How much of a loss will we take on diamond?

[sugarpie honeybun]

DH purchased my diamond from Blue Nile and I really love the ring and stone; however, I am sort of wishing the stone was slightly larger (my current ring stats: Ideal-cut, G-color, VS2-clarity, Round 1.74-Carat Diamond) and I’m contemplating upgrading the diamond closer to a 2.75 carat, similar cut, etc. Since BN doesn’t offer upgrades, we’ll likely have to go to a dealer and negotiate a price for my current diamond, but we’re afraid of losing money. Do diamonds usually hold strong value? Typically what percent “loss” is considered average for a diamond? Example - If the ring was purchased 2 years ago for $10,000 (which this wasn't), how much should we be realistically discounting the diamond’s worth?

Hopefully this question makes some sense…

 

[IceExplorer]

Each situation is different but you should brace yourself for being quoted 10-30% of the new purchase price as the value you''ll be offered for your exchange.

Sorry to have to tell you this.

Do a search on the topic (upper right hand corner).

 

[kristie]

I currently have a diamond on Ebay and I have received offers for around $1500 less than we paid for it.....this is not common.

List it on Ebay with VERY good photos, etc. and just see what happens. If you try to trade it at a jeweler for another diamond, you will be taken to the cleaners.

 

[IceExplorer]

Date: 2/18/2010 9:51:18 PM
Author: kristie
I currently have a diamond on Ebay and I have received offers for around $1500 less than we paid for it.....this is not common.


List it on Ebay with VERY good photos, etc. and just see what happens. If you try to trade it at a jeweler for another diamond, you will be taken to the cleaners.

That is AWESOME and really encouraging. It sounds like the internet might bring a little more honesty to the used diamond business.

 

[sugarpie honeybun]

This sounds very positive! I''ll have to spend some time looking into this. In the future, our diamond purchase will definitely be from a dealer that offers upgrades. I wish Blue Nile would jump on the bandwagon. jeesh.

 

[IceExplorer]

Date: 2/18/2010 10:09:51 PM
Author: sugarpie honeybun
This sounds very positive! I''ll have to spend some time looking into this. In the future, our diamond purchase will definitely be from a dealer that offers upgrades. I wish Blue Nile would jump on the bandwagon. jeesh.

You think they would change their business model to compete with the other online vendors. I eliminated them almost immediately for my purchase because of the lack of trade-in policy and equally as important, no images.
The internet seems to be doing great things to equalize the playing field for the consumer and Pricescope.com seems to be leading the way.

 

[Dreamer_D]

On the secondary market diamonds seem to go for about 50% of what you pay, if you are lucky. This is the word I have gathered from other threads like this on PS. But I think the range is more like 30% to 70%.