BEST PLACE TO SELL A DIAMOND ENGAGEMENT RING??

qvc chick · ‎03-10-2010

My sister broke up with her husband a few years ago, they are now divorced.

She has a diamond engagement ring that she would like to sell.

Any ideas on how to go about it? She knows he paid $17K a few years ago.

I know the rule of thumb is never to let the diamond out of your sight, if you take it to a jewerly store, because they can switch it.

She doesn't know where to begin!

rockygems123 · ‎06-04-2012

See if you can find a jewelry dealer that you trust and ask for the diamond value according to the Rapaport Report, known mostly as the Rap Report.

It's an international benchmark for value pricing on diamonds. Even as a dealer myself unless I sell retail pretty much whatever the rap report says is the value is what a jeweler will give you if not less.

Find out value online also, look on ebay under Completed Sold listings under advanced search and you'll get a good idea as to what people are willing to pay today for a similar product.

kaydee50 · ‎02-07-2011

Can't really suggest anything in particular. In selling my mother's diamond engagement ring, the price offered me was way below the appraised value and way below what the diamond would sell for.

Perhaps selling it privately and not through a jeweler would bring a better price.

Mombo1 · ‎11-02-2015

@qvc chick I can only comment on my experience. My local jeweler is the only one I would trust with evaluating the value of my diamond. I have known him for 25 years. At one point I thought I would sell my engagement ring. He agreed that it is a very nice diamond, but from what he is seeing today... the younger generation is not investing in natural diamonds. They are going with the lab grown ones mounted in gold or silver....putting their money elsewhere. Granted, it is not everyone...but the possibility of getting what I think the ring is worth was likely not to happen. So...I kept the ring. I also had it remounted. I would find a jeweler that your sister can trust and can speak to in person to see what direction to go.

Puppy Lips · ‎05-09-2010

When our son's engagment went south, he kept the ring. The jeweler had a policy that anything purchased there could be exchanged, giving the full purchase price, for something else. That worked out because when he found the right girl, she got a very nice ring at the same jeweler. It would be really nice if all jewelers had the same policy.

Always remember that you are absolutely unique. Just like everyone else. Margaret Mead

Mom2Dogs · ‎03-09-2010

When my niece split with her husband, I took her diamond to a jewerly store...they had an area that displayed vintage and consignment jewelry. It took a few months but it sold, and she got a fair price for the ring.

Does your sister have an apprasial on the ring?

Desertdi · ‎03-13-2010

Keep the stone...it's a good investment...

♥Surface of the Sun♥

reiki604 · ‎03-09-2010

I had my mother's engagement ring that was sitting in my jewelry box until I recently decided to do something with it. I went to a diamond and jewelry dealer and had the stone enrobed with diamond chips from another ring. I also traded in some old broken gold and ended up paying less than $400 for the neclase on a station chain with dimond chips as well as a gold paperclip chan with the stone from the roing on it.

'I refuse to engage in a battle of wits with an unarmed man'.......Unknown

jackthebear · ‎03-11-2010

@qvc chick wrote:
My sister broke up with her husband a few years ago, they are now divorced.

She has a diamond engagement ring that she would like to sell.

Any ideas on how to go about it? She knows he paid $17K a few years ago.

I know the rule of thumb is never to let the diamond out of your sight, if you take it to a jewerly store, because they can switch it.

She doesn't know where to begin!

get it appraised to know cut, clarity etc then research some prices. you are never going to get the price it cost

what about resetting it

Shanus · ‎05-17-2010

@qvc chick I inherited my Mom's 3 carat marquise engagement ring. No one in the family wanted it including me...I had my own nice ring.

It was appraised for $30,000, but no jeweler would purchase it for more than $6,000. They can purchase diamonds wholesale themselves at a very low price and don't need to spend more buying one from customers. We finally let it go to a jeweler $7,000 who liked the color and shape. You know that old saying about a "bird in the hand....".