How to sell jewelry?

onewhippedpuppy · 04-01-2009, 04:43 AM

Anyone have any tips? My mom gave me a women's ring that my dad received as a sales award 20 years or so ago. She's never worn it, and my wife doesn't want it. My mom had it appraised just before giving it to me, supposedly it's worth $1450. The damn thing is basically brand new. I posted pictures of the ring and a scan of the appraisal on Craigslist, all I received were 2 scam emails. I'm asking $725.

Any tips? Asking too much? We have no use for it, and I'd like the cash to throw at my student loan debt.

Ad here: http://wichita.craigslist.org/jwl/1090756494.html

DasBoot · 04-01-2009, 04:51 AM

Should sell for around $250 (jewelers appraisals are notoriously high, as they assume you are getting the piece insured) but you won't get that on Craigslist. Bring it to a local jeweler and see if they have a consignment set-up.

stomachmonkey · 04-01-2009, 04:55 AM

Pull the diamonds and have a set of earrings and maybe a nice simple stylish necklace made for your wife.

Mo_Gearhead · 04-01-2009, 05:44 AM

Because of HIGH gold prices, a well known Springfield MO. jeweler is buying such pieces. They say they will beat any pawn shop/gold buyers price (because that is their business).

Perhaps a local jeweler in KS. does something similar?

A few calls maybe?

Quote: "jewelers appraisals are notoriously high"

True dat.

onewhippedpuppy · 04-01-2009, 05:56 AM

Quote:

Originally Posted by stomachmonkey

Pull the diamonds and have a set of earrings and maybe a nice simple stylish necklace made for your wife.

She's not real big on jewelry (thank God). I think the cash would make her happier. But only $250?

I'll call some jewelry stores and try to find out who buys this stuff, short of a pawn shop. Maybe I should send it to "cash for gold"?

DasBoot · 04-01-2009, 07:22 AM

Quote:

Originally Posted by onewhippedpuppy

Maybe I should send it to "cash for gold"?

As the ring is considered an "alloy" (14k white gold), you won't get much for it gold-wise.

I think a jeweler will be your best bet. They will offer you less than $250, though.

Danimal16 · 04-01-2009, 08:16 AM

Anyone ever sell a Rolex? What is the best way to sell one of these watches?

on2wheels52 · on2wheels52's Garage

Matt
From a cold-hearted pawnbroker's perspective.
You've got seven 14 point diamonds (100/7). SI2 and worse is pretty far down on the clarity scale. On my diamond chart I see them listed for 40 to 80 cents/point (that's what I could get for them if the buyer doesn't find some other reason to price them even lower, and there is a long list of discounts). So the most I could wholesale the stones for is $80.
If you walked into my shop and wanted to sell it I would offer to pull the diamonds and let you keep them and just buy the gold, probably $30-60 depending on how much it weighs.
And would offer you a few other options to sell the thing for a better price than it's worth to me.
The typical appraisal needs to be devided by about 6.
I hope your Craig's listing has some results.
Jim

vash · vash's Garage

keep it for the kids. maybe they can break it up.

onewhippedpuppy · 04-01-2009, 08:45 AM

Jim, thanks for the perspective. Looks like it's not worth much.

stomachmonkey · 04-01-2009, 09:10 AM

Quote:

Originally Posted by Danimal16

Anyone ever sell a Rolex? What is the best way to sell one of these watches?

On a corner in Manhattan.

Hardly seems worth the $15 bucks that they go for new.

JavaBrewer · JavaBrewer's Garage

Matt, do you have a daughter? Get the ring cleaned and polished at your local jewelry shop and give to her on her 16th.

onewhippedpuppy · 04-01-2009, 09:20 AM

Quote:

Originally Posted by dmoolenaar

Matt, do you have a daughter? Get the ring cleaned and polished at your local jewelry shop and give to her on her 16th.

That will be in 14 years.

I know I could just hold onto it, I figured if I could get $500 or so the money would help. It's not like it has any sentimental value.

JavaBrewer · JavaBrewer's Garage

Look at what you would spend to buy a similar ring new. I would just hold onto it for the 14 years - trust me - they will fly by. Tell your daughter that it was from your Mom (ignore that Dad won it and she didn't like it) and your daughter will love it. Girls (except your strange wife

) LOVE jewelry. Think of it as pre-paying her sweet 16.

onewhippedpuppy · 04-01-2009, 09:39 AM

Quote:

Originally Posted by dmoolenaar

(except your strange wife

)

Shhhh, shut up! No jewelry makes gift giving much easier (and cheaper).

DasBoot · 04-01-2009, 11:31 AM

Quote:

Originally Posted by Danimal16

Anyone ever sell a Rolex? What is the best way to sell one of these watches?

"Sales Corner" @ www.timezone.com If it's nice and priced right, it will sell within minutes, if not an hour.

See: http://forums.timezone.com/index.php?t=threadt&frm_id=32

Or, you could PM me with what you have and I'll make an offer.

Danimal16 · 04-01-2009, 02:52 PM

Quote:

Originally Posted by DasBoot

"Sales Corner" @ www.timezone.com If it's nice and priced right, it will sell within minutes, if not an hour.

See: http://forums.timezone.com/index.php?t=threadt&frm_id=32

Or, you could PM me with what you have and I'll make an offer.

Let me get it out of the safe and take a look.

Dan