Best way to sell diamond ring (Charlotte: for sale, consignment, how much)

[LH6259]

Are any local jewelers here in Charlotte known for offering reasonable and fair prices for old engagement and wedding rings? I've heard you will get the lowest amount by selling to a jeweler, but I'm hesitant to sell to the public b/c of scams. What's the avg percentage of the appraised price you should expect to get? Anyone have experience selling diamonds on ebay? thank you!

[clevelandguy811]

Took a pretty bad loss on an engagement ring once. Paid $6,000 and around town the highest offer I got was $1,500. Sold it on eBay to a diamond wholesaler in NYC for $2,500. Cheaper lesson than if I had given it and then we split up I suppose

[Ex-LI]

Perry's deals in "estate" jewelry. You could go over and see what they offer. You don't have to accept it.

Fine Antique Jewelry - Antique Estate Jewelry - Antique Engagement Rings | Perry's Fine Antique & Estate Jewelry

Or, stand on the corner of Freedom and Morehead with a big sign that says "Diamond Ring for Sale"

[LarryBGood]

You can put it on consignment at Perry's at SouthPark too.

[LH6259]

Thanks -- I will see what Perry's has to offer and what percent they take on consignment sales. Sounds like eBay might be the better way to go though. It seriously baffles me that you can't resell a diamond for anywhere close to what you paid for it. It's not like it's an item that depreciates over time! I understand that buyers want to make a profit over what they pay for it, but c'mon! It's almost insulting.

[SorryIMovedBack]

I'm not in Charlotte. First, you have to know what you have. If it's a GIA or AGS graded diamond, or even EGL, that's great. Savvy buyers will know what those labs are. If it's IGI or some other obscure lab that the mall jewelers, use, you will probably take a bath selling it. If it's an average mall stone, then probably try to consign it or sell it locally is your best bet. Or just walk it around to all the pawn shops and used jewelry buyers and take the best offer.

Sell the diamond and the setting separately: May buyers look for a used mounting for a CZ or Moissanite or colored stone, but they won't want a complete used e-ring.

Mount the diamond in a expensive mounting and sell it as a pendant is another strategy. You just have to determine how much effort and expense do you want to to go to. If it's an average mall store ring, then most Internet buyers won't want that because they are looking for better, like AGS 000 or GIA 3X stones.

ebay will take 15% in fees and that is charged on the total with shipping. Plus you have to write an air-tight description to avoid buyer claiming "not as described." I advise read the ebay Community board "Seller Central" to see what scams du jour the fraudulent buyers are running. If you have a local shop that will consign for you on ebay, that might be a possibility but you're going to lose more than 15% because they will add their own fees.

Here are online resources:

Pricescope.com - join, and there's a Preloved Jewels forum there
They now have a "sell your diamond" link under Resources. (That offers the diamond to the PS vendors, quietly, nad they will not offer you more than wholesale on it. Perhaps less. Some are only interested in GIA 3X or AGS 000 stones.)

High Performance News for Consumer’s Guide To Reselling Diamonds

more private sale options:
diamondbistro.com
loupetroop.com

consign online:
Good Old Gold in NY
LoveAffairDiamonds
Home
Pearlman's Jewelers

[flyingscotsman]

Originally Posted by clevelandguy811

Took a pretty bad loss on an engagement ring once. Paid $6,000 and around town the highest offer I got was $1,500. Sold it on eBay to a diamond wholesaler in NYC for $2,500. Cheaper lesson than if I had given it and then we split up I suppose

I think that just reflects the mark up that jewelers charge.

[rothbear]

I see that now Cascade Refining is buying diamonds as well as gold, etc. You might check with them as well.

[Babyblu656]

My maiden name is Perry so I am glad to find this. My father bought my mother a diamond solitaire ring 20 + years ago. I had a reputable appraisal done showing it is valued at over 7000.00 dollars. I have the jacket for it also. Would I waste my time trying to sale this? Should I just keep it and pass it down to my daughter?
Thank you,
L Perry Butler

[Babyblu656]

Thank you! From one Perry to another!