Advice on selling diamond ring

[Diamondring]

I have a diamond ring which I believe to be very valuable, however a local jeweller offered me less than half what I expected, is that normal or is there a better place where I could try to sell it?

very normal, they need to make a profit.

I appreciate that, and I know I'm probably naive, but it seems a lot of profit for not doing very much at all?

well they don't know whether they'll sell it and unless its antique buyers will expect a discount for second hand,

It's a really valuable diamond so I wouldn't think it would be too hard to sell for a jeweller?

Depends why you believe it to be the value that you expected, you could have just been mistaken.

It is very normal to get significantly less than retail value if you sell to a jewellers shop, they have to pay all their overheads etc, they might not technically 'do' anything in your transaction but they have done a lot to establish their business.

Always worth going to a few different shops for opinions?

Diamonds usually lose value over time while gold/silver gain value. Don't think this is the answer you are hoping for but it's just a fact.

Diamonds are worth very little on the second hand market. I was offered £60 for earrings (two quarter carat diamonds of perfect quality that cost £1200 19 years ago)

I didn't realise that about losing value, why would that be the case though?

On online calculators the price for a diamond of this quality is quoted as three times at least what the jeweller said.

What do you mean by 'really valuable diamond'?
Is it an antique, hard to find cut? Exquisite clarity?

Unfortunately retail prices are far higher than an items true value when it comes to jewellery.
This usually becomes obvious when you get it valued for insurance if you get like for like.

Get a few quotes. Remember that if your item is not particularly interesting/resellable then you are selling it for a scrap price as they'll just dismantle it and use the materials separately.

Some jewellers will allow you to put your ring in their window for sale based on commission. So you dictate the price and if it sells then they take a cut.

Diamonds don't really 'lose' value. It's that they're not worth what your paying in the first instance.

They're not particularly rare, the pricing is artificial due to ongoing trends. (Since the diamonds are forever debeers campaign.)

It's 2.45 carat internally flawless G colour brilliant cut, set in white gold. 50 years old but a very classic shape ring

It's a decent stone but quite common cut/clarity etc ( I mean common as in plentiful not in the other way!!)

Do you need to sell it? It would probably be better value to have the ring remodelled to your taste.

Why does it come up on sites as being worth so much then?

I would take it into several places. A pawnbroker type will give the worst, in my experience. Try your local independent family/town/high street jeweller.

What sites are you looking at? If you are looking at sites to buy a similar diamond then it will be retail pricing which is anything upwards of 2/3 of the actual value.

DiamondRing - have you taken it to an auctioneer to be valued? They often end up achieving much higher prices at auctions than jewellers offer as they have dealers and private buyers bidding even after you pay commissions. Out of curiosity what did the jewellers offer? An auction estimate should be in excess of £4000

isn't the value you are placing on it the insurance/replacement value. That will always be way more than you could sell it for.

I have a £10k piece of jewelery - been told I would be lucky to get £1.5K for it if I sell it.

Depends what kind of policy that you have newyear.

If its like for like and it's an antique piece it could be a fortune.
But if its' replacement to the value of' then you are really beholden to the current metal prices.

So what would you guys think I could hope for?

Well, not having seen the ring it's like asking how long a piece of string is.

Also it will depend on individual shop's policies. Whether its an item that they feel they can resell or not. If its a resell it can command a higher price because they don't need to do anything with it.

Get at least 3 quotes and compare them.

Do you think finding a shop in London would make a difference?

And sorry if I sound stupid, but don't the parameters below tell you about its worth?

Not really. Sometimes a diamond will just look nicer than another within a similar parameter.

It's like haircuts. You can get the same haircut anywhere but there's always going to be differences.

Doesn't really make a difference where in the country you are, if London is handy then give it a go.
Stick to independents. No chain stores.

You might strike lucky and have just the exact stone that a jeweller is looking for on a current project.

Is there any other way of selling it other than jeweller or auction?

I am still getting over the shock of it being quite ordinary!