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That's interesting. I wonder if the same opportunity available to Sotheby's is also available to your average diamond consumer (minus a reasonable handling fee
by ghshephard 13y ago
That's interesting. I wonder if the same opportunity available to Sotheby's is also available to your average diamond consumer (minus a reasonable handling fee). I.E. If I go buy a Diamond for $1000, And Sotheby's sells it second hand for, let's say, $750, could I sell it to Sotheby's for $500?
I'd be interested in hearing what mechanisms exist for your average consumer to sell a diamond. There is quite an active market for second hand Gold, and the handling fees are quite reasonable. My understanding, from everything I've read, is that such a market does not exist for Diamonds.
- nailer 13y agoYes, you could. Most of the diamonds on offer were from deceased estates, sold by ordinary consumers.
- ghshephard 13y agoThe real question is, where the diamonds subject to a "reasonable" handling fee, or where they sold for pennies on the dollar to Sotheby's?