Looking for advice on selling jewelry.....

[Allisonfaye]

Reselling jewelry is very difficult. Where are you located? If you are in the US, a company called Circa will buy it. It will be hard to get a jeweler to buy it and if they do, it will be a very low amount but I am guessing it would be more than a pawn shop.

 

[Elliespurse]

Just an idea but perhaps ask for evaluation at an auction house like this: http://jewelry.ha.com/

 

[hermes_lemming]

Reselling jewelry is very difficult. Where are you located? If you are in the US, a company called Circa will buy it. It will be hard to get a jeweler to buy it and if they do, it will be a very low amount but I am guessing it would be more than a pawn shop.

HI Allison, thanks - I'm in California. Yea I'm not sure what to do. To be quite honest, I'm a bit hesitant to mail it to complete stranger you KWIM? I was shocked to hear their prices (prior to my research) and was like wtf? That's less than what my exhubby paid 10 yrs ago! And he bought them at whole sale. Ugh.

 

[hermes_lemming]

Just an idea but perhaps ask for evaluation at an auction house like this: http://jewelry.ha.com/

Thank you, sweetie. I think this place might be more interested in my handbags and other jewelry. I know the center diamond of my engagement ring is worthwhile. When I had it appraised 11 yrs ago, they wanted to buy it on the spot and offered me retail. Hmm, decisions decisions.

 

[Allisonfaye]

HI Allison, thanks - I'm in California. Yea I'm not sure what to do. To be quite honest, I'm a bit hesitant to mail it to complete stranger you KWIM? I was shocked to hear their prices (prior to my research) and was like wtf? That's less than what my exhubby paid 10 yrs ago! And he bought them at whole sale. Ugh.

I think a lot of people get this shock. They think the jewelry will sell for at or near the appraised value. The jewelry industry cannot allow a resale market to exist, otherwise how would they make any $$? That's why when I hear anyone say jewelry is an investment, I just shake my head. And jewelers will tell this lie when they sell you the jewelry. I would at least check with Circa. I bet they have a safe method to mail it to them.

 

[ame]

Wholesalers don't sell outside the trade. So if he was not within the trade, he really didn't get them "wholesale." But jewelry is NOT an investment. Appraised value in the terms you are discussing are related to insurance replacement value, and not resale value and what you paid for it generally means nothing when it comes time to resell. Much like a car, diamonds kind of depreciate once you "pull out of the lot" which, while I agree is insane, is kind of the way it goes, since dealers can usually get brand new goods which they can confirm the history and provenance of for less than they're going to pay you for your preowned item, which they cannot confirm the history and provenance of. Unless you have something specific that is uncommon and really in demand, you're not going to get a lot.

You might get the most money by trying to sell your main stone separately from the setting, or try the company AllisonFaye mentioned. They might not offer you more than you were offered locally, but it's worth a shot. Worst they say is no thanks in which case you accept one of the other offers, which are pretty decent for pawn shops.

 

[NLVOEWITHLV]

There's a website called I do now I don't. I'm thinking of selling some of my old ones to them. Also some stores take foreign trade ins... Have you thought about that?

 

[hermes_lemming]

Wholesalers don't sell outside the trade. So if he was not within the trade, he really didn't get them "wholesale." But jewelry is NOT an investment. Appraised value in the terms you are discussing are related to insurance replacement value, and not resale value and what you paid for it generally means nothing when it comes time to resell. Much like a car, diamonds kind of depreciate once you "pull out of the lot" which, while I agree is insane, is kind of the way it goes, since dealers can usually get brand new goods which they can confirm the history and provenance of for less than they're going to pay you for your preowned item, which they cannot confirm the history and provenance of. Unless you have something specific that is uncommon and really in demand, you're not going to get a lot.

You might get the most money by trying to sell your main stone separately from the setting, or try the company AllisonFaye mentioned. They might not offer you more than you were offered locally, but it's worth a shot. Worst they say is no thanks in which case you accept one of the other offers, which are pretty decent for pawn shops.

Yea I think I'll try them. My experience with the shop was actually not great. Crazy coot thought I stole it!

There's a website called I do now I don't. I'm thinking of selling some of my old ones to them. Also some stores take foreign trade ins... Have you thought about that?

Oh my gf tried them. She said it doesn't work unless you have papers. Hers sat for months.

I think a lot of people get this shock. They think the jewelry will sell for at or near the appraised value. The jewelry industry cannot allow a resale market to exist, otherwise how would they make any $$? That's why when I hear anyone say jewelry is an investment, I just shake my head. And jewelers will tell this lie when they sell you the jewelry. I would at least check with Circa. I bet they have a safe method to mail it to them.

Thank you!

 

[beachy10]

Do you have to sell? What about resetting the diamond into something else?

 

[Chanel1965]

I have heard good things about the website idonowidont.com (I do now I don't) for resale of engagement wedding rings.

 

[jxwilliams]

I have consigned a couple of pieces with Jewels by Erica Grace and Grace was always very pleasant to work with. I believe there is a minimum consignment fee of $375?! I can't seem to cut and paste the hyperlink as I am on my iPad but google them and check out their website. Best of luck!

 

[anne1218]

If you're in ca and is around the OC area, there's this Asian garden mall and they buy it. There are plenty of jewelry shops inside that mall that will buy it. If you're diamond is GIA with cert you will get it at the currents wholesale price minus 10-20%. I've sold quite a few loose diamonds before.

 

[V.takemori]

I have got plenty of diamonds in the diamond district in NYC and then sold back or trade in ... Never with any problem.
My fiancé upgraded my diamond studs and I went back to sell my original and end up getting original price plus 20% more after 6 years...

So I guess if you are ever in NYC stop by a couple places....

 

[hermes_lemming]

Do you have to sell? What about resetting the diamond into something else?

Ideally I would have had it resent to a floating pendant but alas my funds or lack thereof don't allow that.

If you're in ca and is around the OC area, there's this Asian garden mall and they buy it. There are plenty of jewelry shops inside that mall that will buy it. If you're diamond is GIA with cert you will get it at the currents wholesale price minus 10-20%. I've sold quite a few loose diamonds before.

I don't live near here.

I have got plenty of diamonds in the diamond district in NYC and then sold back or trade in ... Never with any problem.
My fiancé upgraded my diamond studs and I went back to sell my original and end up getting original price plus 20% more after 6 years...

So I guess if you are ever in NYC stop by a couple places....

I wish that could be the case. Even my friends were shocked how little I'm getting. I just got off the phone w/ another pawnshop and will see them tomorrow. This whole process is very disheartening I have to say. 11 yrs and I'm lucky to recoup 70% of what was paid for it (and that was at a fat discount).

I have consigned a couple of pieces with Jewels by Erica Grace and Grace was always very pleasant to work with. I believe there is a minimum consignment fee of $375?! I can't seem to cut and paste the hyperlink as I am on my iPad but google them and check out their website. Best of luck!

I found them and saw that they increased their percentages.

I have heard good things about the website idonowidont.com (I do now I don't) for resale of engagement wedding rings.

Yea my friend's ring sat forever. She didn't have a certificate though.

 

[ame]

I know this is disheartening, but your offers are not out of line for secondhand goods. Even with your paperwork, this ring is 11+ years old, and they don't know it's provenance. Dealers and jewelers don't often want to get tangled up with that, but what you paid for it means nothing to them, and is of little importance when resale value is at play. They don't want to gamble on something they might not be able to move later.

You will likely get more, like I said above, if you have your stone removed from the setting and try to sell it separately. You are NOT going to get what you paid, that's just unreasonable.