diamond ring

[Lon]

My wife wants to sell her diamond ring. We just want to do something different with the money like donate it or give it away somehow.

we bought it from spence diamonds originally, but it turns out they only offer a trade-up so I would need to buy an even more expensive diamond!

does anyone know what the best routes for selling a diamond ring in toronto might be?

thanks in advance.

[rsasp]

maybe on Ebay?

[I0s]

is it true that the resell value of a diamond ring is low?

[yao416]

is it true that the resell value of a diamond ring is low?

doubt it,
My mom's friend bought her diamond for about 5grand and can sell for 10g, thats what she say.

[Lon]

that's right, from what i understand, diamonds retain their value... the ring itself might not be worth as much, but the diamond itself should be around the same, if not more...

[yao416]

You should post a picture of the diamond up :D

[najibs]

is it true that the resell value of a diamond ring is low?

Relatively speaking, yes.

doubt it,
My mom's friend bought her diamond for about 5grand and can sell for 10g, thats what she say.

She's full of *****

that's right, from what i understand, diamonds retain their value... the ring itself might not be worth as much, but the diamond itself should be around the same, if not more...

Jewellery in general does not retain it's value. Besides the weight of the gold or stone that's on it, part of what you're paying for, is the labour it takes to make it.

It's kinda like a car, as soon as you walk out of the jewellery store, you'll never get the same amount of money you paid for it, simple as that. Unless it's a very rare stone.

Lets put it this way. A ring you buy at a jewellery store for $5000, which might be appraised at $9,000 on the certificate it comes with (that value is purely for insurance purposes) you might only get back $3000 for it, at most. Jewellery is not an investment. Unless you have a gold bar, that you got for cheap, and sell it when the price of gold is high, as per the weight.

[rfdrfd]

Relatively speaking, yes.



She's full of *****



Jewellery in general does not retain it's value. Besides the weight of the gold or stone that's on it, part of what you're paying for, is the labour it takes to make it.

It's kinda like a car, as soon as you walk out of the jewellery store, you'll never get the same amount of money you paid for it, simple as that. Unless it's a very rare stone.

Lets put it this way. A ring you buy at a jewellery store for $5000, which might be appraised at $9,000 on the certificate it comes with (that value is purely for insurance purposes) you might only get back $3000 for it, at most. Jewellery is not an investment. Unless you have a gold bar, that you got for cheap, and sell it when the price of gold is high, as per the weight.


How about if the diamond ring has a "fancy" name attached to it? Like if it was from Tiffany's?

[najibs]

How about if the diamond ring has a "fancy" name attached to it? Like if it was from Tiffany's?

When you buy something from Tiffany's, you're paying for the tiffany name and design.

Any good ring maker can replicate the design.

If talking about a diamond ring, there's no such thing as a 'Tiffany Diamond.' It all comes from the same place as where the other reputable jewellers get their diamond from...GEMSCAN.

[I0s]

so the diamond itself will retain its value but the ring will not, safe to assume that?

[hp]

so the diamond itself will retain its value but the ring will not, safe to assume that?

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

This has been mentioned before, this cnn article also details the difficulties in re-selling engagement ring.

http://www.cnn.com/2007/TECH/internet/02/14/heartbreak.diamonds/index.html

I tend to agree with the general point of these articles, diamond is not a good investment (there are exceptions, if you buy exceptionally rare diamonds, they tends to appreciate, but those are very expensive, and obviously very hard to get you hand on them).

hp

[almostfreeman]

My wife wants to sell her diamond ring. We just want to do something different with the money like donate it or give it away somehow.

we bought it from spence diamonds originally, but it turns out they only offer a trade-up so I would need to buy an even more expensive diamond!

does anyone know what the best routes for selling a diamond ring in toronto might be?

thanks in advance.

If you are thinking of donating the money maybe it might be of more value in a charity auction. I have been to charity auctions where people were quite willing to pay well in excess of the value of the article they were bidding on.

[Lon]

doubt it,
My mom's friend bought her diamond for about 5grand and can sell for 10g, thats what she say.

how'd they manage to do this? I'm not really looking to make any type of profit, just get a decent amount of cash back out of it.

so far i'm hearing

- ebay
- certain jewelers
- and charity auctions (does any one know of any in toronto that i could connect with?)

Thanks

[ullyeus]

doubt it,
My mom's friend bought her diamond for about 5grand and can sell for 10g, thats what she say.

Right...because there is a market for used diamond rings? Your mom's friend is crazy. Diamonds depreciate faster than just about any other product.

[Ohboiya]

No ... diamonds won't retain their value.

If you want to sell it, go to a pawnbroker on Queen St. or on Church. You'll know what I mean.

A friend bought a ring for $5K and his GF broke up with him and he sold it to a pawnbroker for $2K.

However, Tiffany (& it seems Spence as well) will allow you to trade in your diamond for another stone.

But beware. I recently bought a Tiffany diamond after shopping at the Toronto, Vancouver, Beverley Hills & Scottsdale locations. I went through over 50 diamonds in total and imported two stones ... one from the UK and the other from LA. Irrespective of the price / store you buy it at ... you'll encounter a whole crapload of terrible stones. REALLY review the certificate whether it be EGS, GIA or if you go to Tiffany's as I did ... understand how their certification process works. The name does not equal quality unless you know what you should be looking for :)

[hardcandy1911]

My wife wants to sell her diamond ring. We just want to do something different with the money like donate it or give it away somehow.

we bought it from spence diamonds originally, but it turns out they only offer a trade-up so I would need to buy an even more expensive diamond!

does anyone know what the best routes for selling a diamond ring in toronto might be?

thanks in advance.


I'm guessing you dont have any kids?

[Nikita]

No ... diamonds won't retain their value.

If you want to sell it, go to a pawnbroker on Queen St. or on Church. You'll know what I mean.

A friend bought a ring for $5K and his GF broke up with him and he sold it to a pawnbroker for $2K.

However, Tiffany (& it seems Spence as well) will allow you to trade in your diamond for another stone.

But beware. I recently bought a Tiffany diamond after shopping at the Toronto, Vancouver, Beverley Hills & Scottsdale locations. I went through over 50 diamonds in total and imported two stones ... one from the UK and the other from LA. Irrespective of the price / store you buy it at ... you'll encounter a whole crapload of terrible stones. REALLY review the certificate whether it be EGS, GIA or if you go to Tiffany's as I did ... understand how their certification process works. The name does not equal quality unless you know what you should be looking for :)

Also, be sure that you're buying conflict-free diamonds ;)

[untaka]

Try Oliver Jewelry he will give you $1 to every $10000 it is worth.

[Dragon120]

doubt it,
My mom's friend bought her diamond for about 5grand and can sell for 10g, thats what she say.

Just like what the other posters have said, your mom's friend is full of crap.

[Rocketo]

Also, be sure that you're buying conflict-free diamonds ;)

there really is no way you can tell if they are conflict diamonds or not..

[Ohboiya]

there really is no way you can tell if they are conflict diamonds or not..


i was about to ask if there was a way to check. when i spoke to the gemologist at tiffany, he said that the country of origin wouldn't be on my certificate.

do you guys see the country of origin on your gia, egs, gemscan reports?

i've heard that the only diamonds that are guaranteed conflict are canadian rocks ... for which evidently you pay more of a premium?

[trolleydolly]

Your mom's friend is just bragging, unjustifiably. Retail is ALWAYS lower than the appraised value, it makes consumers feel warm and fuzzy inside. On paper her diamond might very well be "worth" 10 grand. But who would buy a pre-owned ring for 10 grand if they can buy the same diamond from a jeweller for half the price?

[Chigu]

so the diamond itself will retain its value but the ring will not, safe to assume that?

Diamond's don't usually retain their value (depending on the cut). There are things such as 'old' cuts and 'new' cuts. It all depends on supply and demand, if a certain cut is popular at the time then that will be more expensive. Generally, old cuts of diamond are not in demand at the moment. So the marketprice for the diamond will be lower.

[corrupt123]

You could check out Portero.com (www.portero.com); It's a high-end classifieds site, might have some luck there, but I wouldnt expect significantly more luck than e-bay or a charity auction. I also dont know if it's canadian, or cross boarder.

On an unrelated note; if diamonds dontr usually increase or retain their value, than do luxury items like high end watches retain/increase in value?

[ferkel]

There are mountains and mountains of diamonds... just the supply is tightened by big companies like DeBeers.

In reality one carat is probably worth $10 but with supply artificially tightened its $10k.

[goob3r]

Taken from http://www.edwardjayepstein.com/diamond/prologue.htm

Selling diamonds can also be particularly frustrating for individuals. One wealthy woman living in New York city decided to sell back a diamond ring that she had bought from Tiffany two years earlier for $100,000, and use the proceeds to buy a necklace of matched pearls that she fancied. She had read about the "diamond boom" in news magazines, and hoped that she might make a profit on the diamond. Instead, the sales executive with whom she dealt explained, with a touch of embarrassment, that Tiffany had "a strict policy against repurchasing diamonds." He assured her, however, that the diamond was extremely valuable and suggested another jewelry store. The woman went from one leading jeweler to another, trying to sell her diamond. One store offered her the opportunity to swap it for another jewel, and two other jewelers offered to accept the diamond "on consignment," and pay her a percentage of what they sold it for, but none of the half-dozen jewelers she visited that day offered her cash for her $100,000 diamond. She finally gave up and kept it.

Most people have said it here already: You will never get the amount a diamond is appraised for. Think of the price of a diamond as the equivalent of peeners for women. Or is that the size? :cheesygri

The person who suggested donating it to a charity auction may be the best way of getting most of its value, if that is your final intention anyway.

[Ohboiya]

In reality one carat is probably worth $10 but with supply artificially tightened its $10k.

So then it's really worth $10K right?

[ferkel]

So then it's really worth $10K right?

no.. thats the retail price. Its worth like $1k on the wholesale/resell market.