Thinking of selling a ring...

[lovemybling]

But have no idea where or how to start.

How does one determine the price to sell for?? Should it be about 1/2 what it would be new??

Is the best place Diamond bistro?? How do protect your self from scammers?? Do you accept paypal payment wait for funds to clear then ship ring?? Do you cover the cost of shipping or does buyer?? or does it depend on where you are shipping??

Any and all help is much welcomed

Thanks

 

[Lisa Loves Shiny]

What type of ring are you selling? For diamonds the rule of thumb is 30% of retail. Special cuts, bigger diamonds, brand name settings etc,. may enable you to sell at a higher price. Diamondbistro is a great forum to sell pre-loved jewelry but with that said Bistro members tend to buy from sellers they trust and may be hesitant to buy a big ticket item unless a return is guarenteed. Also if you sell on the Bistro you can check references from buyers who are members.

When I sell on the Bistro I usually charge $5 to $10 dollars for insured USPS shipping depending on the item. If it is a friend I usually defer shipping costs.

 

[minmin001]

To protect yourself with paypal, you should ship the item to the same confirmed paypal address that's on the paypal account. I like to send detail invoice that includes everything about the item and I normally calculated the shipping & insurance into the cost(remember you have to pay about 3% paypal fee w/in US and 4% international). If the buyer is international I ask them to cover the difference in paypal fee + shipping.

 

[Gypsy]

It really depends on what you have and the documentation you have with it.

30% isn't a good rule of thumb in my opinion. It really depends on the item.

A loose diamond is different from a colored stone is different from a band is different from earrings is different from settings.

Best advice is, for top dollar, lower the risk as much as possible. If you just want a quick sell, then price it at a bare minimum.

Ways to lower risk. If it's a brand name item, link to what a similar piece new costs. If you have the original paperwork, just mention that you have it (don't need to post it). If you have GIA lab reports or anything, fabulous. If your item is pricey but you don't have paper work a GOOD appraisal (independent or from somewhere with a good appraiser is what you need) is important. Make sure your appraisal values aren't inflated, as on DB people KNOW what the price of things should be and will not put up with that. GREAT pictures are HUGE for selling anything. It lowers your risk and theirs as they can see what they are buying, and you can always refer to the pics.

Then, also there is luck that plays a factor. You are selling something at the right time when someone else is looking to buy what you have.

And finally, if your item isn't a popular one for whatever reason, even if you have lab reports, appraisals and what not... be prepared that it might take a while. And that you may need to consider bargain pricing to get it to move.

 

[Dreamer_D]

In addition, the buyer will pay you, once you have the funds, THEN you ship the item! Make sure you ship insured with proof of delivery t othe PayPal verified address, I believe all of these elements are required to qualify for PayPal seller protection (such as it is).

 

[Gypsy]

In addition, the buyer will pay you, once you have the funds, THEN you ship the item! Make sure you ship insured with proof of delivery t othe PayPal verified address, I believe all of these elements are required to qualify for PayPal seller protection (such as it is).

Definitely.

 

[lovemybling]

thank so much for your replies. What I am thinking of selling is a Simon G band ring. I don't have paper work but you can see the Simon g stamp on the inside. I am also considering selling through Jbeg. Just think that might be the route to go since I am so inexperience and it is such a spendy piece. Maybe I will try diamond bistro with something less expensive.

As always thanks to all my knowledgable pricescope friends.

 

[Amys Bling]

good luck!