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|I've Got a Diamond Ring, What's it Worth?|
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But What's it Worth?
Please Read This Carefully Before You Do Anything Else!
Free or Fee?
For the past 35 years, we have been getting callers asking the same question, and we're getting quite used to it by now. If you wish to pay and receive a professional service, we will be delighted to help. Our charges start at just 1.5 %, with a £5 minimum, plus VAT.
However, most people want our expert advice for free! The amazing thing is, that we go along with it, and do actually give out lots of friendly helpful advice for nothing. You might think to ask why we do something for nothing, after all if you wanted advice from your solicitor or accountant, he would charge you plenty. We also like to make a livelihood. We provide our free advice service out of goodwill, we hope you will go away happy, and recommend us to your friends and relations. Perhaps you will also come back to us if you decide to sell your diamond ring, or some other jewellery, scrap gold, etc. As we also sell coins and jewellery, we also hope you might be a future customer.
We don't mind playing the game, but we have a few rules which we like to see observed, otherwise we take our ball away:
You Won't Get What You Paid
Unless you bought your diamond ring many, many years ago, you are unlikely to get back what it originally cost.
Not Even Half
Compared with a price paid or valuation received within the past 5 or 10 years, you should not even expect to get half what you paid. Why Not? consider the following:-
Work This Out
Taking what you know from the above, and starting with a retail price of say £100.
First take off the VAT, leaving about £85, then take off the retailers profit, leaving between say £28 and £42. Next take off the manufacturers profit, leaving perhaps £21 to £38. Make an allowance for wear, tear or damage, also for changing fashions. Finally take a percentage off to tempt a cash-buyer second-hand dealer. How much does that leave?
Although we have assumed a retail price of £100, it's quite simple to work out a similar calculation for a ring at any other price.
Rule of Thumb
After reading the above, you will not be surprised to hear that we have a quick "rule of thumb" which will give you a rough and ready guide as to how much to expect. We tend to say about 10 - 15% of the valuation, or retail, price. We used to reckon about 25% to 33% but retail mark-ups seem to have increased in the past few years. Please don't use this as an absolute figure, it is only a guideline. In many cases, the second-hand selling price may be less than 25%.
Now for the Good News
We are always happy to buy better quality diamond rings at competitive prices.
If you have a diamond ring which you want to sell, and you know how much you want for it, you can contact us, although it is usually best to phone us or visit.
Selling Diamond Rings to Us
You may also find it useful to read our "Selling Diamond Rings to Us" page.
What To Do Next
If you would like to send your jewellery to us, we will happily make you an offer. We would ask you to send it to us, along with all the information you have and a covering letter explaining how much you would like to get for the piece(s) and a cheque for £10. Please ensure you include your contact details, especially your telephone number as we find it a lot quicker and easier to telephone you with an offer rather than spend time writing to you! If you accept our offer we will return your £10 cheque along with a cheque for your jewellery. If you decline our offer we will use the £10 cheque to cover our costs and the cost of insured return postage.
Jewellery as an Investment
If you are surprised or dismayed by any of our comments or reckonings about diamond rings, and you were labouring under the misapprehension that diamond rings were an investment, then you may also wish to read our page on that topic as well.
Buying Jewellery From Overseas
A page of advice for those tempted by jewellery bargains while they are in a holiday spending mood.
|...at the Best Possible Price|
32 - 36 Harrowside, Blackpool, Lancashire, FY4 1RJ, England.|
Telephone (44) - (0) 1253 - 343081 ; Fax 408058; E-mail:
The URL for our main page is: http://www.24carat.co.uk/index.html
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