HELP! Need to sell my engagement ring!!!

[AmyHunt31]

I am in a position that I need to sell my engagement ring. Unfortunately I do not have an independent jeweler in the town that I live in that will sell it on consignment. Any suggestions?

3 stone
1.63 tcw
center stone: 1 carat
2 side stones: .315 carat each
Round Brilliant Cut
Color: K-L
Clarity: SI1

Appraised at $5750

 

[UnionDiamond]

It''s not going to be an easy task but this is the time of year where you''ll have the best luck. Your best bet is to sell it privately. First you''ll have to determine how much you want for the item then you have to figure out where to sell it.

Chances are, you are not going to get what you paid for it. If you try to sell it through a jewelry store on consignment, you are probably going to have to wait a long time (if ever) for it to sell. You can try eBay but the price will have to be right. I know some people who have had limited success advertising it in the paper. Your best bet is to find someone you know who want''s a great ring for their better half. Try to make them a deal they can''t refuse... Perhaps some cash and a trade of some sort?

Anyway, those are a couple of suggestions. Like I said, this is the time of year when you''ll have the most success so try your best now. Good Luck.

 

[oldminer]

Take out a classified ad in your local newspaper or in one in the next town over. Advertise the appraised price and say "Willing to take best offer, must sell" I would only do this with a couple of stipulations:
1. Use a non-residence phone number. Do not give our your home address.
2. Do NOT invite anyone unknown into your home.
3. Meet the interested party at your local bank, your attorney''s office, or even a local restaurant where the staff know you and can keep things under control.
4. Meet only in the daytime and in a secure, yet public venue.
5. Do not accept a personal check. Only accept cash, or walk with them to their bank for a
cashier''s check, or have them wire funds into your account.
6. Be ready to show them a receipt for what you actually paid.
7. Be prepared to take a big loss and go on.
8. Do not let anyone remove the ring from your direct sight until the deal is DONE.
9. Don''t feel bad about it, because this all was built into the deal the moment it was purchased.

All this stuff is part of selling something without getting robbed,r mugged or cheated. You are getting a perspective of what a retailer must do every day although admittedly, they try to make a little money where you will likely come out on the short end of the deal financially.

 

[canuk-gal]

HI:

As always, sage advice from Dave Atlas. The only thing I might add is to bring along another person for the same reasons alluded to by Dave and perhaps a bill of sale or receipt book. Good luck.

cheers--Sharon

 

[Mara]

try also eBay and CraigsList.

As Dave noted, be prepared to take a loss, and it could be a big one. Resale while keeping a good %% of the value is hard to do, there have been some posts in the past on %% you can expect to reap on a resale. You may be able to find it in the search.

From what I have heard, if you can score 50% of the value, you'd be very lucky. Appraised values are usually inflated also, so the real value on the market today may differ.

Good luck!