Selling a very expensive diamond advice needed

spidermaaaan

I have a ring that is insured for a 4 figure sum. I want to sell it but am scared of eBay in case I get caught out by a scammer. How do I sell it safely without getting ripped off?

soolin

spidermaaaan wrote: »

I have a ring that is insured for a 4 figure sum. I want to sell it but am scared of eBay in case I get caught out by a scammer. How do I sell it safely without getting ripped off?

Unless you are very experienced with ebay I suggest you try a high street jeweller or a bricks and mortar auction house.

Mojisola

spidermaaaan wrote: »

I have a ring that is insured for a 4 figure sum. I want to sell it but am scared of eBay in case I get caught out by a scammer. How do I sell it safely without getting ripped off?

Don't expect to get anything like the insurance value when you sell it.

mrcol1000

You may get lucky and sell to a genuine buyer. You'd probably get more than selling to a dealer or through a auction house. However there is a good chance this would go horribly wrong and is not worth the risk of the extra money you will get. As Soolin says try a dealer who'd give you at least risk free cash or an auction house.

There are loads of auction houses out there and many have specialised auctions that they can put the ring in to get the best chance of a good price.

StumpyPumpy

I would suggest taking it to a jewellers that sells second hand and antique rings and at least get it valued before you decide what to do. Rings devalue massively compared to the "new" price.

Ebay is full of rings that sold for £500 than claim a "retail" price of £3000. Obviously, this does not apply so much if you have had the ring valued as vintage to begin with, but a reputable jeweller will price it up based on stone size & quality and precious metal content and should be able to give you a ballpark figure, just remember that you can always say no to any offer and walk out of the shop if you want.

SP

Preciselyme

As per StumpyPumpy - good advice get a proper valuation from a jeweller for selling purposes. With this you can decide what you really want to do. I stupidly bid at an online auction without doing a full analysis and placed a bid. The valuation was very high and the certificate was by a company that I now find to have a reputation for over values. The stones were clarity enhanced which is a process I was not aware of as I last bought diamonds over 30 years ago. When I saw this I dropped my maximum bid to as low as I could which was just above the next lowest bid and hoped to be outbid. The day before the auction ended I was outbid and so relieved. However, the auctioneer/seller rejected the higher bid and I was left as the winning bid and had to complete. Sounds like a real scam to me - so be aware - online auctions are a minefield - especially the timed auctions. The live auctions would be the best place to sell and where you are present in the auction.