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Anyone have any experience selling a diamond?

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Pool Hall Ace Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-16-09 02:42 PM
Original message
Anyone have any experience selling a diamond?
I have the GIA report on it. It is not very big (just over half of a carat) but I thought it may be worth something. My estranged husband just laughs and says it isn't worth anything, but he says that about me, too.

Through a Google search, it appears that the first step is to see an appraiser. However, I was wondering if anyone had any experience in selling, and could help me avoid being ripped off?

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pitohui Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-16-09 02:50 PM
Response to Original message
1. diamonds are bought retail and sold wholesale
Edited on Sun Aug-16-09 02:52 PM by pitohui
you WILL be ripped off and won't be able to recover your investment

however, to get the best price that you can expect as a private seller, i don't see an alternative to getting an honest appraisal (not an insurance appraisal which bears no resemblence to what price you can actually sell the stone for)

at the end of the day the jeweler or pawn shop guy or whoever buys the stone will make the profit but i have never found a way for an individual to (honestly) make a profit

what dishonest people do is get an insurance appraisal and then sell the stone to a soft-minded private individual who thinks they are getting a deal because they're paying less than the insurance appraisal (of course they'd pay less at the jewelry store too but if they don't know they're not getting a deal, hey, ignorance is bliss)

i used to sell stones, i guess you can tell i didn't work with diamonds tho!

good luck and just do your best, appraisal plus craigslist will work well as long as you aren't robbed (unfortunately once when i took this route i WAS robbed, sigh...so what do you do? a friend used to meet to sell his diamonds at the bank where he had the safety deposit box, on the presumption it would take more stones than most people had to rob him at the bank!!!!)

selling it for SOME price is better than keeping it in a box doing no good to anyone so don't take my words as discouraging you from selling

rather i would discourage you from expecting any ridiculous life changing amt of money because it just won't happen

manage your expectations and you should be OK
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Pool Hall Ace Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-16-09 03:54 PM
Response to Reply #1
2. Oh, I don't expect a life-changing amount.
But I hope to get something out of it. I'm certainly not going to wear it anymore.
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