VALUE OF MY RING?????????

[moniandtico]

I bought my engagement ring at the diamond district in new york city about 4 years ago. I am looking to change my ring for a better quality ring but wanted to sell my original ring first. I was hoping someone qualified could advise me how much my ring is truly worth.
I have a 2 carat princess cut diamond, the color is J and clarity is VS1.

Any info would be greatly appreciated!

Monica

 

[z78gml]

I DONT KNOW THE VALUE OF YOUR RING. GENERALLY WHEN YOU SELL IT BACK TO A JEWELER YOUR GOING TO TAKE A LOST. IF YOU HAVE A CERTIFICATE MAYBE IT WONT BE SO DEEP. I WOULD SUGGEST YOU TO GO BACK TO YOUR ORIGINAL JEWELER AND SEE IF YOU CAN UPGRADE YOUR RING INSTEAD.

 

[Bagpuss]

If you click on 'Web Vendors' at the top of the page, you can put in the specifications of your diamond and you'll get similar diamonds coming up with their prices. But be warned that on the secondary market you won't get the full price that you or your SO paid. I take it that you didn't have a trade up arrangement?


There are various methods of selling a ring. Through a jeweller, privately, via ebay etc. There is advice on this board if you look through the forums on the home page and find the one entitled 'Selling a diamond' under the heading Diamond Book.

 

[Todd07]

Monica,


Guessing the resale value is a tough thing from what I've seen here. My suggestions are




Read these posts:


Selling a diamond in FAQ


Selling a diamond in Diamond Book




Then, get an updated appraisal from an independent appraiser. If you don't know the why, read these links:

Appraisers


Getting the most out of your jewelry appraisal.


The appraiser can give you a good idea on it's resale value in addition to the replacement retail value. It will also be a good reference doc when you shop your ring around

 

[diamondsbylauren]

HiMonica,
It's likely that you will take some loss re-selling a dimaond you purchased retail 2 years ago- though there are ways to make it less.
First , and best, if you like the original seller, is seeing if they will work with you to trade up.

If you are going to sell, or attempt to trade with a new seller,a GIA report is going to help you.
A stone with a GIA report is going to bring a much better price- plus, if you have a GIA report, and will post the stats, we might be better able to gauge what your stone is worth.
SO- DOes the diamond have a Gem Lab report, and if so, who issued it?

 

[moniandtico]

Thank you everybody for responding so quick!!
I guess I should have said that the ring did come with a gaurantee that whenever I want to upgrade I will be given the full purchase value as the trade in amount. The reason I was looking to sell elsewhere and how much I would be loosing from doing that is because I just didn't feel very comfortable with the service towards the end of the sale. I felt kind of pressured by the sales guy and since it is a family business I assume everyone is the same. If possible I would just like to look elsewhere. I want to work with someone that is glad to help and give honest advice rather than just wanting to make a sale. But if I will loose too much then I of course would go back to the original store.

I will look on the sections you all suggested.
p.s. i am looking to change my diamond for a radiant cut diamond, does anyone have any advice on princess vs. radiant. I love the princess cut but want the corners round (I think it gives the stone a softer look). I don't know which looks more brilliant.
ok that's all. thanks again!!!

 

[Todd07]

Here is my take, based on what I've seen posted.




Guaranteed trade in values don't guarantee a good deal. it's a marketing strategy to get you back in their store.




The store is a business that needs to make their usual profit margin. If they give you a great trade in value then they will not make much when they resell your ring, thus they need to charge full price on the ring you upgrade to. It's unlikely you will be able to negotiate the price on the new diamond.




The advantage of using a trade-in policy is convience. You don't have to mess with trying to sell your ring at the full resale price. Many people lose big time because they don't have the time or know how to get the most on resale.




For convenience sake, why not check out the original supplier


- do they give you a good feeling this time?


- do the math on what they quote for your new diamond vs. an internet purchase.