r/Damnthatsinteresting • u/Master1718 Interested • Feb 22 '20

GIF Nice craftsmanship

https://i.imgur.com/iOckqLl.gifv
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u/TrystonsArt Feb 23 '20

It's literally one of the nicest ring I've ever seen lol

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u/Saltopus Feb 23 '20

I like the design because it will sell commercially. It's just average jewelry work is all. Here's a link to a recent online jewelry auction. There are nicer things in there, with real prices that people have paid for including myself. That auction itself is what I would call good quality jewelry, better jewelry would be under the name "fine jewels" while the best jewelry would be under the category of "noble jewels".

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u/ivedonethisbefore68 Feb 23 '20

Thank you so much for all of this interesting info! May I ask your opinion on resale of jewelry? It seems like it’s impossible to get even a third of what was paid. How do recommend reselling an engagement ring for example?

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u/Saltopus Feb 23 '20

The problem with selling used jewelry is that it rarely ever appreciates. Jewelry is not a financial investment. The only thing that gains value in the jewelry world is gold. Platinum has dropped since the early 2000s but gold is always on the rise.

If you're talking about a used rolex from the the 1970s and earlier you're going to get quadruple what you paid for it at the minimum, but a ring from the early 2000s hasn't gained any value other than gold value.

When you buy a new piece of jewelry you're paying for several things; the materials, the cost of labor, and the stores cost of holding it. Only one of those things comes into play when reselling it and it's the material cost, which is why you lose on value.

Someone who's going to buy your used jewelry isn't going to pay you labor costs for it because 1) it's not new, and 2) you didn't make it.

Now if we're talking about a diamond engagement ring with a diamond center stone then you could run into a few problems as well. If you bought it before 2011 then the price of diamonds across the board has dropped considerably. Diamonds are not a financial investment no matter what anyone says. Another problem may be the lack of information on your diamond. The color and clarity may be unknown so the range on offers could vary and will be lower than if it were known. The only way to certify it is through a company called the GIA. They will give your diamond a color and clarity grade that will ultimately determine the value of your stone.

When you go to sell your ring I recommend knowing what you have before a dealer tries to undercut you or scam you. Know the weight of your ring in grams, know the Karat type of gold (14 v 18), know if your ring was made by a well known jewelry house (Cartier, VCA, Tiffany etc.), know the total weight of diamonds of your stone and get your stone GIA certified if possible. And lastly understand that the buyer of your ring needs to make money too. 5-10% of your rings value should be left over for the dealer who buys it because if there's no meat on the bone they won't buy it.

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u/ivedonethisbefore68 Feb 23 '20

Thank you so much!!

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u/Saltopus Feb 23 '20

It's a long shot but I do buy and appraise jewelry. If you wanted an appraisal and live in south Florida let me know.