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

posted 8 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.

    Yes, they could only get $1,500 for it or less (like the jeweler said).

    Yes, SI diamonds have bad resale value.

    Generally diamonds have bad resale value.

  • Post # 47
    Member
    686 posts
    Busy bee
    • Wedding: August 2014

    If you had some time on your hands, another option would be to send the unset stone to GIA for grading. That costs somewhere around $200 I think, but a GIA certified diamond is typically going to be easier to sell than one with a “no-name” appraisal. However, you do run the risk of finding out that your diamond is actually lower in specs than you initially thought, and it would be a shame to spend time and money on a report that you wouldn’t end up using. 

    And I definitely recommend selling on diamondbistro or idonowidont instead of accepting the pawn shop’s price! It’s a good size, and a lot of people would be thrilled to be able to offer an “over 1ct” stone at a fraction of the price they’d pay elsewhere (a huge portion of people have never heard of the 4 Cs, nor are they interested in learning before they buy).

    Post # 48
    Member
    1560 posts
    Bumble bee

    View original reply
    @IheartUFC:  I love my moissy. It out performs my natural in every way. I will stick with them and not contribute to the fraud of diamonds’ investment value any longer. 

    Post # 49
    Member
    302 posts
    Helper bee
    • Wedding: April 2017

    WOW. That is a huge rip off. I do not understand how a “used” diamond is any less better than a “new” one other than the fact that it has been on someones finger. To my knowledge, they don’t freaking change any and it is pretty hard to damage one. Jeez. 

    Post # 50
    Member
    1276 posts
    Bumble bee
    • Wedding: July 2002

    I would try to sell the diamond loose on ebay. There is no way the diamond is only worth $500 if it is untreated.  Most jewelery stores will take a full value trade in for an upgrade purchase, If that’s something you may be interested in.  When I upgraded in 2008, I traded in my ering for full purchase price at a store it wasn’t even purchased at.  That’s an amazing deal, if you ask me.  Personally, I feel a diamond is a great investment, since I can wear it for any number of years and then get 100% of what I paid toward another diamond…so unlike the used car analogy someone mentioned.

    I think you will be able to sell it.  Like a PP mentioned, people don’t like to buy used rings because of superstitious reasons.  A loose stone would sell.  I would buy if I could, lol.  That would make an awesome pendant! :). Best of luck!! 

    Post # 50
    Member
    12 posts
    Newbee

    diamonds have no resale value anywhere globally. it’s only GOLD that matters. you must remember, the global currency is based on gold and not diamonds. diamonds are mainly bought for its glitter and something you can keep. the only way a diamond will resell high if these are diamonds owned by kings/queens or some celebrity with a big name… because it’s not the diamond you are buying but the legendary owners of it… and most often, these people have the highest quality of diamonds and the rare ones with bigger/chunkier cuts. 

    Post # 51
    Member
    3097 posts
    Sugar bee
    • Wedding: November 2017

     Yes! If you think resale on a diamond is poor, think about how low resale is for a diamond simulant like moissanite or cz!

     

     

    Post # 52
    Member
    3 posts
    Wannabee
    • Wedding: May 2016

    [moderated for self-promo]

    Post # 54
    Member
    343 posts
    Helper bee

    Speaking from experience, you will never get even 50% of what you paid for the ring. I’ve had 2 Tiffany rings that I sold to a pawn shop and I was told the only reason why I even got 1/3 of what we paid was because of the Tiffany name and the certificate we had with it. The first was a 0.18ct that cost 1250 but we ended up getting 350 for it. The other was a 0.89ct I VVS2 that cost just under 10k that I was only able to get about 4k for. (DH had brain surgery and we were left with 60k in medical bills so I sold my ring in an effort to help pay them down…3 appeals and a year later, the insurance company finally paid them). 

    We ended up buying a 0.89ct Tiffany from Tradesy with better specs than my previous for around 5k after all was settled. I would recommend trying to sell on Tradesy or idonowidont.com or something similar – it benefits you because you can get more than you would have at the pawn shop, and it benefits the buyer because they don’t have to pay full price. 

    Post # 54
    Member
    343 posts
    Helper bee

    So I just saw this post was 3 years old and although I commented, I can’t see where it went to edit it. Wish I had seen the age of the post before I commented the first time…sorry!!!!!

    The topic ‘Have you tried to sell a diamond? The resale value sucks! Rant…’ is closed to new replies.

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