Re:Selling engagement ring Suddenly Single: Thanks for posting this and answering guys - I've been wondering that question myself. It seems like such a waste to have it being stored where it is and I do like jewelry but not that much to have the stone changed to something else. I hate to say it - but I want the $$ - especially with all things I've been doing and will be doing. I want to travel more - get my master's or **gulp** even add it to my nest egg. I would really like to spend it on me! :0) But I'm a little selfish that way!
Re:Selling engagement ring Matt: Hi disavowed,
Heres my advice on this:
Be sure you go to a G.I.A. ( Gemological Institute of America ) certified gemologist for the appraisal and MAKE SURE to tell him you want it for the purpose of resale value NOT insurance reimbursement value... The monetary difference will shock you, as it can be in the thousands.. Insurance aprraisals are higher, sometimes much higher.. :o
Its wierd but there is a depreciation on diamonds once they have been worn or are in a setting. Its almost like a car.. Its totaly insane as its one of the hardest substances on earth and unless its been damaged It is the same stone as the day it was purchased... ???
A complete appraisal will include "mapping" of the diamond.. Each diamond is like a fingerprint, no two are exactly alike. Its a side and above drawing of the individual stone that gives measurements, and and identifying charicteristics such as inclusions ( carbon flecks, etc ), bevel width, etc.. It helps the buyer know that the stone they are buying is really that grade, clarity, and the actual stone they are looking at.
Once you know the value , a good idea might be to remove the stone from the setting and sell it loose on say, ebay and post the gia report with it or offer to fax it prior to the sale....
Do not go to a pawn shop... you will get taken for a ride...
matt
Re:Selling engagement ring Suddenly Single: BUMP!
Hey DIS...Do you ever get it done? I was just thinking about posting this question like you did...I remember a thread about....
and then I found this...which I had responded to...too funny...
anyway....thinking about it again and want to move forward....just curious...how did it go for you?
SS
Re:Selling engagement ring Suddenly Single: Hey Dis,
Thanks for the update! I'm curious how it will go for you. I have 2 places that I can take it to but I just haven't made the move yet. I think I should get the platinum polished before anyone thinks about appraising it.
I either just want the money (maybe a vacation for me and someone special!) OR one of the places I'm taking it to has this ring I wanted. Of course I think it is a wedding band - but who cares. I always wanted it!
Let me know! Thanks. SS
Re:Selling engagement ring kissingkim: Hey, just a note of caution and some advice.
I was/am strapped for money, and had a beautiful diamond ring that was my mothers' from her marriage to my dad (also ended in divorce). It was given to me for my first marriage since we didn't have the funds to buy our own, and had some sentimentality. Then I divorced and remarried years later, and stupid me used the ring again, for basically the same reasons. Duh. But really, a gorgeous ring, was 1.4 carets, and nearly flawless. I had it appraised, and it came to over $14,000.00. When I went to sell it, jewlers only wanted to give me 4 grand, BIG DIFFERENCE. The norm, from what I researched, is about a third of retail value. My appraisal had been for insurance.
Since I had been very active on Ebay, I tried to sell it on there. Someone on there contacted me and we agreed to use a escrow service, and they paid me $12,000.00. I was thrilled, and next day aired the ring. I have not seen it since, and have since become part of a international jewelry theft ring......and even spoke with the FBI. BE CAREFUL!!!!
It killed me when it happened, and I still miss the ring. It had great value to me since it was so old, and OMG it was gorgeous. BUT, I really thought it was bad luck, and would have really appreciated the cash. Taught me to not believe when something seems to be too good to be true......even though I should have learned that by my last marriage.
Just some info in case any of you consider EBAY or selling it on your own. My mistake was twofold, bells should have rung (not the happy kind) when he agreed to buy it at such a high price, and he contacted me while the auction was ending. Of course I thought avoiding the fees on EBAY was great, I was way wrong.
Kim
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