Best place to sell a diamond ring

Make_do_and_mend

I am not sure if this is the best place to put this request, but I have a diamond ring to sell that was bought for around £10 000. Where would be the best place to try to sell something like this and what would it be likely to realise?

Thanks in advance

cally6008

specialist auction or jewellers

DJDLP1

I don't know your location, but i would suggest hatton garden in london, there are a lot of specialist gold & diamond dealers there. It might be worth searching "hatton garden jewellers".
Hope this helps...

TonyMMM

A good auctioneer would probably be best - they would give you a realistic valuation, although many charge 15-20% of the sale price as commission if they sell it.

Gold/diamond dealers may only pay what they consider to be the "scrap" price. You may get a shock how little they offer - I saw a report recently where it said that the actual "value" of much shop bought jewellery can be as litle as 10-20% of the sale price !

zfrl

TonyMMM wrote: »

Gold/diamond dealers may only pay what they consider to be the "scrap" price. You may get a shock how little they offer - I saw a report recently where it said that the actual "value" of much shop bought jewellery can be as litle as 10-20% of the sale price !

Just to agree. The mark up on jewellery is very high.

skintbint_2

i would be taking it to a couple of auction houses and getting an idea what it would realise at auction, then possibly approaching a few jewellers, remember to point out if they had to buy at auction they also would have commission. if you do go to auction put a reserve on so it will make at least what you feel is acceptable. but as other posters have stated be prepared for a shock in what they offer - if you bought for £10k dont be surprised if they offer you nearer £2k on a good day

Kavanne

I'll buy it off you for £3k.

No srsly, because that is what you will get 2nd hand for it.