Diamond ring, how much do you think it may be worth?
October 28th, 2007
openthepodbaydoors asked:
Hi, I have a one-carat, emerald shaped diamond ring — my mom’s old wedding/engagement ring. It was appraised for $5,000 many years ago, but now one jeweler says he would give $1,000. Should I keep looking around? Do you think it would be worth a lot more than that? Is Ebay a good option?? I am afraid I could wind up having to sell to a very low bidder.
Any advice would be great.
Hi, I have a one-carat, emerald shaped diamond ring — my mom’s old wedding/engagement ring. It was appraised for $5,000 many years ago, but now one jeweler says he would give $1,000. Should I keep looking around? Do you think it would be worth a lot more than that? Is Ebay a good option?? I am afraid I could wind up having to sell to a very low bidder.
Any advice would be great.
Jewelers will always low-ball you.
Diamonds are essentially worthless lumps of carbon. The market for diamonds is hyped by an evil bourse that makes it hard to get a new diamond cheap and an used diamond fairly appraised.
I would definitely keep looking around if I were you. But why would you want to get rid of something like that? You could make it an heirloom if you are able to have children. I wish I had something like like to pass along.
It depends on the diamond but I am sure that most diamonds are at lest over 100’s of thousands!!
it dont hurt to get a second opinion.
if you do sell it on ebay you can set it at a reserve price so if it dont sell for atleast that reserve price than you dont have to give it to them.
OK, any jeweler is only going to offer you the going rate or less of it’s value. The going rate is 25% of it’s value cause they want to make a good profit. I’m not a legal jeweler but I’ve done some studying on the subject. If the color and quality of the diamond is good, I don’t see why you shouldn’t get at least $3000 for that ring. Emerald cut isn’t exactly a common cut and a solitary diamond that5 size, even if it’s round is worth about $4000 wholesale or, that’s what I’d have to pay for one.
Put it on Ebay and ask $5000 for it but don’t settle for less than $3000. It would be in your favor to have it appraised, that would keep the price up and give you a better idea of how much to ask just don’t expect to get it’s true value, expect to get about half it’s value.