To those of you who have sold a diamond

[cherij0411]

Where did you sell it?

I am in contact with WP Jewelers, Abe More, MJ Cabel. I am not sure if I should go the consignment route.

Thanks
Cheri Morgan

 

[yssie]

How big is the stone?
When did you acquire it?
Does it have any paperwork?
Is it currently loose or set?
Do you have clear photos of it?

 

[Starfacet]

Where did you sell it?

I am in contact with WP Jewelers, Abe More, MJ Cabel. I am not sure if I should go the consignment route.

Thanks
Cheri Morgan

Good Old Gold and a local second-hand jewelry store.

 

[cherij0411]

How big is the stone?
When did you acquire it?
Does it have any paperwork?
Is it currently loose or set?
Do you have clear photos of it?

It is set right now, 1.53 ct Emerald cut.
I got it in 2003 ,it has a GIA and I have the paperwork.
I have an in appraisal from an independent appraiser as well.
I do not have any clear pics right now, I need to take some.

Thank you

 

[AGBF]

I sold mine through my local jeweler whom I trusted. I had attempted to consign several diamonds with him at once. That was the only one that sold at the original asking price. I never attempted to sell a diamond or a piece of jewelry again, so I do not have a great deal of experience.

The stone I sold was a 1.25 carat E VS1 or VS2. Round brilliant. It had been one of a pair of earrings. It had a GIA cert.

AGBF

 

[yssie]

It is a pedigreed stone (you have a report from GIA), and though you haven't posted any further information it's at least of a desirable size. You could try selling it yourself (many PSers have used www.loupetroop.com for private sales) if you are able to get clear photos of it. Alternately, if you continue with a jeweller or a consignment operation, it'll be their responsibility to take saleable photos.

Sale to a jeweller:
Fast, safe, low effort on your part. Low return.

Consignment:
Safe, slow. Higher return than outright sale to a shop that will resell, but lower than selling yourself due to consignment fees. Low effort on your part.

Private sale:
Slow, risky, high effort on your part, highest return.

 

[denverappraiser]

Don't forget skill, or lack thereof. Particularly with private sales, some people are a lot better at this than others. This is not a gemological property. To an extent, this also applies to consignment and dealer sales as well. Fundamentally, if you don't understand who I'm talking about, it's you.

 

[LightBright]

Good Old Gold and a local second-hand jewelry store.

Starfacet, I wasn’t able to tell from GOG’s consignment page what exactly they charge as commission on the sale. Do you recall?

 

[Starfacet]

Starfacet, I wasn’t able to tell from GOG’s consignment page what exactly they charge as commission on the sale. Do you recall?

I'm sorry, I don't. It was a while ago.

 

[samselco]

Ever figure it out?

Where did you sell it?

I am in contact with WP Jewelers, Abe More, MJ Cabel. I am not sure if I should go the consignment route.

Thanks
Cheri Morgan

 

[Bron357]

Selling pre loved diamonds can be tricky, even if you have paperwork as most people still think they need a “new” diamond and only feel comfortable dealing with a trusted jeweller or well known and regarded diamond merchant.
The absolute worst place to sell is a pawnbroker, the best buyer ($$ wise) is a private transaction through a “free” platform ie Loupe Troop.
eBay will charge you around 13% with PayPal fees and isn’t for the faint of heart. Auction houses are good except their fees are around 20% for you to sell PLUS they hit up the buyer for another 20% and it’s always “who is there on the day”. Bonus is it’s quick and safe for you. Consignment is good but it might be a long slow process getting a sale depending on the traffic the vendor gets and their reputation. Most consignment places charge around 30% I believe. If time isn’t an issue, consignment might be safest and easiest for you.
And I’ll just add, it’s value isn’t what’s on the appraisal. These values are usually for insurance replacement value and often inflated (the insurance company is very happy for you to pay extra premium as it’s based on “sum insured” and you are happy because you think your ring is worth a lot).

 

[cherij0411]

Ever figure it out?

I have decided to keep and have it made into a necklace. Local jewelers quoted between 5 and 6500 as a offer. Wp online 5k, Abe Moore 5500-6200 and MJ Gabel said on consignment it could get 8-9, auction 6800-7400 and direct purchase 6k-6400 max.

 

[username7241]

I have decided to keep and have it made into a necklace. Local jewelers quoted between 5 and 6500 as a offer. Wp online 5k, Abe Moore 5500-6200 and MJ Gabel said on consignment it could get 8-9, auction 6800-7400 and direct purchase 6k-6400 max.

If I may ask what was the colour of the diamond and also clarity? D E F etc and Vs1 vvs1 and sl and so on. I also tried to sell but I just made it into a necklace as well

 

[seaurchin]

I also decided to keep my diamond (when I upgraded). Selling it seemed like too low of a return and/or too risky. I haven’t done anything with it yet though.

 

[username7241]

I also decided to keep my diamond (when I upgraded). Selling it seemed like too low of a return and/or too risky. I haven’t done anything with it yet though.

I understand. The thing is I really do want to sell, and it would be alot of help if you could share the colour and clarity of the diamond. It would be beneficial for me in purchasing future diamond as well so I dont get scammed with overpriced retail prices

 

[sledge]

@username7241 you resurrected a 5+ year old thread. Getting a response from the OP isn’t too promising.

@yssie gave a great and simplistic overview of various options and how it affects your expected sale price. There is likely a buyer for every diamond unless you have something really odd. But I also believe you have to set realistic expectations on price.

I relate buying/selling diamonds to vehicles. If you buy a new car then you don’t ever really expect to sell for the same price you paid. For diamonds I think it’s the same, probably about 50-70 cents on the dollar unless you get really lucky.

This is one of the reasons I believe working with diamond vendors with generous upgrade programs is so advantageous. Many times you get 100% trade value and it’s way less hassle.

I’ve not sold many diamonds but I have sold lots of vehicles. My methodology has changed over the years. Early on I traded to the dealer as it was easiest. Then I went into a phase where I would take ads in the local paper and car magazines. Sold a tricked out Jeep Wrangler on eBay once. Also sold a few on Craigslist and even FB marketplace (probably the easiest and most profitable sale). Used CarMax a couple of times (sell only, no buy). Also used Carvana (bought & sold, although different times).

Most recently bought my wife a turbo charged SUV and traded at the dealership. I didn’t expect to do so as my past experience was they offer the worst prices. We owned her other SUV free and clear so we had options and I was okay not selling/trading that day. We bought her old SUV just before COVID and sold for more than we initially paid. Those were unique market conditions obviously but the dealership was hungry and I used both Carvana and Zoom offers to juice up the deal.

The primary driver that has changed for me is how I value the deals. Early on it was about ease because I didn’t know what I was doing. Then it transformed to max dollars with max hassle. Now I’m kind of in between. I’m okay getting close to max if I can get a near instant deal. For me that means 30 days or less. But that’s because I value my time and energy higher than previously and financially I’m in a different spot. I can make more money by being decisive and moving on than waiting months to squeeze out $500-1,000 more.

Life is about balance. You’ve got to find yours.

 

[missy]

Since this thread was bumped up I will answer

I sold my OEC ER to a friend who is also a PSer.
We asked Grace to be our intermediary and she took payment and shipped the ring
She did this for me gratis because I was also purchasing a ring from her so I just paid the difference
All in all a very smooth pleasant experience and transaction. Both my friend and I ended up with the ring of our dreams. Win win

But I also set the price such that it would sell relatively quickly.
I wasn't interested in back and forth and I just wanted what I felt was a fair price so I could get the OEC of my dreams.
So as I see it we both came out ahead in this transaction. My friend got the ring she was in love with and so did I and by selling my OEC it made it affordable to get my current and final OEC

It was, IMO, meant to be for us both and made that more special because a friend is wearing and loving it and that makes me so happy

 

[mrs-b]

I have decided to keep and have it made into a necklace. Local jewelers quoted between 5 and 6500 as a offer. Wp online 5k, Abe Moore 5500-6200 and MJ Gabel said on consignment it could get 8-9, auction 6800-7400 and direct purchase 6k-6400 max.

Smart decision. This is BY FAR the best way to get the most out of any diamond you ever buy. Very, very rarely the price of diamonds will go up so much that you can sell a diamond for more than you paid, but, in general, selling diamonds always plays out at a loss for the person who originally bought the stone.

 

[Rons Wolfe]

I'd consider going through the Pre-loved forum here, using loupetroop. I'd also post as no return policy, but would waive that on request for people in see are regulars in here. I'd also be willing to send the item through an appraiser at the buyer's expense.