What are your thoughts on Price for pre loved diamond

[Wendylynne]

Hi all,

I am in the middle of an upgrade and am selling my 2.02 oval, f color, vs2.. Excellent cut, minimal bow tie . We bought it in 2003... Two questions I was offered 14k for stone- what do you experts think... Is it fair? Also- how much have diamond prices increased since 03?

I've attached a pic- the offer was for just the stone.

Thanks!

 

[kenny]

Hi all,

I am in the middle of an upgrade and am selling my 2.02 oval, f color, vs2.. Excellent cut, minimal bow tie . We bought it in 2003... Two questions I was offered 14k for stone- what do you experts think... Is it fair? Also- how much have diamond prices increased since 03?

I've attached a pic- the offer was for just the stone.

Thanks!

Which lab graded it?
AFAIK NO lab grades cuts of ovals.

 

[Wendylynne]

Sorry - it's Gia cert

 

[kenny]

I'd plug your diamond's specs into Bluenile's massive database of virtual stones.
You aren't a retailer, so price it at some percentage of Bluenile's average retail price.

Price it low to sell fast. (maybe 50% of today's retail?)
Get more money by pricing it higher but it'll sell more slowly if at all. (maybe 90% of today's retail?)

FWIW, I got top dollar (50% over what I paid 8 years ago) by consigning my diamond at a good retail seller GOG, but it took over a year to sell.
It was also a very high-demand stone.

 

[Gypsy]

Here are some comps (and I looked at more not posted here).
$25,180.00 http://goodoldgold.com/diamond/11707/

$ 22,610 http://www.jamesallen.com/loose-diamonds/oval-cut/2.02-carat-f-color-vs2-clarity-sku-243921

So I would comp it at 23,500 give or take.

So your offer of 14k is approximately 9,500 off current retail. That's a lot.

Ovals are hot right now. But you need exposure. I'd find out what percentage Good Old Gold takes on it's consignment. Then I'd work backward from a price of $21,000 (which would make it an attractive buy).

GOG has the best consignment for fancy cuts that gets exposure on this board.

If GOG is not going to get you more than 14k... then we can talk again.

 

[Wendylynne]

Thanks gypsy!! I was just doing that as well. I'll call gog.

 

[Wendylynne]

Kenny-

Just saw your comment on cut for my oval- I know it's excellent cut because I've owned this ring for 11 yrs and have had it appraised several times and have been told by the experts that the cut is excellent.

Thanks!!

 

[heididdl]

$15,000 is a great price for a resale on a ring. Unless you are selling it privately I think this is great. You can not compare to current prices as they are retail. Is this a private sale or trade in for your upgrade............

 

[Wendylynne]

It's a dealer. We bought the diamond from David s diamond and he did not honor his upgrade policy ( very annoying). We got soo annoyed... We bought my new stone from another dealer.

 

[heididdl]

At this point the others suggestions for consignment with GOG or a reputable jeweler is a good suggestion. You can also list it in diamond bistro or loupe troupe. But knowing you were offered $14,000 I'd conservatively raise the price for these two retail forums Good luck its a beaituful stone.

 

[Dreamer_D]

Kenny-

Just saw your comment on cut for my oval- I know it's excellent cut because I've owned this ring for 11 yrs and have had it appraised several times and have been told by the experts that the cut is excellent.

Thanks!!

Unfortunately, for selling all that matters is the information on the lab report, or perhaps the opinion of an appraiser chosen by the prospective buyer. Kenny asked about this point specifically because he was concerned your stone did not have a GIA report, given that they do not grade cut. Often when people come on PS and provide a cut grade for a fancy cut stone they have no lab report.

GOG is a good bet for consignment because they have all the tools necessary to provide objective validation of the cut quality -- information not on a lab report. That is useful when selling -- you need hard evidence to back up your own opinions about the quality of the cut of a fancy cut stone.

 

[Dancing Fire]

Sorry - it's Gia cert

I'd guess about $16-16.5K based on JA's price of $22,600