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Started By
Message
Best way to go about selling an engagement ring?
Posted on 4/23/19 at 11:43 am
Posted on 4/23/19 at 11:43 am
I figured I'd come here rather than the OT...my hope is the number of condescending posts will be cut in half 
I wanted sell my ex's engagement ring and wedding band but I've seen a ton of different opinions on how to do it to maximize my returns. We broke things off a little over 2.5 years ago and I put the ring in my safe and hadn't thought much about what to do with them since until now.
I have a few home improvement projects I'd like to get done and with my savings and investments lined outta where I like them, I figured I should go ahead and sell the ring and band and see what I can get for them.
I'm fully aware I won't get back what I paid for it all (which is a big kick in the nuts, but divorce would've been a bigger financial pitfall so I'm ok with that). Does anyone have experience selling a ring or any suggestions on what I might do to get as much back as I can.
And no, no pics of the ex but maybe this chick will suffice:
I wanted sell my ex's engagement ring and wedding band but I've seen a ton of different opinions on how to do it to maximize my returns. We broke things off a little over 2.5 years ago and I put the ring in my safe and hadn't thought much about what to do with them since until now.
I have a few home improvement projects I'd like to get done and with my savings and investments lined outta where I like them, I figured I should go ahead and sell the ring and band and see what I can get for them.
I'm fully aware I won't get back what I paid for it all (which is a big kick in the nuts, but divorce would've been a bigger financial pitfall so I'm ok with that). Does anyone have experience selling a ring or any suggestions on what I might do to get as much back as I can.
And no, no pics of the ex but maybe this chick will suffice:
11
Posted on 4/23/19 at 11:52 am to BamaMan45
if it were me i'd put it on consignment with a jeweler...unless you really want to deal with the deal-shopping genpop
Posted on 4/23/19 at 11:55 am to cgrand
We need more details OP. What is the metal, how big is the stone, etc.? You may be able to sell the metal and then sell the stone separate.
Part of the problem is almost no one wants to buy a used engagement ring unless its super cheap or custom.
Part of the problem is almost no one wants to buy a used engagement ring unless its super cheap or custom.
Posted on 4/23/19 at 12:06 pm to BamaMan45
I went through a similar experience 5 years ago. Your best bet is to hit the streets. I visited nearly 10 stores one weekend. Received offers from half of them...of course they all low ball. My stone was GIA and pretty good quality and got 50 cents on the dollar.
Posted on 4/23/19 at 12:11 pm to Disgeaux Bob
quote:
My stone was GIA and pretty good quality and got 50 cents on the dollar.
I don't feel like that is that bad honestly. If you add a profit margin and risk for buying a used piece of jewelry with lower resale value, that's better than I'd expect most to get. Now maybe they won't advertise it as "used", but I'd be surprised if they could expect to get 80% of what they would for a similar new ring.
Posted on 4/23/19 at 12:45 pm to BamaMan45
insure it......then lose it.
Posted on 4/23/19 at 1:04 pm to BamaMan45
check Out
Www.idonowidont.com
Pretty good resale site
Www.idonowidont.com
Pretty good resale site
This post was edited on 4/23/19 at 1:06 pm
Posted on 4/23/19 at 1:48 pm to BamaMan45
Start with the jeweler you bought it from, bring it around to different shops, get them to make you an offer.
By the way, not only will I not make a condescending post, but I will congratulate you on not acting emotional in the moment, and instead, allowing time to pass before selling it.
By the way, not only will I not make a condescending post, but I will congratulate you on not acting emotional in the moment, and instead, allowing time to pass before selling it.
Posted on 4/23/19 at 1:52 pm to BamaMan45
Keep and trade it in on your next engagement. Jewelers usually accept prior purchases from their store and put towards new purchase.
Posted on 4/23/19 at 2:03 pm to baldona
quote:
I don't feel like that is that bad honestly. If you add a profit margin and risk for buying a used piece of jewelry with lower resale value, that's better than I'd expect most to get. Now maybe they won't advertise it as "used", but I'd be surprised if they could expect to get 80% of what they would for a similar new ring.
Diamonds have an identification number etched into them… Typically on the edges and only visible by microscope. This enables their credentials to be verified and sales history to be tracked. If they knew it, most women would not want a secondhand diamond. There is some bad karma that goes with purchasing a diamond that didn’t work out for someone else. It wouldn’t bother me but there are those that would rather have something brand new. The jewelry store will use this against you in your negotiation process.
Posted on 4/23/19 at 2:45 pm to Disgeaux Bob
quote:
Diamonds have an identification number etched into them… Typically on the edges and only visible by microscope. This enables their credentials to be verified and sales history to be tracked. If they knew it, most women would not want a secondhand diamond. There is some bad karma that goes with purchasing a diamond that didn’t work out for someone else. It wouldn’t bother me but there are those that would rather have something brand new. The jewelry store will use this against you in your negotiation process.
DeBeers has spent millions of dollars in marketing to make women believe that a used diamond is basically worthless.
Posted on 4/23/19 at 3:06 pm to baldona
quote:
We need more details OP. What is the metal, how big is the stone, etc.? You may be able to sell the metal and then sell the stone separate.
Part of the problem is almost no one wants to buy a used engagement ring unless its super cheap or custom
I know, and that's why I figured this was a more delicate process than, for example, selling something like a car or boat.
As far as the details go:
1.13 Carat
Cut: Excellent/Ideal
Color: H
Clarity: SI1
Certified by EGL
The band itself is 18k white gold with melee diamonds around it that weight a total of 0.95K. They are G/H in color and S1 clarity.
The wedding band is also 18k white gold with 0.10k total melee diamond.
This post was edited on 4/23/19 at 3:08 pm
Posted on 4/23/19 at 3:12 pm to Finch
quote:
check Out
Www.idonowidont.com
Will do, I appreciate the link. I'd never heard of that site before but it looks pretty easy to use.
quote:
Start with the jeweler you bought it from, bring it around to different shops, get them to make you an offer.
By the way, not only will I not make a condescending post, but I will congratulate you on not acting emotional in the moment, and instead, allowing time to pass before selling it.
Thanks man, I actually really appreciate that
It's never fun to go through a situation like that, but I just felt it was best to let things pass and be rational about it. Worked out for the best for both of us really. quote:
Keep and trade it in on your next engagement. Jewelers usually accept prior purchases from their store and put towards new purchase.
That's not a bad idea at all. Though, knowing me, I might be holding that ring for another 10 years waiting to trade it in
This post was edited on 4/23/19 at 3:15 pm
Posted on 4/23/19 at 3:32 pm to BamaMan45
See if you can work out a trade for a nice Rolex, which would be easier to sell if you choose.
Posted on 4/23/19 at 6:32 pm to BamaMan45
So if you purchase a graded GIA diamond and have the certificate for that diamond then you are much better off than any other graded diamond.
Posted on 4/23/19 at 8:20 pm to BamaMan45
How much you want for it and what’s your location?
Posted on 4/24/19 at 8:11 am to indytiger
Nm
This post was edited on 5/2/19 at 8:55 am
Posted on 4/24/19 at 8:15 am to wickowick
quote:
So if you purchase a graded GIA diamond and have the certificate for that diamond then you are much better off
than any other graded diamond
Yeah, I didn't realize this until after I purchased the ring. I kept all of my EGL paperwork though and I've read that it's comparable to the GIA grading scale, they usually just lower the color and clarity by a grade or 2 when compared to GIA. At least that seems to be the general consensus on GIA vs EGL
Posted on 4/24/19 at 8:53 am to BamaMan45
GIA brings top dollar because of the strict grading, the other grading systems grade softer. Depending on the price point of the stone, you probably want a less knowledgable buyer, perhaps craigslist or facebook marketplace.
Posted on 4/24/19 at 8:53 am to brass2mouth
quote:
See if you can work out a trade for a nice Rolex, which would be easier to sell if you choose.
Definitely this. If you want to maximize the return, go to the original jeweler and trade it in for something like a really nice watch. The jeweler will give you more credit than a cash sale, and then you can sell a Rolex for closer to the value.
Example:
Ring cost $10,000
You might get $4000 for it.
Rolex costs $8000, Jeweler does even trade
You can get $7000 for the watch easy.
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