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Message
re: who is paying attention to womens diamond wedding rings
Posted on 3/8/21 at 10:56 pm to Grievous Angel
Posted on 3/8/21 at 10:56 pm to Grievous Angel
quote:
Try selling it for that.
was going to post the same thing. Buddy of mine who makes plenty of money bought his first wife about a $25k ring. They got divorced in about 2 years. She was decent enough to return the ring, but he only got about 1/2 what he paid for it from the same place he bought the thing. They'll probably take the diamond off the setting and sell the same stone to someone else at full price.
1
Posted on 3/8/21 at 11:18 pm to lsufball19
quote:
he only got about 1/2 what he paid for it from the same place he bought the thing
Nope. I know something of this. You are lucky to get 30% value and 20% is more likely. First, the ring as jewelry isn't what they are buying. They strip out the stones and melt the ring. So it is valued at its spot metal price. Then they buy the stones from you at BELOW wholesale because they are going to turn around and sell the stones to a retailer at wholesale. There is a TON of mark up on diamond jewelry. Buddy is currently trying to sell a $25,000 appraised ring with a 1.8 carat center stone and some smaller stones. The best offer he has gotten, due to the market being down with COVID issues, is $4500.
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