? for those who sold their ering/set

[sweetchix]

I know there have been a lot of posts about what you did with your ring(s). I'm still debating on what to do with mine. I go back and forth between selling it and using the money towards some debts or keeping it to use the diamond(s) for some jewelry for DDs.

My question is for those of you who sold your rings. Did you have it appraised? How far off from the appraisal did it sell for? My set is appraised for $13k. When I went to see what I could get for it, the jeweler, who not only custom made my wedding band but also appraised the set, said he'd only be interested in the large diamond and would give me about $1k for it. That was disappointing. I was expecting at least $5k.

Also, did you sell it directly to a jeweler or did you have them sell it and then take a portion of the amount?

[berbles]

I haven't sold them yet.

But everyone I've talked to has said to sell them on eBay. Jewelers won't give you shit for them.

[alleinesein]

What are the stats on the diamond?

For diamond e-rings you will never get back the money you paid for it nor will you get close to the appraisal for resale. Resale prices tend to be based off of the Rappaport wholesale prices. Diamond prices also took a hit in June so the market is not very strong right now.

Part of the price you paid and the appraisal price is the value of the metal. Depending on when you purchased the ring and the price of gold at the time you may have been at the height of the market when gold was $1600+ per ounce.

You might be able to get 1/4th to 1/3rd of the value if you do a private sale.

[sweetchix]

Jul 5, 2016 20:00:57 GMT -5 alleinesein said:

What are the stats on the diamond?

For diamond e-rings you will never get back the money you paid for it nor will you get close to the appraisal for resale. Resale prices tend to be based off of the Rappaport wholesale prices. Diamond prices also took a hit in June so the market is not very strong right now.

Part of the price you paid and the appraisal price is the value of the metal. Depending on when you purchased the ring and the price of gold at the time you may have been at the height of the market when gold was $1600+ per ounce.

You might be able to get 1/4th to 1/3rd of the value if you do a private sale.

Center diamond is approximately 1ct. Quality rates at G-H (color) and VS2 (clarity). Side diamonds total approximately 1.25cts, G-H (color) and SI (clarity). All princess cut and platinum setting. Ring was purchased in 2002.

[alleinesein]

Jul 5, 2016 20:18:46 GMT -5 sweetchix said:

Jul 5, 2016 20:00:57 GMT -5 alleinesein said:

What are the stats on the diamond?

For diamond e-rings you will never get back the money you paid for it nor will you get close to the appraisal for resale. Resale prices tend to be based off of the Rappaport wholesale prices. Diamond prices also took a hit in June so the market is not very strong right now.

Part of the price you paid and the appraisal price is the value of the metal. Depending on when you purchased the ring and the price of gold at the time you may have been at the height of the market when gold was $1600+ per ounce.

You might be able to get 1/4th to 1/3rd of the value if you do a private sale.

Center diamond is approximately 1ct. Quality rates at G-H (color) and VS2 (clarity). Side diamonds total approximately 1.25cts, G-H (color) and SI (clarity). All princess cut and platinum setting. Ring was purchased in 2002.

$1000 is dead on for that stone.  That color, clarity and carat weight retail for $3K-$6K (the diamonds priced between $5k and $6K  that I found are based solely on surface reaching inclusions and can be re-cut with minimal weight loss and the clarity grade can be improved to IF or FL and therefore increase the price).  

Square Modified Brilliants/Rectangular Modified Brilliants (aka the "princess cut") are not as expensive as Round Brilliants.  They are the cheapest/easiest cutting style because they have a minimal amount of facets and since diamond rough is typically octahedral shaped they can cleave the rough into two pieces and get two pyramid shaped diamonds that can be easily polished into a "princess" cut. They tend to be 25% cheaper in cost than a RBC (round brilliant cut) diamond with the same clarity, color and carat weight.

Do you have any estate jewelers in your area?  You might want to check with them to see if they will offer you more.  

Your best bet would be to list it on craigslist or another sale site for 1/3rd of what you paid for it an be prepared to accept 1/4th of what you paid for it.  Ignore the appraisal price since you will never get anything close to that.  If the diamond has a GIA report you might also try selling just the loose stone with the report.  You can then save the setting for another purpose or find a nice colored gemstone to pop into it and create a new ring.

I spent 8.5 years as a staff grader for the biggest name in the diamond industry.  The retail price of diamonds is one of the biggest rip offs in the market.  Most jewelers will mark up stones 200%-600% above the wholesale price.  Jewelers will never buy back a stone at retail price; they will only do it at wholesale prices.

[sweetchix]

Jul 5, 2016 21:59:19 GMT -5 alleinesein said:

Jul 5, 2016 20:18:46 GMT -5 sweetchix said:

Center diamond is approximately 1ct. Quality rates at G-H (color) and VS2 (clarity). Side diamonds total approximately 1.25cts, G-H (color) and SI (clarity). All princess cut and platinum setting. Ring was purchased in 2002.

$1000 is dead on for that stone.  That color, clarity and carat weight retail for $3K-$6K (the diamonds priced between $5k and $6K  that I found are based solely on surface reaching inclusions and can be re-cut with minimal weight loss and the clarity grade can be improved to IF or FL and therefore increase the price).  

Square Modified Brilliants/Rectangular Modified Brilliants (aka the "princess cut") are not as expensive as Round Brilliants.  They are the cheapest/easiest cutting style because they have a minimal amount of facets and since diamond rough is typically octahedral shaped they can cleave the rough into two pieces and get two pyramid shaped diamonds that can be easily polished into a "princess" cut. They tend to be 25% cheaper in cost than a RBC (round brilliant cut) diamond with the same clarity, color and carat weight.

Do you have any estate jewelers in your area?  You might want to check with them to see if they will offer you more.  

Your best bet would be to list it on craigslist or another sale site for 1/3rd of what you paid for it an be prepared to accept 1/4th of what you paid for it.  Ignore the appraisal price since you will never get anything close to that.  If the diamond has a GIA report you might also try selling just the loose stone with the report.  You can then save the setting for another purpose or find a nice colored gemstone to pop into it and create a new ring.

I spent 8.5 years as a staff grader for the biggest name in the diamond industry.  The retail price of diamonds is one of the biggest rip offs in the market.  Most jewelers will mark up stones 200%-600% above the wholesale price.  Jewelers will never buy back a stone at retail price; they will only do it at wholesale prices.

This is all very helpful. Thank you. As I'm sure you can tell, I'm clueless on this and want to get as much as I can for it, if I decide to sell. 

[Deleted]

As pp said, you won't get much for them. I just sold mine to the jeweler so I could put the money in savings. Every little bit helps.

I'm not a very sentimental person in general (plus I don't like diamonds because of the ethics behind them and won't wear them anymore), so if my mom gave me a diamond, I would hang on to it out of guilt and not wear them.

Just my opinion is that the money could be used in a better manner, but obviously everyone has differing opinions.

[Deleted]

Sold mine pretty much immediately and got 1/4 of the appraised amount (went to 3 places). I was very disappointed but wanted the cash and the emotional break from it.

[bl]

There was a local jeweler in Dallas that came recommended as giving one of the fairest prices, so I went to him. My ering was appraised at 8k we paid a little over 4K for it and he offered me 800 cash or up to 2k trade in value. I got a really nice pair of 1 ct diamond earrings and 100 bucks. I was really surprised that he was very interested in my wedding band because he said it had some of the nicest cut small stones he had ever seen. I wouldn't even let him give me a price on it because I had decided I wanted to keep that as a right hand ring.

I was shocked at how little I would have been able to get out of it cash price and know from talking to several friends and reading on here that it's common because diamonds are marked up so much.

[Deleted]

I tried to sell but I was going to get 300 dollars when I purchased at 2500. So I took my middle diamond out and made a solitaire necklace. I am looking at synthetic stone to put in my setting for a right hand ring. I will no longer buy diamonds due to ethical sourcing (or lack there of) and mining practices. I would only be okay with estate jewelry or recycled jewelry (if that makes sense?)

I was told if you want the best amount, you need to do a private sale.

[acr]

I sold to the jeweler my new husband and I were buying my new ering from. We were able to get slightly more $$ as a result, but still, it was nowhere near the appraised value.

[dancelnow]

My plan is to sell it to the jeweler that made it who will give me credit for the purchase price of the stones towards something new there. The band wasn't expensive so I may eBay it or something.

[verycontrary247]

I had a very simple 3/4 carat round solitaire with a plain band. I sold it to someone off Craigslist for half what exH paid. Met up at the store it was purchased at so I wouldn't get attacked and they verified it was the diamond the paperwork said it was.

[brewco]

I had my appraised and the jeweler offered me about 1/4 of the appraised value. They did have an option to sell consignment through their store for a very small fee, and I could set the price point. I was able to sell my set for a reasonable price that was significantly more than the jeweler offered me.

[berbles]

Speaking of selling wedding bands, I have a couple LOLs regarding mine.

I went before Christmas to a jeweler to ask about appraising the set (3 bands). They wanted $85 PER PIECE. OMG LOL. The two bands that AREN'T the e-ring are worth MAYBE $200 TOGETHER. No fucking way am I spending more than they're worth for an appraisal. 

XH called me a couple weeks ago, asking about the rings. Typical of him, he started in with this whole spiel about how we agreed to split the profit 50/50 if I ever sold them. 




No no. I was VERY careful and specific when I wrote the divorce decree. I researched the law in my state and wrote it the same way: e-ring belongs 100% to me (conditional gift; the condition being the wedding), wedding and anniversary bands are split 50/50.

He fucking argued with me for like 10 minutes about it. I FUCKING KNEW he didn't review the divorce decree, like he was supposed to. 

I told him that I would agree to split everything 50/50 if he wanted to do all the leg work of getting it sold, as long as he understands and ACKNOWLEDGES that I'm agreeing to this AS A FAVOR - I do NOT have to give him any money for the e-ring. He's desperate for money. But I also told him that he'll be lucky to get $1k for all three pieces. He tried to argue with me AGAIN, since he spent $3k on the diamond alone. I said, "Yeah, I know. Jewelry resale is a fucking racket. You're not going to make hardly any money from it. And you WILL have to give me half of anything you do make." 

Yeah, I haven't heard shit since then. That's what I thought, numbnuts.

[FormerlyRR]

I sold my center stone to a broker and replaced it with a beautiful peridot (anecdotal, but I loved my setting). The whole ring was appraised at $27k, he paid $17k, and I got $7k for the stone. It was a crazy good one, about 1.7 ct and G/VVS2. I sold it to a broker through CL. My jeweler said I did well, he would have expected to pay about what I got to buy the stone himself.
I wasn't in a hurry, and I know my patience paid off. mcc sold a stone on consignment, and as I remember she was pretty happy with the outcome. I think the most important thing is to remember you didn't buy it, so it is new money to you. Get over what it cost or is appraised for, deal with what it will actually sell for.