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 Shoot Yeah
Posts: 4273
  
Location: Where you need a paddle... Oregon! | I have a diamond ring that I might need to sell to get quick cash. I'm not a jewelry person so I'm not sure how to start. I had it appraised at 8-10 thousand. What's the best way to go about selling something like this and getting the most from it? The band is an outdated style and I wonder if I had the diamond removed if it might be easier to sell as a stone...? |
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 Elite Veteran
Posts: 1119
| Jewelery is really hard to resell. We bought my wedding ring off Craigslist for about 20% of the appraisal price. The only other option I can think of is a pawn shop! |
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 Expert
Posts: 2013
Location: Piedmont, OK | Some jewelers will buy it but generally its for a fraction of what it appraises for |
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The Resident Destroyer of Liberal Logic
Location: PNW | I'd take the ring and whatever appraisal documentation with you to a high end pawn shop. BUT be prepared for them to only offer you gold price + somethinh for the diamond. Unless it is a really fancy ring they generally won't pay anything close to what the appraised retail value would be. |
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 Expert
Posts: 1718
Location: Southeast Louisiana | Retail mark up on jewelry is 70%. That's why you can't get nearly what you paid for it and probably won't get close to the appraised value. For the quickest cash, go the high end pawn shop route. You can also see what they offer you, then try to get more for it selling it on craigslist or something like that. |
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 Expert
Posts: 2128
| I sold one on craigslist. Be careful though because I was bombarded with scammers. If you have documentation of the apprasial that is a plus. When you find an interested person of course they are going to want to see it, so make sure you dont go alone to meet them, and if possible meet in an area where there are lots of people around. I actually sold my item within a week or so. I priced it at about half the stores retail price. |
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 Bulls Eye
Posts: 6443
Location: Oklahoma | I sold my old engagement ring on Craigslist when I got divorced. I had all the paperwork with the serial number and met the person at a jewelry store and had the number of hte diamond verified. I got half what my ex paid for it. |
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  That's White "Man" to You
Posts: 5515
| I had to foreclose on a jewelry store a couple of years ago. It is tough to sell jewelry even if it is brand new. We averaged 50% of the jewelers cost. Most of it ended up selling for gold price. I would hit every jewelry store in town have them give you an offer and then sell it to the one that offered the most. |
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 Expert
Posts: 2457
| ESTATE BROKERS!!!!
I know of a couple around the San Antonio area that buy jewelry and higher end pieces. They have the clients that come directly to them for pieces ... they also have store fronts in which they sell quality items. |
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Veteran
Posts: 298
| I posted mine on a local FB swap with the appraisal information still didn't get near the appraisal but got WAY better then any pawn shops offered. Sold in a couple days. |
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 Scooters Savior
Location: "Si Fi" Ville | As a jeweler, I thought I might throw a few options out there that could result in a higher return on your diamond ring. Here are a few options to net the most money:
1. Get a written appraisal from a reputable jeweler, with everything broken down.
2. Look on BlueNile and compare the your appraisal to price of stone with same quality characteristics.
This will help you better determine a price for your jewelry.
3. List on Ebay with a reserve, no international sales, must pay with paypal. Item sent insured, registered.
4. Consign with a reputable jeweler. Consignment fees can range from 1/3 to 1/2 of agreed upon selling price.
5. Ever thought of trading it for something else? Sometimes this can be a good option.
If you need help or have questions, pm me and I will be glad to answer any questions.
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Folks on-line