Is there a Venue for Selling Personal Diamonds???

[wallawalla]

So, I spent over 6 months tirelessly searching for the perfect chunky/antique cushion; reading endless posts on specs, looking at every diamond/GIA cert, etc. I contacted almost every Pricescope vendor and worked with a number of them until finally after many months of searching, I had a vendor find that perfect stone at an unbelievable price.

Unfortunately, a month after I bought the stone, but before I picked out a setting, my engagement was broken off. Now, I am left with this amazing chunky cushion. And a need to sell it. However, now, the x day return window has passed and the particular % buy-back policy from this vendor, while appreciated, would result in an $8k loss!?!

I am aware that selling personal stones is forbidden on Pricescope for obvious reasons. But I definitely want this diamond to go to someone who could appreciate the quality of the stone and the value of what they are getting. Or, someone like me, who was searching endlessly for a rare cushion with this brilliance and was coming up short for months. Both of these are something I KNOW a listing on eBay would just NOT accomplish.

I am not even interesting in getting back 100% of what I paid for the diamond - and am more than happy to provide the full documentation from the vendor and all the details of my search, etc. I just can't comprehend taking an $8k loss with nothing to show for it. So, the question is - is there an appopriate venue to sell stones like these to Pricescopers or other enthusiasists who would appreciate the quality and value?

 

[Circe]

So sorry to hear that.

You might try contacting Jewels by Erica Grace: they specialize in old cut stones, and they do consignment.

 

[Porridge]

I am sorry to hear that.

Unfortunately it's near impossible to get back anything close to what you paid. However, it seems like you did your research well and have a great diamond, so I imagine you got a fair price and have a good quality stone with a reputable certificate? So all your hard work is not totally in vain, it will certainly lessen the hit you will take.

I second Circe's recommendation of Jewels by Erica Grace. Consignment is probably your best option at this stage. You could also try your luck on ebay or another shopping site, if you set the minimum price high enough then you have nothing to lose at least. I know many of us here keep an eye out for quality pieces on those sites. There are sites that specialise in dedicated jewelry classifieds. A quick google of that term should lead you to the most popular one - I don't think I'm allowed to link it or name it because it is also a forum.

ETA also try www.oldworlddiamonds.com,, they buy diamonds. I don't know how competetive their prices are, but it's worth asking.

 

[Amys Bling]

So sorry to hear that.

You might try contacting Jewels by Erica Grace: they specialize in old cut stones, and they do consignment.

ditto- selling it on consignment might get you your best return.

 

[oldminer]

A person should never buy a diamond which they will "need" to sell, but it could be that you simply want the diamond gone and out of sight without taking a large percentage loss. If you do "need" to sell it, then you will likely need a rapid exchange for a check and that is not the deal with those who accept consignments. Unless an unbelievably low price is set on the diamond you may wait months or even longer for a sale on a specific diamond. If you want the stone gone and out of sight, then consignment may suit you, but if "need" dictates a sale, then consignment is not going to prove useful. E-Bay and Craigslist often come to mind and the website, IdoNowIDont also comes to mind for a more rapid sale, but the first two choices are just full of fraudsters so be very cautious. When you need to sell and get paid right away then a dealer is the right choice in spite of the large percentage loss.

Please keep in mind how well you researched the purchase first. You will lose less now than you might have done if you had paid more for the diamond. Secondly, just think how much less this will cost than a divorce might have cost you. To put things in a better perspective, you may have gotten off way cheaper with what has taken place than what many alternative situations might have been. Yes, it will sting you, but it is far less than a fatal shot. You can buy a $40,000 car new today and next week it will not be worth close to what was paid for it. Pretty much everything works the same and diamonds run true to this scenario in the short term. In the long run, a car ends up virtually worthless and the diamond will retain a good percentage of value even after decades of daily use.

Just as you acted carefully when you searched for the diamond, take the time now to search for the right solution to sell it in a way that best suits your actual needs or desires.

 

[blueiris]

A person should never buy a diamond which they will "need" to sell, but it could be that you simply want the diamond gone and out of sight without taking a large percentage loss. If you do "need" to sell it, then you will likely need a rapid exchange for a check and that is not the deal with those who accept consignments. Unless an unbelievably low price is set on the diamond you may wait months or even longer for a sale on a specific diamond. If you want the stone gone and out of sight, then consignment may suit you, but if "need" dictates a sale, then consignment is not going to prove useful. E-Bay and Craigslist often come to mind and the website, IdoNowIDont also comes to mind for a more rapid sale, but the first two choices are just full of fraudsters so be very cautious. When you need to sell and get paid right away then a dealer is the right choice in spite of the large percentage loss.

Please keep in mind how well you researched the purchase first. You will lose less now than you might have done if you had paid more for the diamond. Secondly, just think how much less this will cost than a divorce might have cost you. To put things in a better perspective, you may have gotten off way cheaper with what has taken place than what many alternative situations might have been. Yes, it will sting you, but it is far less than a fatal shot. You can buy a $40,000 car new today and next week it will not be worth close to what was paid for it. Pretty much everything works the same and diamonds run true to this scenario in the short term. In the long run, a car ends up virtually worthless and the diamond will retain a good percentage of value even after decades of daily use.

Just as you acted carefully when you searched for the diamond, take the time now to search for the right solution to sell it in a way that best suits your actual needs or desires.

Thank you for this great advice, David!