Help! Where do I sell my old ring?

[fiery07]

Hi again! I''ve posted a few threads here already about setting my new stone. I got a 1.5 ct E SI2 loose diamond and I went yesterday to find a setting at my local jewelers. I actually found one I LOVE!

It costs about $1000 for the setting. I would like to sell (trade-in??) my old w-ring set - we paid about $1500 for it 8 years ago (it''s a 0.3 ct H SI2 with a wrap). I went to the same place that we bought it from in the first place, but I guess their policy is to only give you the value if you pay $1000 more than what you paid for it. Is this common??

Well, I''m not going to be spending more than what I paid for it, so I guess I have to take it somewhere else to sell it, right?

Does anyone have any suggestions as to where to take it that will give me a good price for it? I know I won''t get all my money back, but I would like to come close to $1000, so I can pay for the new setting.

By the way, keeping the old ring to reset is not an option. The agreement with my husband was he was only going to buy me a new diamond if I agreed to sell the old one to pay for the setting. I''m ok with that!

 

[diamondseeker2006]

You''ll likely find it hard to sell for a good price unless it is particularly special such as being a designer brand, for example. You can try ebay or some people like Craigslist. A lot of people just keep the old stones and reset them in a pendant or something rather than take such a loss on the old set.

 

[neatfreak]

Unfortunately, yes that is common to have to spend a bit more than the original piece to trade it in.

And not to be rude, but you are going to have a hard time selling an old ring for close to what you paid for it, especially when so much of the cost is in the setting and not the center stone. And even more so because you said it''s a "wrap" ring which isn''t really in style right now and is not a classic look.

Your best bet would probably to try and sell it locally through craigslist. Pearlman''s http://www.pearlmansjewelers.com/ also does consignment, but I don''t know if they''ll take anything or if they only take certain items.

As a last resort you could turn to ebay. Best of luck!!!

 

[HappyAnniversary]

Could you pay the $1000 more by buying more things in the store? Then you could snag a necklace too because you "had" to!!

 

[fiery07]

I looked on Ebay and it looks like similar rings are only selling for about $50!! Yikes. There''s no WAY I''ll sell it for that. I just thought maybe there would be a jewelry store or something that would buy it for more?? It''s still a diamond and seems like it shouldn''t lose value.

 

[mrssalvo]

Diamonds are not good investments, more than likely you will take a loss when reselling either the stones or a setting. If you own a designer settings your chance of recouping some of what you paid is better but like the others said, the style of your ring isn''t really in style now. I''d suggest just keeping it and setting a colored stone in or something. Some jewelers might take in on a trade towards another purchase but it won''t be much and probalby not any more than you could get trying to sell it. You can always try Pearlman''s, I''ve consigned 2 items there and it''s very easy. They will take 15% of what the piece sells for as commission.

 

[fiery07]

Someone actually sold my exact ring on Ebay - here it is:

http://cgi.ebay.com/Wedding-Engagement-rings-1-3-Diamond-Solitaire-w-Wrap_W0QQitemZ150115044152QQihZ005QQcategoryZ92906QQrdZ1QQcmdZViewItem

I''m going to try to talk my husband into getting me a pair of earrings for the extra $1000. If we have to spend it anyway, I might as well get something extra right?!?!

 

[kcoursolle]

Unfortunately, I don''t think you are going to get a lot for it if you sell it. Unless the piece is designer or platinum, you will probably get a small fraction of what you paid for it. It is fairly common for stores to want 1k more than you paid for the item to trade up, a certain percentage, or the like. There are many who don''t need this, but it''s not uncommon. If you like the jeweler you can trade up with and they can make you a new setting you like I woul probably go that direction.