Best way to sell diamonds?

[Ionic]

Hi!

I am new on the forum and have question. I have three diamond rings that i would like to sell, they were left to me by my late great grandmother. I am currently in the process of expanding my business and need to have some more money to invest. The pieces are stunning, the best one is a 1.8 ct vvs2 emerald cut diamond, with an f color (the other two are 1. ct g color vs1 and a 2.25 ct that i don''t have much more info about.).

My question is what would be the best way to sell my diamonds, I don''t want to get taken advantage by. What rapp percentage should I expect to receive?

Any help would be greatly appreciated.

Jose.

 

[verticalhorizon]

I think the best way, and you can search the site for threads on it, is to do it by consignment. Too many people are either wary of buying from eBay when it comes to diamonds, or expect a price waaay below value to be worth it. You'll probably never get what you want (or even unload it at all) if you try to sell it back to someone in the industry.

I'm sure other more knowledgeable ps.com'ers will have better insight.

 

[MichelleCarmen]

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On 4/16/2004 1:23:41 AM Ionic wrote:

Hi!

I am new on the forum and have question. I have three diamond rings that i would like to sell, they were left to me by my late great grandmother. I am currently in the process of expanding my business and need to have some more money to invest. The pieces are stunning, the best one is a 1.8 ct vvs2 emerald cut diamond, with an f color (the other two are 1. ct g color vs1 and a 2.25 ct that i don't have much more info about.).

My question is what would be the best way to sell my diamonds, I don't want to get taken advantage by. What rapp percentage should I expect to receive?

Any help would be greatly appreciated.

Jose.----------------

Yep as mentioned, you're NOT going to get even close to the retail or Rap value of your jewelery pieces. Your first option, and probably you're best, is trying to sell through the paper. This way you're not paying any fees aside from the paper's small fee and so if the pieces don't sell, you're only out a few bucks and if they do sell, you get the more money than the other selling options where you pay more fees. Consignment is a good choice as is eBay, but with both you pay tons of fees, and w/consigment they take a heafty chunck of the money (one place I called takes 1/3 of the $) so I'd try these AFTER you attempt the paper (and list in a MAJOR city paper where more people will see the listing). If you choose eBay, I would recommend requiring the purchaser to pay with money order/cashier's check rather than Pay Pal as with PP you have to give a portion of your profits to them and the less fees you pay, the better!

Good luck,
Michelle

 

[Bridget]

IMO if you do pay pal people will probably feel more comfortable buying from you. I for one would never give cash to an individual for a hefty purchase such as yours. You do not pay a portion of your profits to pay pal, you pay a percentage to cover the cost of the transaction. Pay pal has no idea what your margin (profit) is, makes sense?

The paper is an excellent source. Cheap too! If someone is serious about buying it,and they want an appraisal, you and that person go to an appraiser together and drop the ring off, under your name, at your cost, to the appraiser of their choice. Makes it more "legit". Since you inherited the rings, you are not out of any money at all, it's a total gain. Discount them enough to sell them, and enough for you to be happy with the return!

Good luck!

 

[MichelleCarmen]

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On 4/16/2004 1:43:09 PM Bridget wrote:

IMO if you do pay pal people will probably feel more comfortable buying from you. I for one would never give cash to an individual for a hefty purchase such as yours. You do not pay a portion of your profits to pay pal, you pay a percentage to cover the cost of the transaction. Pay pal has no idea what your margin (profit) is, makes sense?


Good luck!----------------

Yeah, you're right. Pay Pal JUST charges transaction fees of 2.2% for merchants and 2.9% for standard accounts, which still ads up to hundreds of dollars for items such as the OP mentioned, PLUS, you'll be paying eBay fees as well which are going to add up to additional hundreds of more dollars. Could easily cost this person over 1K in profit. Kind of lame. . .but, I guess people wouldn't want to send cash either.

Michelle

 

[Bridget]

You don't have to sell on eBay to accept Pay Pal as payment. So she doesn't have to do ebay and pay ebay fees. By the way, of that 2.2 and 2.9% you mention Pay Pal charges, 1.95% of that goes to the bank, not to Pay Pal. So in essence, they DON'T make all that on anyone's profit

 

[MichelleCarmen]

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On 4/16/2004 2:50:48 PM Bridget wrote:

You don't have to sell on eBay to accept Pay Pal as payment. So she doesn't have to do ebay and pay ebay fees. By the way, of that 2.2 and 2.9% you mention Pay Pal charges, 1.95% of that goes to the bank, not to Pay Pal. So in essence, they DON'T make all that on anyone's profit

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The advice I was giving was SELL on eBay and try and have payment made in an alternative form to PayPal where there are less fees. I'm not sure what your point is in taking a Paypal payment and not selling on eBay as it doesn't even apply to the advice I was providing. Possibly, you should instead focus on providing additional non fee sources of selling of this person's jewelry as I'm sure they'd appreciate your expertise rather than read your picking apart all of my ideas in a nonproductive manner.

And, who cares TECHNICALLY where those few points of profit go. Regardless of these details, the seller loses out on this money regardless of who as middleman benefits from this transaction!

Michelle

 

[Bridget]

Relax already. I wasn't picking apart your ideas. Also, being nonproductive only

matters if you sign my paycheck

 

[MichelleCarmen]

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On 4/16/2004 3:17:25 PM Bridget wrote:

Relax already. I wasn't picking apart your ideas. Also, being nonproductive only

matters if you sign my paycheck ----------------

No, actually my time is valuable to me, so don't waste it!

Please help this person by providing additional sources to sell jewerly where paypal is accepted and there are no additional selling fees as you hinted toward. I'm just curious as I personally can't think of any of the top of my head as I generally just go with eBay for such purchases/sales. Of course, there IS trying to sell on a one of these diamond forums. . .

. But, where were YOU thinking of?

Michelle

 

[valeria101]

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On 4/17/2004 12:58:02 PM Furthermore wrote:

Sounds like a 'pre owned diamond' site which is a limited company selling direct to the public and just taking commission is a good idea.....

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With the motto: "come and get what you paid for on your diamond" on one door and "cheap diamonds" on the other! This would be quite a sight

There must be just about as many diamonds above ground as below by now. A real 'overhang' waiting for the right offer, I suppose.