HELP? Left with the ring!

[unwed]

Help!!! to anyone out there. I''m a jilted bride with a diamond ring to sell. What is a reasonable amount/percentage I can get for a pricess cut 1.2 carat VS H/I diamond with 8 .4 smaller diamond in a platium setting. I spoke with someone at a reputable jewerly store to get an idea of what it was worth he told me between 7,000 and 10,500. A really big range. Any advise on what I might be able to sell it for. I''M TOTALLY CONFUSED!!!

Unwed and loving it!

 

[mike04456]

Before you sell it, I would check with a lawyer to be sure it's legally yours. There are some states where the ring remains the property of the groom until the wedding, and if the wedding is off, he gets it back even if he broke the engagement.

 

[unwed]

LawGem,

I'm in the process of that now. I'm in IL and I'm not sure of the outcome yet, but he wants to negotiate for 1/2 of what he can sell it for. That's why I trying to find out what it's worth or what we can sell it for. Don't want to be underbid or scammed.

Unwed

 

[Mara]

Yikes! How does that whole thing work anyway? We had our ring and earrings appraised under Greg's name but the insurance for them is under my name (or will be anyway). He bought them and I have the receipts. How do they determine ownership? (hopefully I will never need to know this stuff, but I have been wondering because we are obviously not married yet...so ownership is not joint). This also came up when we tried to get Greg added to my renters insurance, they said since we were married we may want to keep the policies separate 'just in case' until we get married.

Just in case?!

To the original poster, depending on what you do with the stone, if its well cut, if it checks out at an appraiser etc ..here are a few options.
-You can sell it on eBay and will get maybe around 30% of the value.
-You can give it to a pawn shop and get maybe 10-15% of the value.
-You can try to sell it to a small,local jeweler who may have be able to sell it (if its well cut) and maybe get 50% of the value.
-Or you can try to trade it in to another jewelry store who has a trade-in policy (even if its not the same store he bought it from), again if it is a good stone, and save the credit for future jewelry purchases, or maybe a pendant necklace or something cool and non-related to marriage.
-You can try to sell it on Yahoo! or the classifieds or similar and I would price it at around 30-40% of the retail, but I think this will be harder to sell than on eBay.

People have tried to do this on here before and it is a tough thing to do...get rid of an unwanted ring/stone. It's unfortunate, many are probably beautiful, but obviously when purchasing such an important piece...people are rightfully wary. Good luck!!

 

[mike04456]

----------------
Yikes! How does that whole thing work anyway? We had our ring and earrings appraised under Greg's name but the insurance for them is under my name (or will be anyway). He bought them and I have the receipts. How do they determine ownership?
----------------

Not to hijack the thread, but there have been cases where men sued their ex-fiancees for the ring, despite having broken the engagement, and won. Here's one I found:

http://dpg-law.com/opinions/pa-suprm/9911/1225-lindh.html

This is in fact the law in a lot of states. If it came to that, Mara, the court would look at the reciepts and testimony from the two of you about who bought what and why. A gift given in anticipation of marriage usually has to be returned if the marriage doesn't take place, though it's not like that everywhere.

To unwed, trying running a search for "selling a diamond." There have been a lot of threads on that subject here.

 

[unwed]

Thanks Mara, I hope this NEVER happens to you either. It stinks! There is a certificate of authenticity, but he still has it. I do know that the diamond is nearly perfect with 4 tiny flaws with only one flaw that can be seen with the eye piece.

 

[unwed]

The laws are not cut and dry in this matter. Most state are no falt when it comes to divorces, so he would get the ring back. I'm in IL and there really isn't any laws stating the either of us are entitled to it. My lawyer advise me it's most likely up to the discretion of the judge.

 

[fire&ice]

Geez, maybe I'm just old. Am I the only one who follows tradition & doing the right thing? I don't care what the law says.

1. If the bride cancels the wedding - the ring goes back to the "groom".

2. If the "groom" cancels the wedding- the ring is the "brides" to do as she sees fit.

Keeep in mind this is not legal advice..but..This will really get the lawyers going.....possession is 9/10ths of the law. Keep the ring for a while...let him sue you to get it back.

 

[Mara]

I agree F&I --a gentleman would let her keep the ring (if she even wants it) for the trouble caused. Sounds like 'unwed' is better off..much better off!

Sell the ring ASAP and go to the Carribbean for 2 months. Hee Hee. (just kidding of course!)