Hi, I have a nice diamond ring from a relative who passed away. I have been told that it is allegedly worth several thousand dollars. I know a jeweler will probably only pay wholesale, but what do you think is the best way to get the highest price possible for it?
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I'll warn you that most people I know who have tried to sell diamond rings have been disappointed in what they were ultimately able to get for it.
You could try eBay or Craigslist - I'd let any potential buyer know that you're willing to have the ring inspected/appraised by a jewler. (And if for some reason you find a local buyer on Craigslist, please be careful with how the transaction is set up!)
But unless you find a private buyer, you may be stuck with a jewler.
4211 Talmadge Road
Toledo, OH 43623-3505
I sold a pen that was worth some coin. I got a fair price and they explained everything to me. When I left I felt like I was treated fairly. I will go back to buy.
Leo Marks on Secor. Very nice people, treated professionally. Some places make you feel like scum when selling jewelry but they were very nice and explained their pricing.
I would go to a couple different places and ask them for a written value of the ring. Say it is for insurance purposes if you want. They might want a couple bucks to look at it, but at least you have it in writing from a couple places. I shop at Jensen's 4481 Monroe Street. Locally owned and you can see they actually make items there on site.
Get an appraisal from a reputable jeweler, such as David Fairclough or Jensen's. Two appraisals would be best, I suppose. After that, sell it on eBay if you feel up to dealing with eBay bidders who'll try to rip you off and the incredible amount of spam you'll get. You could also take it around to the various pawn shops, but it's likely you won't get anything close to a fair price from a pawn broker.
Fine jewelry usually isn't fine; it's an heirloom. Diamonds are literally as common as dirt - De Beers has a monopoly and keeps the prices artificially inflated.
Barrows Jewelers on Glendale, right next to Wixey Bakery.
Excellent people in there, doubt they would do you wrong.
Thanks for the info, I will pursue the suggestions!