My wife and I are getting divorced and we are trying to sell the engagement ring. The ring is certified and we spent just under $5,000 on it. The jeweler we purchased the ring from will not buy it back. What is the best way to sell an engagement ring (no engravings) and get the most money in return?
2007-02-22 01:44:34 · 9 answers · asked by tenente 1 in Business & Finance ➔ Personal Finance
The best way to get what it is worth is to sell it to a friend who is going to be engaged soon. Most rings I see advertised in the paper are advertised for around half of their value and I imagine you want to get more then half for your ring of course. You can try an estate buyer, but that might be a somewhat annoying and complicated process.
I'd call all of my family and friends that aren't married and see if they have interest. I'd probably ask them to pay me around $4,500 for it. Or I'd try to barter (possibly a barter + cash) for something expensive that one of you might need that a friend might have (car, major appliance like a HDTV, bedroom set, etc) or barter it for services that a friend might be able to provide (landscaping, substitute for all or part of the commission if the real estate agent selling your house is a friend, etc).
Engagement rings aren't very liquid assets, and most jewelry has a markup of two to four times its actual cost so you can't really expect to get what you paid for the ring out of it. This applies double for rings with diamonds as the main stone of value, as diamonds are so plentiful and common that they have little real value and only cost so much because the supply is artificially constricted (like OPEC and oil) and the marketing has made most people believe that they are essential for engagement rings.
If you can't sell it, why not keep it. Put it somewhere to remind you of the lessons you've learned during your failed marriage and how you want to do better next time around. That kind of reminder might be worth $5k.
2007-02-22 03:17:22 · answer #1 · answered by Anonymous · 1⤊ 0⤋
You should get 2-3 prices from different jewelers if possible. They will often offer more if they know you are shopping around. Pawn shops usually do not offer top dollar. Buyers like to examine rings before buying, so you are unlikely to get a good price on E-bay.
Unfortunately, there is a tremendous mark-up between wholesale and retail prices for diamonds. Expect to get less than half the retail price when selling.
Sources:
http://www.patmcnees.com/work39.htm
http://www.theatlantic.com/doc/198202/diamond/7
2007-02-22 05:13:48 · answer #2 · answered by Anonymous · 0⤊ 0⤋
A pawn shop will not give you very much money for the ring, but you will get if off your hands quickly that way. Try contacting an estate jeweler (not Kay or a mall jeweler) to see if they would be interested in buying the ring.
2007-02-22 01:54:23 · answer #3 · answered by Vakari 5 · 0⤊ 1⤋
You do not seem to live in Britain,We have jewellery shops here that buys and sells good jewelry, you would never get the price back you paid.Maybe the lady would like to wear as a dress ring! try advertisement in local newspaper.good luck for the future it is a heart rendering time for you both.
2007-02-22 02:44:35 · answer #4 · answered by mother 3 · 0⤊ 0⤋
Ebay would be starters. If you don't get a decent price there, try a pawn shop.
2016-05-23 22:51:39 · answer #5 · answered by Anonymous · 0⤊ 0⤋
You can put an add in the paper or just take it to a pawn shop.
2007-02-22 01:47:34 · answer #6 · answered by ? 7 · 0⤊ 3⤋
Put an add in the paper...
EBay...
Pawn shop..Yet you will get more monies by putting an add in the paper.
2007-02-22 01:47:31 · answer #7 · answered by Anonymous · 1⤊ 2⤋
try selling it through ebay.I haved had good luck with ebay.u usually get it sold for the price u want for it and sometimes even more-good luck.
2007-02-22 01:49:07 · answer #8 · answered by Baby Doll 3 · 0⤊ 3⤋
pawn shop or ebay.
2007-02-22 01:46:58 · answer #9 · answered by Anonymous · 1⤊ 2⤋