Selling a used diamond

posted 6 years ago in Rings
Post # 5
Member
8738 posts
Bumble Beekeeper
  • Wedding: September 2011

Unfortunately diamonds have very low resale value. Appraisals are usually done for insurance or replacement value rather than resale.

When she gets it appraised, she should ask what the appraiser’s thoughts on sale value would be.

Does she have the GIA certificate for the stone? That should help with increasing the value a bit. I’d think though she can expect at MOST 75% of appraisal, but probably closer to 50%.

Post # 6
Member
1448 posts
Bumble bee
  • Wedding: October 2013

She could try “I do now I don’t”

http://www.idonowidont.com/home

But I agree that she should have it set in a necklace or something like that.

Post # 7
Member
901 posts
Busy bee

When I sold my engagement ring from my first marriage, I did a lot of research. There wasn’t the market there is online then, so my options were limited to classified ads, pawn shops and jewelry buying events. I ended up selling it at a jewelry and coin buying event at Macy’s. I was offered much more for it there. Still, the ring was appraised at over 5k and I got $1000 for it.

I can understand not wanting it around. That was my feeling.

Post # 8
Member
4951 posts
Honey bee
  • Wedding: July 2012

I’m guessing maybe 50% of the appraised value. And even then, maybe not.

Post # 10
Member
5423 posts
Bee Keeper
  • Wedding: November 2012

She should plug in her specs into blue nile and price it fairly based off that.

Post # 11
Member
494 posts
Helper bee
  • Wedding: August 2014

In my experience after shopping around at used online shops, pawn shops and sites like kijiji and craigslist I’ve noticed that you can get a great price for a used diamnd. I think diamonds are like cars, once they drove off the lot their value drops drastically!  Usually the appraisal comes in at about 40-50% more than what people tend to buy for and then to sell it used you can expect to drop another 50% or so.  So in this example where the stone is appraised at 10k – 40%= 6,000-50%=3,000k.  Appraisal papers will help the sale too. Of course this is a rough estimate. she can also look online and see what others are sellling for a simialr stone. 

Post # 12
Member
14486 posts
Honey Beekeeper
  • Wedding: June 2011

Since appraised value easily doubles what you can even realistically purchase it for, I’d say even 25% of appraised value may be decent.  I agree with MASPA, plug the stats in to a reputable site like blue nile, then discount that 10-30%.

Post # 14
Member
3585 posts
Sugar bee
  • Wedding: January 2000

Not even half of the “appraised”  (i.e. inflated) price is what I’d want, and would perhaps get, only if it is a popular shape and setting.

There was a simple princess cut going on our local craigslist a few weeks ago, somewhere around half ct and in a white gold setting. I’m thinking it was a couple hundred bucks. Now, that is a popular style and that guy will probalby sell it. The big marquis stones in gold setting from 20 years ago–nope. And that’s what I see on craigslist a lot, item from that era, not old enough to be cool and vintage, not new enough to be fashionable.

People are not at all realistic about how much their stuff is worth especially diamonds. The jewelry industry props up those unrealistic expectations by issueing fake “appraisals.”

This is my opinion only, from casual observation of life, I’m not in the jewelry industry.

 

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