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Have you sold diamonds lately?
01-11-2011, 02:56 PM
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#1
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Dryer sheet aficionado
Join Date: Jan 2011
Location: Southwestern Connecticut
Posts: 37
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Have you sold diamonds lately?
Anyone have a positive experience with a particular company selling diamonds? Seems like practically everyone will buy your gold these days, but i'm having trouble finding a local outfit (CT) who buys diamonds, and i'm interested in unloading one.
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01-11-2011, 03:00 PM
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#2
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gone traveling
Join Date: May 2008
Posts: 3,864
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 Quote:
Originally Posted by fern
Anyone have a positive experience with a particular company selling diamonds? ... but i'm having trouble finding a local outfit who buys diamonds, and i'm interested in unloading one.
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haha's been posting a lot of marriage-related questions lately.... 
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01-11-2011, 03:25 PM
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#3
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Recycles dryer sheets
Join Date: Apr 2007
Posts: 491
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I think that you will find that diamonds are sold, not bought. Good luck.
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01-11-2011, 03:36 PM
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#4
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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If you are within a day trip of NYC, there is an entire jewelry district of people who would love to see you.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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01-11-2011, 04:00 PM
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#5
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Full time employment: Posting here.
Join Date: Jul 2010
Location: San Francisco
Posts: 816
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Diamonds are unfortunately not really worth much, the entire diamond industry is a marketing trick.
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01-11-2011, 04:07 PM
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#6
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Dec 2008
Posts: 11,719
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We have an internal "trading" forum at work. People are always posting used diamond jewelry at what they insist are "bargain" prices, citing "appraised value" as proof. (Some of the sellers' terminology is funny - "engagement ring with 3 carrots total weight," anyone?)
Their real aim is to sell it to some new sucker for just about what they paid for it themselves, or a bit less than Zales or Kay Jewelers sells it for new. I don't know how successful these sellers generally are, but the engagement ring ads rarely appear more than a couple weeks in a row.
Amethyst
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If you understood everything I say, you'd be me ~ Miles Davis
'There is only one success – to be able to spend your life in your own way.’ Christopher Morley.
Even a blind clock finds an acorn twice a day.
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01-11-2011, 04:09 PM
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#7
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2005
Posts: 16,175
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Quote:
Originally Posted by Culture
I think that you will find that diamonds are sold, not bought. Good luck.
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LOL.. that is what I was thinking....
And if you do get someone who will buy... they will tell you how crappy yours is and how little it is worth... and offer you 50% of the retail cost...
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01-11-2011, 04:33 PM
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#8
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2008
Location: NC
Posts: 19,339
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Quote:
Originally Posted by brewer12345
If you are within a day trip of NYC, there is an entire jewelry district of people who would love to see you.
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Also in Chicago since we don't know where you are...
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Retired Jun 2011 at age 57
Target AA: 50% equity funds / 40% bonds / 10% cash
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01-11-2011, 04:33 PM
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#9
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Thinks s/he gets paid by the post
Join Date: Oct 2004
Location: LaLa Land
Posts: 4,666
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Yeah, I think he's got it for the Freebird chick. 
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01-11-2011, 04:38 PM
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#10
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Moderator Emeritus
Join Date: Sep 2007
Posts: 17,768
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They get some nice appraisals on the Antiques Roadshow, which causes me to scream "Sell, sell!" at the screen.
Maybe get it appraised and then donate it for the tax writeoff.
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“Would you like an adventure now, or would you like to have your tea first?” J.M. Barrie, Peter Pan
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01-11-2011, 04:39 PM
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#11
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Recycles dryer sheets
Join Date: Dec 2008
Posts: 119
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Have You Ever Tried to Sell a Diamond? - Magazine - The Atlantic
Quote:
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Because of the steep markup on diamonds, individuals who buy retail and in effect sell wholesale often suffer enormous losses. For example, Brod estimates that a half-carat diamond ring, which might cost $2,000 at a retail jewelry store, could be sold for only $600 at Empire.
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01-11-2011, 06:41 PM
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#12
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Thinks s/he gets paid by the post
Join Date: Nov 2005
Location: North of Montana
Posts: 2,765
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Quote:
Originally Posted by Culture
I think that you will find that diamonds are sold, not bought. Good luck.
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From another thread
Quote:
Originally Posted by clifp
Most annuities in this country are sold rather than being bought. Generally, an insurance salesman, or financial "helper", invites you for a free financial consulting.
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Maybe it could be traded for an indexed annuity?
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There are two kinds of people in the world: those who can extrapolate conclusions from insufficient data and ..
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01-11-2011, 06:55 PM
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#13
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Thinks s/he gets paid by the post
Join Date: Sep 2009
Location: Hong Kong
Posts: 1,688
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+1 on all the comments bashing the diamond industry.
To add to the financial pain inflicted by the diamond industry is insurance - having to pay insurance premiums based on the inflated "appraised" value. The sad reality is that most people would be better off having their diamonds stolen rather than sell them.
Of course, if I tried to sell any of my wife's jewellery, she would probably put my kidneys on e-bay.
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Budgeting is a skill practised by people who are bad at politics.
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01-11-2011, 08:16 PM
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#14
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gone traveling
Join Date: May 2008
Posts: 3,864
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Quote:
Originally Posted by traineeinvestor
Of course, if I tried to sell any of my wife's jewellery, she would probably put my kidneys on e-bay.
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Buy one, get the second one free? 
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01-11-2011, 08:22 PM
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#15
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Thinks s/he gets paid by the post
Join Date: Nov 2005
Location: North of Montana
Posts: 2,765
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Quote:
Originally Posted by traineeinvestor
Of course, if I tried to sell any of my wife's jewellery, she would probably put my kidneys on e-bay.
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Sell one and never have to go back to work.
__________________
There are two kinds of people in the world: those who can extrapolate conclusions from insufficient data and ..
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01-11-2011, 09:43 PM
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#16
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Thinks s/he gets paid by the post
Join Date: Mar 2010
Posts: 1,973
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Several years ago....my 2 ct diamond was appraised by a jewelry store. The appraisal came back and the diamond had a crack in it (princess cut..crack under one of the prongs). It was insured. Interesting thing..that the store that appraised it then wanted to "replace" it for me when I received the insurance money. Of course they did .....but it made me suspicious...especially since I became suspicious as to how that crack got there.
So I took the insurance money turning the ring over to the insurer. It was the most I ever received for a diamond. I became so disenchanted with return on value for jewelry that I stopped buying it.
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01-12-2011, 02:52 AM
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#17
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Full time employment: Posting here.
Join Date: Apr 2006
Posts: 816
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Quote:
Originally Posted by Retch The Grate
Diamonds are unfortunately not really worth much, the entire diamond industry is a marketing trick.
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Amen. Which is why I do not waste my money on them. Don't get me wrong I like, scratch that, love bling as much as the next woman but the fakes have gotten so good I save my money and buy them instead.
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