Engagement ring resale in London

[SalMarge]

Hello

I hope im posting appropriately and in the correct place.
A member of my family is looking to sell an engagement ring no longer needed.

It was bought in 2021 ina jewellers in Hatton Gardens.

It is a 3.5kt yellow sapphire and is set in 19 kt yellow and white gold.

It was bought for £5300.

Does anyone know what a good resale value would be and the best place to sell?

They have all the certification etc.

Thanks in advance for any info

 

[dk168]

Welcome to PS!

I have not heard of 18K Gold being used in high end jewellery made in UK or Europe, however, I could be wrong.

As for selling the ring, you are likely to get more selling privately than to use auction houses due to the fees you would have to pay them after a sale.

I sold a few items using eBay in the past. eBay now has an authenticity guarantee for items about a certain value, and your ring is certain to require to go through this process, therefore, restricting its sale to UK only.

Recently I sold some precision cut gemstones via a selling site favoured by PSers. However, it has been down for over a month. Hopefully an alternative selling platform will be up and running soon, thanks to the PSers who are setting this up for us.

You could wait for this new selling platform to be up and running, and I hope it will be soon, and try your luck there. However, please be forewarned that with private selling, trust is very important, and you are a newbie on PS with no history, and your first post is about selling a piece, which might not go down well with the PS community.

As for resale value, it is difficult to advise. However, based on my own bitter experience is that second-hand jewellery is a buyer's market, and I was lucky to get more than 20% of what I had paid for some of the items I sold.

Certifications etc. would increase the chances of the item being sold, however, they do not necessarily increase the selling price. They help to increase buyer's confidence that the piece of jewellery is real. However, with the eBay authenticity guarantee process, it will further enhance the buyer's confidence.

Good luck in selling the piece.

DK