Buying 2Nd Hand Diamond Advice

[crisgal]

With Some of the money left by my mum-I have decided to buy a diamond ring, I love my good quality costume jewellery but don't own a diamond. (She always said she would get me a 'real' one when she won the lottery, -but she never did bless her!)
my husband has talked me into it actually,and Although it does seem very extravagant, it Would be passed on to my daughter and would represent my lovely mum.

I like the idea of a 2nd hand, older ring that Once meant something to someone else. I know that good diamonds Show all colours when they sparkle but how do I tell a good one?
AM I allowed to ask the jewelIer to borrow his looking-through thingy?!
Hah!

[Tilly2]

Go to a good jewellers that sells second hand jewellery. They will explain about The four 'C's, Colour, Clarity, Cut and Carat. They will allow you to have a look through their little looking glass thingy.

[Tilly2]

..............and If you can, buy a certified diamond. That's the fifth C

[shoota]

I'd suggest an auction where the dealers buy there stock.
If you go to a viewing day the auction staff will be able to assist with any queries without any axe to grind.
Some Victorian/Edwardian jewellery is gorgeous but dealers don't want it as it isn't fashionable and often can be won for a good price.
Just choose a reputable auction house and don't forget there is a premium to pay on top of the hammer price when setting your limit.
My mum used to buy her jewels this way.

[Tilly2]

When you have bought whatever you buy, don't forget to have it insured separately on your house contents insurance.

[shoota]

Don't know if you're anywhere near Surrey.....
http://www.wellersauctions.com/fine-art-jewellery-antiques/auctions/thursday-28-friday-29-november-fine-art-jewellery-antiques.html#!/categoryaj=157&dir=desc&no_cache=true&p=1

[crisgal]

sadly no, I'm in Lancashire!

[Tilly2]

Thanks for the best answer, crisgal. Enjoy your diamond.

[Psybbo]

Shoota, while you're there......
Apologies crisgal, enjoy your diamond x

[EDDIE51]

2nd hand jewellery is very good value. new jewellery has a minimum 100% mark up from the actual value. For example a piece on sale at £1000 is actually worth £500 max.

[askyourgran]

I've always bought second hand diamonds, purely because I prefer the way the older diamonds were set and cut. White diamonds look better, I had one ring that had a yellow tinge to it and I ended up trading it in for another. Go to a reputable jewellers shop or pawn broker ask to see unredeemed pledges, and ask to borrow the loupe (looking glass thingy). Most diamonds are not perfect you may see a small black speck, but if you see a lot of little black specks in the diamond don't buy it, the stone has imperfections.

[FredPuli43]

I have never bought new jewellery for anyone. I always buy in auction. As a rough guide, jewellery at auction fetches one third of retail price. Do not go way above the auctioneer's estimate. Do not sit in the front row to bid; stand, or if you must, sit, at the back. Do not sit with your wife or partner. On preview "viewing days" good auction houses will have their specialist available to advise you what to look for in each lot you like, and tell you why one is estimated differently from another.

Christmas, and the weeks just before, are not the ideal time to buy, because a lot of private buyers are in and even the dealers will pay a bit more, but if you stick by the above guidelines you'll be all right. And even if you go to twice the estimate, because you think the piece is a 'must have' you'll still be buying at less than retail.

[crisgal]

Thank you. That's good advice. I wasn't going to go before Christmas. I've found a good website explaining the 4 Cs and have a much better idea now. X

[FredPuli43]

Good luck! The biggest auctioneers for antiques and jewellery in Lancs are Capes, Dunn in Manchester. You can bid online through the auction house or through thesaleroom . com. Their site lets you listen to the auction in progress; it's almost like being there. Don't know what your budget is, but even Bonham's and Christie's, in London, have jewellery lots for a few hundred pounds in their regular sales, also online; of course, those houses sell items for hundreds of thousands or in millions too, but those sales are marked out as special. Their bread and butter is in much less valuable lots.

With those houses, you can buy blind. If the room thinks the item is worth even twice the estimate you are probably still safe, but it is better to stick to top estimate and no more than 50 per cent above. They will provide you, online, with a condition report so you can see what is right and wrong with the piece. Local auctioneers often provide the same service online or in person.

[FredPuli43]

I should have added that you can also book phone bidding, subject to the house's rules; they won't accept bids if the lot is only estimated at £50 ! Then, wherever you are in the world, you have someone who will telephone you bef0re your lot comes up and will bid in the room for you and you will hear the progress of the sale, and get a bit of back chat from your person while you are waiting. My personal record is phone bidding for ceramics, on a mobile, when the sale was in San Francisco, but you may not be that keen. But it works the same whether you are 20 or 6,000 miles away. (I bought the lots cheaply too, because the American market did not value them as highly as Europeans or I did)

[FredPuli43]

Yup, Sharon, that's helpful. Few diamonds in the UK are certificated; we gp by the auctioneer's description and our own eyes. We get some in auction certificated by the gemmological institute in Geneva or the like, and if you are bidding for those you are looking at quite serious money; last one I bid for fetched over £30k +commission (about $45k ) and that was 20 years ago for a single stone unset (and one of a pair). Should have kept going; stones of top quality have been a fantastic growth market.

[FredPuli43]

Oh, the post by 'sharon' has been removed as advertising. Never mind.

[crisgal]

last time I swotted up on a subject so much-I was sitting my 0'levels!
I am currently boring the pants of my husband about clarity codes, tables and angles of light refraction!
I will Check out that auction site. thank you.
I have seen a stunning ring at a local diamond specialist, but it's clarity is 'p3' so will need to go and look. x

[crisgal]

Sorry - I meant I've Seen the ring on their website.

[DaisyNonna]

Lovely idea to remember your mum. Does not have to cost a fortune, as long as it is something to your taste. I have my grandmother's engagement ring, (1914), fairly wide band with three tiny diamonds set flat in it. Would not have cost a great deal when new (grandfather was a coal hewer) but it is very pretty and I wear it always.