What is a fair price for this diamond ring?

[chingirl]

This is my old engagement ring. I want to sell this ring, but I have no idea what a fair price. I am uploading some pictures for you to look. My ex boyfriend purchased it at a pawn shop for $450. I had it appraised at a jeweler (to get insurance) and it came up as a total replacement value of $4850.00. I know this really doesn't mean much. The center stone is a marquise cut .56 carat diamond. It's GIA rating is VS1-F. It is tension set and has ten small princess cut diamonds below it. They equal around .56 carats and average rating is VS-IJ. The band is 14k white gold. Inside the ring is "KOBI 14k". I want to be fair in my asking price, but I don't want to lose out on it's value. Is it even worth more than $450? I assumed it was. Maybe you have some opinions? Thanks for your help. The upload wasn't working, so here is where you can view the ring: **edited by moderator. please upload photos to forum directly**

Here is the appraisal and where the inclusion is located at: **edited by moderator. please upload photos to forum directly**

 

[Gypsy]

So marquise aren't very popular, although they are starting to get more interest again. I do think that if the color and clarity on the center stone are accurate it is worth what he paid.

Here's on on ebay that's similar to yours. http://www.ebay.com/itm/400153537998?ssPageName=STRK:MEWAX:IT&_trksid=p3984.m1423.l2649 Your stone is larger and your setting is similar in style, but not platinum so it all evens out in terms of price. That said, it hasn't sold (I've been watching it for a while) at the price it's at so if you are looking to sell yours you might want to keep that in mind.

You say your center stone has a GIA rating. Does that mean it's got a lab report or just that the appraiser used GIA standards and came up with F VS1? Cause that makes a difference in the price you can ask, and a difference on how quick it might sell.

It's a very pretty stone though, so I think you might have a better chance selling it if you take the stone out of the setting. A larger number of people are interested in unset stones than ones that are set, especially when the settings are a bit dated.

 

[chingirl]

Hi Gypsy. Thanks for responding! I believe the jeweler used GIA standards to come up with those. He looked at the ring, took measurements, pictures etc. It took him about an hour to do and then I took the ring back home with me. I then picked up the appraisal a week later. I don't think labwork was involved? I have an offer of $550 right now. What do you think?

 

[kenny]

It is tension set ...

FYI that is not a tension setting because there is metal all around the ring.
Tension settings have a gap in the metal for the diamond.

This is a tension setting.

 

[chingirl]

Would it be "channel set at its points"? That was written on the appraisal. I always thought it was tension set. Thanks for clearing that up.

 

[Gypsy]

Hi Gypsy. Thanks for responding! I believe the jeweler used GIA standards to come up with those. He looked at the ring, took measurements, pictures etc. It took him about an hour to do and then I took the ring back home with me. I then picked up the appraisal a week later. I don't think labwork was involved? I have an offer of $550 right now. What do you think?

Well, assuming the appraisal isn't inflated (and it might be considering he placed the replacement value so high plus it was graded set, which is never accurate) and the stone is an F VS. IF it actually had a lab report it would be worth about this price: http://www.jamesallen.com/diamonds/F-VS1-Very-Good-Cut-Marquise-Diamond-1501682.asp So about 1100. The setting isn't going to be worth more than a 150 in terms of resale because the style is very specific and it won't take other stones well so it would be bought for scrap.

But your stone doesn't have a lab report. So it's not going to be worth that much. So let's say 900 for the stone's worth and 150 for the setting.

That's around 1000 (rough estimate, I am not an appraiser). I think 550 is lower than *I* personally would want to sell it for. I'd be shooting for around 650. But if you just want to get rid of it, and don't want to wait until another buyer comes along it might not be worth it to you to wait considering the difference is only 100.

But that's only if it is an FVS and there are good chances it's not an F.

Can you counter them at 650 and then see if they will meet you in the middle at 600? Or just offer them 600?

 

[chingirl]

I was actually thinking of asking $600-650. Funny how I just came up with that and you agree. However, this person that offered $550, I don't know. I could probably say $600 and they might take it. Thanks so much for your help.