What's the best way to unload my engagement ring?

[ihy138]

Hi all,

I have a 1.57 carat OEC/early transitional in a halo that was once my engagement ring (see image). However, now that I am divorced I don't wear it (duh) and I also can't see myself resetting it as I am trying to downsize my collection in general. My concern is that the diamond has a couple of, um, quirks. It has a carbon spot just off the culet, which can't really be seen except up close but I understand that this will be off-putting to buyers. Unfortunately, about a year ago I also somehow chipped the stone on the crown. Because of these factors, I wouldn't even remotely know how to price it. It's about a K in color but not GIA certed.

Does anyone have any ideas? I was thinking of even selling it to a vendor or something but I'm not sure if this is even an option. How would you price it if you were selling this on Loupe Troop or something similar? Any advice would be appreciated. Thank you!

 

[whitewave]

Well, because of the chip, you may want to pay to get it appraised and/or GIA certified. It could be a hard sell without documentation.

@Karl_K @Texas Leaguer @oldminer any ideas?

 

[SimoneDi]

Depending on how bad the chip is, you may want to have it fixed, if possible. I read before that Adam from OWD has recut some old diamonds.

LT and Diamond Bistro are great for consumer to consumer sale, but you also might want to co-sign it. Perhaps, reach out to Erica at LAD and see what she is thinking for pricing. Her co-signment rates are very competitive.
It is a pretty ring! Best of luck with your sale!

 

[BlingDreams]

Hi all,

I have a 1.57 carat OEC/early transitional in a halo that was once my engagement ring (see image). However, now that I am divorced I don't wear it (duh) and I also can't see myself resetting it as I am trying to downsize my collection in general. My concern is that the diamond has a couple of, um, quirks. It has a carbon spot just off the culet, which can't really be seen except up close but I understand that this will be off-putting to buyers. Unfortunately, about a year ago I also somehow chipped the stone on the crown. Because of these factors, I wouldn't even remotely know how to price it. It's about a K in color but not GIA certed.

Does anyone have any ideas? I was thinking of even selling it to a vendor or something but I'm not sure if this is even an option. How would you price it if you were selling this on Loupe Troop or something similar? Any advice would be appreciated. Thank you!

Have you thought of possibly having it recut? That might take care of the carbon spot and chip, plus make it more brilliant. Perhaps the cost of the recut would be offset by the increase in sales price plus make it easier to unload.

 

[Karl_K]

I cant name names being in the trade but there are a couple vendors who specialize in old cuts who are popular here I would reach out to them and see who is interested in consignment, possibly helping with repair work/grading report as needed before putting it on the market.
While they reduce the value some what small chips aren't a kiss of death on value in old cuts like modern cuts.

 

[ihy138]

Well, because of the chip, you may want to pay to get it appraised and/or GIA certified. It could be a hard sell without documentation.

@Karl_K @Texas Leaguer @oldminer any ideas?

That's true, thank you for your input! I did have my jeweler appraise it pre-chip but I could do that again and I imagine it would be cheaper than GIA certification, although maybe pretty meaningless to buyers.

Depending on how bad the chip is, you may want to have it fixed, if possible. I read before that Adam from OWD has recut some old diamonds.

LT and Diamond Bistro are great for consumer to consumer sale, but you also might want to co-sign it. Perhaps, reach out to Erica at LAD and see what she is thinking for pricing. Her co-signment rates are very competitive.
It is a pretty ring! Best of luck with your sale!

I have thought about consigning, but putting myself in their shoes I don't think I would want to accept a consignment that might be such a hard sell. I never really thought of asking though! I've worked with Grace on consignments a million times but never Erica. Maybe I should see what she thinks. Thank you!

ILikeShiny - I had looked into having it re-cut to deal with the chip after it happened. I asked 2 vendors (Single Stone and I believe Good Old Gold), and they both quoted me about 1,200-1,500 to recut. I just wasn't sure that it was worth it because I personally was fine with the chip. I'm not sure if it would add that much to the sale value, especially given the carbon spot? Thanks for your input!

 

[ihy138]

I cant name names being in the trade but there are a couple vendors who specialize in old cuts who are popular here I would reach out to them and see who is interested in consignment, possibly helping with repair work/grading report as needed.

Thank you for your input! I guess it can't hurt to reach out to see if the consignment would be worth it. I'm sure they would be honest with me if it wouldn't.

 

[Karl_K]

Thank you for your input! I guess it can't hurt to reach out to see if the consignment would be worth it. I'm sure they would be honest with me if it wouldn't.

I don't see any reason they wouldn't be honest about it.
Just be prepared for however the answer goes.

Best of luck to you!

 

[Texas Leaguer]

I agree with Karl. Exploring consignment through a reputable dealer in vintage jewelry is your best bet. On your own you are not likely to get your money out of re-cutting/certification, and you take on all the hassles. But depending on the particulars, a trusted broker may advise doing that and can help you with that.
Many buyers of vintage diamonds and jewelry do not mind issues like chips, carbon spots, low color. If issues are relatively minor, and if the stone is showy and pretty, it will find a home.

 

[denverappraiser]

A chipped I1/K/Euro is not an easy thing to sell and it probably isn’t going to bring the price you’re hoping for. That said, start with a competent appraiser. You need more information. Way too much is being guessed at.

 

[SimoneDi]

Ok, in a typical stalker fashion, I went back to your original post another the chip. @denverappraiser said at the time "Most insurance policies do cover this." In relation to recut/replacement of the stone.
You never pursued that route?

 

[ihy138]

I agree with Karl. Exploring consignment through a reputable dealer in vintage jewelry is your best bet. On your own you are not likely to get your money out of re-cutting/certification, and you take on all the hassles. But depending on the particulars, a trusted broker may advise doing that and can help you with that.
Many buyers of vintage diamonds and jewelry do not mind issues like chips, carbon spots, low color. If issues are relatively minor, and if the stone is showy and pretty, it will find a home.

Thanks so much for your suggestions. I personally did not mind about the low color or the carbon spot, which is exactly why I bought the diamond to begin with. I figured a chip would be a deal breaker for most but it might be an easy fix with the help of a broker. The stone is a lovely one, and I have been going back and forth on parting with it especially for peanuts. But thank you again! A lot to consider.

A chipped I1/K/Euro is not an easy thing to sell and it probably isn’t going to bring the price you’re hoping for. That said, start with a competent appraiser. You need more information. Way too much is being guessed at.

Thank you so much, denverappraiser! I will look into this ASAP in addition to contacting some vintage stone brokers.

Ok, in a typical stalker fashion, I went back to your original post another the chip. @denverappraiser said at the time "Most insurance policies do cover this." In relation to recut/replacement of the stone.
You never pursued that route?

I don't think they can call it stalking if it's out there on the internet, right?! Anyway, the diamond was not insured when I chipped it. I was planning to have it put in another setting and let the insurance lapse because I was going to get it re-appraised once it was re-set. I'm kicking myself for it still. :roll

 

[Karl_K]

I am a fan of independent appraisers but if engaging one ask them about recent experience in old cuts.
The market is vastly different than it was even 2-3 years ago for old cuts/rings and if they are not up to date the advise can be a little outdated.
A lot of the value rests in desirability and looks beyond the specifications.
For example a loose stone may have more value than the same stone in an ugly ring because it has higher saleability.

edit: im not saying your ring is ugly just the opposite I like it a lot.

 

[ringo865]

Or ... put the stone in a pendant and keep it. Then sell the ring as a semi-mount or put a colored stone in the setting and sellnor keep it. It's very pretty as is. But I wouldn't be sad to have a ring and a necklace

 

[LawmaLlama]

You might try reaching out to JBG and LAD to see if they will consign it for you.

 

[ihy138]

I am a fan of independent appraisers but if engaging one ask them about recent experience in old cuts.
The market is vastly different than it was even 2-3 years ago for old cuts/rings and if they are not up to date the advise can be a little outdated.
A lot of the value rests in desirability and looks beyond the specifications.
For example a loose stone may have more value than the same stone in an ugly ring because it has higher saleability.

edit: im not saying your ring is ugly just the opposite I like it a lot.

Thank you again for your insight! I agree in that the specs aren't the whole story. Heck, that's why I bought the diamond to begin with! A carbon spot didn't bother me, but I understand that for most it is off-putting. It is a pretty stone nonetheless and maybe selling it loose might be my best bet. Thank you again!

Or ... put the stone in a pendant and keep it. Then sell the ring as a semi-mount or put a colored stone in the setting and sellnor keep it. It's very pretty as is. But I wouldn't be sad to have a ring and a necklace

Thank you, ringo! I have gone back and forth about selling it for a while. Recently I've started looking at houses and every little bit helps, so I'm streamlining my collection. This ring is part of a past life for me and I think it's time to set it free. I have plenty of others to fall back on, so I am very fortunate.

You might try reaching out to JBG and LAD to see if they will consign it for you.

Thanks so much! That's exactly what I'll do.