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Hey all. Any suggestions on where to get the best price for jewelry? On my walk to the park the other night I found a white gold and diamond ring. Unfortunately, a car or two had run it over so it has some scuffing but stamped 14kt with a row of large diamonds. Was thinking of upgrading my wedding ring but hubby didn’t seem pleased with that idea.
Thoughts on where to take this to get a fair price? I’m sure it would be expensive if you went to purchase. Thanks! Liz Catmom
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Why not sell it on eBay? You’ll get more if you sell direct to a customer than selling it to a gold scrap or pawn shop.
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Just because the hallmark says 14k does not mean the gold or diamonds are real. Suggest you take it to two or more jewelry stores. They could tell you for free if the diamonds are real. Also, if they buy used jewelry they will give you a free quote – which may be low compared to Ebay resale but will give you a benchmark. Also, they could tell you what it would cost to buff out the scratches on the gold. However, if the diamonds are damaged, they wont be worth much.
I hope its a home run. If it is you might want to get a written appraisal (suggest GIA) which will give authenticity to your Ebay add. Even if gold scrap, large diamonds (1 ct and above) that are good grade will have more scrap value.
Fyi – for the last ten years, I have focused on resale of vintage costume and silver jewelry.
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I have not had any issues selling scrap gold / silver, high end costume, or fine jewelry under $500 on ebay. Above that I don’t have Ebay experience as I have the advantage of selling higher value items in cases we rent in an antique mall. The antique mall is more secure as not exposed to the potential ebay scammer. However, I dot get that many $500+ value items…
Ebay may be low risk for higher value items, but I just cant comment without the experience.
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Just listened to the podcast. Great as always! Here are photos of the ring in question. Marked 14k.
Thanks for the information. Liz
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My concern with selling on eBay is that you need someone to look at the stones and determine quality. You need an expert to look at the stones with a loop and grade them. Could be crap CZs or could be $1000s.
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So…. went to the local jewelry store that buys and sells… Great news! Ring is REAL. DIAMONDS ARE REAL.
Bad news… they offered me $75…. then upped it to $100 when I asked “is that the best you can do?” Told me $75 for the gold and $25, yes, $25 for the diamonds because “they have TONS of diamonds and don’t need them.”
Seriously? Talk about a scammy industry… ring would easily cost over 2k if you were purchasing. Going to try a couple more places. Liz
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If you can get a little more advice it may help with next steps. Suggest asking approximate carat size. Diamonds value change dramatically on size and quality. If above .5 carat then it may be worth getting a written appraisal. An appraiser will charge per stone so with this one having 7 to 9 stones this be expensive. So hard to know how much to spend to evaluate versus selling as is and without specifics.
Perhaps the jewelry store could also say if the diamonds were damaged when run over by cars? While diamonds are hard, they can be fractured (that is how they are cut into their shapes).
Selling jewelry online also brings the challenge of pictures. To get the pics of hallmarks, defects and capture the beauty of the diamonds will take time and practice.
One final thought on price from the jewelry store. Jewelry stores get their stock wholesale so the price is much less than retail to pay for the high overhead of their stores. Also customers demand a much lower price when buying used jewelry. If the diamonds are small, then the typical scrap value would be small diamonds equal scrap gold price. One gram of 14K gold at todays scrap price is $36. You can get more than this on ebay, but if the diamonds are small it will not be as large as you hope.
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