Amy asks: Several years ago I inherited a diamond ring that was appraised at about $5000. I am ready to sell this ring and of course I am hoping to get the highest amount possible. The problem is - where do I start? Any suggestions?

Well, most of the things I'm reading seem to be saying that you will never get the appraised value out of a diamond ring and you'll be lucky to get 50% of the retail value. A pawn shop might only offer you 10-15% of the retail value. As with selling most things, your best bets are going to be getting closest to the buyer as possible: ebay, an ad in the paper, local auction, or consignment. Which route you choose will depend on what you're most comfortable with.

From the first link below, here's a rough guide of what you can expect when you sell a diamond, depending on where you sell it:

1. RESALE TO THE PUBLIC (through the classifieds):Wholesale to wholesale plus 15-25%
2. RESALE TO FAMILY & FRIENDS (through word of mouth):Wholesale to wholesale plus 15-25%
3. RESALE THROUGH A MAJOR AUCTION HOUSE (on short term consignment):Wholesale neighborhood
4. RESALE THROUGH A LOCAL AUCTION HOUSE (on short term consigment):Wholesale neighborhood
5. RESALE THROUGH A LOCAL JEWELER (on mid term consignment):Wholesale neighborhood
6. RESALE THROUGH INTERNET AUCTION (through short term listings; Ebay):Wholesale to wholesale minus 10 to 25%
7. RESALE TO A KNOWLEDGEABLE ESTATE DEALER (for cash outright):Wholesale minus 35 to 60% (usually 40-50%)
8. RESALE TO A PAWN SHOP (for cash outright):Wholesale minus 70-80%

Sources:
http://www.pricescope.com/idealbb/view.asp?topicID=17953
http://www.pricescope.com/ubb/Forum1/HTML/000014.html
http://ask.metafilter.com/mefi/26608