Advice on selling an engagement ring

[terk2021]

I think I have come to the realization that there is no hope in salvaging my relationship. Now, I am sitting with a ring that I am paying insurance on that I want to sell. It's a painful reminder to see it.

 

I called back the jeweler I bought it from, and they are going to check and see if they need the diamond like it. With this forum, I am sure many of you have gone through the same thing.

 

I just want to get rid of it. I am sure I will not get what I paid for it.

[Day_Walker]

I would start going to jewelry shops or coin shops because they usually buy rings. I doubt that you will get what you paid for it though.

[melrich]

Yes unfortunately if it is a diamond ring you can expect to only get about 40% of what you paid unless the diamond is of exceptional quality.

[LostInMyThoughts]

So I'm the same boat. This is what I heard (advice came from one of the founders of link removed).

 

Have the band melted down into something; then sell the diamond back to a reputable jewler.

 

As a ring, you won't get much money, but the band and the rock sold separately will be better.

[BeStrongBeHappy]

Sorry to hear about the relationship, it is always painful to break up with someone you thought you would marry.

 

you frequently don't get back the value, but some jewelry stores will let you trade the ring in on another purchase, if there is some other jewelry you want to buy for yourself, or your mother or whomever...

 

you could also put it into a safety deposit box and quit paying insurance on it since it is safe in a bank, then at some future time when it is less painful reminder to you, have it reset in a necklace or bracelet for a gift to someone else (or yourself). i got divorced and waited a few years, and reset my diamond into a great pendant for a necklace... all i see now is a really nice piece of jewelry, and don't really even think about that it is the same diamond that was in an engagement ring years earlier, because time heals all, and the breakup memory doesn't bother me anymore...

 

there's always Ebay, but you won't get as much... if you have an official appraisal though to show for the diamond when you list it, you might get more for it on Ebay... set a reserve limit equal to what a jeweler/pawn store might give you, and you just might get more for it if the appraisal justifies the price, probably somewhere between what a pawn broker would give you, but less than full retail value, which you'll never get...

 

too bad diamond rings are like driving a new car off the lot, but the same effect, the value drops substantially the minute you take it out of the store...

[Relationship Coach]

Get rid of it ASAP! Put it on ebay or sell it to a pawn shop! The bottom line isn't what it cost you, it's what it is costing you emotionally now! You know you will at best get 40-50% of what you paid for it, sell it and be happy it's gone!

 

RC

[friscodj]

I'm sorry this happening to you...

 

I would first try the place where you bought it. If they can't use it, see if they have connections to someone who could.

 

Then I would try Ebay. Have it appraised, state that it has been appraised, and set a reserve price on the auction so it doesn't sell for too little.

 

Expect at any rate to take a monetary loss, but you will get something for it, and expect to acquire an emotional gain once you get rid of it and the attached memories.

[terk2021]

I also heard it's possible to just put it in a safety deposit box, and trade it in on a different ring (when the time comes to put it on someones finger that deserves it). That's at least from where I bought it from...

[Budman]

When I bought mine I wheeled and dealed and I was able to return it till 1/15/07

 

Sadly, I have to do that today (return it )