Sign in or Register Home
DiamondRing.comYour Online Jewelry Shopping Network
 Diamond Engagement Rings at James Allen 
Buy Sell Education Forum Directory Blog  
View Recent Products View Posts Ask Us Ask our Network Jewelers for a quote on a diamond/gemstone/jewelry




 
Post Reply New Thread
 
Thread Tools Search this Thread
Old mkrystalkay
 
My Profile
Registered User : offline
Joined: 09-27-06
Posts: 4
Years:
 
My Karma
Power: 0
Points: 42
mkrystalkay is on a distinguished road


I need advice on selling my diamond ring...
Quote this post and reply to it Post#1 @ 10-01-06 , 04:27 PM


I have been trying to sell a diamond engagement for about one year. It seems like I have tried every avenue and have had no luck. Does anyone have any advice for me? This is the first time I have sold anything like this. I have listed it in the classifieds on this site so please feel free to take a look. I would greatly appreciate any suggestions.

Thanks,
Krystal

Jewelry Search:

Category:  Budget:  


Old kleinkath

    kleinkath's Avatar
 
My Profile
Registered User : offline
Joined: 01-14-06
Posts: 563
Years:
Last seen wearing: Fancy Yellow Emerald Cut Diamond
 
My Feedback (13)
Feedback In: 
+11  0
Feedback Out:
+13  0
 
My Karma
Power: 153
Points: 9176
kleinkath has a reputation beyond repute kleinkath has a reputation beyond repute kleinkath has a reputation beyond repute kleinkath has a reputation beyond repute kleinkath has a reputation beyond repute kleinkath has a reputation beyond repute kleinkath has a reputation beyond repute kleinkath has a reputation beyond repute kleinkath has a reputation beyond repute kleinkath has a reputation beyond repute kleinkath has a reputation beyond repute


Re: I need advice on selling my diamond ring...
Quote this post and reply to it Post#2 @ 10-01-06 , 05:15 PM


Hi Krystal,

I had a look at your classified and I think that you have nice pictures which is important. Does your center stone have a report from GIA or another lab such as EGL? Also, did you include the ring size itself?

Good luck with your sale!

Old BrianKnox

    BrianKnox's Avatar
 
My Profile
Registered User : offline
Joined: 08-26-03
Posts: 2,429
Years:
Last seen wearing: Cordovan shoes with white socks
Visit my blog :  August?s Custom Engagement Ring Spotlight
 
My Feedback (21)
Feedback In: 
+18  0
Feedback Out:
+21  0
 
My Karma
Power: 444
Points: 35458
BrianKnox has a reputation beyond repute BrianKnox has a reputation beyond repute BrianKnox has a reputation beyond repute BrianKnox has a reputation beyond repute BrianKnox has a reputation beyond repute BrianKnox has a reputation beyond repute BrianKnox has a reputation beyond repute BrianKnox has a reputation beyond repute BrianKnox has a reputation beyond repute BrianKnox has a reputation beyond repute BrianKnox has a reputation beyond repute
Hits: Out=4440, In=260
Referrals: 23


Re: I need advice on selling my diamond ring...
Quote this post and reply to it Post#3 @ 10-01-06 , 05:23 PM


Hi Krystal,


If it was easy to sell diamond jewelry on the internet, every one and their brother would be doing it... oh wait... every one and their brother is doing it

Seriously, for an unknown seller to sell a diamond ring online, auction, etc, the center diamond has to have a respected lab report or the deal has to be spectacular.

Pardon me for being blunt, but I am quite sure that the ring will not sell online for the price you have listed, as that price is close to a low retail price.

For a buyer to pay a retail price, they expect more in the bargain such as the piece of mind than an known seller brings, guarantees, return privlege, etc.

This in a nutshell, is what you are up against.

What about the store that sold it? do they have any return policy at all?

Being pleasant but persistant with the original seller could maybe reap some rewards, think creatively, what about a transferable trade-in credit that you could offer for sale at a discount.

Maybe some of the members can offer other ideas.

Brian


BrianKnox signature
Knox Jewelers / Minneapolis, Minnesota
Knoxrings.com 1-888-347-4493
Old mkrystalkay
 
My Profile
Registered User : offline
Joined: 09-27-06
Posts: 4
Years:
 
My Karma
Power: 0
Points: 42
mkrystalkay is on a distinguished road


Re: I need advice on selling my diamond ring...
Quote this post and reply to it Post#4 @ 10-01-06 , 10:07 PM


Hello,
I really appreciate your replies. It is understandable that buyers would be reluctant to purchase a ring on the internet from an unknown buyer. How would I go about getting a lab report? As for the price, this is the type of advice I need. I was unsure how to set my price. I am not really concerned with making money off of the ring...just concerned with coming close to breaking even. Actually, I bought the ring from a friend going through a divorce. She needed the money and I really thought I could get at least what I paid. Well, I have quickly learned how difficult it is to sell jewelry. I have tried ebay, newspaper, and word of mouth. I even took it to a jewelry store and tried consignment for about nine months. Again, I really appreciate your advice. If you think of anything else, please know that I would greatly appreciate it.

Krystal

Old DiamLady

    DiamLady's Avatar
 
My Profile
Registered User : offline
Joined: 04-05-04
Posts: 1,812
Years:
Last seen wearing: E/VS Emerald Cut
 
My Feedback (4)
Feedback In: 
+4  0
Feedback Out:
+4  0
 
My Collection
Items Listed: 8
 
My Karma
Power: 215
Points: 13377
DiamLady has a reputation beyond repute DiamLady has a reputation beyond repute DiamLady has a reputation beyond repute DiamLady has a reputation beyond repute DiamLady has a reputation beyond repute DiamLady has a reputation beyond repute DiamLady has a reputation beyond repute DiamLady has a reputation beyond repute DiamLady has a reputation beyond repute DiamLady has a reputation beyond repute DiamLady has a reputation beyond repute
Hits: Out=440, In=0
Referrals: 1


Re: I need advice on selling my diamond ring...
Quote this post and reply to it Post#5 @ 10-02-06 , 12:20 AM


Hi mkrystalkay,

You've gotten some good advice already. But I just wanted to reply to one comment you made above:

<<<I am not concerned with making money off of the ring... just concerned with coming close to breaking even>>>

It is very common - and most people expect - to pay closer to half what the retail price was. Or less. When you're talking about a luxery purchase (like diamonds and jewelry), people would rather pay a little more and go to a retailer to get the various other benefits as Barry mentioned above. If they are going to buy a used or 2nd hand item, then they want a great deal to make it worth thier risk. And remember that no matter what paperwork you have, or how many references you have, the buyer is indeed taking a big risk buying from an individual.

I have seen some people come through here and other online places and try it get full price - and even make a profit off something. But it almost never sells.

It's hard to take when you're selling something you know you paid a lot more for... but that's just the way it is. Kinda like buying a car. The second you take a new car off the lot it drops in value. If you're buying a used car, you can either pay a little more and buy it from a used car dealer (where you have some measure of protection against fraud), or you expect to pay much less by buying it from an individual. Sometimes, if the deal is really good, then you'll risk buying from the individual.

I wish you much luck on your sale, but I don't think you'll get anywhere near what you paid.


DiamLady signature
~*~*~Rhonda~*~*~
Old DiamLady

    DiamLady's Avatar
 
My Profile
Registered User : offline
Joined: 04-05-04
Posts: 1,812
Years:
Last seen wearing: E/VS Emerald Cut
 
My Feedback (4)
Feedback In: 
+4  0
Feedback Out:
+4  0
 
My Collection
Items Listed: 8
 
My Karma
Power: 215
Points: 13377
DiamLady has a reputation beyond repute DiamLady has a reputation beyond repute DiamLady has a reputation beyond repute DiamLady has a reputation beyond repute DiamLady has a reputation beyond repute DiamLady has a reputation beyond repute DiamLady has a reputation beyond repute DiamLady has a reputation beyond repute DiamLady has a reputation beyond repute DiamLady has a reputation beyond repute DiamLady has a reputation beyond repute
Hits: Out=440, In=0
Referrals: 1


Re: I need advice on selling my diamond ring...
Quote this post and reply to it Post#6 @ 10-02-06 , 12:21 AM


Oops sorry, my post above has a typo.

When I referred to what Barry said... I meant BRIAN.


DiamLady signature
~*~*~Rhonda~*~*~
Old brandonvickers
 
My Profile
Registered User : offline
Joined: 10-06-06
Posts: 1
Years:
 
My Karma
Power: 0
Points: 10
brandonvickers is on a distinguished road


Re: I need advice on selling my diamond ring...
Quote this post and reply to it Post#7 @ 10-06-06 , 04:16 PM


Quote:
Originally Posted by knoxdiamonds

What about the store that sold it? do they have any return policy at all?

Being pleasant but persistant with the original seller could maybe reap some rewards, think creatively, what about a transferable trade-in credit that you could offer for sale at a discount.



A free upgrade policy was one of the reasons I had when I foolishly bought by first engagement ring from a no longer local to this country chain store...

Now that I am in the market for a new engagement ring, what advice do you have for someone looking upgrade when the orignal store is not available?
I spent around $2800 for a .5 carat solitare ring and another $800 for custom wedding bands about 7 years ago and I think I have the orginal reciepts. I am willing to buy a ring that is worth AT LEAST double that value, especially if I could find another store that would give me a decent credit for the original rings.

Would you even consider trade in for even partial value towards a new ring? I don't expect to get full value, as the chain store promised, but I would like to do much better than I would at a pawn shop or eBay. If you wouldn't do that, have you heard of anyone in MN that would?

Old BrianKnox

    BrianKnox's Avatar
 
My Profile
Registered User : offline
Joined: 08-26-03
Posts: 2,429
Years:
Last seen wearing: Cordovan shoes with white socks
Visit my blog :  August?s Custom Engagement Ring Spotlight
 
My Feedback (21)
Feedback In: 
+18  0
Feedback Out:
+21  0
 
My Karma
Power: 444
Points: 35458
BrianKnox has a reputation beyond repute BrianKnox has a reputation beyond repute BrianKnox has a reputation beyond repute BrianKnox has a reputation beyond repute BrianKnox has a reputation beyond repute BrianKnox has a reputation beyond repute BrianKnox has a reputation beyond repute BrianKnox has a reputation beyond repute BrianKnox has a reputation beyond repute BrianKnox has a reputation beyond repute BrianKnox has a reputation beyond repute
Hits: Out=4440, In=260
Referrals: 23


Re: I need advice on selling my diamond ring...
Quote this post and reply to it Post#8 @ 10-06-06 , 07:00 PM


Quote:
Originally Posted by brandonvickers

...I foolishly bought by first engagement ring from a no longer local to this country chain store...

...



Hi Brandon,

Let me guess... does the name start with a "Sp" and end with a "ence"?

Sounds like we can help you out, stop in sometime. It would be nice if the center diamond had an independent lab report (GIA-AGS) so that we could be sure it is treatment-free, but its not a deal-breaker if not.


Brian


BrianKnox signature
Knox Jewelers / Minneapolis, Minnesota
Knoxrings.com 1-888-347-4493
Old denverappraiser
 
My Profile
Registered User : offline
Joined: 07-01-04
Posts: 330
Years:
 
My Karma
Power: 72
Points: 623
denverappraiser is a name known to all denverappraiser is a name known to all denverappraiser is a name known to all denverappraiser is a name known to all denverappraiser is a name known to all denverappraiser is a name known to all
Hits: Out=1198, In=28


Re: I need advice on selling my diamond ring...
Quote this post and reply to it Post#9 @ 10-07-06 , 08:04 PM


Iím going to be even harsher than Brian was.

Your price is way too high. A well cut and correctly graded 0.50 round SI2 H will sell by one of the dealers here for about $1,200 or less. This includes trade in programs, warranties, lab reports, guaranteed provenance and other value added features that you, as an individual, are going to have a hard time matching. Poorly cut or poorly graded stones will trade for even less than that. Thatís why itís so important for both you and your customer to have a credible basis for the grading. The advantage you have over these people is your ability to offer a low price. They, after all, need to stay in business while youíre only trying to make a single sale.

A used platinum solitaire with 1/4cts. total weight of baguette melee is not going to get a lot of interest unless the price is awesome. Depending on the amount of platinum used and the accuracy of the grading, many of the dealers here sell comparable things new for about $800 or less. Check their websites and look at the offerings for something similar. A scrap dealer, meaning one who takes it apart and recycles the materials into other things will probably offer less than $200 for the mounting (not including the center stone).

Set your price to be higher than you can get from a dealer (the bottom value) and less than your potential customer is expecting to pay from their alternatives (your top value). How close you can get to that top dollar value will depend on your sales and advertising skills as well as your connections to potential customers.

Neil

Old Larissa
 
My Profile
Registered User : offline
Joined: 05-27-05
Posts: 71
Years:
 
My Karma
Power: 74
Points: 1574
Larissa has a brilliant future Larissa has a brilliant future Larissa has a brilliant future Larissa has a brilliant future Larissa has a brilliant future Larissa has a brilliant future Larissa has a brilliant future Larissa has a brilliant future Larissa has a brilliant future Larissa has a brilliant future Larissa has a brilliant future


Re: I need advice on selling my diamond ring...
Quote this post and reply to it Post#10 @ 10-07-06 , 08:28 PM


I agree about the price. From the details that you gave, my ring is almost exactly the same and I paid less than half of what you're asking for.

Old mkrystalkay
 
My Profile
Registered User : offline
Joined: 09-27-06
Posts: 4
Years:
 
My Karma
Power: 0
Points: 42
mkrystalkay is on a distinguished road


Re: I need advice on selling my diamond ring...
Quote this post and reply to it Post#11 @ 10-07-06 , 10:22 PM


Let me begin by saying that I appreciate many of the posts here and I am pretty certain that I will have to take a loss on the ring. On the other hand, maybe I was unclear in my previous post when I said need help with price setting. Again, I have never attempted to sell a piece of jewelry therefore I came here for advice...not to be treated as a fool. Neil, your knowledge of this area is much greater than mine yet you give me advice, better yet, criticisim in such a harsh way. You basically restated Brian and DiamLady and I must say that I am much more receptive to constructive criticism rather than degradation. Thanks anyway.
Krystal

Old denverappraiser
 
My Profile
Registered User : offline
Joined: 07-01-04
Posts: 330
Years:
 
My Karma
Power: 72
Points: 623
denverappraiser is a name known to all denverappraiser is a name known to all denverappraiser is a name known to all denverappraiser is a name known to all denverappraiser is a name known to all denverappraiser is a name known to all
Hits: Out=1198, In=28


Re: I need advice on selling my diamond ring...
Quote this post and reply to it Post#12 @ 10-08-06 , 08:18 AM


Krystal,

Unlike Brian and Diamlady I gave you a specific strategy for how to arive at a price. I apologize that you found that degrading.

Neil

Old dlong66
 
My Profile
Registered User : offline
Joined: 03-16-10
Posts: 1
Years:
 
My Karma
Power: 0
Points: 10
dlong66 is on a distinguished road


Re: I need advice on selling my diamond ring...
Quote this post and reply to it Post#13 @ 03-16-10 , 07:49 PM


Quote:
Originally Posted by mkrystalkay
I have been trying to sell a diamond engagement for about one year. It seems like I have tried every avenue and have had no luck. Does anyone have any advice for me? This is the first time I have sold anything like this. I have listed it in the classifieds on this site so please feel free to take a look. I would greatly appreciate any suggestions.

Thanks,
Krystal

Unfortunately diamonds are one of the worst investments you can make regardless of what people say. As you have already experienced it's nearly impossible to resell them unless you drop the price to nearly nothing. A close friend of mine has been a jeweler all of his life and his father before him, so this isn't just someone spouting misinformation. I took several rings to him not to long ago all of which had decent size stones in them and he offered me less than a hundred bucks. Diamonds are like art. They are only valuable to the beholder and or someone who has the money to buy them, and are only marketable to the people in these circles. The only thing you can do is what you've been doing. And just hope that you get lucky and find that person looking for a good deal for a gift.

Read Messages in: JEWELRY All forums
Newer:
Up a Topic Necklace by JerryHicks
Up a Topic Unusual old rose cut cluster opinions please posted in Antique and Estate Jewelry by hollyann
Older:
Down a Topic Is a tiffany engagment ring worth the by paradisemike
Down a Topic More Inherited Gold posted in Antique and Estate Jewelry by Gemelli
Thread Tools Search this Thread
Search this Thread:
 
Advanced Search

Contact Us - Guidelines - Privacy Policy - Refer a Friend - Top^


Google Custom Search

XHTML | CSS
Logged in as Unregistered
Powered by: vBulletin®
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
Copyright © 1998 - Present, DiamondRing.com. oHraDaco.
All times are GMT -4. The current time is 03:49 PM.
Validation #23ac96ef.