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Trade in Value?

Discussion in 'RockyTalky' started by yfiteit, Mar 31, 2012.

  1. yfiteit
    Rough_Rock

    Messages:
    8
    Joined:
    Mar 12, 2012
    by yfiteit » Mar 31, 2012
    I have an old engagement ring that I bought a while ago. I am in the process of purchasing a new one and wanted guidance on how much I could get for the old ring. It is a 1.71 carat, Color E, SI2 clarity round diamond. I have no idea what the ring is now worth, although I do know what I paid for it back then. I am in South Florida and was thinking about selling it to a wholesaler in the diamond district. However I want to get an honest opinion before I do, so I can get the maximum return value. I am taking the money from this and putting it into a new diamond ring. Can anyone give me an idea of what I might be able to get for the diamond? I have attached the GIA certificate and pictures of the ring.

    Thanks,

    GIA Report.JPG

    GIA Report 1.JPG

    Ring Pic 1.JPG

    Ring pic 2.JPG
     
  2. diamondseeker2006
    Super_Ideal_Rock

    Messages:
    50,405
    Joined:
    Jan 11, 2006
    by diamondseeker2006 » Mar 31, 2012
    The ring is pretty, but I am afraid the diamond is poorly cut. GIA reports now give an actual cut grade, and excellent cut is desirable along with very good to excellent on polish and symmetry. The thick girdle is probably hiding some weight and it faces up more like a 1.6 ct diamond. You might just go to several places and see what offers you get, wholesalers and regular jewelers. Diamonds went up a lot in the last year, so that will be in your favor in selling, not in buying, unfortunately. Used settings usually sell for a fraction of the original price.

    When you start looking for a new ring, come here first and we can help you get an excellent cut stone. The cut is what makes the diamond have the best light return and sparkle!
     
  3. Dancing Fire
    Super_Ideal_Rock

    Messages:
    25,283
    Joined:
    Apr 3, 2004
    by Dancing Fire » Mar 31, 2012
    another option would be to recut the stone... ;)
     
  4. Lula
    Ideal_Rock

    Messages:
    4,448
    Joined:
    Apr 5, 2009
    by Lula » Mar 31, 2012
    It's a high color (E) diamond in a carat weight over 1.5 carat with a GIA certificate. Most people -- and many jewelers -- would consider that a very, very nice diamond. Most people (and jewelers) don't know a thing about cut grades, so you may get a good price for this diamond. Use the search at the top of this page and check to see what diamonds with "good cut" are selling for. Without knowing more about the actual dimensions of your diamond, e.g., depth and table percentage, we can make no assumptions about its actual cut quality. Is there a diagram of the profile of the diamond with some numbers on it?

    ETA: I just did a search, and found a 1.64 F SI2 "very good cut" diamond.
    http://www.jamesallen.com/diamonds/...nd-Diamond-1480607.asp?b=16&a=12&c=77&cid=131

    ETA: I just saw that the depth on your diamond is 62.3% and the table is 58%. Those numbers do not tell the whole story, but they also are within the range of a decent cut. So, again, just from the information you've got, we can't make any assumptions about the quality of the cut.
     
  5. denverappraiser
    Ideal_Rock
    Trade

    Messages:
    8,216
    Joined:
    Jul 21, 2004
    by denverappraiser » Mar 31, 2012
    Start with a vist to a professional appraiser. They should be able to advise you both on what you have and what possible avenues you have for selling it. There's a list under the 'resources' tab at the top of the page. I agree with Lula above, that sounds like a fairly desirable stone for the right market. Bear in mind that it's unlikely you'll be able to get the prices being asked by the dealers here. What you paid doesn't matter unless you're doing a trade-in deal with the person who sold it to you and you've got some sort of contract with them that applies to the new deal.
     

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