Engagement ring with a beautiful diamond

[OlyaCherkalova]

Hello everyone,

I have a question - does anyone know how and where I can sell my ring? It was bought in New York for more than $30000, and since me and my bf broke up, I want to sell it. It's new, and it's beautiful, made from platinum. Here, in Pattaya, they want to buy for $3000. I'm not going to sell for the price lower than $10000. I'm sure I need to go to Bangkok for it. What do you think? If you have any info about Bangkok's jewelry pawns, please give me the addresses or any suggestions.. Thank you in advance! And have a nice day ?

[crazygreg44]

Dear Olya, American jewellers are known for charging an up to 600 % profit for their engagement in selling a piece of diamond jewelry to end customers.

You should know how much carat the diamond(s) contained with this ring have. A hint of that is maybe listed on the original invoice. If you do not have one at hand, you can go to a trusted jeweller or the Bangkok Gem's Tower, to have it tested and clarified, how many carat the diamond is, and how much clarity it shows. some parameters define the price of a diamond.

The platinum metal contained in a ring is of real low value compared to the actual value of the diamond. A ring usually does not contain more than 5-8 grams of metal. One gram of platinum sells for 50 Euros, and will be bought for less than 40 Euros per gram.

Regarding the offer of buying the ring for 3000 US Dollars, it might actually be a fair price.

You can check in Bangkok the area around the Gems Tower / Charoen Khrung Road. Where the Silom road connects to the Charoen Khrung, there is the "Bangkok Mint". It is an official, government controlled place. They can give you an accurate classification on how much the diamond is worth. Anyone interested in buying, only wants to separate the metal from the diamond . . . keep in mind your BF bought it for you and it has only idealistic value for yourself. A buyer just denotes the value of the diamond vs the value of the metal.

You should direct your complaints to thejeweller who sold the ring to you, for his exorbitant business sheme !! However, this is common practise in the west.

Only in Thailand, you can buy Thai Gold plus a diamond set into a ring, for a price that incorporates a smallish fee for the labour costs, a day-to-day market price for the metal, and a fair price per carat weight plus clarity for the diamond involved. Jewelry bought here can be resold anywhere in the Kingdom for a smallish loss. Not so for jewelry obtained in the west. You pay for the jeweller, not for the item.

Sorry to say but this is how it is.

Edited October 19, 2013 by crazygreg44

[OlyaCherkalova]

Thanks a lot for your honest answer ? anyway Im going to go to Bangkok next week so I'll check the area you recommended, thank you very much. I didn't expect such a fast respond ?

[Bpuumike]

Thanks a lot for your honest answer ? anyway Im going to go to Bangkok next week so I'll check the area you recommended, thank you very much. I didn't expect such a fast respond ?

If the mod gods allow, check out Thai Gemstones in the lobby of the Nana Hotel, Soi 4. Not the most salubrious location but been doing business with them for 16 years and they know gemstones.

PM if my name might help as a long standing customer

[johnbarpic]

Beauty is in the eye of the beholder sadly the first reply may be correct jewellery when sold second hand is always bought as scrap value even they intend to sell it on at a profit exactly the same in UK Also wish you all the best in selling. JBP

[fredob43]

I used to be in the jewellery game in Hatton Garden London.

Please let me inform you how jewellery is priced.

First there's the chap who sell's the diamond/stone + his profit.

Then the maker + his profit.

Setter man who put's the stone into the ring small but still there.

Followed by the wholesaler his profit.

Last but not least the shop they work on 3/400% profit at least.

Sale's tax + vat.

Doesn't take long to find that your so called expensive ring isn't worth as much as you first thought 10% of what you paid in the first place is about right.

You would do better selling to a private punter.

Sorry but that's how it is.

Edited October 19, 2013 by fredob43

[BngkkB]

You can go to AIG on rama 4 and get the stone specs by an independent. These people do not buy or sell diamomds but they certify them only. Its cheap and fast to do and then you have the FACTS about what it is you have exactly. Then you can get an apprasial from a couple of of different gem gus but the appraisal s should be very very close to each other. Then decide on the amount you will settle on and try to find a buyer. Sorry but jewlers on soi 4 and any where else will always be thinking how much they can make from the stone and sizing you up from the time you walk in to their shop.

http://www.aiglabs.com/

The above link will tell you more.

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[Mrjlh]

Aside from the excellent advice in going to the Gem Center for the apprasial, you can also try the Jewelry Center on Silom Road not far way. Upstairs there are several apprasial services. They will charge you for the service at each place but in the end it is well worth it. They may also have leads as to whom may be in the buying market. Although you will get a fair market value do not expect to get the full price given you. The buyer needs to make a profit too. But the appraisal helps. Also do you still have the original appraisal? Items made in America do get a better price in Thailand.

[Mighty Mouse]

Sell it back to your ex-boyfriend at half the purchase price. Everybody happy.

Edited October 19, 2013 by Mighty Mouse

[fredob43]

Aside from the excellent advice in going to the Gem Center for the apprasial, you can also try the Jewelry Center on Silom Road not far way. Upstairs there are several apprasial services. They will charge you for the service at each place but in the end it is well worth it. They may also have leads as to whom may be in the buying market. Although you will get a fair market value do not expect to get the full price given you. The buyer needs to make a profit too. But the appraisal helps. Also do you still have the original appraisal? Items made in America do get a better price in Thailand.

I think you are a bit amiss on the quote made in America better price, maybe a few year's ago but now some of the best jewellery in the world is made in Thailand.

Also a Diamond is a Diamond with the same wholesale price the globe over, no jeweller is going to pay for something he can get at the same price, as mentioned he needs to make a profit. The reason I quoted 10% leaving 5+% for him.

If you have the original paper work from the place you brought it they might give you a fair buyback price worth a try.

[Mrjlh]

I think you are a bit amiss on the quote made in America better price, maybe a few year's ago but now some of the best jewellery in the world is made in Thailand.

Also a Diamond is a Diamond with the same wholesale price the globe over, no jeweller is going to pay for something he can get at the same price, as mentioned he needs to make a profit. The reason I quoted 10% leaving 5+% for him.

If you have the original paper work from the place you brought it they might give you a fair buyback price worth a try.

If you have paperwork showing it was "Made in America" you will often get an unusally better price. Only because it is believed to be of better quality. You know and I know that is not always the case but try to convience a Thai. An apprasier worth his salt will know better and if she goes to one of the suggested centers she will find that out soon enough. There is the value of the materials used and then there is the value of the craftsmanship or design. An Appraiser will not include the latter only the materials. If her documentstion said Tiffiny's on it, it definitely will be more valuable!

design or craftsmanship. The appraiser will not include the latter.

[Baerboxer]

Hi Olya. There is some good advice from posters here on where to get the diamond valued. Just a thought - do you have the original certification for the diamond? This may help you to judge what the valuers say. It should show carat, clarity, colour, shape, etc.

Good luck.

[LennyW]

I know someone who sold a gold ring through the Facebook page, stuff for sale in Pattaya, you never know. https://www.facebook.com/groups/230908950357612/

[andyphuket]

I went to GIA to get some diamonds certified. Can't remember the cost but it was well worth the money.

Check out www.giathai.net

It's also in the silom area.

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[fredob43]

I think you are a bit amiss on the quote made in America better price, maybe a few year's ago but now some of the best jewellery in the world is made in Thailand.

Also a Diamond is a Diamond with the same wholesale price the globe over, no jeweller is going to pay for something he can get at the same price, as mentioned he needs to make a profit. The reason I quoted 10% leaving 5+% for him.

If you have the original paper work from the place you brought it they might give you a fair buyback price worth a try.

If you have paperwork showing it was "Made in America" you will often get an unusally better price. Only because it is believed to be of better quality. You know and I know that is not always the case but try to convience a Thai. An apprasier worth his salt will know better and if she goes to one of the suggested centers she will find that out soon enough. There is the value of the materials used and then there is the value of the craftsmanship or design. An Appraiser will not include the latter only the materials. If her documentstion said Tiffiny's on it, it definitely will be more valuable!

design or craftsmanship. The appraiser will not include the latter.

The Tiffany bit is all but useless unless it was made by them and has the paper work to say so it will also have a stamp/mark on the inside of the shank 'The band that go's round the finger' they often mark up tiffany on the paper work as that help's to sell something but all it mean's is that it's a Tiffany design normally the 'collet' that's the bit that hold's the stone/stone's.

At one time a Tiffany collet was used all the time in England as it sold better due to the name also it was the easiest to make believe it or not, worth more second hand not a bit. It only contained the same amount of gold/Plat worth scrap price and the stone valued by the 3 C's colour, clarity, carat. Unless you can find a private peep's that will buy it from you your left with a jeweller and they are never going to pay over the top no matter where it was made.

Just sit down with a calculator and have a work out. First take off the sale's tax then the mark up 300/400% then the other bit's I mentioned then see what your left with now deduct the mark up profit the buyer want's and that what it's worth.

It's the same syndrome as selling a second hand car better a private sale than a dealer.

Edited October 20, 2013 by fredob43

[crazygreg44]

not to forget, a lot of American Jewelry stores sell jewelry made in Thailand declared "their own design" so they can classify it as "Made in USA".

The design 's drawing might be the idea of an american jeweller, but from the wax model to the cast to the setting of stones, it is most obviously made in Thailand.

The biggest names in trade inside the USA buy in Thailand. Have you ever seen the hordes of agents on the Bangkok Gems Show ?

For OLGA, I appreciate there is very very good advice for you here by some posters. To have appraisers check your diamond and determine its value, no better advice as given in here.

I wish you good luck in trading the ring.

[thaicookingchef]

Hello,

Is it possible to know the names of some Thai shops that will sell only good quality diamond jewellery, even expensive ?

Thank you.

[petercool]

A few years ago I bought diamonds which were actually cut etc. in Thailand and was able to sell them in Australia at 200% profit so the likelihood of recouping an overseas value on diamonds back in Thailand is very slim indeed. It would make more financial sense to sell overseas.

[DLock]

Any jeweler is only interested in the diamond. He will junk the setting. Platinum is not in high demand in Thailand.

He will pay less than what he could buy a wholesale diamond for, assuming the diamond is not damaged, chipped or scratched.

Forget retail stores in Thailand. Your best bet is to hope someone on Ebay loves the setting and is willing to pay a fair price.

But I'd say your target of $10k is dreaming.

[Rimmer]

Just a heads up! This topic is nearly one year old

[Pattaya Lous]

Hello, I am looking to purchase a nice Engagement ring if I can see your ring I may be interested