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.55 Ct Princess Cut


raymond2688
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hello everyone

new to the forumn new to diamonds.

I am a gun dealer by trade and in todays economy anything can walk in the door. i had a customer

bring in a .55 ct princess cut engagment ring in a platnum setting, along with a wedding band and a small diamond ring. i took it to the jewelry store to have them tell me that the paper work with it was the same diamond and ensure all was real. everything checked out.

the paperwork is from EGL USA and states the following:

 

measurements 4.91x4.39x3.15mm

shape/ cut princess

weight .55ct

clarity VS2

color I

estimated retail 2800.00

 

what can i expect to get for this ring i dont expect to break the bank or do alot of work to move it.

i know the retail game, but i dont want it stolen from me just a fair prices for me and the buyer

thanks in advance

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It depends on the grading of the stone, the styling on the ring and your selling skills. I gather you don't have a jewelry section in the gun shop so I doubt you'll get full price. Use the 'diamond finder' utility at the top of the page to see what similarly claimed EGL princess cuts go for from the dealers who advertise here. Private party sales tend to get about half to 2/3 of those prices plus a little bit for the gold.

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Selling diamond rings is not easy. This one will be harder than most because of the princess cut, the EGL grading, and the smallish size. That's why your seller traded it for an $1100 gun. You mentioned 2 more rings and that might help but it's likely they have the same problem.

 

Jewelers are usually happy to give a bid quickly and free. Just ask. I would be a little surprised if it's over $500 plus the gold but it's highly dependent on the REAL grading of the stone. EGL is not reliable data.

 

Ebay has as much to do with YOU as the merchandise. If you don't have experience at writing good ads and you don't have a decent feeback score with high value items, it's problematic.

 

Half to 3/4 of what comps cost online is a good thumbnail if you retail it, meaning you do the work to sell it to a consumer. Dealers are a little less. Onine comps seem to be about $1000.

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Here's the query page on the Diamond Finder

 

http://www.diamondreview.com/diamonds/?qShape=Prin&qCaratLo=0.5&qCaratHi=0.6&qColorLo=I&qColorHi=I&qClarityLo=6&qClarityHi=6&qEGL=1&pg=&qSort=Price&qSortDesc=1

 

More or less you should get back your retail price, assuming the other two rings are of platinum or 18kt gold, but it's going to make you work for it.

 

I must say that I have heard of people selling their jewellery before, but selling the engagement/wedding set to buy a gun sounds vaguely ominous. Like "I'm having an old friend for dinner".

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lol...i know it was a first for me. and deffinetly a lesson learned. I had no idea that it would be this difficult to flip this stuff for 1/2 the apraised value. I did go to my local jewelry store after the fact and what they offered me for the whole lot was in my mind a insult....310.00 that was all three rings. thats what led me to all my research and this site. thanks for all the info i will find something to do with them.

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$310 sounds pretty low but there may be more going on than what you or I know. Again, it depends on that grading. Your 'appraisal' is useless. That said, assuming your rings are 14k and average about 3-5 grams apiece (total guesswork here but that's fairly typical for ladies rings), that's going to be something like $250 worth of GOLD in the deal. Platinum and 18k go up from there.

 

I actually have a friend who makes a decent living selling jewelry at gun shows. The big buyers for guns seem to be men and they have their wives in tow when they go to the show. Testosterone is flowing. It's easy to drop $1000 on yet ANOTHER gun and it makes the wife fell like the deserves another diamond. I think it's an American thing.

 

 

My advice. You probably overpaid but such is life. I guess it depends on what you had into the gun in the first place but you're not way upside down. I would take the stone out of the seting (have a pro do it so that you don't damage it), scrap the gold at one of those gold buying places. Then take the diamond unmounted along with that EGL report to your next gun show and see if you can trade it for something you really want. Try to get $700 out of it and see where the negotiation goes. Around here, scrap gold is going for about $21-22/gram at the moment. A few other markets are a little higher and a lot are a bit lower. Where are you?

Edited by denverappraiser
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im in delaware. im not upside down on the gun either way, i got it in a lot the average price on the lot was 300. the problem is the gun i traded for was one that anyone would buy and pay good money for, not one of those guns that sit around.

 

I think i will have the stones removed and hold on to them and scrap the gold. maybe i will have a pendant made for my girlfriend.....that should make her happy

 

thanks for all the help

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Sounds good. Happy girl friends are important. You might want to design a better story abut where you got it. "I swapped a perfectly good gun for some scrap metal and this stone came as part of the deal." doesn't have that romantic feel that women normally want.

 

Little side stones are often worth less than the cost of the labor to get them out. Whoever is doing the work should be able to advise you on what's worth the trouble and what's not.

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