Where to sell??

[jekajekalynn]

My dm called me this morning and asked me a question that I didn't know the answer to, but I am sure someone here knows!! lol

My dm has a diamond ring she got several years ago that she wants to sell. It was appraised a couple of months ago for 5k, and she was wanting to know where one would go to sell such an item??

I know that one wouldn't take something like that to Billy-Bob's Pawn and Hock, so where/what would one do to sell a ring like that?

TIA!!

 

[noodleknitter]

I know that there are a couple of reputable jewelers locally who will buy estate jewelry. They are the older established dealers, not chain dealers. Of course, she likely won't get the appraised value from anyone who is going to resell.

 

[It's A Happy Day]

My dm called me this morning and asked me a question that I didn't know the answer to, but I am sure someone here knows!! lol

My dm has a diamond ring she got several years ago that she wants to sell. It was appraised a couple of months ago for 5k, and she was wanting to know where one would go to sell such an item??

I know that one wouldn't take something like that to Billy-Bob's Pawn and Hock, so where/what would one do to sell a ring like that?

TIA!!

At the jewelry store I work at we recommend people list them on EBay or sell it themselves as that is the only way to get close to what you paid. Many jewelers - reputable or not will only let you trade it UP for another piece (costing you money) or pay you a fraction of the value because they are giving you a wholesale amount. DO NOT BRING IT TO A PAWNSHOP - they will not even come close to giving you value. Check & see if there is a consignment shop in your area that deals with jewelry.

If you choose to sell it yourself I would recommend bringing it to a local jeweler and having them buff the band and clean it (you may have to pay a minimal fee for this) put it in a box if you have one for better presentation - Basically make it LOOK new. Ask the associate what size the ring is and carat weight (if you don't know - but it should be on appraisal already) so you can give a more precise description. If the ring was appraised at 5K I would check and see if that is a retail price they are going on as appraisals are often inflated to cover several years. When I first read the post I thought ok so you'd probably get about $2500 for it. Check Bluenile.com as far as what the going cost is on the size of the center stone. Undercut that price so it would be a "deal" to get it from you...you don't have to lose alot of money...the major issue is to get close to what the person who purchased it paid.

Edited to add: If she is selling it because she needs the money ok. But if she is trying to get rid of it because she doesn't wear the piece, see if she would want to remake it into something else??? Many people take past engagement rings (broken engagement/divorce, widowed, replaced with new piece) and make pendants, earrings, right hand rings or a ring that doesn't look like an engagement/wedding ring. It is amazing what you can do and the lower cost when you are providing the stone(s)

 

[jekajekalynn]

At the jewelry store I work at we recommend people list them on EBay or sell it themselves as that is the only way to get close to what you paid. Many jewelers - reputable or not will only let you trade it UP for another piece (costing you money) or pay you a fraction of the value because they are giving you a wholesale amount. DO NOT BRING IT TO A PAWNSHOP - they will not even come close to giving you value. Check & see if there is a consignment shop in your area that deals with jewelry.

If you choose to sell it yourself I would recommend bringing it to a local jeweler and having them buff the band and clean it (you may have to pay a minimal fee for this) put it in a box if you have one for better presentation - Basically make it LOOK new. Ask the associate what size the ring is and carat weight (if you don't know - but it should be on appraisal already) so you can give a more precise description. If the ring was appraised at 5K I would check and see if that is a retail price they are going on as appraisals are often inflated to cover several years. When I first read the post I thought ok so you'd probably get about $2500 for it. Check Bluenile.com as far as what the going cost is on the size of the center stone. Undercut that price so it would be a "deal" to get it from you...you don't have to lose alot of money...the major issue is to get close to what the person who purchased it paid.

Edited to add: If she is selling it because she needs the money ok. But if she is trying to get rid of it because she doesn't wear the piece, see if she would want to remake it into something else??? Many people take past engagement rings (broken engagement/divorce, widowed, replaced with new piece) and make pendants, earrings, right hand rings or a ring that doesn't look like an engagement/wedding ring. It is amazing what you can do and the lower cost when you are providing the stone(s)

Thanks!! I'll be sure to email my mom that.