How to price an engagement ring for resale?

Graz73

My Profile

Registered User: offline
Joined: 12-01-08
Posts: 7
Years:

My Karma

Power: 0
Points: 10
Graz73 is on a distinguished road

How to price an engagement ring for resale?

Post#1 @ 12-01-08 , 09:04 AM

I have an older engagement ring that I want to sell to help finance a new ring that i am designing.

I have the original paperwork/appraisal that came with the older ring, but I have no idea what it's worth, or the best place to sell it.

I could even try to sell it on this site, but if I did, I don't know what a fair asking price would be for a common ring like this one...

-1/3 ct
-"square mod brilliant" cut
-3.65 x 3.58 x 2.69 mm
-weight: 0.31 carat
-near colorless (i)
-clarity: Si (2)
-polish/symmetry: good/good

with a 14 karat yellow gold mounting

Last edited by Graz73 : 12-01-08 at 09:05 AM. Reason: wording

Jan

My Profile

Network Jeweler: offline
Joined: 06-12-99
Posts: 7,656
Years:

My Feedback (49)

Feedback In:	+29	0
Feedback Out:	+48	0

My Store

321-984-0757
Diamonds: 122
Jewelry: 292
Gemstones: 43

My Karma

Power: 235
Points: 11368
Jan has a reputation beyond repute

Hits: Out=14641, In=4551
Referrals: 22

Re: How to price an engagement ring for resale?

Post#2 @ 12-01-08 , 10:25 AM

Hi Graz,
Does it have a GIA lab report?

Jan signature

For those that want to know the TRUTH about diamonds, just ask

Diamond Brokers of Florida

Graz73

My Profile

Registered User: offline
Joined: 12-01-08
Posts: 7
Years:

My Karma

Power: 0
Points: 10
Graz73 is on a distinguished road

Re: How to price an engagement ring for resale?

Post#3 @ 12-02-08 , 08:57 AM

Quote:

Originally Posted by Jan

Hi Graz,
Does it have a GIA lab report?

This ring has an S.O.A. number, and says "Contact the I.G.I. for a detailed appraisal.

Graz73 My Profile Registered User: offline Joined: 12-01-08 Posts: 7 Years: My Karma Power: 0 Points: 10	Anyone? Post#4 @ 12-05-08 , 08:49 AM I'm still hoping for some advice here... I have looked into selling this to several area jewelers and most have not been interested...

Jan

My Profile

Network Jeweler: offline
Joined: 06-12-99
Posts: 7,656
Years:

My Feedback (49)

Feedback In:	+29	0
Feedback Out:	+48	0

My Store

321-984-0757
Diamonds: 122
Jewelry: 292
Gemstones: 43

My Karma

Power: 235
Points: 11368
Jan has a reputation beyond repute

Hits: Out=14641, In=4551
Referrals: 22

Re: How to price an engagement ring for resale?

Post#5 @ 12-05-08 , 10:11 AM

You will need to take it to an appraiser to find out the true value before you can sell it.

Jan signature

For those that want to know the TRUTH about diamonds, just ask

Diamond Brokers of Florida

Barreto My Profile Registered User: offline Joined: 12-02-08 Posts: 15 Years: Last seen wearing: Ring My Karma Power: 0 Points: 10	Re: How to price an engagement ring for resale? Post#6 @ 12-05-08 , 10:16 AM I agree with Jan, an appraiser would be able to give you an honest value on your item

BrianKnox

My Profile

Network Jeweler: offline
Joined: 08-26-03
Posts: 2,421
Years:

Last seen wearing: Black shoes with white socks

Brian Knox- Jeweler Genius!

Split Shank Engagement Rings

My Feedback (21)

Feedback In:	+18	0
Feedback Out:	+21	0

My Store

612-823-8752
Diamonds: 7
Jewelry: 165
Gemstones: 4

My Karma

Power: 398
Points: 34598
BrianKnox has a reputation beyond repute

Hits: Out=2921, In=260
Referrals: 21

Re: How to price an engagement ring for resale?

Post#7 @ 12-05-08 , 11:07 AM

Why don't you post the paperwork/appraisal that you already have and the members here could maybe advise you from that?

Brian

BrianKnox signature

Knox Jewelers / Minneapolis, Minnesota
Knoxrings.com 1-888-347-4493

Graz73 My Profile Registered User: offline Joined: 12-01-08 Posts: 7 Years: My Karma Power: 0 Points: 10	Appraisal Info Post#8 @ 12-09-08 , 10:31 AM OK, I scanned my ring's info. Take a look and see if this helps: Thanks!

Graz73 My Profile Registered User: offline Joined: 12-01-08 Posts: 7 Years: My Karma Power: 0 Points: 10	Anyone? Post#9 @ 12-12-08 , 08:43 AM bump

BrianKnox

My Profile

Network Jeweler: offline
Joined: 08-26-03
Posts: 2,421
Years:

Last seen wearing: Black shoes with white socks

Brian Knox- Jeweler Genius!

Split Shank Engagement Rings

My Feedback (21)

Feedback In:	+18	0
Feedback Out:	+21	0

My Store

612-823-8752
Diamonds: 7
Jewelry: 165
Gemstones: 4

My Karma

Power: 398
Points: 34598
BrianKnox has a reputation beyond repute

Hits: Out=2921, In=260
Referrals: 21

Re: How to price an engagement ring for resale?

Post#10 @ 12-12-08 , 05:11 PM

Hi,

I would estimate an online transaction between individuals to be 20-30% of the appraisal valuation.

Brian

BrianKnox signature

Knox Jewelers / Minneapolis, Minnesota
Knoxrings.com 1-888-347-4493

Graz73 My Profile Registered User: offline Joined: 12-01-08 Posts: 7 Years: My Karma Power: 0 Points: 10	Re: How to price an engagement ring for resale? Post#11 @ 12-16-08 , 09:15 AM SO you mean maybe between $226 - $339?