Shopping Discussion

Where Can I Sell A Diamond Ring?

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  • May 13th, 2014 12:51 pm
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Deal Guru
Mar 14, 2005
13811 posts
2516 upvotes
psyko514 wrote: I'd imagine that most women would be pretty upset if they found out their engagement ring was a leftover from a failed relationship.
... Kate Middleton's engagement ring!
Deal Guru
Mar 14, 2005
13811 posts
2516 upvotes
Izzoshady wrote: I'll look into that.

Anyways I feel like I'm getting into a debate with you about something I had nothing to do with. As I stated earlier, I am trying to help my brother out with the best possible options he has presently. I appreciate your input.

The ring was appraised by Per Ek Kao Graduate Gemologist (G.I.A.) of the Canadian Gemological Services. The certificate has multiple seals (not sure if that means anything and their location is 215 Victoria Street Suite 206 Toronto Ontario.
Check out the comments in this link: http://www.diamondring.com/forums/showt ... hp?t=92325

"yes I heard of this "lab" [Canadian Gemological Services]. I bought a "ring" from them on Ebay Canada...The ring was "appraised" for 1800. And I took the ring to a gemologist in the city and he said it was junk. The only thing correct on the appraisal was the weight...."
Member
Mar 9, 2014
457 posts
216 upvotes
isajoo wrote: I'd suggest going back to the jeweler and ask for a refund or store credit, then put that money towards a gold Rolex.
LOL
Even though there's an 'LOL' at the end of this, it really is your best bet to get the full value back-- bring it back for a store credit. If anything, he can buy a new ring down the road for someone else, or yep-buy a new watch for himself, or buy birthday/Christmas gifts.

I dunno why people think diamonds are an investment. They are sparkly and fabulous, but never ever retain their value, plus the market is flooded with them. The appraisal seems wayyyyyy too high for that ring. 'Good' cut SI2 stones are really not good at all, and a diamonds cut is truly the most important of the 4 C's.
Deal Addict
Oct 11, 2005
1868 posts
174 upvotes
Southern ontario
diamonds are a dime a dozen for the ones he is trying to get rid of. THe better ones are worth a lot more.

Who did he get it appraised from?
Sr. Member
User avatar
May 21, 2013
833 posts
377 upvotes
Montreal
I'm curious to see what this ring looks like.
Newbie
Dec 5, 2012
29 posts
8 upvotes
Toronto
No one here is aware of the Da Beers diamond scam that has been going on for almost a century?
Deal Addict
Jun 28, 2006
2188 posts
509 upvotes
greg123 wrote: 20K is too much are you joking? step into a Tiffany store lately?

if a girl expects a ring that cost less than $5000, she is clearly not the one for me.

Your goal is not a one night stand, your asking someone to spend the rest of their life with you.
really bud? lol sucks to be you then.

If a girl wants a ring that costs less than $5000 you take it and run. Its obviously up to you to determine what her motives are. In my case, she doesn't want a big ring, she wants a big house instead and for that reason I am going to marry her.
Deal Addict
Sep 6, 2009
2182 posts
209 upvotes
I present a fourth option. Insure the ring for the $23000 replacement value then a year later someone u know steals it. :D
Brand NEW FUJIFILM F900EXR FOR SALE ASKING $225
Deal Addict
User avatar
Dec 15, 2004
2476 posts
251 upvotes
North York
nagasadow wrote: I present a fourth option. Insure the ring for the $23000 replacement value then a year later someone u know steals it. :D
He'll still only get <1/3 of the replacement value.
Sent from my Samsung Galaxy Google Nexus via Mobilicity $25 BTS unlimited talk/text/data

:lol: $5,000.00 CASH < 2 Minutes :lol:
:lol: McD's
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Deal Addict
Sep 9, 2010
4863 posts
3538 upvotes
Burnaby
OP, have you tried asking in pricescope forums? www.pricescope.com

You could get better answers there.

BTW, you'll be lucky if you recover 1/3 of what you "invested" on that diamond ring. That's how this industry works (though the ring and its diamond will be recycled to be sold to another happy couple at full bnib "retail" value after a cleaning and resetting.) ;)
Deal Fanatic
Jul 7, 2004
6948 posts
2695 upvotes
Diamonds are worst thing in the world to buy. Be happy if you can get $5,000 for it.
People need to wake up and stop buying this crap just because society brainwashed you into thinking you have to.
Diamonds aren't rare, so why do you people pay prices like they are some rare stone?
greg123 wrote: 20K is too much are you joking? step into a Tiffany store lately?

if a girl expects a ring that cost less than $5000, she is clearly not the one for me.

Your goal is not a one night stand, your asking someone to spend the rest of their life with you.
Yeah but not all of us have to buy our wives.
Deal Addict
User avatar
Jul 5, 2003
1118 posts
43 upvotes
I hate to say it but your brother really overpaid for the band especially with only good cut and SI2 diamonds. You can get it far cheaper at retail brand new from a store.
Deal Addict
Dec 15, 2013
1218 posts
601 upvotes
North of Toronto
greg123 wrote: 20K is too much are you joking? step into a Tiffany store lately?

if a girl expects a ring that cost less than $5000, she is clearly not the one for me.

Your goal is not a one night stand, your asking someone to spend the rest of their life with you.
Costco has some pretty nice rings. Rather buy from them over a Tiffany store at a 1/3 of the cost.

Also, if a girl gets mad for a ring that costs less than $5000. I would kick her ***** to the curb. If you think a ring defines the type of relationship and love that you will have. You are nuts. Money/material/objects aint everything bro.

Good luck op!
Deal Addict
Sep 9, 2010
4863 posts
3538 upvotes
Burnaby
This guy is a jewelry/gemstone seller trading through RFD and here is his answer to your post.
thediamondshopper wrote: From what I gather from this story this is a very unfortunate situation and Im sorry to hear that things didn’t work out for the poster. The most important element here is who appraised the diamonds as an accurate grading is what will determine the value of this ring. If we assume that the diamonds are what they say they are (F-H SI2, good cut) and that GIA or AGS would give them a similar grade they would retail for roughly $600-650 each, approximately $10,000 worth of diamonds, with the ring and the labour and taxes if again everything is what it is suppose to be the ring would have been worth about $13-14000 at retail, which going by the value most appraisers assign (approximately double) would make sense.

The big assumption here is that the diamonds are what they are described to be, for Izzoshady to get a fair idea of what the ring is actually worth, my first suggestion would be for him to get a fair and unbiased appraisal, if he would like to post what his location is I would be happy to suggest some one. I am guessing because of how the color is described (F-H) that these are not GIA graded diamonds so immediately the value falls to roughly to about $9-$11000 as having a GIA certificate holds quite a bit of value as there are cost associated with getting the diamond to them and having them graded, as well as the industry trust in their grading. If the diamonds were inaccurately graded, which is very possible if they were not graded by a major lab, they could very well be be H-I I1's which are worth about half of what a GIA graded G SI2 would be worth. If that were the case the ring could be worth $5-6000 as a fair retail price. If this were the case a $3000 offer from a pawn shop wouldn’t be all that unreasonable especially if they would have to either sit on the ring for a long time or sell it for scrap.

My best advice would be first to get an independent appraisal of the ring from a trusted well qualified source. Based on the results of the appraisal I would start with the store that the ring was bought from in hopes of explaining the situation and seeing if they will buy the ring back at a reasonable price. They profited from the initial sale so if anyone would be willing to buy the ring at a price somewhat close to what was paid, it would be them. Having an independent appraisal may help especially if there is a dramatic difference between the grading. Aside from that Izzoshaddy, is in a tough spot as good cut diamonds are tough sellers these days as compared to excellent and ideal cuts. If someone in the trade were to buy the diamonds they would be willing to pay less than what they could buy them for on the open market as they would have to hold them in inventory so even if they were fairly graded SI2 F-H good cuts, I really wouldn’t see any one paying more than around $400 per stone with a GIA cert and buying the gold at scrap price. This being said the second alternative once they have a reputable appraisal would be to list the ring on sites like kijiji, craigslist ect and try to sell the ring to another consumer who will undoubtedly pay more than a pawn shop or diamond dealer.

Of course keep in mind I haven’t seen the diamonds so I am just guessing as to the values of them based on mid range diamonds on the market with similar specs, the diamonds in the ring could be exemplary SI2’s and worth a bit more so please take my values with a grain of salt.

What I wold like to suggest for everyone buying diamonds is to try to stick to diamonds that have been graded by major grading laboratories, and when they aren’t seek a second opinion from an “Independent” appraiser, some one who does just appraisals and does not sell jewelry. Make sure to explain that you are considering buying the piece of jewelry and that you would like to know the fair market value.
Deal Addict
Nov 30, 2006
2385 posts
274 upvotes
aviador wrote: This guy is a jewelry/gemstone seller trading through RFD and here is his answer to your post.
Thanks so much. To you and everyone else. My brother is weighing his options at the moment. I'll keep everyone posted as to what he decides. From what I understand, he'll put it up on a few sites to see what the offers are and if no luck there he'll try to broker a deal with the shop he bought the ring from.
Deal Addict
User avatar
Jul 5, 2003
1118 posts
43 upvotes
I think going back to the shop would be a good start. Head to pricescope and get more help but you won't hear much more than what is already shared.

There are two classifieds sites that jewelry people frequent - PM me and I can get you the links.
Penalty Box
User avatar
Oct 19, 2012
3359 posts
421 upvotes
Toronto
Go back to the jewellery store that sold it to you and resell it to them, if they offer you $5,000 throw it in their faces and scold them for having sell it to you so expensive, you can also open a fraud charge against them.

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