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help with diamond resell - is it possible?

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Jewlsplus2

Rough_Rock
Joined
Mar 7, 2006
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Hi! I''m new here - it looks like you all have a lot of knowledge of diamonds and I''m trying to find out how to proceed. Can anyone help?

My parents died a couple years ago - and my mom left a diamond anniversary band that my sister has possession of. It''s a platinum ring with 3 diamonds that total 1.8 carats. My mom had an appraisal done sometime in 2003 and it was worth $11,000. We can''t divide or share this ring - so we are looking into selling it. However, my sister now tells me the bigger middle diamond is chipped. The chip is not visible to the naked eye but she can feel it.

My questions are:
1. Is it possible for the diamond to be chipped? I thought diamonds were very hard to chip.
2. How does one go about selling an existing ring? Would I need a current appraisal first and then go to a jeweler to see if they''ll buy it? Should we try to sell to a jeweler on consignment?
3. What are the odds of getting any kind of value out of this ring?

Any guidance would be greatly appreciated!
Jules
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Sounds like a blunder. However here at LIW we don''t have the answers for you. You should repost in Rocky Talky, they will have your answers and be lots of help! Good luck.
 
Oops - yep I just figured out that I clicked on the wrong forum - sorry for the newbie blunder!!!!
 
No a diamond cannot get chipped. It is the hardest substance on the planet. It sounds to me like she is trying to refrain you from selling it. Here is my advice, get a new appraisal. THen put the ring in a safe deposit box. Then if you ever have children the eldest and first born would get the ring. If you have a problem with the setting each take one diamond and have them put into necklaces. Each wear one, the largest stone should be put somewhere for safe keeping. like I said before, there will always be people in the family like future sons or daughters that could use it one day. It all depends on how your family is. it is hard to see something that valuable and sentimental get ruined over something like this.
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I thought diamonds could get chipped? I think I read something about that in the SMTR forum?...

Sorry about your loss jewls, hopefully all you guys can work something out!

M~
 
Date: 3/7/2006 9:59:02 PM
Author: ~*Alexis*~
No a diamond cannot get chipped. It is the hardest substance on the planet. It sounds to me like she is trying to refrain you from selling it. Here is my advice, get a new appraisal. THen put the ring in a safe deposit box. Then if you ever have children the eldest and first born would get the ring. If you have a problem with the setting each take one diamond and have them put into necklaces. Each wear one, the largest stone should be put somewhere for safe keeping. like I said before, there will always be people in the family like future sons or daughters that could use it one day. It all depends on how your family is. it is hard to see something that valuable and sentimental get ruined over something like this.
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Actually a diamond CAN get chipped and often does especially tiny chips around an exposed girdle (aka in a 4 prong setting) over time. Diamonds can also cleave in two or three pieces etc. There have been multiple gals on here who have chipped their diamonds, one girl took a huge chunk out and had to get a whole new one (after insurance took care of it).

Diamonds are very hard but it does not mean they are remotely invincible. If you took a good knock on a hard surface at the right angle, you could really do some damage. But even daily worn diamonds over time may show some wear and tear.

Diamonds are also hard to resell....I would suggest you keep it as well as you would not get even remotely close to what it's worth...someone would just get a really good bargain....you could try consignment if you have the time to wait for it to sell, that would probably be a great way to recoup a fair amount of value (aka maybe 65%)...there are numerous threads on resale on here...do a search. But if you can keep it or do something else with it that would be my vote!
 
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