Where to sell Diamond Ring?

Hi all.

We've been gifted a diamond ring worth about $5k retail. It was given to us by a relative with the intention to sell it and spend the cash on our renovations.

Cash Converters is the obvious choice, but I was wondering if anyone could recommend another option in order to maximise our return!?

Thanks for your suggestions!

 

Gumbytree?

 

Ebay - fixed price not auction.

 

Sell it right here on PC! Why not? All we need are the 5 cs and an opening bid. I'm sure SH won't mind.

 

Cash converters will give you about $50 for your $5k ring. I'd take it to a licenced valuer for a proper appraisal and ask them the best place to try and sell it.

 

Post a pic - you never know

 

If it's a single stone then first have it valued and see if it's 18carat the last time i looked it's around $37.00 per gram,most rings will have around 3-5 grams...Then it comes back to the stone sitting on the gold as most pawn brokers money lenders will only buy on per gram scrap value so stay right away from them..
A mate of mine buy scrap gold rings at the police seized auctions australia wide most with written valuations some with values above 5-9 k and when standing next to him at the auctions he would pay around 1 K for some valued in the 5 k range..

But he sells those ring as it a very good business model on gumtree or ebay with the written valuation for about 25% less then the valuation that may be the only way...imho..

 

Do you have any info on the diamond, not sure whether certificate would apply in this range?

Unfortunately onselling jewellery is generally significantly discounted from what I have seen. It would help if you had a valuation

I would go gumtree

 

I just bought a diamond for my fiancé and omg... that industry is a minefield!!

Best thing to do would be to get a reputable valuer to grade it and supply a certificate. Most people looking to buy diamonds want to see a certificate stating weight, colour, cut, clarity etc...
you could ask the valuer what price to ask for it, and you can also check comparibles online.

Lastly, the valuations I've seen are way highballing to say the least. Ask for a 'sale' price. The standard 'retail valuation' can be thousands above its real value.

 

I would probably goto a jeweller and try to sell on consignment, if you must sell. realistically you will be very disappointed with the price no matter what.
Maybe just better off wearing it or giving as a gift or something. The value in such things is mostly of the ownership and not anything else.

 

You need a GIA certificate to work out the diamond, this is reputable cert. Be very wary of european certs they are dodgy Or retail stores thst provide their own certs..... not a good way to go

Also another way is do not buy retail buy from a gemologist, buy loose stone and set, save a fortune, make sure it comes with gia cert

Dont let the BS get in the way, its understandIng dimension measurement of diamond the cut, most important factor, must be three x (excellent). Once you get this you will be able to select a good stone

i have a degree in buying diamonds. Its my passion, I sm a collector

 

Is 5k the Australian retail price? If so, the real price is about 1.5k so you'd probably get a few hundred max for it. Maybe try Ebay? The second-hand market for jewellery is pretty limited unless it is something very special or unique.

Unfortunately, like many other things, diamond jewellery in Australia is very overpriced compared to most other places so there is going to be a big gap between the price you paid and what it'll sell for.

 

Its not only over priced its easy to get ripped off and buy inferior diamond

However, never ever buy on line, do not get tempted to do this

Most retailers will recommend what ever they have in stock, what they are flogging off, that is the problem.

Anyone buying diamonds should research and Start with gia certs and work though it, fascinsting stuff

 

Depends on the website you get it from. There are some very reliable retailers that sell online and sell good quality diamonds. You just need to do your research

 

I understand this, but personally I would need to see the sparkle on my finger

There are other elements to consider like fluorecents that can significantly reduce price but you need to physically view the ring.

I have a couple of ways to reduce end value but still end up with a magnificent diamond, but need to physically see the diamond and in different lights

Also I can not stress the importance of the dimensions of the cut of the diamond. Research and you will get it, this is what gives the sparkle.

 

True

 

I'm with Wylie - unless they are unique or antique, you will be lucky to get much for the ring.

That is why I buy my diamonds and gold from pawnbrokers rather than retailers - even getting something remade costs me about half and it's then personal.

Sadly, most people think they're worth what they paid retail and get highly disappointed when they're not. Wear the ring, enjoy it and keep it as an heirloom

 

Maybe you could give it to someone who is going to propose to their partner that can't afford a ring.

 

So I took the ring into Cash Converters today for an opinion. They offered me $250. The general consensus is that whilst it's 18k gold and about 1ct of Diamonds, it's an old style cut and design so the market of buyers will be limited.

It's not something that holds any sentimental value, it's ugly, and I'm not a lady so there's no reason for us to hold on to it.

Might get a proper valuation done and see if it will sell on Gumtree for a little more than $250. Insured value was supposedly 5-7k.