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When selling a solitaire diamond ring, what would be the ideal price to set?

  • When selling a solitaire diamond ring, what would be the ideal price to set? We are selling my mother's old engagement ring. A valuation carried out yesterday for insurances purposes only by an authorised gemstone accreditor valued it at £12,000. If we are to sell the ring privately, what is a general percentage of the insurance value that we should price the ring at in order to sell privately? Does anyone have any ideas on the best place to advertise such an item? More importantly, is Ebay a safe place for items of this nature? Thanks

  • Answer:

    If it's worth £12,000, why would you want to sell it for anything less than £12,000? The insurance valuation is meant to be the amount of money you would need to replace it if it were lost or stolen. It's what the item is worth. I for one would NEVER buy an item of this nature on eBay. There's no way to examine the item, and I would not buy an expensive item "blind". Why not find a jeweler who buys estate jewelry, and see what he offers?

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Get an appraisal done and then you will know what its worth.

It is only worth what someone is willing to buy it for. I suggest that you provide more information than just the appraised value. Information like cut, symmetry, clarity, color, and certificate are verrrrrry important to making the sale happen. Good luck. * * *

you need to find a jewelry store that specializes in antique and heirloom jewelry. that is the only way you will get close to value. i hate to tell you, even if it's appraised for 12K, you'll never see that much

An insurance appraisal gives the full retail price you would have to pay to replace the ring if it was lost or stolen. Someone purchasing a used ring isn't going to want to pay full retail value when they could go buy a brand new one for the same price. About 1/3 of it's appraised retail value is all your probably going to be able to get out of it selling it to a private party. I would try and advertise it through local sources (craigslist, newspaper ect...), not online, and make it "cash only", so you won't get a fraudulant check that will bounce. If you are selling it to a jeweler (which is really the safest way to sell) you'll get even less (why would the pay what they could buy it at wholesale when it's used and they won't be able to re-sell it at new retail prices?). Honestly, if you don't need the money, I would just hold onto it until the economy improves and you can get a fair price. Everyone is looking for steals right now, and that's all their shelling out cash for. But if you desperately need the money, you can only get out of it what someone is willing to pay (which probably won't be as much as your hoping for).

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