should i consider a used diamond

[tribecaguy]

so i''m looking to spend $12k on a an engagement ring. I have been browsing pricescope and the internet a week or so and every so often I see the post of "I need to sell my engagement ring - what do i do?" Most responses to this is that an individual seller will only get a fraction back depending on how they sell their ring.

As a buyer should I consider looking at buying a ring (or a center stone) from someone like this? If so where do I look? Is this a big market or could it take a long time to find someone looking to unload a diamond?

By the way, I''m in nyc which I think helps matters.

 

[CharmyPoo]

If I could find what I wanted on the second hand market, I would absolutely go for it. I have purchased some great second hand pieces that I adore. They were all in excellent condition after a cleaning and really no different than my brand new pieces. Granted, you need to make sure you know what you are doing - know what to look for, get it approriately appraised, understand the quality of the stone. The best bet for me is to purchase either second hand branded products (you have to know how to tell authentic versus not). Or purchasing second hand jewelry that was once purchased from a reputable PS vendor - you can always go back to the vendor to discuss the purchase (these are really rare though).

You can look at places like craigslist, kijiji, or some jewelry specific classifieds that I am not allowed to post on here. You can also check out companies that offer consignment services like Signed Pieces, Jewelry by Erica Grace etc.

As for pricing, don't always expect to find it at 50% off. I very rarely find deals that good.

There are also great finds to be had on eBay. Here are some I have been eying - I would make an offer to see how low they will go. Also, you need to watch out for people who replace branded center stones with crappy stones. They don't usually make that clear in their posting.

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=300419886726

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=190390743564

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=260570053281

 

[Lorelei]

Date: 4/25/2010 1:08:13 PM
Author:tribecaguy
so i'm looking to spend $12k on a an engagement ring. I have been browsing pricescope and the internet a week or so and every so often I see the post of 'I need to sell my engagement ring - what do i do?' Most responses to this is that an individual seller will only get a fraction back depending on how they sell their ring.

As a buyer should I consider looking at buying a ring (or a center stone) from someone like this? If so where do I look? Is this a big market or could it take a long time to find someone looking to unload a diamond?

By the way, I'm in nyc which I think helps matters.

You can certainly do that but I wouldn't advise using online auctions and be careful with classified ads. Remember if you don't buy from a known vendor and something goes wrong you might have little recourse. You could try some vendors that have consignment programs, I have listed some below to see what you can find, also vendors that sell estate pieces.

www.highperformancediamonds.com - now I don't know if Wink still has any consignment pieces available but if he sees this he will say yay or nay!

www.jewelsbyericagrace.com often have antique stones or estate pieces.

www.pearlmansjewelers.com sometimes have secondary market pieces available

www.signedpieces.com as above

 

[Andelain]

I just bought a couple of branded diamonds from Jewels by Erica Grace and got them for about half of retail. I didn''t hesitate.

 

[HopeDream]

If having a precision cut stone with top light performance is your goal, then you are better off going with a PS vendor (contact them to see if they have any consignment peices) I''m sure they can find you something fabulous in your budget.

If your main goal is size and you have a tolerance for vastly overestimated color and clarity and marginal certification by no-name labs look into public second hand sources. If you are concerned about light performance buy a loupe and an idealoscope (little pocket-size viewers that will allow you to guage light return). Some people like cruising pawn shops. Keep in mind that grade-setting inclusions are often set hidden under prongs as a matter of routine, so judging the clarity of set stones is a gamble - expect the stone''s clarity to drop if you have the stone unmounted and sent to GIA or AGS for accurate grading.

When looking in the second hand market don''t be thrown off by the uglieness of the setting a nice stone could be mounted in. You can always reset a fabulous stone in a nice setting for 1-3k, but a marginal stone in a nice setting will be mediocre forever.

Ebay is like that shady guy on the street corner who opens his coat and says "Wanna buy a watch?" Expect to be taken for a ride, and in the unlikely event you get a deal, thank your lucky stars. beware of heavily photo-shopped diamonds on ebay - a favorite trick is photographing the diamond in black and white - to make a J look like a D, and then coloring a few of the facets pastel colors to simulate fire - diamonds are not rainbows, do not buy a diamond based on a multicolored photo.

If you are looking for an antique or vintage setting, know what size of ring you need to get. Counter to the myth of infinite re-sizeability, most mountings can only be sized up or down one size or they lose their roundness and become a funny oval shape: 67 or 78 = ok 49 = not going to happen.
Bear in mind that an "estate" (used) ring may have already been sized and may look funny if you size it further. Sizing down rings with stones set in the band can loosen those stones and increase the liklihood of their fallling out.

AVOID: buyng from family, friends, and friends of friends - these kind of deals often do not work out well.

Above all : You get what you pay for. Do not expect any sweet deals.

good luck.

 

[MichelleCarmen]

I would think your best luck is going with a reputable vendor. You can use the search option here to look up companies.

I'd totally stay clear of eBay and only consider bying from someone on CL if they agree to meet you at an appraisers and you can get an independant appraisal. Don't trust the appaisal the seller has b/c it could be from a mall jeweler who inflats their prices.

A pawn shop may be okay, but then again, they could take you for a ride. Be sure to buy a loop if you shop at pawn shops and do not trust what they say re: color/clarity. A few weeks back I sold a bunch of yellow gold I had and while at the shop, showed the guy one of my diamond pendants and he told me that it was valued at $4K, which was a lot more than what I paid.

 

[yssie]

jbeg sometimes has rings on consignment, and loose stones. If I wasn''t tied to another vendor (who I''m very happy with) I would have been sorely tempted by a couple of her larger stones!

 

[kenny]

Yes, learn tons, protect yourself by paying a professional appraiser who does not sell diamonds and be careful with your security.
Only consider stones with AGS or GIA reports.
Other labs play loosie goosie with the grades so you don't know what the grades really are and therefore what the price should be.

You can save around half though it will take more time and work.