stevestojan Posted May 5, 2010 Posted May 5, 2010 Ok so first, don't cry for me Argentina, but the wife and I are splitting up. I'm not looking for any sympathy (except from maybe DC Tom), nor am I looking to discuss the details, and finally, no I don't have a "pic" or "link" of her. That said, I need some advice on selling a diamond ring. (yes, I got it back). I know pawn shops are my last resort; but I'd rather go that route than eBay I think. And I'm fairly sure (from the googling I did that jewelry stores will laugh me out of the place). The details on the ring are as follows: Its GIA certified with GIA # 15897596 It is a "squared modified brilliant" cut (otherwise known as princess cut) Measurements of the center diamond are 5.49x5.32x3.74 Carat Weight of center diamond is .91 carat Color is G Clairty is SI2 Finish: Polish: Good Symmetry: Good Fluorescence: None The ring itself is white gold and the diamond setting is platinum It has 4 "diamond melee" on the sides (baguettes I think they're called) totally .40 additional carats (.075, .075, .125 and .125) It was bought and appraised for $5,480. Now, I know that, in this economy, with the ridiculous mark up of jewelry in the first place, I may be lucky to get $2,000 for it (and that's probably a stretch) I just want to know if anyone knows, based on experience or knowledge of diamonds or jewelry, what my best option is in this case.
BuffaloBill Posted May 5, 2010 Posted May 5, 2010 Ok so first, don't cry for me Argentina, but the wife and I are splitting up. I'm not looking for any sympathy (except from maybe DC Tom), nor am I looking to discuss the details, and finally, no I don't have a "pic" or "link" of her. That said, I need some advice on selling a diamond ring. (yes, I got it back). I know pawn shops are my last resort; but I'd rather go that route than eBay I think. And I'm fairly sure (from the googling I did that jewelry stores will laugh me out of the place). The details on the ring are as follows: Its GIA certified with GIA # 15897596 It is a "squared modified brilliant" cut (otherwise known as princess cut) Measurements of the center diamond are 5.49x5.32x3.74 Carat Weight of center diamond is .91 carat Color is G Clairty is SI2 Finish: Polish: Good Symmetry: Good Fluorescence: None The ring itself is white gold and the diamond setting is platinum It has 4 "diamond melee" on the sides (baguettes I think they're called) totally .40 additional carats (.075, .075, .125 and .125) It was bought and appraised for $5,480. Now, I know that, in this economy, with the ridiculous mark up of jewelry in the first place, I may be lucky to get $2,000 for it (and that's probably a stretch) I just want to know if anyone knows, based on experience or knowledge of diamonds or jewelry, what my best option is in this case. Your best bet is a private sale to someone other than a jewler. A jewler or pawn shop or other retailer will want to buy at a price they can get a normal or better mark up. Like all retail the mark up on jewlery is huge.
The Poojer Posted May 5, 2010 Posted May 5, 2010 did you ask for it back? when my ex and i split, i never even bothered with the ring...i just wanted to be over and done with it....not trying to sound critical or anything, but it never occurred to me to get the ring and try and sell it...i actually hope she got something out of it.....kind of acts like points in the bank that way.....
Jim in Anchorage Posted May 5, 2010 Posted May 5, 2010 I am more interested to hear about this understanding between you and DC Tom about your wife.
stevestojan Posted May 5, 2010 Author Posted May 5, 2010 did you ask for it back? when my ex and i split, i never even bothered with the ring...i just wanted to be over and done with it....not trying to sound critical or anything, but it never occurred to me to get the ring and try and sell it...i actually hope she got something out of it.....kind of acts like points in the bank that way..... Again, don't want to discuss the details, but I'll bite: I'd rather give myself a root canal with a rusty spoon dipped in vinegar than have her keep it. Now, please no more moral, karma, etc posts. Just advice. Newspaper?
stevestojan Posted May 5, 2010 Author Posted May 5, 2010 How old is the ring? 3 years. Well, I'm guessing based on how diamonds are formed, muuuch older than that, but that's when it was purchased.
The Poojer Posted May 5, 2010 Posted May 5, 2010 gotcha....really wasnt trying to play any moral cards...just wasn't on the radar of things to do when i went through it....no advice to offer...good luck Again, don't want to discuss the details, but I'll bite: I'd rather give myself a root canal with a rusty spoon dipped in vinegar than have her keep it. Now, please no more moral, karma, etc posts. Just advice. Newspaper?
bills_fan Posted May 5, 2010 Posted May 5, 2010 Did you try the store where you bought it? If it is a reputable store, they may give you a decent price or at least give you store credit for the ring. Hell, they make a great return on it, sell it twice in 3+ years and make you happy by giving you something back for it. Its worth investigating (assuming you did not buy it online or at some junky mall store that is now out of business).
stevestojan Posted May 5, 2010 Author Posted May 5, 2010 gotcha....really wasnt trying to play any moral cards...just wasn't on the radar of things to do when i went through it....no advice to offer...good luck No worries!
stevestojan Posted May 5, 2010 Author Posted May 5, 2010 Did you try the store where you bought it? If it is a reputable store, they may give you a decent price or at least give you store credit for the ring. Hell, they make a great return on it, sell it twice in 3+ years and make you happy by giving you something back for it. Its worth investigating (assuming you did not buy it online or at some junky mall store that is now out of business). Not a bad idea at all. I actually purchased it from a local jeweler in Batavia, been around for decades. I think I'll call and beg for 40% of my investment back.... oh, what a return!
Just Jack Posted May 5, 2010 Posted May 5, 2010 Plus tax?????? Well, it's used so I wasn't going to pay tax, but since you're a fellow Bills fan, okay.
Jim in Anchorage Posted May 5, 2010 Posted May 5, 2010 Well, it's used so I wasn't going to pay tax, but since you're a fellow Bills fan, okay. He makes his money on shiping and handling.
ACor58 Posted May 5, 2010 Posted May 5, 2010 Not a bad idea at all. I actually purchased it from a local jeweler in Batavia, been around for decades. I think I'll call and beg for 40% of my investment back.... oh, what a return! Stoj - I am sorry to hear about your predicament. The good news is that your Diamond is GIA certified, which means that it is legit. Do you still have the diamond report - so long as it matches up to the laser inscription on the diamond you are good to go. That bad news is that he jewler in Batavia stuck it to you. However, with how he marks up his jewlery, he should be more than willing to give you $2500 for the stone and $500 for the setting. Here is what a similar round diamond is going for on Blue Nile. (for any posters looking to get engaged, I bought my wife's ring on Blue Nile and got the highest quality and best price by far). Carat 0.91 Cut Good Pol Good Sym Good Colr G Clar SI2 Price $2,710 (Price per carat) $2,978
Joe Miner Posted May 5, 2010 Posted May 5, 2010 Ok so first, don't cry for me Argentina, but the wife and I are splitting up. I'm not looking for any sympathy (except from maybe DC Tom), nor am I looking to discuss the details, and finally, no I don't have a "pic" or "link" of her. That said, I need some advice on selling a diamond ring. (yes, I got it back). I know pawn shops are my last resort; but I'd rather go that route than eBay I think. And I'm fairly sure (from the googling I did that jewelry stores will laugh me out of the place). The details on the ring are as follows: Its GIA certified with GIA # 15897596 It is a "squared modified brilliant" cut (otherwise known as princess cut) Measurements of the center diamond are 5.49x5.32x3.74 Carat Weight of center diamond is .91 carat Color is G Clairty is SI2 Finish: Polish: Good Symmetry: Good Fluorescence: None The ring itself is white gold and the diamond setting is platinum It has 4 "diamond melee" on the sides (baguettes I think they're called) totally .40 additional carats (.075, .075, .125 and .125) It was bought and appraised for $5,480. Now, I know that, in this economy, with the ridiculous mark up of jewelry in the first place, I may be lucky to get $2,000 for it (and that's probably a stretch) I just want to know if anyone knows, based on experience or knowledge of diamonds or jewelry, what my best option is in this case. Don't sell it too short. Find out about the gold band. What carat weight is it? Prices of gold have likely skyrocketed since you bought it enough to help you out some. You think there's not a lot of gold there, and you'd be right, but believe me, gold prices will make a difference in the ring's value. You can also take it to an appraiser. I did that for the wife when I bought an insurance policy on her ring. It's a fairly cheap and painless thing to do. Make sure you keep a copy of the appraisal, that way you have a record when someone buys it. I'd also tell the appraiser you're getting it for an insurance policy. That way he doesn't try to screw you thinking he can buy it from you with a cheap appraisal.
KD in CA Posted May 5, 2010 Posted May 5, 2010 The problem is finding someone to buy it that isn't interested in reselling it and hence requiring a big discount from market to make it worth their while. And you also don't want to spend a lot of money trying to move it, so I would suggest the following: --Craigslist ad; it's cheap and maybe you find some dude who is trying to get his fiancée a ring on the cheap. You could also try ebay, but then you have to pick a minimum value and risk either no bids or settling for the minimum. No one is getting into a bidding war on a used diamond. If you don't get any interest, than go to a couple jewelers/pawn shops and see who offers the most and just take it. It sounds like this is more about the emotions for you anyway, so I wouldn't get too hung up on comparing what you get for it to what you paid for it. IMO you'll be lucky to get back 50%. You should look at the other 50% as part of the fee for getting your life back -- money well spent.
Fezmid Posted May 5, 2010 Posted May 5, 2010 Stoj - I am sorry to hear about your predicament. The good news is that your Diamond is GIA certified, which means that it is legit. Do you still have the diamond report - so long as it matches up to the laser inscription on the diamond you are good to go. That bad news is that he jewler in Batavia stuck it to you. However, with how he marks up his jewlery, he should be more than willing to give you $2500 for the stone and $500 for the setting. Here is what a similar round diamond is going for on Blue Nile. (for any posters looking to get engaged, I bought my wife's ring on Blue Nile and got the highest quality and best price by far). Carat 0.91 Cut Good Pol Good Sym Good Colr G Clar SI2 Price $2,710 (Price per carat) $2,978 Yes, but Steve said he has a princess cut - and fancy cuts generally cost more than round cuts... And I can second Blue Nile -- I bought my wife's ring 9 years ago, when they were still a pretty new company, and they went out of their way to make me happy! I always buy jewelry from them now (albeit much cheaper ). As for the original question -- the price of gold and platinum is much higher now than it was when you bought, so that might help. Not sure where to go to sell though... I would NOT sell it through eBay though -- I made a post about my negative experience trying to sell a scanner through them, and it's REALLY easy for buyers to scam you nowadays.
stevestojan Posted May 5, 2010 Author Posted May 5, 2010 Stoj - I am sorry to hear about your predicament. The good news is that your Diamond is GIA certified, which means that it is legit. Do you still have the diamond report - so long as it matches up to the laser inscription on the diamond you are good to go. That bad news is that he jewler in Batavia stuck it to you. However, with how he marks up his jewlery, he should be more than willing to give you $2500 for the stone and $500 for the setting. Here is what a similar round diamond is going for on Blue Nile. (for any posters looking to get engaged, I bought my wife's ring on Blue Nile and got the highest quality and best price by far). Carat 0.91 Cut Good Pol Good Sym Good Colr G Clar SI2 Price $2,710 (Price per carat) $2,978 Thanks!
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