Has anyone ever sold a diamond?

wodom1
wodom1 Posts: 1,054
edited February 2007 in The Clubhouse
So, my fiance and I broke up a little over two months ago and I need to get rid of the ring. I got it back since the split was amicable, but I'd like to sell it to try to recoup some of the costs. Everything I've read online leads me to believe I'm going to take a huge hit on trying to sell it. It's not a big diamond, only 5/8 carat, but it was damn expensive. Any of you guys/ladies have any experience in trying to move diamonds? I purchased it through USAA (fantastic outfit that military guys will know about) and tried to see if they would take it back, but it's been too long since I purchased it and they will only take it back if I'm upgrading. For now I've got this rock, which is essentially only worth 40% of what I paid hanging out in my apartment. I have no desire whatsoever to keep it. Anyone interested in a high quality diamond?

Josh
"I got into the music business thinking it was really radical, that it wasn't really a business at all, that it was a lot of people being artistic and creative. Not true, and it made me very depressed."

Thom Yorke of Radiohead

SOPA. Bow down before me, ****. Want a cookie?


Polk Audio LSi15
Polk Audio LSiC
Polk Audio FXi30
Samsung LN-T4061F 40" 1080P LCD HDTV
Sony Playstation 3
Outlaw Model 990 Pre/Pro
Rotel 985 MK II
Rotel 1072 CDP
Soundstage Vacuum II tube pre
Post edited by wodom1 on
· Share on FacebookShare on Twitter

Comments

  • danger boy
    danger boy Posts: 15,722
    edited February 2007
    hmmm? you may want to take your diamond ring to a trusted high end jewler and see if they'll buy if from you. i wouldn't trust anyone else with a rock like that.
    PolkFest 2012, who's going>?
    Vancouver, Canada Sept 30th, 2012 - Madonna concert :cheesygrin:
    · Share on FacebookShare on Twitter
  • tonyb
    tonyb Posts: 32,981
    edited February 2007
    Have stolen a few in my day but never re-sold.Do as danger boy says or you can try and trade it for something of interest to you.Consider yourself lucky that you even got it back.Or hold on to it and trade up when the right girl comes along.You need to get out of that downtown bar scene my man if you want a nice girl to marry.
    HT SYSTEM-
    Sony 850c 4k
    Pioneer elite vhx 21
    Sony 4k BRP
    SVS SB-2000
    Polk Sig. 20's
    Polk FX500 surrounds

    Cables-
    Acoustic zen Satori speaker cables
    Acoustic zen Matrix 2 IC's
    Wireworld eclipse 7 ic's
    Audio metallurgy ga-o digital cable

    Kitchen

    Sonos zp90
    Grant Fidelity tube dac
    B&k 1420
    lsi 9's
    · Share on FacebookShare on Twitter
  • janmike
    janmike Posts: 6,146
    edited February 2007
    Like the guys said, have a qualified expert do an appraisal. While the size may be small, the quality opf the diamond is critical. Commonly referred to as the 4 C's (Color, Clarity, Cut and Carat). Have it appraised and then determine to keep it for future upgrade or dump it. 40% of original value. Hmmmmmm.
    Michael ;)
    In the beginning, all knowledge was new!
    NORTH of 60°
    · Share on FacebookShare on Twitter
  • BaggedLancer
    BaggedLancer Posts: 6,371
    edited February 2007
    Save it and give it to the next fiance......she'll never know :D
    · Share on FacebookShare on Twitter
  • Rivrrat
    Rivrrat Posts: 2,101
    edited February 2007
    The problem with consumer diamond jewlery is it's nothing more than an emotional purchase, it's worthless as an investment. I'm thinking 40-50% of the origional purchase is about right.

    I'd look at e-bay or Craigslist, but you're still up against people that are looking to pay pennies on the dollar.

    Oh and I've been there, been there done that, and sorry for the way things worked out. Fortunately for me the jewlery store took the ring back.
    My equipment sig felt inadequate and deleted itself.
    · Share on FacebookShare on Twitter
  • beardog03
    beardog03 Posts: 5,550
    edited February 2007
    Josh,

    I`m with janmike and rivrrat..

    I have dealt with a few carats in my day, and just like vehicles, once you take posession and leave the lot, you loose money..

    Have it appraised first, then take it to a jewler that will put in on consignment...

    Or take the hit and sell it to any jewler that will buy...
    ....or e-bay/craigslist
    Cary SLP-98L F1 DC Pre Amp (Jag Blue)
    Parasound HCA-3500
    Cary Audio V12 amp (Jag Red)
    Polk Audio Xm Reciever (Autographed by THE MAN Himself) :cool:
    Magnum Dynalab MD-102 Analog Tuna
    Jolida JD-100 CDP
    Polk Audio LSi9 Speaks (ebony)
    SVS PC-Ultra Sub
    AQ Bedrock Speaker Cables (Bi-Wired)
    MIT Shotgun S1 I/C`s
    AQ Black Thunder Sub Cables
    PS Audio Plus Power Cords
    Magnum Dynalab ST-2 FM Antenna
    Sanus Cherry wood Speak Stands
    Adona AV45CS3 / 3 Tier Rack (Black /Gold)

    :cool:
    · Share on FacebookShare on Twitter
  • dkg999
    dkg999 Posts: 5,647
    edited February 2007
    40% to 50% of value? I had an unfortunate one of these things happen in the early 90's and about 20% of appraised value is all I could get jewelers or private buyers to go. I have my spare diamonds in a safe and they will go to make something for my daughters at some point. Good luck and hope it all works out for you!
    DKG999
    HT System: LSi9, LSiCx2, LSiFX, LSi7, SVS 20-39 PC+, B&K 507.s2 AVR, B&K Ref 125.2, Tripplite LCR-2400, Cambridge 650BD, Signal Cable PC/SC, BJC IC, Samsung 55" LED

    Music System: Magnepan 1.6QR, SVS SB12+, ARC pre, Parasound HCA1500 vertically bi-amped, Jolida CDP, Pro-Ject RM5.1SE TT, Pro-Ject TubeBox SE phono pre, SBT, PS Audio DLIII DAC
    · Share on FacebookShare on Twitter
  • Bill Ayotte
    Bill Ayotte Posts: 1,860
    edited February 2007
    I went through the same thing a couple months back.....She liked the bottle more than me i guess. Luckily for me, Tiffany's was more than happy to take it back at a small loss to me. At least I got something back besides a pain in the ****. What a way to come home. I'm not bitter though. :rolleyes:
    · Share on FacebookShare on Twitter
  • BaggedLancer
    BaggedLancer Posts: 6,371
    edited February 2007
    Insure it. "Lose" it. Claim it. Sell it.


    Wait a minute, that's fraud. Don't do that.
    · Share on FacebookShare on Twitter
  • danger boy
    danger boy Posts: 15,722
    edited February 2007
    have the diamond taken out.. have it split into two... and have diamond earrings made for your mom.. mother's day isn't that far away you know.. she'll love em. :)
    PolkFest 2012, who's going>?
    Vancouver, Canada Sept 30th, 2012 - Madonna concert :cheesygrin:
    · Share on FacebookShare on Twitter
  • PolkWannabie
    PolkWannabie Posts: 2,763
    edited February 2007
    Appraised value is usually for the benefit of insurance claims and high enough relative to real value that no one would pay that price.

    For a variety of reasons it's best to buy diamonds at an exchange where one is likely to pay much closer to wholesales then retail value and then have the stone(s) set ...
    Rick
    HT+ Sunfire TG IV, Dual CG Sig II's, CinePro 1K2, Oppo 981, Audio Technica PL120, Polk SRT's & F/X1000's, Samsung 71" DLP
    · Share on FacebookShare on Twitter
  • janmike
    janmike Posts: 6,146
    edited February 2007
    danger boy wrote:
    have the diamond taken out.. have it split into two... and have diamond earrings made for your mom.. mother's day isn't that far away you know.. she'll love em. :)
    I second that. Great idea.
    Michael ;)
    In the beginning, all knowledge was new!
    NORTH of 60°
    · Share on FacebookShare on Twitter
  • snow
    snow Posts: 4,337
    edited February 2007
    wodom1 wrote:
    Everything I've read online leads me to believe I'm going to take a huge hit on trying to sell it. It's not a big diamond, only 5/8 carat, but it was damn expensive. Any of you guys/ladies have any experience in trying to move diamonds? I purchased it through USAA (fantastic outfit that military guys will know about) and tried to see if they would take it back, but it's been too long since I purchased it and they will only take it back if I'm upgrading.

    Josh
    First sorry to hear the bad news regarding the fiancee. And yes i have extensive knowledge regarding Jewelry. I bought sold and repaired Jewelry for many years. And usally trying to resell a engagment ring is very hard to do and recoup a decent percentage of your money. Jewelers if they are interested at all want to buy it for less than wholesale because they buy at wholesale prices from suppliers allready. So to be a good deal for them it has to be less than that. If USAA has a trade in upgrade policy it may actually be to your advantage to do that. Trade it in for one that is a little pricier, then return that one before the 30 day or whatever policy it is they have expires. Also you may want to consider simply taking the stone out of the ring and picking out a mount for your self and making you a ring, unless it will have bad memories associated with it. REGARDS SNOW
    Well, I just pulled off the impossible by doing a double-blind comparison all by myself, purely by virtue of the fact that I completely and stupidly forgot what I did last. I guess that getting old does have its advantages after all :D
    · Share on FacebookShare on Twitter
  • exalted512
    exalted512 Posts: 10,735
    edited February 2007
    tonyb wrote:
    Or hold on to it and trade up when the right girl comes along.You need to get out of that downtown bar scene my man if you want a nice girl to marry.
    thats what i was thinking
    -Cody
    Music is like candy, you have to get rid of the rappers to enjoy it
    · Share on FacebookShare on Twitter
  • Demiurge
    Demiurge Posts: 10,874
    edited February 2007
    Been there myself, and I ended up eating the cost of it for the most part.

    Sorry to hear about the split up. :(
    · Share on FacebookShare on Twitter
  • Emlyn
    Emlyn Posts: 4,525
    edited February 2007
    Since diamonds are an essentially worthless commodity whose pricing and sales are controlled by artificial market restrictions and pushed by slick marketing, buying a diamond back attracts little interest from dealers.

    This article, originally published in 1982, shows some of the history behind the industry:

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

    Some friends have leaned away from getting diamond engagement rings in recent years because of the "blood diamond" controversy. I don't think the diamond engagement ring tradition will change for a long time though. Hell, I'd probably buy one myself if I decided to get married.

    I agree with one of the above posts. Get the stone made into something else. The value you'd get from giving the gift of diamond earrings will far outweigh the limited amount of money you'd get back from what you spent on the diamond.
    · Share on FacebookShare on Twitter
  • ledhed
    ledhed Posts: 1,088
    edited February 2007
    This is just pushing me more towards buying a man-made, laboratory grown piece of carbon.
    God shows his love for us in that while we were still sinners, Christ died for us. - Romans 5:8
    · Share on FacebookShare on Twitter
  • Holydoc
    Holydoc Posts: 1,048
    edited February 2007
    Next time get her a nice Anthem D2 pre/pro. That way there is no problems whether she stays or goes. Pre-amps are forever...uh...until you upgrade.

    :)

    umm.. I apologize. Now I know why I am single. LOL.
    Holydoc (Home Theatre Lover)
    __________________________________________
    Panasonic -50PX600U 50" Plasma
    Onkyo -TX-NR901 Receiver
    Oppo -Oppo 980HD Universal DVD Player
    Outlaw -770 (7x200watt) Amplifier
    PolkAudio - RTi12 (Left and Right)
    PolkAudio - CSi5 (Center)
    PolkAudio - FXi3 (Back and Surround)
    SVS - PB-12/Plus (Subwoofer)
    Bluejean Cables - Interconnects
    Logitech Harmony 880 - Remote
    · Share on FacebookShare on Twitter
  • madmax
    madmax Posts: 12,434
    edited February 2007
    Lesson to be learned: The only diamond worth buying goes on the end of a tonearm... :)
    Vinyl, the final frontier...

    Avantgarde horns, 300b tubes, thats the kinda crap I want... :D
    · Share on FacebookShare on Twitter
  • DarqueKnight
    DarqueKnight Posts: 6,765
    edited February 2007
    My mother opted for 50% ownership in a house and 100% ownership in a new car when she got engaged. My father also paid for her college education, but that was just laniappe. She never had and still does not have any interest in diamonds. According to her, "They're pretty, but they're just rocks."
    Proud and loyal citizen of the Digital Domain and Solid State Country!
    · Share on FacebookShare on Twitter
  • Polk65
    Polk65 Posts: 1,405
    edited February 2007
    Damn! I thought Chuck had the sagely advice here.
    · Share on FacebookShare on Twitter
  • wodom1
    wodom1 Posts: 1,054
    edited February 2007
    Thanks for all the comments and suggestions. Fortunately, the split was amicable and everything is okay between the ex and I. I think Snow's suggestion may be the best. I'm going to call USAA to see about upgrading the diamond, then returning it for a refund. That may very well be my best solution. If I can't do that, I may just do as Dangerboy suggested and have it split up and give it to my Mom as earrings or something. Once again, thanks for all the help.
    "I got into the music business thinking it was really radical, that it wasn't really a business at all, that it was a lot of people being artistic and creative. Not true, and it made me very depressed."

    Thom Yorke of Radiohead

    SOPA. Bow down before me, ****. Want a cookie?


    Polk Audio LSi15
    Polk Audio LSiC
    Polk Audio FXi30
    Samsung LN-T4061F 40" 1080P LCD HDTV
    Sony Playstation 3
    Outlaw Model 990 Pre/Pro
    Rotel 985 MK II
    Rotel 1072 CDP
    Soundstage Vacuum II tube pre
    · Share on FacebookShare on Twitter
  • disneyjoe7
    disneyjoe7 Posts: 11,435
    edited February 2007
    Is it possible to return it for a store credit? This way you maybe able to get 100% value of the ring. Maybe not what you're looking for but an option to think about.

    Speakers
    Carver Amazing Fronts
    CS400i Center
    RT800i's Rears
    Sub Paradigm Servo 15

    Electronics
    Conrad Johnson PV-5 pre-amp
    Parasound Halo A23
    Pioneer 84TXSi AVR
    Pioneer 79Avi DVD
    Sony CX400 CD changer
    Panasonic 42-PX60U Plasma
    WMC Win7 32bit HD DVR


    · Share on FacebookShare on Twitter
  • petrym
    petrym Posts: 1,912
    edited February 2007
    It's only carbon... ;)

    Sorry to hear about you and your ex... I'd keep it and give it a ceremonial bath in a cleaner to wash away all traces of female DNA, then hold on to it for the right Mrs. Wodom.

    edit: store it in a safety deposit box if you have one.
    · Share on FacebookShare on Twitter
  • PolkThug
    PolkThug Posts: 7,532
    edited February 2007
    Take it back to the USAA and put it towards a nice watch for yourself. That's what I would do.
    Never Forget
    · Share on FacebookShare on Twitter