Selling Jewelry On-Line??

Early B.
Early B. Posts: 7,900
edited March 2008 in The Clubhouse
I have a divorced friend who has a wedding ring appraised at $20,000. She's wants to sell it and hoping to get at least $14,000 out of it. She's considering selling it on ebay and asked me for my opinion. She has all of the paperwork on the ring.

I don't know anything about selling jewelry, especially on ebay. I thought it wasn't a great idea, especially since she doesn't have any feedback. I told her she might be better off selling the stone and band separately, but I really don't know. I also figured a jeweler will only give her a fraction of its value.

Does anyone know the best way to sell used "high-end" jewelry?

Thanks.
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Post edited by Early B. on
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  • Fireman32
    Fireman32 Posts: 4,845
    edited March 2008
    Have youi tried the jewerly stores. Alot of them advertise that they buy jewelry.
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  • Early B.
    Early B. Posts: 7,900
    edited March 2008
    Fireman32 wrote: »
    Have youi tried the jewerly stores. Alot of them advertise that they buy jewelry.

    Will a jewelry store's price be just as good as the price she could get if she sold it on her own?
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  • treitz3
    treitz3 Posts: 19,259
    edited March 2008
    Not from what I've seen. Generally you'd be lucky to recoup 25%. I've been trying to get rid of a 1400.00 ring for over ten years now and the most that somebody offered me for it? Less than 200. So, is just sits in my toolbox.
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  • bobman1235
    bobman1235 Posts: 10,822
    edited March 2008
    Early B. wrote: »
    Will a jewelry store's price be just as good as the price she could get if she sold it on her own?

    Can't hurt to go to one and ask so at least your friend knows where she stands.
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  • dkg999
    dkg999 Posts: 5,647
    edited March 2008
    Look for an auction house in your area that handles a lot of estate jewelry. They should have someone who can do an auction appraisel and give you a potential range that it would sell for at auction. This would give you one estimate of value and a place to sell it. I have a good friend who buys and sells antique and estate jewelry, mostly buying on eBay and selling via her antique booths. She would look to pay no more than 10% of appraised insurance value on the secondary market for any high quality piece. A diamond may be a girls best friend, but it's not a good investment unless you really know how to play that market.
    DKG999
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  • Early B.
    Early B. Posts: 7,900
    edited March 2008
    dkg999 wrote: »
    Look for an auction house in your area that handles a lot of estate jewelry. They should have someone who can do an auction appraisel and give you a potential range that it would sell for at auction. This would give you one estimate of value and a place to sell it. I have a good friend who buys and sells antique and estate jewelry, mostly buying on eBay and selling via her antique booths. She would look to pay no more than 10% of appraised insurance value on the secondary market for any high quality piece. A diamond may be a girls best friend, but it's not a good investment unless you really know how to play that market.

    Good idea. Thanks.

    Wow, only 10% of insurance appraised value? That's not worth selling. On the other hand, it's the ring her ex-husband gave her, so there's probably very little sentimental value in it.
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    "God grooves with tubes."
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  • hockeyboy
    hockeyboy Posts: 1,428
    edited March 2008
    Can she make it into a necklace? My buddies ex made hers into a pair of earrings and matching necklace. It came out great!
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  • Early B.
    Early B. Posts: 7,900
    edited March 2008
    I wonder if she'd make more money on the sale by selling the 3 carat diamond separate from the band?
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    "God grooves with tubes."
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  • brettw22
    brettw22 Posts: 7,623
    edited March 2008
    I'd say melt it down and make something else out of it........

    It's at least not the same form factor as what the ex gave her and it could be something new.
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  • SKsolutions
    SKsolutions Posts: 1,820
    edited March 2008
    Have it certified. It's a start.
    -Ignorance is strength -
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  • danger boy
    danger boy Posts: 15,722
    edited March 2008
    if she sells it on Ebay, use an escrow service... there are to many things that could go wrong with the payment on something of that value.
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  • SBrown712
    SBrown712 Posts: 202
    edited March 2008
    My suggestion, if the appraisal she has is more than 5 years old get a new one . Then get a safety deposit box if she doesn't already have one. Run an ad in the local paper, craigslist whatever you have locally. List the appraised value as XX,**** sell for YY,YYY. If you get response have the buyer meet her at the bank to see the ring.
    The auction/estate sale is a good idea as long as you can set a reserve. She will usually get a better price dealing with an individual than a store.
    I know there are places that will buy diamond jewelry, google to find someone. There's a guy in Indiana that one girl that worked with me over the holidays sent her ring to. She was happy enough with his offer that she took it. Sorry but she left my work place and I don't have contact info.
    Someone said 10% above, I don't think that number is even reasonable. I would look for 30 to 40% of appraisal at a minimum. Can you provide a description of the diamond?
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  • danger boy
    danger boy Posts: 15,722
    edited March 2008
    I would not use Ebay for a large ticket item like that.. their fees would make me sick. you're talking several hundred $$$ in EBay fees alone. Money that could otherwise go to you. I guess an auction house will take a chunk too huh?
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  • furball
    furball Posts: 234
    edited March 2008
    Second the idea.

    Melt it down and cast it into a cube or a ball or any simple geometric shape, or just a simple coin. It's kind of fun having one of those gold trinkets around.

    brettw22 wrote: »
    I'd say melt it down and make something else out of it........

    It's at least not the same form factor as what the ex gave her and it could be something new.
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