Ever sold an engagement ring? - PeachParts Mercedes-Benz Forum

KAdams4458 · #1 11-21-2007, 04:32 PM

I have a ring floating around still from a woman I tried to marry years ago. It bothers my wife a bit, as if it's still some tie to some other woman, but really, it's just a ring. What she doesn't understand is that selling a ring is an even bigger PITA than buying one. I've gotten in to researching the process a few times, and I have to say that most of the information on the 'net regarding it is terrible. I always end up tossing the thing in the back of a drawer and forgetting about it for a while.

You all seem like bright people, so I'll ask for your ideas. What does one do with, say, a .45 ct old mine cut diamond mounted solitaire style in a yellow gold, authentic victorian era ring? The real problem is that it's not just a diamond ring, it's over 100 years old, and the antique market is much more elite, and far more subjective than the market I'd be in if this thing were some recent Tiffany ring. I don't need top dollar for it, but I'd like to get a decent amount out of it. All proceeds, of course, will go to buying jewelry for my wife, since I'm sure that will make her feel all warm and toasty. (Shhhsh! I might be tempted to buy a Mercedes part or two as well, but none of you know anything about that.)

POS · #2 11-21-2007, 04:50 PM

I have a friend in the jewelry business, and I asked him about selling a large diamond that my wife bought at an estate auction. He said, "You can't sell used diamonds - no market for it."

If I were you, I'd have the diamond taken out and made into something that the wife can enjoy.

KAdams4458 · #3 11-21-2007, 04:59 PM

Quote:

Originally Posted by POS

I have a friend in the jewelry business, and I asked him about selling a large diamond that my wife bought at an estate auction. He said, "You can't sell used diamonds - no market for it."

If I were you, I'd have the diamond taken out and made into something that the wife can enjoy.

Well, for one thing, my wife hates diamonds. For another, it's not a modern ring, those truly don't have resale value compared to new. This sucker was hand-made around 1870-1880. You don't just dissect such things. As a diamond ring, it's not worth much. As an antique, it has some hard-to-nail-down value that I can't even begin to determine.

On the other side of the fence, a lot of jewelers will take old mine cut diamonds, and re-cut them to be brilliant cut diamonds. For loose stones, that's fine, I suppose. It gives you a nice "new" diamond, but it strips away its warm, hand-crafted charm. That's maybe not so bad for a loose stone, or one in a setting that's beyond reasonable repair. This ring, however, is in fine condition, and just screams quality. It's worth preserving to a lot of folks, but probably not ones in the new jewelry business. The question is, where do I begin?

Hatterasguy · #4 11-21-2007, 05:45 PM

I'd PM Carleton Hughes, antique's are his business afterall.

Carleton Hughes · #5 11-21-2007, 06:03 PM

Thanks for the boost Hattie.

generally when I or anyone purchases either an individual ring or some which are part of the contents of an estate we generally make an offer which will allow us at least to recoup the $1,000.00 per Carat wholesale which is current around these parts.

However there are many variables to wit

ld mine cuts from the 19th cent,to the '20's were generally full of occlusions which puts them well below the above stated price and they must stand on aesthetic appeal alone. A really fancy setting is always better than a plain one,however most engagement rings of that vintage are severely plain,the Deco white gold ones from the '20's having more market appeal.

Either way you will not come out ahead selling to a dealer but,if you really wish to pursue it you may use a tack I have made liberal use of myself when saddled with less desirable goods.

Go to a certified gemologist,ask their opinion on the quality,clarity and cut of the stones,if reasonable enough get a legal insurance appraisal,which are generally at high retail and armed with this advertise it on Craigslist,your local paper or such and perhaps you can snare an impecunious rube who wants to save money,but does not know ***** about diamonds but will be impressed by the inflated insurance estimate.
That's what I do with such things.

If you just want to dump it to whatever jeweler makes you an offer by all means do so but I like to maximise my profit whrever possible.

Hatterasguy · #6 11-21-2007, 06:16 PM

When in doubt, ebay with a good story!

Jim B. · #7 11-21-2007, 07:04 PM

Quote:

Originally Posted by Hatterasguy

When in doubt, ebay with a good story!

....and a good reserve.

Good luck in selling it. Frankly (NOT prying here)I am a bit surprised that you still got to keep it in the first place. I thought when an engagement (or marriage) goes on the rocks, she gets to keep the rock.

One girl I once dated told me than when her engagement broke up, she got so mad she tossed the ring off the Golden Gate Bridge.

drama...

KAdams4458 · #8 11-21-2007, 07:52 PM

Quote:

Originally Posted by Carleton Hughes

Thanks for the boost Hattie.

generally when I or anyone purchases either an individual ring or some which are part of the contents of an estate we generally make an offer which will allow us at least to recoup the $1,000.00 per Carat wholesale which is current around these parts.

However there are many variables to wit

ld mine cuts from the 19th cent,to the '20's were generally full of occlusions which puts them well below the above stated price and they must stand on aesthetic appeal alone. A really fancy setting is always better than a plain one,however most engagement rings of that vintage are severely plain,the Deco white gold ones from the '20's having more market appeal.

Either way you will not come out ahead selling to a dealer but,if you really wish to pursue it you may use a tack I have made liberal use of myself when saddled with less desirable goods.

Go to a certified gemologist,ask their opinion on the quality,clarity and cut of the stones,if reasonable enough get a legal insurance appraisal,which are generally at high retail and armed with this advertise it on Craigslist,your local paper or such and perhaps you can snare an impecunious rube who wants to save money,but does not know ***** about diamonds but will be impressed by the inflated insurance estimate.
That's what I do with such things.

If you just want to dump it to whatever jeweler makes you an offer by all means do so but I like to maximise my profit whrever possible.

Now we're getting somewhere.

I actually had it appraised years ago when I purchased it. The statistics G and VVS stick in my mind, but not much else. The appraiser felt I had picked up a great bargain at the time. I wish I still had the documentation, which were in the ex-fiancee's safe, but all I got back was the ring.

It'll be hard for me to not come out ahead by selling this, to be honest. You see, the person I bought it from thought it was fake.

I didn't pay much for it. (Not that I wasn't willing to spend a decent chunk of change for the "right" ring at the time.)

Thank you for the input. I'll look in to having it appraised. I've sat on it this long, so I can keep sitting on it for a while longer.

KAdams4458 · #9 11-21-2007, 08:00 PM

Quote:

Originally Posted by Jim B.

....and a good reserve.

Good luck in selling it. Frankly (NOT prying here)I am a bit surprised that you still got to keep it in the first place. I thought when an engagement (or marriage) goes on the rocks, she gets to keep the rock.

One girl I once dated told me than when her engagement broke up, she got so mad she tossed the ring off the Golden Gate Bridge.

drama...

This is what I know... An engagement ring belongs to the man if things break off. After marriage has occurred, the engagement and/or wedding rings stays with the woman.

An engagement ring, is an offering to wed, and accepting it is almost like a contract, of sorts. Cancel the contract by not following through with the wedding, and why should the woman receive any sort of profit for it? Once married, the woman has kept her end of the bargain, and the ring is hers, no matter what. Interestingly, our court system usually follows along these lines as well.

How or why this started, I do not know, but it is a common theme. All I know is that she gave the ring back to me, and I'm fine with that. I'd have been fine with it if she kept it.

POS · #10 11-21-2007, 08:04 PM

Quote:

Originally Posted by KAdams4458

Well, for one thing, my wife hates diamonds.

Send it to me; my wife doesn't have that problem (I do, however).

BAVBMW · #11 11-21-2007, 08:20 PM

I sold two used wedding rings to a pawn shop once. The rings were nothing special, just average bands for a couple in their early twenties. Hers was fancier I think. I know I got the lowest possible price for them, but I wanted them gone, and selling them to a pawn shop had more appeal to me than throwing them off of anything I could think of at the time. I debated for a while as to what to spend the money on, either something nice for me, something nice for another woman, or something she would have hated. I finally settled on lunch. It was the best thing those rings ever did for me.

MV

vwbuge · #12 11-22-2007, 11:21 AM

I had a ring I originally paid around $1300 for. It was a solitaire, marquise cut. I then had it reset years later with baggettes. The total weight was just under 1ct. I tried to put it on Ebay but that deal sucked.

Your best route is what is described above. Go to a jeweler and get it appraised and then put an ad in the local paper or something.

I put mine in the paper and got $500 for it.

Dee8go · #13 11-22-2007, 11:25 AM

Quote:

Originally Posted by BAVBMW

I sold two used wedding rings to a pawn shop once. . . . I finally settled on lunch. It was the best thing those rings ever did for me.

MV

I love that line, "used wedding rings." Used but apparently not effective? I recall that line you hear in wedding ceremonies about how the ring symbolizes eternity. I guess "eternity" is only what it feels like. Hee hee!

nissanzx1 · #14 11-22-2007, 08:42 PM

Sure, I was going to ask a long time live in girlfriend. I kept it under my hat for a few months, and then she moved out after she finished her MBA. To this day I never told her that I had bought a ring for her. It would just piss her off, everything else did...

I sold it for about 2/3 of what I paid, and I felt lucky! Not ever buying another engagement ring again in my life... Well, at least that's what I'm going with today

In your situation sell it on ebay and buy the wife or kids something nice...

-GH