"Trading In" Wedding Ring

[HLAuburn]

DH and I have been married almost 11 years, and I think I'm ready to get a new setting for my diamond engagement ring. I currently have 2 identical bands (w/diamonds) with the solitaire set in one of them. I'm thinking of "trading in" my old band/setting and having it it put in a new setting, but how does that work at the jewelry store?? Is it like trading in a car - they give you next to nothing - or are the prices for gold/diamonds pretty good these days? We paid $1000 for the bands, so it would be nice to get some of that back to go towards the new setting, but I'm just not sure how it all works.

Thanks!

 

[clgwli]

Unless you go to the same jewelry store that you bought it from, it is unlikely that they will give you anything more than scrap cost for your setting. If you bought from them, then they may have an upgrade policy. Many are you have to spend double of what you originally spent to get credit for the trade in.

Reselling jewelry is not very wise. You typically only get about 30% of what you paid if you sell a whole piece. Since you are only doing settings, I doubt you'd get more than pennies for the dollar on a trade it or sale.

Have you considered setting a gem into your old band and using it as a right hand ring? Just another thought.

 

[Tinkerbell58]

Can you have the diamonds reset in a new setting?

 

[JessicaR]

I'm thinking scrap in todays market would be pretty great. Can you weigh it?

 

[HLAuburn]

Thanks for the replies!

I don't really like to wear other rings, so I don't think I'd want to set another stone it it, but good suggestion. The diamonds that are in the bands are a decent size (for accent stones, I guess), but since I'm going for a totally different style, I'm not sure I could use them.

They're pretty thick bands, so there might be a decent amount of gold in them, and the 10 or so diamonds total about a carat, but other than that, I'm not sure what the weight is. Guess I could work on that so I know what sort of value I have in them.

Thanks again for the help.