Would you buy a used ring and how much can you typically save?

[slycatty]

It seems like you can buy a 2nd hand Tiffany''s ring for 50% of the original price. I was wondering how much the typical savings can be on a non branded used ring with a GIA certificate. Would you consider buying a used ring? With GIA certificate and independent appraisal of course.

 

[yssie]

Date: 2/19/2010 1:38:54 AM
Author:slycatty
It seems like you can buy a 2nd hand Tiffany''s ring for 50% of the original price. I was wondering how much the typical savings can be on a non branded used ring with a GIA certificate. Would you consider buying a used ring? With GIA certificate and independent appraisal of course.

Absolutely!

 

[clgwli]

I have bought a lot of used pieces on ebay before. Just a few diamond pieces. In fact my last purchase was the ring in my avatar. It's an older cut stone and in that case I buy what is pleasing to my eye since most won't rate well by modern standards. I personally do not need a GIA report on stones like that. I do take for independent appraisals though if it is worth enough. If not a larger diamond ring, the minimum I do is take it to a trusted jeweler to make sure it is what they claim it is. I have one who is happy to run simple tests to make sure that the diamonds are real and that the metal is what they claim it to be.

If I were buying a large modern ring, I would definitely want certifications along with it. And if they are not available (as in a non-branded ring) I would make sure that the return policy is good and make sure it is checked out immediately to see if it matches what is claimed.

I am different though, for older pieces like I said I do not require certifications at all. I do avoid anyone who says their stone is SI range though, unless I am looking for earrings. If I were buying new you better believe I do want a GIA or AGS cert, but with used I do look differently.

You can find awesome deals on non branded pieces. Particularly vintage. I've gotten quite a few things for insane deals especially from estate sales. My last was bought for $100 and it appraised for $1500. It isn't a particularly huge ring (approx .4 carats based on measurements) but it is well cut for its age and only set in 14K white gold. I would say on average you get it for about 1/4 to 1/2 of retail cost. If people are desperate you get it for better and if people are trying to make loads of money you will only find sales for a small portion off the appraisal price. I haven't seen those sell quickly though.

The key IMO is to take it to be looked at the day you get it if you can. And if not in person, always ask for information and more pictures/videos if you can. Again make sure the return policy is a good one. Buying used is not for the weak though. It can be stressful.

 

[Rockit]

I most definitely purchase pre-owned jewelry, as well as loose stones. There are so many factors involved with pricing and negotiating pre-owned jewelry, it is hard to give a definite number in terms of average total savings. How old is the piece? How rare? Is it still in production? Who made it? Who designed it? What is the condition? Is there a box/certificate/receipt/authentication – even a story to accompany the piece? Who owned it? Who is selling it? Can I return it? How am I paying for it?

It is reasonable to expect to save between 30 to 60 percent. However, as already mentioned, sometimes a seller won''t come near that. You do see many of these pieces for sale for quite awhile. And, as stated, sometimes you can obtain pieces for next-to nothing... although this is more the exception than the norm, I think.

And, obviously, there is a whole class of pricey, collectible, designer pieces that escalate in value no matter what, selling for WAY more than their original prices.

 

[slycatty]

Thanks for your input. What do you think about loose stones? How much are they usually sold for 2nd hand via ebay or craigslist? Ideal cut and with GIA or AGS certificates.