Best Way to Sell a Diamond Ring

[FingerDub]

I have a 1.1 carat diamond ring that I'd like to sell. Retail prices are around $2500 for a diamond of this size and quality. I know I'd get jacked by taking it to a pawn shop. I'm worried about selling it online due to switch outs by pros and other shenanigans so I'd like a face to face deal.

Any experts here who can help me get the most value for it?

 

[Jim Nazium]

I don't know if this is the best way, but here's how I sold a diamond that my mother left me in her will: I sent it to GIA (Gemological Institute of America) for certification. For a fee, they certify the weight, color, and clarity of the diamond and seal it in a tamper-evident container. It's like the card that an allergy pill comes on, but with a hologram seal. I forgot how much they charged, but it wasn't bad. Then I sold it on eBay with the stipulation that I would only accept a return if the container showed no evidence of being opened. It worked out well and I got a fair price for the diamond.

I'm sure this method is not 100% foolproof, but I think it offers a fair degree of protection to both the buyer and seller.

 

[FingerDub]

I don't know if this is the best way, but here's how I sold a diamond that my mother left me in her will: I sent it to GIA (Gemological Institute of America) for certification. For a fee, they certify the weight, color, and clarity of the diamond and seal it in a tamper-evident container. It's like the card that an allergy pill comes on, but with a hologram seal. I forgot how much they charged, but it wasn't bad. Then I sold it on eBay with the stipulation that I would only accept a return if the container showed no evidence of being opened. It worked out well and I got a fair price for the diamond.

I'm sure this method is not 100% foolproof, but I think it offers a fair degree of protection to both the buyer and seller.

Thanks, that exactly the kind of ideas I was looking for.

 

[friskinator]

There's no way I'd attempt to sell it on Ebay. As discussed ad nauseum in other threads, Ebay's "no returns" policy is a joke on the seller's end. If the buyer decides they don't want it for any reason, they'll get their money back one way or another.

 

[FingerDub]

There's no way I'd attempt to sell it on Ebay. As discussed ad nauseum in other threads, Ebay's "no returns" policy is a joke on the seller's end. If the buyer decides they don't want it for any reason, they'll get their money back one way or another.

Yeah, I'm with you. This was my main concern.

I have a buddy who is in the jewelry business, and he just told me he can certify the diamond for me and provide me something secure to ship it in like Jim Nazium suggested.

 

[buldog5151bass]

So what would your buddy give you for it? I would think that unless you are a known seller, you are unlikely to get a stranger give you fair value for it. I certainly wouldn't trust a stranger selling a $2500 ring, even with a certification. Think about it.

 

[Jrussblues]

I was in a similar situation, I sold mine to a jewelry shop and got what I felt was a fair value for it. A locally owned shop though. And I went to a few shops and sold it to the one that gave me the best price.