Quote:
Originally Posted by Bobcuse
I had a man's diamond ring to sell earlier this year so I went to Arden's Jewelry in LSL, Coast to Coast on 466, and to an independent appraiser in Mt Dora who does work for a California diamond exchange. All three explained the importance of the various factors used in establishing a fair market value and were pretty consistent in what they said but the offers ranged from $5000 to $7500. Then I went to The International Diamond Exchange traveling appraisers at the Hamton Inn and their first offer was $8500 and we settled at $9000 which was the best I could expect after getting a GIA report which eliminated any subjective opinions on carat wgt, etc. So my experience tells me that local guys place a high value on their convenience factor. I'm not so sure all the traveling road shows are any worse than our home town businessmen. If I do it again, I'll be patient and get offers from the outside folks as well as our locals. I believe I received a very fair price from the IDE folks, but not so much from the locals.
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It sounds like you were selling it to jewelers who recognized the value and fair market value.....and would be "re selling it" for a higher profit...................not melting it down for scrap.
That is a very high price you got.
Most jewelry is NOT as valuable as most folks believe it to be.