Forums Latest Auctions Members

Selling a Diamond Ring

  1. dan7800

    dan7800 Jan 14, 2018

    Posts
    812
    Likes
    813
    OT: But does anyone here any any experience with selling jewelry /diamond rings?
    .71K VS2 diamond, so nothing super fancy

    I tried consignment, but didn't sell.

    I was thinking Ebay next, unless anyone else had any recommendations.

    When selling on Ebay, are there any "special" scams/things I need to watch out for?

    I am a bit nervous with selling the diamond on Ebay to only get the "I got an empty box scam" (When in fact I know I had shipped the item)

    Thanks all
     
  2. Canuck

    Canuck Jan 14, 2018

    Posts
    6,956
    Likes
    16,859
    Put it into a setting that you would wear. Retail jewellers who have traditionally been in the business of selling diamonds are having an awful time trying to cope in a market where by far the bulk of diamonds today, are being sold on line. You’ll be competing with every “cold water walk up” (second storey, low rent) sham artist in the business. Have you had it professionally appraised by an accredited jewellery appraiser? That would be a place to start, but bear in mind that it is NOT appraisers that determine market value on pre-owned goods. It’s the guy with cash in hand. Not much help, I know, but I don’t have an answer for you.
     
  3. MikiJ

    MikiJ Likes songs about Purple spices Jan 14, 2018

    Posts
    2,471
    Likes
    2,041
    Go to a reliable pawn shop and ask to look at mountings. Then ask which of the mountings will be best suited if you decide to sell the stone, mounting and all. I'll bet you get an offer. Then it's up o you.
     
  4. Foo2rama

    Foo2rama Keeps his worms in a ball instead of a can. Jan 14, 2018

    Posts
    12,666
    Likes
    17,554
    It’s include the ring size.
     
    watch3s likes this.
  5. dan7800

    dan7800 Jan 14, 2018

    Posts
    812
    Likes
    813
    Sorry, but I forgot to mention that it's an old engagement ring from 10+ years ago ( so the wife understandably doesn't want to keep it around ) and it's mounted.

    Pawn shops have offered less than $500 while I've had ebay offers for about $2000
     
    Edited Jan 14, 2018
  6. michael22

    michael22 Jan 14, 2018

    Posts
    1,600
    Likes
    1,658
    $2000 sounds like a lot for an old ring with that size diamond.
    Pawn shop might offer $500 if he thought he could sell for $900 or $1000.

    If pawn offers $500, I would guess double it for fair market value. Good luck getting it, but ebay sounds like the goods.
     
    watch3s likes this.
  7. Looneytoons

    Looneytoons Jan 14, 2018

    Posts
    285
    Likes
    1,009
    Yeah that sounds about right. Pawn might offer 25% at most of open market value. Sell it yourself on ebay but you might add buyer restrictions such as:

    1. Verified Paypal account and only ship to verified Paypal address.
    2. at least 10 positive feedback on prior transactions
    3. Offer local pick-up for local buyers...face to face in the lobby of your bank is safe place to transact this sale.
    IIRC most of those options are available on the seller menu when listing or in the seller settings area.

    HTH and GLWS
     
    Noddyman, MikiJ and dan7800 like this.
  8. 77deluxe

    77deluxe Jan 15, 2018

    Posts
    2,043
    Likes
    4,407
    There was a pretty good article about selling diamonds in The Atlantic, I think 1982 issue. Worth a read.
     
  9. padders

    padders Jan 15, 2018

    Posts
    5,566
    Likes
    8,085
    Is the KVS2 grading from a reputable body like GIA or similar or is it a jeweller's appraisal?
     
  10. dan7800

    dan7800 Jan 15, 2018

    Posts
    812
    Likes
    813
    It is GIA certified and I have all of the paperwork
     
    MikiJ likes this.
  11. MikiJ

    MikiJ Likes songs about Purple spices Jan 15, 2018

    Posts
    2,471
    Likes
    2,041
    Sorry to say but bad color + inclusions = few dollars :(
     
  12. MikiJ

    MikiJ Likes songs about Purple spices Jan 15, 2018

    Posts
    2,471
    Likes
    2,041
    Add under a carat to my equation.
     
    watch3s likes this.
  13. Davidt

    Davidt Jan 15, 2018

    Posts
    5,757
    Likes
    8,909
    If a pawn shop thinks they can sell it for 1000, there's no way they're offering 500. More like 250-350 max.

    You don't mention the colour, but I'd say even with a cert, 2k on eBay is a good offer. Check buyer feedback as many dealers buy via eBay which would be a safer sale for you (although I can't imagine a dealer is offering that).

    It's a good time of year to be selling as you have people buying after NYE proposals as well as valentines around the corner.
     
    MikiJ and dan7800 like this.
  14. padders

    padders Jan 15, 2018

    Posts
    5,566
    Likes
    8,085
    K isn't the best colour for sure but VS2 clarity means very few inclusions, virtually invisible even under a 10x loupe.
     
  15. dan7800

    dan7800 Jan 15, 2018

    Posts
    812
    Likes
    813
    K isn't the color

    .71K Round Brilliant Engagement Ring VS-2 F, cut good
     
    MikiJ likes this.
  16. MikiJ

    MikiJ Likes songs about Purple spices Jan 15, 2018

    Posts
    2,471
    Likes
    2,041
    Feel a lot better about this diamond now. However any reputable pawn shop will only pay 25% of what they think they can sell it for unless they have a regular customer in line for something similar to this, then maybe 50% for a quick turn-around.
    BTW: This is somewhat popular of the 3Cs :)
     
  17. citizenrich

    citizenrich Metal Mixer! Jan 15, 2018

    Posts
    2,658
    Likes
    5,525
    That diamond will sell for around 4g's per carat.

    So, .71 x 4000 = ~3000 give or take 3/400


    Offer it on eBay for 2800 and you'll sell it.

    Don't forget to factor in the vig for your net price
     
  18. citizenrich

    citizenrich Metal Mixer! Jan 15, 2018

    Posts
    2,658
    Likes
    5,525
    You can videotape yourself packing and shipping the diamond (I would only use Fed Ex next day 10am) signature required and you'll be good to go...
     
  19. Davidt

    Davidt Jan 15, 2018

    Posts
    5,757
    Likes
    8,909
    $2800 sounds very optimistic for a private seller but what have you got to lose by trying?
     
    dan7800 and citizenrich like this.
  20. sjg22

    sjg22 Jan 15, 2018

    Posts
    833
    Likes
    2,665
    Lots of auction houses sell diamonds of this nature, particularly smaller local ones (usually set, but i'm sure they'd be interested in loose) - far more secure than eBay for the seller.