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Want To Sell Old Mine Roval 2.5


suen
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I consulted a gemologist about 4 years ago about a ring I own. It is an old mine cut roval (not oval or round) stone clear beautiful. I would like to sell the ring. Today I am going to revisit the gemologist and get an updated opinion of value. If anyone is interested I can post pictures and more information. I know the history of the diamond and where it has been for more than the last 100 years. 

Edited by suen
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Make sure your appraiser understands the question you're asking.  'How much is this worth?" can have quite a few different answers that are not easily convertible.  The usual question has to do with insurance.  How much would it be reasonably expected to cost to replace this item with another of like kind and quality in the case of a loss?  Normally that involves custom making the replacement using US labor for example.  That's a reasonable enough question, but it's NOT the one you're asking.  You want to know what is a reasonable asking price, or what would be reasonable bids for you to accept, in order to sell it in some market you have access to.  Normally that means sales to a dealer, consignment through a dealer, craigslist, ebay, friend-to-friend and so on. Tiny details matter a lot.  

 

Overall, these things are a harder than most people expect to sell and you may also want to consult with your appraiser about what markets are available, what sorts of repairs and lab work might help it sell better and so on.   

Edited by denverappraiser
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I consulted a gemologist about 4 years ago about a ring I own. It is an old mine cut roval (not oval or round) stone clear beautiful. I would like to sell the ring. Today I am going to revisit the gemologist and get an updated opinion of value. If anyone is interested I can post pictures and more information. I know the history of the diamond and where it has been for more than the last 100 years. 

 

Sounds gorgeous!! Do you have any pictures?? 

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I can upload some pictures. I sent the ring to Texas to have it appraised. It is not old mine, but European cut. They set the weight at 1.61 to 1.68 and told that without removing it from the setting they could not give me  true weight. As to value their original figure was much higher than their final amount. I sent it to Worthy. Do you do anything about them? I will take some pictures tomorrow and upload them if you would like. It is a beautiful stone reset about 6 years ago in yellow gold. I am considering having in set in an Edwardian setting if i decide to keep it. 

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I’ve never heard of these people but their site is a pretty straightforward specialty auction house.  Although nothing is the best for every situation, that’s a tried an proven way to sell things.  Their commission looks to be 15-20%ish depending on the hammer price, which is cheap as auction houses go.  One of the advantages of auction is that it has a closing date.  Unusual things can often sell slowly with consignment retailers and if time pressure is an issue, it’s handy to have a schedule that will wrap it up.  The quasi-public nature of the sales also tends to keep the serious bottom feeders away.  At the same time, this is a sub-wholesale market, less a 20% commission, so I wouldn't expect it to be top dollar in terms of pricing.  

 

One of the common complaints with auction has to do with what happens if the deal doesn’t make reserve.  Again, I have no experience with these guys and it doesn’t say on their site (or at least I couldn’t find it).  There’s usually a fee here, and often it’s pretty big if you want to take your stuff and go home.  Make sure you understand the terms and conditions  if you’re using this to decide if you want to sell or keep it depending on the amount of the bids.

 

Let us know how it goes.   At least from what I see on their site, this looks like a reasonable enough place.  When is your auction?

Edited by denverappraiser
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