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How Much Can I Expect To Sell This To A Jeweler For?


pat44
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1 stone engagement ring I have pretty standard

 

.80 ct round ideal cut Clarity SI1 Color I

Also 14k gold

gross weight 7.450 grams

Have GIA certificate

 

Obviously not looking for specific price just a ballpark range. I bought it for $3500 at a retail jeweler.

 

I no I will get less than 50 % what I bought for it thats just the business. Hope I can atleast get $1000

 

thanks in advance.

Edited by pat44
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People don’t generally like to buy ‘used’ engagement rings for symbolic reasons but it does happen. This also has a component of style and even your own selling skills. Yellow gold, for example, is selling very poorly right now. It’s not that the pieces are any less lovely now than they were when they were new but stores want to fill their cases with things that people are buying NOW. Obviously there’s not enough information in your post to answer this but I’m going to assume that the mounting is worth basically the scrap value of the gold. That’s not a function of what you paid, it’s a function of the commodities market. Currently 14k scrap around here (Denver) is going for about $21/gram. You may get a little more or a little less than that elsewhere but this makes the gold component about $250.

GIA certified ‘ideal’ cut diamonds are usually pretty saleable and 0.80 is a pretty good size. Look up in the database here for dealers selling something comparable. That’s your competition. Expect a dealer to be paying about half of what you’re seeing. As with the above, what you paid has nothing to do with it. Pick something ‘typical’ to use as comps. Your $1000 goal shouldn’t be hard and you may be closer to $2000. That said, how much they’ll pay is up to them. They get to make a bid and you get to decline it if you don’t like it. That includes elements like how much money they have, how much inventory they have and even how hard a deal they think you’ll take. These aren’t your problem and they aren’t about the diamond but they play a role in the bid. By all means ask around for bids but don’t let them buffalo you.

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