Selling diamond rings

[mrcolin2u]

This topic has probably been posted before , but does anyone know where to get the best price for gold and diamond rings ?
I have some that are quite valuable, one engagement ring I had appraised for over $5k retail , that was about 25 years ago and I still have the ring and certificate. Since then I have found several more very nice engagement rings , I’d like to sell some of them and get a fair price .
Cheers !

 

[mtdoramike]

Unfortunately, the best you will get is scrap price, which will be well below your appraisal value, which by the way is mainly for insurance purposes. Used jewelry doesn't sell well on the open market unless you have a pawn shop or second hand store and can put in a display case for some times years before it sells. Jewelry is a very subjective thing meaning most people buy jewelry because they like a certain piece, or they buy it at a reasonable price and hold onto it as an investment.
Unless you have a girlfriend or wife to give the jewelry to for brownie points your better off selling it to scrappers who buy gold and silver.

Please don't shoot the messenger, but I have been down this same road a few times hoping for that bonanza or pot of gold at the end of that rainbow, but ended up with about 10-20 cents on the dollar.

 

[BennyV]

Diamonds are a tough sell right now. Was down in the diamond district in NYC a few months back. Lab grown, CZs, and moissanite are all outpacing diamond sales. Kind of crazy/sad.

 

[newnan man]

I read somewhere that diamonds are not as rare as we are led to believe. The market value is kept high by the large brokers in the business. I have no idea if this is true or not.

 

[Treasure_Hunter]

The value in diamond rings are mostly in the gold that holds them. Large flawless solitaire diamonds have some value, but the vast majority of diamond jewelry lose their value once they are sold and leave the store. Jewelers place huge mark ups on diamond jewelry sold.

 

[opalboy]

Lab diamonds are killing the natural diamond market, I recently bought a .33 carat lab diamond, eye clean and white, it cost less than $100! A natural diamond same quality about 5 times more. Part of the problem is you can’t tell a real diamond from a lab with a loupe (10x), you need a $3000 unit that also has a monthly subscription. It’s a bummer if you have any diamonds.

 

[UnderMiner]

Had you sold the ring 25 years ago you probably would have got more for the diamonds, if you sell it now you will certainly get more for the gold. The two materials have essentially switched places as gold is genuinly a finite resource while diamonds are just carbon which man has discovered cheap methods of manufacturing now.

 

[Treasure_Hunter]

Lab diamonds are killing the natural diamond market, I recently bought a .33 carat lab diamond, eye clean and white, it cost less than $100! A natural diamond same quality about 5 times more. Part of the problem is you can’t tell a real diamond from a lab with a loupe (10x), you need a $3000 unit that also has a monthly subscription. It’s a bummer if you have any diamonds.

That natural diamond would still lose most its value once it left the store. Typical natural diamond rings loses 50-80% of value once it leaves the store. Lab diamonds lose 70 to 90% of sell price once they leave store.

 

[UnderMiner]

That natural diamond would still lose most its value once it left the store. Typical natural diamond rings loses 50-80% of value once it leaves the store. Lab diamonds lose 70 to 90% of sell price once they leave store.

Also I don't know any young people who want diamonds anymore, or even gold for that matter, the new culture is all about overpaying for other materials now - like rings made of tungsten, titanium, and even silicone, these materials are essentially worthless, yet when marketed in the same way diamond rings use to be, regularly sell for hundreds of dollars. This is how we must think of diamond rings, 90% marketing, 10% actual intrinsic value. And the gold in the ring is the only thing with true value, because it's both useful, finite, and the traditional representation of true money since the dawn of time.

 

[mtdoramike]

The value in diamond rings are mostly in the gold that holds them. Large flawless solitaire diamonds have some value, but the vast majority of diamond jewelry lose their value once they are sold and leave the store. Jewelers place huge mark ups on diamond jewelry sold.

This was the point I was trying to make, but you did it in a lot less words and a bit more eloquently than I did.

 

[oldmxrat]

I use expressgoldcash.com for selling gold and diamonds.
They'll send you a mailer kit for free, fully insured, and will send your items back for free if you don't like their offer.
They have given me the best offers by far!

 

[TORRERO]

I read somewhere that diamonds are not as rare as we are led to believe. The market value is kept high by the large brokers in the business. I have no idea if this is true or not.

This is true... Google De Beers? ...

 

[mtdoramike]

My wife found a Large diamond cluster anniversary ring at a local beach 15 years ago, a local jeweler appraised it at $1200.00. I was lucky enough to sell it to a fellow detectorist, who bought it for his wife for around $300.00. It was a beautiful ring and I thought it was worth a lot more. I could have kept it for my wife, but I don't keep or wear found jewelry. I found and wore a men's silver ring years ago and it cost me a lot of physical and financial pain for about 30 days. Once I sold it to a jewelry scrapper, it was like everything was right again, it was like flipping on a light switch. I figure it was bad Kharma, so from then own I get rid of any jewelry I find quick fast and in a hurry.

 

[TORRERO]

This topic has probably been posted before , but does anyone know where to get the best price for gold and diamond rings ?
I have some that are quite valuable, one engagement ring I had appraised for over $5k retail , that was about 25 years ago and I still have the ring and certificate. Since then I have found several more very nice engagement rings , I’d like to sell some of them and get a fair price .
Cheers !

Small Diamonds you will get nothing for, larger ones maybe more sold through a pawnshop or something where they can retail your Jewelry, As for scrap Gold,
Midwest Refineries give the best price for scrap gold.
There are also companies that will take your "Nice" jewelry and sell it for you and you might get better than scrap.. but I have never used them so I don't know anything about them. ( I see them advertised on TV a lot and have considered trying them)

 

[Treasure_Hunter]

This was the point I was trying to make, but you did it in a lot less words and a bit more eloquently than I did.

I've been accused of many things, but was never accused of being eloquent.

 

[Mackaydon]

Back in the day I used two strings of pearls and 4 diamonds as collateral at my favorite coin store--for a loan to buy more coins. Today, they wont accept the pearls (Purchased at $3,500) nor will they accept a certified diamond at less that 1.0 carat in higher than average condition. My wife got the stones, my granddaughter the pearls.
I hope you have better luck.
Don in SoCal

 

[mtdoramike]

I've been accused of many things, but was never accused of being eloquent.

Well now you have! Wear it proudly like a badge of honor.

 

[UnderMiner]

Well now you have! Wear it proudly like a badge of honor.

The statement was very eloquent, especially in the way he described the gold holding the diamond, poetic almost.

 

[Gare]

This is REALLY GREAT INFORMATION 1!! Thank you all for the updates

 

[oldmxrat]

Btw, I just sent some scrap gold to expressgoldcash and their offer fell a bit short of my expectation so I refused the offer. Within a half hour they sent me another offer that was 88% of full melt value. Got the check 3 days later.