Post subject: Re: Appraing/selling a used diamond engagement ring
Posted: Tue Nov 30, 2010 7:10 pm
Site Admin
Joined: Sun Oct 16, 2005 12:22 pm Posts: 21602 Location: San Francisco
roshanravan wrote:
Barbra Voltaire wrote:
What are you basing the "base Price" on Roshanraven?
How are you defining the market this "base price" is in?
Barbra i cant tell you my secrets
i can estimate price for Diamond with GIA report alone so if kirk wants to sell it online he get a price idea and put a reasonable price and doesnt sell lower
The diamond market is no secret. It is extremely transparent.
What is difficult, is defining the market in which it will be sold and determining values in a fair market or liquidation situation.
Part of appraisal science is defining the market in which an item is being valued.
How will the diamond be sold? Privately? To a Secondary Market Retailer? Auction?
All these venues have different values and they are different from a replacement value.
Post subject: Re: Appraing/selling a used diamond engagement ring
Posted: Tue Apr 24, 2012 11:34 am
New to the Forum or The Quiet Type
Joined: Tue Apr 24, 2012 10:13 am Posts: 4
Please advice me, I have similar situation like OP, and would love to get some advice considering question Barbara Voltaire posted: "How will the diamond be sold? Privately? To a Secondary Market Retailer? Auction? All these venues have different values and they are different from a replacement value."
--> So which would be the best method to sell the ring with cca 5+ carat stone? (bezel ring setting, so not sure about exact diameter)
The appraisal will be done with IGI for they can do it locally.
Thank you very much in advance for any advice posted...
Post subject: Re: Appraing/selling a used diamond engagement ring
Posted: Tue Apr 24, 2012 1:43 pm
Site Admin
Joined: Sun Oct 16, 2005 12:22 pm Posts: 21602 Location: San Francisco
Where do you live? If I was buying a diamond, I'd personally prefer a GIA report.
I can't tell you how you can sell your diamond, you need to research your options.
What is available to you? A 5+ carat stone is too expensive to sell on Craigslist or similar venues. Not to mention the dangers involved. Have you approached auction houses to check on percentages charged and gotten a feel for estimated price realized? Easier with a grading report. Private sale: Do you have a relative or co-worker who might be interested? Is the diamond just large, or is it a rare color and clarity. Is the ring contemporary or vintage? Could it be interesting to a vintage/antique dealer? Are there consignment options in your area? Would they insure the ring while it is in their shop, or would you have to? Make sure you find that out.
Post subject: Re: Appraing/selling a used diamond engagement ring
Posted: Tue Apr 24, 2012 3:50 pm
New to the Forum or The Quiet Type
Joined: Tue Apr 24, 2012 10:13 am Posts: 4
Thank you Barbara for your answer! Will check again what can be done with GIA here in Israel... As I understand - they have to send the stone in US, and I'm not comfortable with that... IGI can appraise the stone locally.
Auction houses don't have experts for diamonds in Israel, so I can only send the report + photos to them.
Israeli dealers to whom I approached said that for them it's not important does the stone have report from GIA or from IGI, and they want to see the stone "with their own eyes" & make opinion of their own... I'm a bit afraid of that part, but I guess it's unavoidable.. or?
Will check again what can be done with GIA here in Israel... As I understand - they have to send the stone in US, and I'm not comfortable with that... IGI can appraise the stone locally.
Hehe...as long as the GIA is insuring the diamond for a fair value in transit, loss would insure a very quick sale.
Will check again what can be done with GIA here in Israel... As I understand - they have to send the stone in US, and I'm not comfortable with that... IGI can appraise the stone locally.
Hehe...as long as the GIA is insuring the diamond for a fair value in transit, loss would insure a very quick sale.
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