Have you tried to sell a diamond? The resale value sucks! Rant…

posted 3 years ago in Rings
  • poll: Is this ring really only worth $500 to a jeweler or pawn shop?
    No, they're trying to rip you off. : (12 votes)
    12 %
    Yes, they could only get $1,500 for it or less (like the jeweler said). : (11 votes)
    11 %
    Yes, SI diamonds have bad resale value. : (7 votes)
    7 %
    Generally diamonds have bad resale value. : (71 votes)
    70 %
  • Post # 5
    Member
    1441 posts
    Bumble bee
    • Wedding: September 2014

    @IheartUFC:  It’s not your diamond, it’s that basically no diamond is worth much for resale to a dealer.  I’ve resold rings that could be “estate jewelry” and got about half of what I initially paid for them, and that’s with a GIA certification and the original box from the fancy jeweler where it was purchased.  Diamond resale just blows.

    Post # 6
    Member
    3280 posts
    Sugar bee
    • Wedding: June 2014

    I bought my ring “used” from Kay. It is still being sold on their website for over $4K but since it was technically used I was able to buy it for under $1,200. It is 1.5 tcw. I think it’s just diamonds in general don’t resale well for some reason. 

    Post # 8
    Member
    1441 posts
    Bumble bee
    • Wedding: September 2014

    @IheartUFC:  They will melt down the setting for the metal, so that’s worth whatever an ounce of gold is worth… not much.  Diamond gets sold separately (not sure to whom, some broker, who also takes a cut, which is why they are paying you so little for it).  You’re thinking of this like they are reselling the whole ring and likely they will not be.

    Post # 9
    Member
    6866 posts
    Busy Beekeeper
    • Wedding: March 2014 - A castle!

    It’s my understanding that pawn shops pay the value of the jewelry’s weight in gold. I had a diamond ring I tried to resell and they offered me $5!! One of the many reasons I got a moissanite instead of a diamond for my e-ring.

    Post # 10
    Member
    5483 posts
    Bee Keeper
    • Wedding: October 2013

    @MrsN14:  damn what a deal!!! What!!?

    Post # 11
    Member
    5483 posts
    Bee Keeper
    • Wedding: October 2013

    @IheartUFC:  blah that sucks. Maybe list it here or on eBay or etsy or idonowidont?

    Post # 12
    Member
    6866 posts
    Busy Beekeeper
    • Wedding: March 2014 - A castle!

    @wrkbrk:  My thoughts too! I forgot to say, OP idonowidont.com or diamondbistro.com are probably your best bets.

    Post # 13
    Member
    11379 posts
    Sugar Beekeeper
    • Wedding: April 2012

    @IheartUFC:  have you considered selling it privately instead?  pawn shops are businesses and will only offer a fraction of what they will sell it for; they need to make money. 

    you will make way more if you sold that ring privately.  do you have an appraisal for it?  it would be a good investment to do so if you don’t.  an appraisal will help sell the piece.

    Post # 14
    Member
    1177 posts
    Bumble bee

    Boy that is very disappointing. Sorry to hear that for you and the many of us bees who thought our decent stones and settings should be worth more. Try to sell the ring privately on diamond bistro perhaps as a whole? Good luck. 

    Post # 16
    Member
    537 posts
    Busy bee
    • Wedding: June 2014

    Is it GIA certified? Or does it have any certification? And I definitely second other posters saying to try to sell it on diamondbistro.com

    ETA – And I don’t think there’s really a problem with the SI1, so long as it has a GIA cert and is eye clean.

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