Trading old ER for earrings

[dde]

I need some help in what I can expect to get for my old ER. It was appraised 10 yrs ago at fair market = $3200. 0.71, H-I color, ?SI or VS1. It''s in a tension setting. I want to trade the ring for some diamond studs. Posts I''ve read say I can expect wholesale minus 25% for cash. But what about for a trade-in for earrings? I saw a pair I liked for retail $1450, cwt 1.0. Is this a fair trade? Or I could I go a little higher? Say, 1.2 cwt with a retail price of $2800. I''m not terribly concerned about specs on the earrings I just want to go as big as possible. thx - DR

 

[partgypsy]

first you need to find a place which will buy your ring. Then you can find out trade ins. It is difficult to get back close to what you paid for in a ring. I''m not sure where you heard that figure; I''ve heard 25-50% of what you paid for it is more common.

 

[Italiahaircolor]

If I were you, my first course of action would be to go to the store where I purchased the ring intially. They will most likely give you full value, $3200 or whatever it was you paid for it at the time of purchase, but you will probably have to adhere to their trade-in policy -- usually that means spending another dollar figure equvilent to the intial price or in some cases, spend as little as $1.00! You''ll most likely have to address this with your jeweler, if you can.

Other wise...taking a diamond into a random store is probably not the best solution. Stores will never give you more for your stone than what they could purchase a like stone for, wholesale. And if you plan on selling the setting too, you might get a hundred or so extra for it due to the hike in gold prices. It''s hard to estimate what the *actual* value of your diamond is because you''re unsure of the specifics...

I think, the first step would be to find out what your diamond is actually worth. You could probably negotiate an even trade for earrings at a store, but I''m not sure what carat weight that venture would reep for you. I''m approximating around $1200 or less and then it''s your choice as to weither or not you wish to contribute money towards the purchase to increase the carat weight.

Your other option would be to privately sell your ring. This is time consuming and tedious, however you''ll regain the highest money with this option. If you''re ring was appraised at $3200, you could reasonably ask and recieve around $2500 give or take a thousand. It''s important to remember that the appraised value of your ring always tends to be slightly higher than it''s actual worth, and to keep yourself competitive in the private seller market you will want to "low ball" the price.

It''s also important to be realistic--it can be shocking when trying to upgrade your jewelry to see how little the store will give you when you know full well how much you''d have to pay for that piece at the same store. I think you have a little research to do...and decide what you''re comfort level is with paying out of pocket money towards the earrings as well. I think you''ll most likely land around 1.0cttw or a bit less if you''re looking to make an even-steven trade.

Best wishes!!

 

[Diamond*Dana]

Depending on what you can get for it, you may be better off just keeping your stone and using that for one earring and then purchasing another stone that matches for the other earring. Then you could see about trading your ring setting towards earring settings.