figure you''ll get 1/2 of original price, chances are original price will be less than the $3K listed on the appraisal. Also, appraisals can be off in both color and clarity. The stone you''re trying to sell may not even be an F color, but could be a G instead. It''s not entirely honest to sell as an F when you don''t have any certification.

 

[MissAva]

Or perhaps if moeny is not an issue make it into a gift for someone...lovely size for a pendent. But perry is right you will likely get less then a 1/3 of what your appraisal says. I am sorry.

 

[MichelleCarmen]

Even if your siblling does attempt to sell the diamond, it may be a good idea to reset it into a pendant BEFORE selling. Some are superstitious about buying an eng. diamond from a relationship that didn''t work out.

 

[cflutist]

MC, here is a story for you.

I wore original e-ring diamond (in a pendant from husband #1)
on my wedding day to websailor (husband #2).

Is that considered bad luck?

 

[turismo]

Hi,

Thanks for the help. As far as the "F" color goes, I''m just stating what is says on the appraisal. I wish there were a cert for this, it would certainly make things easier. I found out that the original purchase price was $1300.

I''m not selling it because my sis needs the money- more because she wants to get rid of it. She doesn''t want to sell it herself, so I told her I''d do it, so of course I want to get the most I can possibly get for her. I''ve thought about getting it set in a pendant, but I know she still wouldn''t want it, and I wouldn''t know what to do with it (my fiance already has a diamond pendant!).

All the consignment shops I have talked to won''t take anything below .75 ct, and most below 1.0ct.

I suppose I could sell it "as is" on ebay, showing a picture of the appraisal form I have. I just want to make sure I get the best deal. I am leaning that way for now, but am waiting for a few more call-backs from diamond-buyers.

I''ll let you guys know how it turns out, just for fun.

-T

 

[MichelleCarmen]

Just to warn you - bidders like amazing deals when shopping on eBay. I sold a pair of diamond earrings there and barely made anything. If your sister is just looking to get rid of the diamond, maybe she''ll be pleased if the stone sells for a couple hundred!?

Hope all works out!

 

[glitterata]

Has your sister considered donating it to a charity and deducting it from her taxes? That might be cathartic, it could help some needy people, and it depending on her tax situation, it could even end up saving her as much money as she''d get by selling it.