Author Topic: What to do with diamonds?  (Read 1862 times)

KaleidoscopeHarmony

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What to do with diamonds?
« on: January 03, 2015, 04:12:03 PM »
I recently posted about our huge amount of credit card debt:

http://creatingmykaleidoscope.com/2015/01/03/confronting-the-credit-cards/

My question is regarding a loose diamond that we've had for approximately ten years.  Way back when my husband was looking at engagement rings he put a deposit down on one at a store in the mall.  He ended up buying my ring from a different jeweler (acquaintance of my family).  The mall jeweler wouldn't refund the deposit; instead, they gave him a loose diamond.  We had planned to use it, eventually, in some other type of jewelry, but could really use the money.  I believe it was for a $250 or $500 deposit.

So, what is the best way to get cash for a diamond?

FIRE47

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Re: What to do with diamonds?
« Reply #1 on: January 04, 2015, 05:36:41 AM »
As part of my mustachian conversion i had recently taken to selling some old jewellery, and it was an eye opening experience. It is not at all a good store of value and if you have a piece of gold/silver or diamond jewellery expect to get 10% - 20% of retail back as scrap. Small stones many jewellers will not even take as the simply have so many and are able to get them so cheaply.

What the jeweller valued the stone at i would be surprised if you  are offered  more than 50 for a stone that retails for 250. That being said i would look online as there are some  players in this space that will purchase stones. If the stone retails for 500 local jewlers will definitely make an offer of some kind on a stone that size.  Just dont expect it to be 500. Likely closer to 100.

chasesfish

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Re: What to do with diamonds?
« Reply #2 on: January 04, 2015, 05:55:58 AM »
Check into the price to get the diamond graded/certified, then ebay it.

LadyStache

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Re: What to do with diamonds?
« Reply #3 on: January 04, 2015, 07:46:41 AM »
Try selling on idonowidont.com