Where to sell Diamond or Diamond with ring?

[Grizzard]

Sorry to be a newb. I am a member on alot of internet forums and I know people get aggrivated with this kind of question, but I just had a baby and me and my wife are trying to get this ring sold to buy a new car and selling a diamond seems like one of those things that is kinda hard to do and I figure you guys are the best people to ask these questions too. My wife bought the ring 5 years or so ago as a engagement ring for her and her ex. She payed right around 20k for it and now we have no use for it. It is a Princess cut Grade D Clarity SL set in 18k White gold the main stone is 3.01 carat and the setting stones are .46 carats. I went to a jeweler that my family does business with and he wouldn't buy it, but said he would trade it in at 16k. Well we don't need more jewelry, we need a new vehicle. I will post a pic of it later today when my wife sends me a picture. What is it worth and where can I sell it? Am I better removing the diamond from the setting and selling it alone? I have read 3 carat stones are rare and most people would want to have a ring built for it anyway?

 

[diamondseeker2006]

I think your first step needs to be sending the ring to a reliable independent appraiser to get a realistic value on it. They can tell you retail replacement value and that you can expect to get some percentage of that...maybe half or possibly more if it is an exceptional stone. It will help if the center diamond has GIA or AGS grading. The appraiser can advise you and possibly assist in your sale by holding the ring for you and sending it to the buyer once payment is completed. Two off the top of my head that would be good would be Neil Beatty or David Atlas. Both should be listed here under Resources/Appraisers.

Some people list on Loupetroop.com or diamondbistro.com, but that doesn't work for high priced items if you are a newbie and don't use someone else known and trustworthy to help you sell it. Good Old Gold, Love Affair Diamonds, and Jewels by Grace are all respected jewelers that offer consignment services. Those really would be your best bet, but I think the ring won't sell without GIA grading or a very reputable independent appraisal.

 

[Grizzard]

It's GIA rated

 

[VRBeauty]

Does it have a GIA certificate, or was it assessed by a local GIA-trained jeweler? A GIA certificate would include a GIA-assigned number.

You can also try PS's "sell your diamond" service: https://www.pricescope.com/sell-your-diamond If the stone is GIA certified, include the certificate number in the comments box.

Be aware that the offers you get will probably be well below your local jeweler's retail estimate, since a jeweler who buys your diamond or ring outright is giving you money and taking a chance that he or she will have your diamond sitting around in inventory for a long time. You might be able to get more for the stone by consigning it, but you the tradeoff is that you don't now how long it will take before the stone sells and you get your money.

One other option is to essentially consign it yourself via ididnowidont.com. You'd have to research the site yourself though - I don't know of any PS'ers who have used the site and come back to report on their experience. The consigners diamondseeker2006 mentioned are well known to PSers.

 

[boerumbiddy]

FYI, the resale sight is actually idonowidont.com
Have not used it, nor do I know anyone who has.

 

[Grizzard]

All her paperwork for the ring are at her parents house in another state so we will have to tell them to find it for us knowing how important it is. Maybe we will try posting it here first to see if there is any interest. I have have been thinking of taking it to Sante Fe to see if one of the higher end jewelers their would buy it, but I have no clue on its value. I have done some research on the internet only to find a stone that size can be worth anywhere from 8k up to 200k which is all over the place and makes it hard to know if somebody made on offer if it would be reasonable or not. Like I said she paid right around 20k for it so I would think it would be worth around that unless the price of gem's has gone up? I should pull the stone and set it in an single earing for some up and coming raper with some extra cash LOL.

 

[Rockdiamond]

Grizzard- based on the price paid five years ago we can be fairly sure that the diamond does not have a GIA report calling it D color.
More likely if it has a report, it was an EGL report.

Unfortunately, that means the grading is almost certainly not correct.
I'd also advise that expecting to get back what you paid 5 years ago in a retail store is not realistic to what you can expect to be offered by a store.

I'd suggest taking it to a few jewelers, or jewelry buyers locally, and see what they offer.
Then come back and maybe we can offer the best course of action.

Personally I don't feel any sort of appraisal is all that helpful in selling- a GIA report is what sellers of 3ct diamonds need

 

[yasssss]

i am not in the market for a new stone or anything , but do you have better photos? something about those photos makes the stone seem a bit off. also, what are the GIA clarity and color specs?

 

[denverappraiser]

What an appraisal will be useful for is providing good, educated and independent council. That's exactly what you're looking for, right? A random polling of unknown and anonymous strangers who haven't even seen the piece is, in my opinion, of limited value. A polling of jewelers who would like to bid to buy it MAY be of some use but it still doesn't really ask the questions.

Get it appraised. There is a list of appraisers at the top of the page under the resources tab. You are operating at a serious disadvantage at this point.

An appraisal is not usually a very good sales tool. You are doing this for your benefit, not the buyers.

 

[denverappraiser]

Vrbeauty. I've had quite a few customers consign things to IDNID. I've seen things be listed there as recently as last week. It's a mixed bag. Sometimes things sell but usually the reason customers want to advertise with them is because it's easy and because they can ask whatever price they want. That's fine, but asking for the moon is not the same as getting it. Listings are free so it doesn't hurt to try but odds go way up if you start with a well considered price.

My only real criticism of them is about their buyer protection terms and conditions. I can't in good conscience recommend much of anyone shop there because the 'guarantee' is so bad for the buyers. The seller side is just fine but again, good seller terms only come into play if they actually get a buyer.

 

[Travelgal]

Have you given the ring a good clean lately? I sold my ring on idonowidont and had 3 offers within 30 minutes. I got 90% of what I paid for it 5 years earlier. The seller flipped it and listed it on Jamesallen for $2k more than I paid for it and sold it within 2 days. Alternatively my friend listed her ring on the same site a month ago and only got one low-ball offer. I'd find the GIA or other certification paperwork, clean the ring, take good pictures of it and list it on idnid or diamondbistro.

 

[Grizzard]

Im not 100 percent sure on the date she bought it ill ask her, but when we started thinking about selling it her sister went up to her room and read off a card she got with the ring. It was a GIA color D clarity SL probably 1 and 3.01 carats the ring hasnt been cleaned since ive been with her so its probabaly dirty and those are Iphone pics so not the best. Ill have her tell her mom to get the card and send it to us and get the thing cleaned and get better pics with my Nikon.

 

[danielxlin]

Hasn't been cleaned in 5 years? No wonder the pics look terrible. Any jewelry store could clean it for free. Or just put it in some warm water and a few drops of dish soap and agitate. Maybe a gentle scrub with a toothbrush?

If it's actually GIA certified 3 carat D/SI1 then you've might have a new Toyota Camry in your hands.

The stone will be sold best on its own. The setting is out of style.

 

[Grizzard]

When she found out her fiance was leaving her for another woman the ring went into hiding LOL. I figured the stone was worth more without the ring, she probably got a good deal on it because its ugly. I really appriciate your guy's help with this I was kinda lost on what to do with it. Also she told me she bought it in October 2011.

 

[canuk-gal]

Im not 100 percent sure on the date she bought it ill ask her, but when we started thinking about selling it her sister went up to her room and read off a card she got with the ring. It was a GIA color D clarity SL probably 1 and 3.01 carats the ring hasnt been cleaned since ive been with her so its probabaly dirty and those are Iphone pics so not the best. Ill have her tell her mom to get the card and send it to us and get the thing cleaned and get better pics with my Nikon.

I didn't know GIA issued gem ID cards, however, EGL does.

cheers--Sharon

 

[Grizzard]

I don't have the info in front of me. I don't know what it really is. Maybe its not a card. All I know is her sister read the information off whatever it is that came with the ring and it said GIA on whatever it is. I will know more once her mom finds the stuff and sends it to us.

 

[junebug17]

The stone will be sold best on its own. The setting is out of style.

I disagree with the bolded. Split shanks are not out of style IMO. I often see them on PS. It might not be to someone's taste, but it is not a dated or ugly look.

 

[danielxlin]

The stone will be sold best on its own. The setting is out of style.

I disagree with the bolded. Split shanks are not out of style IMO. I often see them on PS. It might not be to someone's taste, but it is not a dated or ugly look.

Split shanks are lovely. But OP's setting is not lovely, in my humble opinion. Not sure what the problem is but the whole diamond/setting combo looks dated.

 

[VRBeauty]

The stone will be sold best on its own. The setting is out of style.

I disagree with the bolded. Split shanks are not out of style IMO. I often see them on PS. It might not be to someone's taste, but it is not a dated or ugly look.

This is a very simple setting that doesn't really obscure or detract from the diamond. Selling the stone without the setting might discourage some direct-to-consumers sales, since some people have not idea how to get a stone set or no way to imagine it in a different setting. Selling the diamond in its setting on the other hand has little downside, since people who know a bit about diamonds or jewelry know that it costs very little to remove a diamond from its setting. Like a lot of us, they'll "see" just the diamond and not give the setting a second thought.

 

[denverappraiser]

It's GIA rated

At sales time, this is going to be your key advertisement. I suspect you're wrong, for reasons described above, but it's not too late. I still think an appraisal would benefit you but if you're going to try and get the premium for 'D' color, you NEED that document. If you don't have it, it's still possible to get it. That means submitting it, unmounted, to one of the GIA labs. Your appraiser can help with this but GIA will work with anyone who will pay them. Instructions are at www.gia.edu..

The problem is that, even if it's correct, your buyers will assume it's not if you show an off-brand report. A stone papered EGLI-D/SI1 will sell at a discount when compared to similar GIA-D/SI1s. A big discount, and it will hit you even if the grading is correct. That's the curse of EGL on resale. If it's wrong, you're doing the same thing that people complain that unscrupulous dealers are doing, and if it's right you're shooting yourself in the wallet. If your document says it's 'approximately' 3.01 carats and you sell it mounted, buyers will assume it's under 3.0. It makes a big difference.