Has anyone ever sold a diamond?

[wodom1]

So, my fiance and I broke up a little over two months ago and I need to get rid of the ring. I got it back since the split was amicable, but I'd like to sell it to try to recoup some of the costs. Everything I've read online leads me to believe I'm going to take a huge hit on trying to sell it. It's not a big diamond, only 5/8 carat, but it was damn expensive. Any of you guys/ladies have any experience in trying to move diamonds? I purchased it through USAA (fantastic outfit that military guys will know about) and tried to see if they would take it back, but it's been too long since I purchased it and they will only take it back if I'm upgrading. For now I've got this rock, which is essentially only worth 40% of what I paid hanging out in my apartment. I have no desire whatsoever to keep it. Anyone interested in a high quality diamond?

Josh

[danger boy]

hmmm? you may want to take your diamond ring to a trusted high end jewler and see if they'll buy if from you. i wouldn't trust anyone else with a rock like that.

[tonyb]

Have stolen a few in my day but never re-sold.Do as danger boy says or you can try and trade it for something of interest to you.Consider yourself lucky that you even got it back.Or hold on to it and trade up when the right girl comes along.You need to get out of that downtown bar scene my man if you want a nice girl to marry.

[janmike]

Like the guys said, have a qualified expert do an appraisal. While the size may be small, the quality opf the diamond is critical. Commonly referred to as the 4 C's (Color, Clarity, Cut and Carat). Have it appraised and then determine to keep it for future upgrade or dump it. 40% of original value. Hmmmmmm.

[BaggedLancer]

Save it and give it to the next fiance......she'll never know :D

[Rivrrat]

The problem with consumer diamond jewlery is it's nothing more than an emotional purchase, it's worthless as an investment. I'm thinking 40-50% of the origional purchase is about right.

I'd look at e-bay or Craigslist, but you're still up against people that are looking to pay pennies on the dollar.

Oh and I've been there, been there done that, and sorry for the way things worked out. Fortunately for me the jewlery store took the ring back.

[beardog03]

Josh,

I`m with janmike and rivrrat..

I have dealt with a few carats in my day, and just like vehicles, once you take posession and leave the lot, you loose money..

Have it appraised first, then take it to a jewler that will put in on consignment...

Or take the hit and sell it to any jewler that will buy...
....or e-bay/craigslist

[dkg999]

40% to 50% of value? I had an unfortunate one of these things happen in the early 90's and about 20% of appraised value is all I could get jewelers or private buyers to go. I have my spare diamonds in a safe and they will go to make something for my daughters at some point. Good luck and hope it all works out for you!

[Bill Ayotte]

I went through the same thing a couple months back.....She liked the bottle more than me i guess. Luckily for me, Tiffany's was more than happy to take it back at a small loss to me. At least I got something back besides a pain in the ass. What a way to come home. I'm not bitter though. :rolleyes:

[BaggedLancer]

Insure it. "Lose" it. Claim it. Sell it.


Wait a minute, that's fraud. Don't do that.

[danger boy]

have the diamond taken out.. have it split into two... and have diamond earrings made for your mom.. mother's day isn't that far away you know.. she'll love em. :)

[PolkWannabie]

Appraised value is usually for the benefit of insurance claims and high enough relative to real value that no one would pay that price.

For a variety of reasons it's best to buy diamonds at an exchange where one is likely to pay much closer to wholesales then retail value and then have the stone(s) set ...

[janmike]

have the diamond taken out.. have it split into two... and have diamond earrings made for your mom.. mother's day isn't that far away you know.. she'll love em. :)
I second that. Great idea.

[snow]

Everything I've read online leads me to believe I'm going to take a huge hit on trying to sell it. It's not a big diamond, only 5/8 carat, but it was damn expensive. Any of you guys/ladies have any experience in trying to move diamonds? I purchased it through USAA (fantastic outfit that military guys will know about) and tried to see if they would take it back, but it's been too long since I purchased it and they will only take it back if I'm upgrading.

Josh First sorry to hear the bad news regarding the fiancee. And yes i have extensive knowledge regarding Jewelry. I bought sold and repaired Jewelry for many years. And usally trying to resell a engagment ring is very hard to do and recoup a decent percentage of your money. Jewelers if they are interested at all want to buy it for less than wholesale because they buy at wholesale prices from suppliers allready. So to be a good deal for them it has to be less than that. If USAA has a trade in upgrade policy it may actually be to your advantage to do that. Trade it in for one that is a little pricier, then return that one before the 30 day or whatever policy it is they have expires. Also you may want to consider simply taking the stone out of the ring and picking out a mount for your self and making you a ring, unless it will have bad memories associated with it. REGARDS SNOW

[exalted512]

Or hold on to it and trade up when the right girl comes along.You need to get out of that downtown bar scene my man if you want a nice girl to marry.
thats what i was thinking
-Cody

[Demiurge]

Been there myself, and I ended up eating the cost of it for the most part.

Sorry to hear about the split up. :(

[Emlyn]

Since diamonds are an essentially worthless commodity whose pricing and sales are controlled by artificial market restrictions and pushed by slick marketing, buying a diamond back attracts little interest from dealers.

This article, originally published in 1982, shows some of the history behind the industry:

http://www.theatlantic.com/doc/198202/diamond

Some friends have leaned away from getting diamond engagement rings in recent years because of the "blood diamond" controversy. I don't think the diamond engagement ring tradition will change for a long time though. Hell, I'd probably buy one myself if I decided to get married.

I agree with one of the above posts. Get the stone made into something else. The value you'd get from giving the gift of diamond earrings will far outweigh the limited amount of money you'd get back from what you spent on the diamond.

[ledhed]

This is just pushing me more towards buying a man-made, laboratory grown piece of carbon.

[Holydoc]

Next time get her a nice Anthem D2 pre/pro. That way there is no problems whether she stays or goes. Pre-amps are forever...uh...until you upgrade.

:)

umm.. I apologize. Now I know why I am single. LOL.

[madmax]

Lesson to be learned: The only diamond worth buying goes on the end of a tonearm... :)

[DarqueKnight]

My mother opted for 50% ownership in a house and 100% ownership in a new car when she got engaged. My father also paid for her college education, but that was just laniappe. She never had and still does not have any interest in diamonds. According to her, "They're pretty, but they're just rocks."

[Polk65]

Damn! I thought Chuck had the sagely advice here.

[wodom1]

Thanks for all the comments and suggestions. Fortunately, the split was amicable and everything is okay between the ex and I. I think Snow's suggestion may be the best. I'm going to call USAA to see about upgrading the diamond, then returning it for a refund. That may very well be my best solution. If I can't do that, I may just do as Dangerboy suggested and have it split up and give it to my Mom as earrings or something. Once again, thanks for all the help.

[disneyjoe7]

Is it possible to return it for a store credit? This way you maybe able to get 100% value of the ring. Maybe not what you're looking for but an option to think about.

[petrym]

It's only carbon... ;)

Sorry to hear about you and your ex... I'd keep it and give it a ceremonial bath in a cleaner to wash away all traces of female DNA, then hold on to it for the right Mrs. Wodom.

edit: store it in a safety deposit box if you have one.

[PolkThug]

Take it back to the USAA and put it towards a nice watch for yourself. That's what I would do.