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Hello All! I need to know the best process or place to seel a diamond ring? Online? To a jewelry store? CL? I will be grateful for any advice. I've never done this and its really feeling a bit scary.
Shop around to see who will give you the best price. Try pawn shops, Craigslist, estate sale & auctioneers people whom also keep a storefront. Depending on the quality of the diamond you may want to price out the stone seperate from the metal. A jewelry store may be interested in the stone alone. Just be aware that you'll probably get well under 1/2 the price paid for it at the time of purchase.
Unless you have a big rock in the ring, a pawn shop will probably only offer you about half of melt for the gold, and nothing for the diamond. You'd be better off selling it on ebay... Provide GOOD photos of the ring, and a very thorough description if you go that route. Keep in mind that in this economy and with the price of gold as high as it is, jewelry sellers are routinely being lowballed. A friend of mine recently sold his jewelry business because there's just no money in it right now.
STAY AWAY FROM CRAIGSLIST. CL is great for a lot of things, but you're asking for trouble if you try and sell jewelry with it.
You could also see if there's any consignment shops in your area.
I agree with Swagger. Save yourself a lot of frustration and avoid Craigslist like the plague.
If you do decide to go with Ebay or online as mentioned above, take clear photos of the ring from all angles and provide accurate measurements and a well-detailed description. Try to make your presentation as professional as possible. It's not a good idea to use stock or doctored photos. Show the potential buyers what they are actually paying for.
I would also consider using PayPal only for accepting payment. No checks or money orders. Additionally, I would not let that ring out of my sight until full payment is received into your account and cleared. I also highly recommend you ship the ring with insurance and tracking capabilities.
If you elect to sell it locally, it's best to do so with a reputable and well known auctioneer or one who deals in estate sales in your area.
I would NOT sell the ring on eBay. Have heard stories of buyers purchasing rings, replacing the stones with imitation or less expensive stones and returning them--why risk it? If you have a reputable jeweller you've done business with who can't buy it from you, ask them if they know who might buy it. As others commented, don't expect to get full price. Good luck.
Okay, if you are a guy trying to sell it, try not to be so forward about that fact.
I'm from Vegas. Pawn shops will give you less than nothing for the diamond and a little toward the gold.
I shopped my ring around to a few jewelers that do consignment and anything under 1 carat is simply laughed out of the store, and they prefer 2 carats and above (not total but in one rock.)
These rings are tough to sell! Good luck.
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