setting upgrade, what can i expect?

[danfitz36]

i'm considering buying a second hand engagement ring, but would need to update the setting. it currently has a blue nile Nouveau ring, will i be able to get a fair price for a trade in? what is a fair price?

 

[D&T]

settings are almost a lost cause sometimes, You don't normally get much for a second hand mounting at all, you can resell it for more than scrap value though, so I wouldn't get my hopes up high on a trade in for settings, unless it is a designer setting that could yield a a little higher sale.

It might be more worth it to set something else like a colored stone to enjoy as a right hand ring.

 

[danfitz36]

i have some more details on the materials for these rings. there should be 35 diamonds that have a total weight between 5/8 and 2/3 ct. the platinum is 95% pure and is about 8.5 grams total. i know how to figure out the scrap metal price, but i don't know where to find scrap diamond prices. if someone could help me out there i would at least know the bottom line price for the materials and i could hope to get more than that.

does anyone know of any good websites to try to sell settings and bands?

 

[mrssalvo]

Do you have a picture? There are a few vendors who might use it as a trade in if you are buying another setting from them. Pearlmans does offer consignment and might be willing to just consign it for you. If you're not in any hurry for cash you might get a little more than if you just scrap it. You just aren't going to get much by scrapping. Have you looked up the setting on Blue Nile's site and what it's currently priced at?

 

[danfitz36]

yeah, the blue nile retail cost is $3,345.

http://www.bluenile.com/diamond-engagment-ring-set-platinum_7972

 

[diamondseeker2006]

You won't get much for it, but I agree with trying to sell it as it is rather than scrap. Consignment or ebay would be the way to go.

 

[mrssalvo]

I'd probably call or email Pearlmans and talk to Bill to see how much you think you could sell it for. Is it in good condition? It might be worth having it polished. If anything he can give you an idea of what you'd get in the market place. I'm not exactly sure how trade ins work but I do know Pearlmans will do that so you could ask him how much they'd give you towards a trade if you went that option as well. Ebay or craigslist is always an option too but most people are looking for a great deal so you probably wouldn't get close to half of what it sells for new. JewelsbyEricaGrace does consignment is well. They specialize in Antique's but do have a modern section with rings on consignment so you might check with them as well.

 

[Sheherizaad]

If you can afford to wait, I'd put it up on eBay. If it's worth over $3k today, some enterprising soul may take the chance and buy it from you directly if you put it up for say $2k. Offer a refund gaurantee and better yet, if you happen to know anyone who is an Ebay seller with exceptional reviews, put the item through them (and simply tell them what you told us).

Good luck.

 

[mrssalvo]

If you do decide to do ebay, i'd price it for what you'd pay if you were buying a second hand setting. Be sure to calculate in the ebay and paypal fees as well. I'm not sure someone would pay 2k for a used non-designer setting on ebay but I could be wrong. I agree with offering a refund is a good idea.

 

[diamondseeker2006]

If you do decide to do ebay, i'd price it for what you'd pay if you were buying a second hand setting. Be sure to calculate in the ebay and paypal fees as well. I'm not sure someone would pay 2k for a used non-designer setting on ebay but I could be wrong. I agree with offering a refund is a good idea.

I agree. A non-designer setting won't bring 2/3rds of the original price. Maybe 1/3.

 

[danfitz36]

if we're talking about 1/3 the price i would think that's close to the scrap value anyway. the platinum is worth about $500 but i don't know what the diamonds are worth. can anyone out there estimate what a jeweler would pay for 35 diamonds with a total weight around .65ct? it would be in trade as i still need to get a setting for the stone, so maybe that helps a little.

 

[D&T]

you are talking about almost less than 2 points each for those diamonds. The price of making your particular setting is not so much in those small diamonds, but the labor cost of setting those small diamonds plus the platinum metal. your really not going to make much off of those melees maybe $5 each at best, but most can/will just go to their jeweler to get those size diamonds diamond themselves, with more certainty that they are not chipped or heavily included coming out of a second hand ring (not sure what the quality of this setting, I'm just generalizing).

 

[mrssalvo]

Yes, the diamonds are not worth much at all, unfortunately. You would probably get your best price keeping the ring intact and consigning (or possibly ebay) with $ towards a trade coming in second. Non of us responding are jewelers though so your best bet is to contact a couple and see what they will give you. Then you will have real numbers to base your decision on.

 

[D&T]

Yes, the diamonds are not worth much at all, unfortunately. You would probably get your best price keeping the ring intact and consigning (or possibly ebay) with $ towards a trade coming in second. Non of us responding are jewelers though so your best bet is to contact a couple and see what they will give you. Then you will have real numbers to base your decision on.

ditto... I'd definitely keep it in tact for selling

 

[yssie]

Metal prices http://www.metalprices.com/

Yes, the diamonds are not worth much at all, unfortunately. You would probably get your best price keeping the ring intact and consigning (or possibly ebay) with $ towards a trade coming in second. Non of us responding are jewelers though so your best bet is to contact a couple and see what they will give you. Then you will have real numbers to base your decision on.

ditto... I'd definitely keep it in tact for selling

And thritto. Prices of used goods on ebay have gone through the roof from what I'm seeing, maybe to your benefit!