Trade in gold ring with diamond?

[Grim789]

Ok so the whole reason I made this account was because I have a gold ring that has a diamond in it I'm assuming it's real it's an 18k gold ring with a decent diamond in it my grandmother gave it to me cause I am having money trouble. But I am not sure if I should take the ring and get the scrap for gold or if I should take the diamond out first then scrap the gold itself? I'm not to sure how the best way to go about this would be any suggestions would be greatly appreciated...

 

[marymm]

I would recommend you consult with one of the independent professional appraisers listed here https://www.pricescope.com/appraisers - please let us know if none of them are located near enough to you, and perhaps someone will have additional recommendations for someone in your area.

An independent appraiser will be able to examine your ring and advise you as to its condition, quality and diamond specs, and also give you advice as to the best way to sell it depending on your specific needs (perhaps you need to sell it as fast as possible, or are able to wait a bit in order to get the highest price).

In order to get a fair price, you really need to be an informed seller, armed with detailed information about the ring setting and the diamond.

 

[Niel]

you're not going to get much for scrap for gold. Get some good photos and post it on here....
www.loupetroop.com

 

[kenny]

You need money fast.
Unfortunately that, and not being sure what you have, the worst way to sell.

One diamond can be worth 10 even 20 times what another is worth, even when both appear similar to you or I.
Pros will know what you have so you could easily be ripped off … particularly since you said it's a 'good' diamond.

You need to find out:
1. What you have.
2. What it's worth in various markets … from retail on Park Ave. NY, to what a Detroit pawn shop would offer you.

The most certain way to find out #1 is to have the diamond removed from the setting and send it to GIA in NY or California for a grading report.
That will take time and money but will make the sale go more quickly, justify the price, and protect you by establishing exactly what you have.

An alternative is to get it appraised.
But you must pay an independent professional appraiser who does not have the conflict of interest of being a buyer/seller.
Here's a link to professional appraisers … https://www.pricescope.com/appraisers

Do NOT walk into a jewelry store and ask them what it's worth because you want to sell it.
It may be worth $50,000 but they tell you it's worth $500 but will give you $750 because you are such a nice guy.

Consigning it gets you the highest price, even after the commission, but probably takes the longest and you don't get your money till it sells.
A pawn shop gives you cash immediately, but at the lowest price.
Loupetroupe.com is a good route, but you likely will have to sell it for 50 to 80% of todays retail price since you are not a jewelry store.
But you keep all the money, but have to meet a stranger from the Internet at a Starbucks. .. or work out the trust issues of shipping it … (before or after the funds clear?)
Unlike gold, diamonds are not a commodity that sell at one universally-agreed to price + a relatively small feel.

 

[tyty333]

Do you have a photo you can post?

 

[Grim789]

Hi thank you all for your quick responses. I live inKentucky and I looked to see if there were any appraisers in my are nothing returned for the whole state:/. I will post a picture of it later she said she might have a couple more for me I will post up as well. I'm new to the whole diamond buisness I'm glad I. Necked here first I was always afraid that as one of you mentioned it would be worth a hearty sum of money and them give me little to nothing for it. As soon as she gets back and gives me the others she is talking about I will post picks of all of them. I actually have a jewel magnify glass but it's not very helpful when you don't know what to look for lol.

 

[Grim789]

Here's one of them I tried to get some shot through the magnify glass.

 

[KaeKae]

Grim, can you read the markings inside the ring? It should say 18k, or 14k, and maybe some other mark?

 

[Grim789]

Yeah it says 18k KCE

 

[KaeKae]

Ok. I'm sorry I cannot tell you any more, I just wanted to rule out a little concern. You see, that style was very popular with a certain tv station's cz line, maybe 10 or 15 years ago. But it doesn't look like it's that. I don't know about now, but their gold used to be marked DQ or CZ with the 14k or 18k. Good luck to you!

 

[Grim789]

Ok well I'm really in hopes that it is not cz if on the off chance it is would it be more profitable to sell the ring as is or just get the gold value? But what are suggestions as far as finding out if they are real diamonds since there are no appraisers in my state should I go to a jewelry store not to sell but get an opinion?

I did the fog test no sure how accurate it is but all of them instantly Defog before I can even get the chance to look at them.

 

[KaeKae]

I'm by far not the most knowledgeable here, but I can answer that one

Most jewelers can test for whether the stones are diamond. They have a little tool that can tell you right away.

 

[Grim789]

Awesome I was going to check around tomorrow just to see what kind of offers I can get I'm going to wait for others to respond on here before I do anything. I appreciate the timely response

 

[LaraOnline]

If you do decide to sell, make sure you clean the ring really well first.
Ammonia and dishwashing detergent, or perhaps Handy Andy or other cleaner which contains ammonia, is good to clean jewellery in, added to a cup of hot tap water to make a fairly weak solution, rinsing off after in clean hot tap water (plug in the sink please!! lol).

Some people use a soft brush to clean around the fiddly bits - I sometimes use a soft clean makeup brush as I once broke a prong using an old toothbrush!

You might even want a professional jeweller to clean it for you - often they will do it no charge and it will make a very big difference in your ring's appearance. It's not for nothing that professional shops always have their wares super sparkling clean.
Good luck!

 

[chrono]

I would double check the stamp on the inside of the ring. A local jewellery shop with a bench can check for this easily and quickly, often times at no cost or very low cost to you.

18K GE = Electroplated with 18K gold.
18K HGE = Hard gold electroplated in 18K

 

[madelise]

18K HGE = Hard gold electroplated in 18K

That's what I was thinking...

 

[minousbijoux]

18K HGE = Hard gold electroplated in 18K

That's what I was thinking...

Yeah, I'm afraid of how easily these three initials can be confused...

 

[Gypsy]

Go to a jeweler have it cleaned up. Find out what the carat weight is and what the approximate color and clarity of the stones is. Spend 45 dollars to have it dipped in rhodium. Then come back here and we'll tell you what to put as your reserve price to list it on ebay.

 

[Gypsy]

Oh, and only do the rhodium plating if the color on the stones is above I and the clarity is above SI1.

 

[Grim789]

Hey thanks everyone I actually took it to a jewlery store that was highest rated in my area lector plated and not diamonds . But I am still interested in selling anyone have any opinions on what I should list the price for I can't do eBay my paypal got froze because I simply moved and switched bank accounts and I spent a year trying to get it un froze but anyone who has had trouble with PayPal knows what I'm talking about there customer service is s**t. But o well any opinions are valued ...

 

[madelise]

Open a second ebay and paypal account. Tada! Voila, problem solved.
You won't get much for it, though... You'll be lucky if you get $20-50.

 

[chrono]

You'll be lucky if you get $20-50.

+1. I'm sorry.

 

[manderz]

Open a second ebay and paypal account. Tada! Voila, problem solved.

True story. When I got married, they wanted more documentation that the DMV or Social Security Administration to change my name. Needless to say, I did not provide said documentation.

 

[Grim789]

Thank you all much appreciation for all your insights and advice I know we're I will be coming to for advice from now on .