Shane Co Buy Back or Sell on LT

[nowicanseethemoon]

My SO has finally agreed to let me try to sell his ex-wife's engagement ring. He's held off for 4 years because he doesn't know anything about selling a diamond and he's terrified he's going to take a bath on it. We talked about his bottom line and I tried to manage his expectations. It seems like he's ready to go for it (thank goodness). He purchased the diamond and semi-mount from Shane Co. in 2004. He has the receipt and a Certified Appraisal, but the stone apparently isn't graded by GIA/EGL etc. It appears as though Shane graded it and there's no information on the cut, just the size, color, and clarity. I contacted Shane to see if there was any additional information on the stones (the serial numbers are on the appraisal), and of course, there isn't. The woman did tell me that Shane has a new buy back option. Has anyone used this? What do you think the best route would be? I'm afraid that an ungraded stone isn't going to sell well on the second hand market (even though it's a very pretty, eye clean stone in a classic setting), but I'm also skeptical that Shane will pay anywhere close to what he paid. Any advice you all have would be greatly appreciated.

 

[hguy4x]

http://www.shaneco.com/About/UpgradeTradeIn.htmx

That's Shane Co's buy back program. It's pretty good. I would go in and see if they have anything you like. You can also negotiate on their prices as their prices are somewhat inflated.

 

[nowicanseethemoon]

But it's not their trade in program. She told me they would buy it back outright - for cash. And that it was a new program they just implemented.

 

[baby monster]

Try to get a value from several sources. There is the PS "sell your diamond" under resources. Take it to an independent appraiser to get reasonable range for resale. I agree that an uncerted stone would be difficult to sell on LT. Is the stone worth sending to GIA to get certified?

 

[nowicanseethemoon]

Try to get a value from several sources. There is the PS "sell your diamond" under resources. Take it to an independent appraiser to get reasonable range for resale. I agree that an uncerted stone would be difficult to sell on LT. Is the stone worth sending to GIA to get certified?

I don't think so. It's a .91 ct. F SI2 that appears to my very close inspection to be absolutely eye clean. The ring is a platinum semi-mount with .52tcw. It is a very nice 3 stone platinum ring, but I don't know that it's worth sending to GIA.

Here's a picture of it - for reference.

 

[ForteKitty]

Find out exactly what they are willing to give you for the buy back, then go from there.

 

[baby monster]

Try to get a value from several sources. There is the PS "sell your diamond" under resources. Take it to an independent appraiser to get reasonable range for resale. I agree that an uncerted stone would be difficult to sell on LT. Is the stone worth sending to GIA to get certified?

I don't think so. It's a .91 ct. F SI2 that appears to my very close inspection to be absolutely eye clean. The ring is a platinum semi-mount with .52tcw. It is a very nice 3 stone platinum ring, but I don't know that it's worth sending to GIA.

Here's a picture of it - for reference.

Very pretty ring. Without the cert, it's unknown quality though.

Just fyi, I tried to sell back diamond jewelry to same B&M store it was purchased from. Slightly less than 50% was the best offer.

 

[nowicanseethemoon]

I was expecting something like that. I guess when I go to Denver to go to the Shane store, I can always drop it off for an appraisal if the offer from Shane isn't enough. Thanks for the advice.

 

[AprilBaby]

It's a really pretty ring. I would try selling it on preloved or LT. There are always people who don't mind uncerted stones. I don't suppose you want to make something for yourself from it? It wouldn't bother me if it was from an ex wife. I would reset it into something I would use.

 

[justginger]

With the way retail diamond prices have increased since 04, even if you take a 'hit' on LT, I'd think you'd still get more than 50% of what he paid in 04. The market has risen CONSIDERABLY and what is a fair price for a secondhand uncerted ring should be more than 50% of his purchase price. Shane would be laughing all the way to the bank with that buy back, turning around and making a 300% profit on it after giving it a polish!

 

[madelise]

Keep it and make it into a pretty pendant!

 

[BlingObsession]

+ 1

 

[movie zombie]

Keep it and make it into a pretty pendant!

agree.

 

[NKOTB]

If you end up keeping or selling just the diamond (I concur with pendant suggestion), you might want to list the setting on LT (for those of us that might be interested).

 

[nowicanseethemoon]

Thank you all. I asked him if he wanted to have a pendant or earrings made for his mom or something and he really doesn't! I have a pendant and earrings from my old wedding set and I love them, but to each his own. I have a friend locally who is a GG and used to own a jewelry store. He appraised my ring for me and I bet I can get him to do the same for this ring. That would give us an idea of fair market value on it. I can always take it Shane down the road if it doesn't sell.

 

[movie zombie]

pendant for daughter or future daughter or future DIL?
resale on diamonds just doesn't bring in much cash.