Where to sell mom's diamond in DC

[bigds]

So my dad asked me to sell my mom's 2.5 carat emerald cut in DC. The stone was cut in the 30's and I believe was certed by GIA at one point, although it was lost.

Now the easy question, where should I look at selling it for him in DC? Circa? Mervis?

Really need some advice here.

 

[MissGotRocks]

Try The Art and Jewelry Exchange of Tyson's in northern Virginia.

 

[antelope1]

Is the diamond set in a setting? Like, the original setting from the 30s? You might be able to sell it as an antique rather than just a loose diamond and get a better price for it that way. Do you have any idea as to the color, clarity, or carat weight? Would you be willing to go to an appraiser and figure those things out before you try to sell? The more information you have going in, the more likely you are to get a good price!

I've seen estate pieces for sale at both Pampillonia (go to the Dupont location, not the Chevy Chase location because Chevy Chase is primarily retail) and Tiny Jewel Box (also on Conneticut near Dupont Circle). They must get the pieces from somewhere...

 

[bigds]

I used to go to the art exchange to buy stuff, but their prices over the years have separated from reality. They just aren't buying and are way more interested in cosign.

In regards to the setting, it is a simple platinum band with two small baguettes next to the center stone, not very impressive.

What is interesting is the cut of the emerald. It is not the standard step that you see today, but has an extra step almost like an asscher in an emerald shape.

I have an appraisal for the size, but don't have the other metrics. I also know appraisals are worthless.

 

[antelope1]

I also know appraisals are worthless.

Whaaa? Differences in color and clarity affect price in a pretty dramatic way, even for the unusual EC that you have. Short of the cert, I think appraisals are the best negotiating tactic you have in trying to get the best price.

 

[MissGotRocks]

In this economy, you might have trouble selling the ring outright - unless you find the right place that thinks they have a reasonable chance of moving it.

Ever thought about having it certified by GIA? It might give you a far better chance of selling it and getting a fair price for it.

 

[denverappraiser]

I also know appraisals are worthless.

Some appraisals are worthless, but not all. The purpose of getting an appraisal is to get information that’s useful to you. If the appraiser doesn’t do that then their report is useless, but it’s far from assumed. The problem is that most of the public, and most people who are writing appraisals, don’t understand the question. ANY statement of value must contain an element of what it’s worth to whom, when and under what circumstances or it’s of no use whatever. In fact their advice may be worth less than zero because it leads you to a conclusion that’s wrong simply by providing the correct answer to the wrong question. The key is in choosing your appraiser. Talk to them first, tell them what you’re trying to accomplish and discuss the issue with them. With a 2.5ct stone of at least decent grade it will almost certainly benefit you to get a GIA report as an advertising tool. This requires pulling the stone out of the mounting and I strongly recommend you have a professional do this. If you’re going to try and sell it to a consumer, it is also usually beneficial to repair any damage that may have happened over the years. Again, I would strongly suggest professional assistance with this. Lastly, you are going to need to decide on your marketing plan. Buying diamonds is easy … selling diamonds is hard. This seems to be what’s throwing you for a loop at the moment. Dealers don’t want to stock big emerald cuts because they aren’t selling very well at the moment. That’s not a disparagement of your stone, it’s just an observation of the current market. They would rather tie up their inventory dollars in something that they can expect to move a little faster. The way to convince them otherwise is either to do a consignment deal (which ties up YOUR inventory dollars), or drop the price. How far you have to drop is a matter of negotiation and this is another area where a competent appraisal can be very helpful. Most people don’t know when to take an offer and when to walk. A similar problem happens with direct retail sale, meaning ebay and craigslist. Some people are a LOT better at this than others and most don’t have a great deal of experience at it. Unbiased professional advice can be very helpful even if you DON’T use the report as an advertisement.

 

[reader]

Have you considered consignment outside of the DC area, or must it be sold rather quickly?