How to sell an old diamond ring

Dates from the 1940s, I believe. The stone is a round cut, 2/3 carat, very good quality (or so I’m told).

How do you go about getting a fair price for such a thing? (Is this even possible?)

No idea about diamond value but in terms of selling them this a Jezebel articlehad this amusing video and this was for a new one.

“Have You Ever Tried to Sell a Diamond?”

You could try eBay.

Have it appraised by a gemologist and then just sell it on Craigslist or to any jeweler that offers anything for it. It sounds stupid but used diamonds aren’t worth nearly as much as “new ones” in general unless you are talking about something like the Hope Diamond.

The whole diamond industry is built around current fashion, exploitation and a whole bunch of lies. The demand for “used” diamonds just isn’t that high especially if they are smaller than a carat and have an older style cut. For example, my ex-wife decided to sell her $6000 1.2 carat engagement ring with really good cut, clarity, color and carat (the 4 C’s) and the most she could get was just over $1000. The thing was less than 10 years old, in perfect condition and could easily be reset into a different band. Never again. :smack:

I sold a diamond tennis bracelet on Craigslist with an appraisal of $9,000 with an asking price was $3,000. The ad indicated that the bracelet would not leave my possession until the time of sale and also I would meet the interested buyer at any reputable local jeweler of their choice. I knew that any serious/smart buyer would also want another appraisal.

The buyer’s appraisal came in at $12,000 and I happily accepted the $3,000 because the amount of an appraisal is limited to allowing insurance companies to set premiums on specific jewelry policies and has little bearing on a realistic resale value.

I know a couple that got married by an Elvis impersonator in Vegas. They had a ring, but there was a guy who was at the chapel trying to sell one. He had a sob story; he’d been trying to sell the ring for two days. Seems like a good location, though.

Or Craigslist.

I tried doing this with my mother’s engagement ring. I went to where it had been initially bought. They offered me a substantial merchandise credit for it. I turned it down because I’m really not a jewelry person, much less a precious gem type (says she who refused an engagement ring herself).

So yeah, it’s in the safe deposit box along with everything else.

Don’t bother. Diamonds are not rare or valuable. The only reason they cost so much int he jewelry store is because of the mark-ups along the way. We tried to sell a diamond of my wife’s when things were a little tight about 10 years ago. A .66 caret set in white gold with two matching sapphires. It was about $2k new I think. The best offer we got was less than $100.
About the only old jewelry that is worth anything is if it has a setting from a famous house. Only then you are paying for the collectability and not the stone.

The value of diamonds don’t increase linearly based on size. There’s a huge jump from diamonds under 1 carat to 1 carat or more, and this keeps on going as the diamonds get bigger. Diamonds under 1 carat just aren’t worth that much because there are so many of them. Jewelry in general isn’t worth more than it’s materials, and small diamonds aren’t worth much as a material. As already mentioned, the appraisal value of jewelry is for insurance replacement costs, not the inherent value of the jewelry. You’d probably do well at any legitimate pawn shop as anywhere else in selling jewelry, and you’ll probably be disappointed in the offer you get. An engagement ring can be worth the world to the woman who receives it, but not much to any one else. I’ve bought a lot of jewelry for my wife, and my advice is to spend your money on gold and large stones, but not diamonds. If you can’t afford much just get smaller stuff that looks nice and doesn’t cost much. Get cubic zirconium instead of diamonds. What it looks like is the value of jewelry and inexpensive pieces can look just as good as the costly ones that don’t retain their value anyway. I remember as a little kid hearing a woman on TV say “If Liz Taylor wears paste people will think it’s real diamonds, if I wore a 2 carat ring everyone will think it’s glass”. I had to ask my mother what ‘paste’ was (old fashioned fake diamond), but it’s true, I’ve heard people comment about a young woman’s big engagement rock and they’ll say behind her back that it’s not a real diamond even though they have no idea if it is or not.

When my grandmother died, my mom offered me one of her diamond rings. I didn’t want it because, first off, I don’t wear any rings but my wedding band, and second, I’d never seen my grandmother wear that ring, so it didn’t have any sentimental value to me. It had 4 diamonds in it, none particularly big. My mom got it appraised - $300 - and gave me the cash. I turned it over to my daughter who was in college at the time.

I’m sure my grandfather spent lots more than $300 on the ring.