Seling Diamonds Via Consignment.

[russell60 0]

I have a 2.01 carat, D, VVS1 emerald cut, very good polish, good symmetry, fluorescence- none. GIA graded. I need money and would like to sell the diamond. Can anyone offer me an idea of what I might expect to get if I were to sell it by consignment? Can anyone recommend a jeweler in the Boston area willing to help. I've made several calls to no avail. thanks russell

[davidelevi 598]

Not quite Boston, but you may want to try Nelson Rarities in Portland, ME, as a good consignor.

 

Emerald cuts are not particularly popular at the moment, and that may be a reason for the lack of interest. Also, the resale/consignment value of your stone will depend on how well it's cut, and that must be evaluated by seeing it. Not to mention that VVS1 clarity is easily lost through minute chips or scratches.

 

You can use the Diamond Finder to find retail prices for comparable diamonds - consignment commissions will vary from 20 to 50% of that, depending on the retailer and the value of the stone.

 

Best of luck!

[LaurieH 12]

Hi Russell,

 

Welcome to the forum. I have gone ahead and moved this thread to the correct category.

 

So, it looks like a diamond like you've got up for sale goes for about 20-28k NEW, just plugging the basic specs into the Diamond Finder tool at the top of the page. That gives you a good idea of what the current retail is, at least for a ballpark price. The problem is, the secondary market won't command the same price as a brand new diamond from a store, esp if it's been set, etc. The good news is, you've got a great diamond, great size, great Color, great Clarity. The bad news is, that's a big diamond with a pretty big pricetag, which means you've got a smaller potential market.

 

I unfortunately do not have any recommendations for places in Boston that could help you, but sometimes you can find a jeweler who will buy the stone from you outright. Certainly for less than they're going to sell it for, but it would hopefully give you a good chunk of cash in hand. I would be VERY VERY VERY (have I mentioned VERY) careful trying to sell it online on something like craigslist. I know it happens, but I also know there's plenty of scammers out there who would be happy to send you a huge money order for you to cash and send them the difference. Or wire you the money, be sure to send it ontime as soon as receive the notice. Yeah...not so much. You can always take the ebay route, but then there's the commission they take...but you might be able to set your own price and still come out ahead of where you might selling it "used".

 

Either way, good luck and let us know how things work out for you!

[russell60 0]

Thank you for responding to my question. The information you provided was helpful.

 

 

 

 

Not quite Boston, but you may want to try Nelson Rarities in Portland, ME, as a good consignor.

 

Emerald cuts are not particularly popular at the moment, and that may be a reason for the lack of interest. Also, the resale/consignment value of your stone will depend on how well it's cut, and that must be evaluated by seeing it. Not to mention that VVS1 clarity is easily lost through minute chips or scratches.

 

You can use the Diamond Finder to find retail prices for comparable diamonds - consignment commissions will vary from 20 to 50% of that, depending on the retailer and the value of the stone.

 

Best of luck!

[russell60 0]

Thank you Laurie for responding. You have given me food for thought. I may try the eBay thing. I will post my experience. I'm sure I'm not the only one trying to sell these days. Thanks Again Russell

 

 

 

Hi Russell,

 

Welcome to the forum. I have gone ahead and moved this thread to the correct category.

 

So, it looks like a diamond like you've got up for sale goes for about 20-28k NEW, just plugging the basic specs into the Diamond Finder tool at the top of the page. That gives you a good idea of what the current retail is, at least for a ballpark price. The problem is, the secondary market won't command the same price as a brand new diamond from a store, esp if it's been set, etc. The good news is, you've got a great diamond, great size, great Color, great Clarity. The bad news is, that's a big diamond with a pretty big pricetag, which means you've got a smaller potential market.

 

I unfortunately do not have any recommendations for places in Boston that could help you, but sometimes you can find a jeweler who will buy the stone from you outright. Certainly for less than they're going to sell it for, but it would hopefully give you a good chunk of cash in hand. I would be VERY VERY VERY (have I mentioned VERY) careful trying to sell it online on something like craigslist. I know it happens, but I also know there's plenty of scammers out there who would be happy to send you a huge money order for you to cash and send them the difference. Or wire you the money, be sure to send it ontime as soon as receive the notice. Yeah...not so much. You can always take the ebay route, but then there's the commission they take...but you might be able to set your own price and still come out ahead of where you might selling it "used".

 

Either way, good luck and let us know how things work out for you!

[torishea 0]

I recommend you call Andrew & Peter Fabrikant in NYC. I know you are in Boston but they offered insured shipping out of state. I live in NJ and it turned out to be quite an easy experience!

[denverappraiser 491]

Start with an appraisal. This is EXACTLY the sort of question a capable appraiser is being hired to answer and free advice from strangers is often worth less than it costs. The problem is both in setting your price and choosing a marketing strategy. Jeff Averbook is a good appraiser in Boston who should be able to guide you.

 

www.metrojewelryappraisers.com

[LaurieH 12]

Thanks for chiming in with your experience, torishea. People often come here looking for information like that from consumers.

 

That said, please everyone note that the original post was from February, and that the OP has not been back recently, so they are likely not keeping an eye on this. I do hope they'll come back and update us, though!