Need help assessing the value of my sisters engagement ring.

[kris11]

Hello all,

Unfortunately my sister's engagement has ended. Long story, rather not get into it.

She is left with her engagement ring, and obviously does not want it anymore. I'm helping her get fair value for it by whatever means necessary. Absolutely not going to give it away at a pawn shop for nothing. Hope you guys can help.

This is the ring: http://www.kay.com/en/kaystore/diamonds---gemstones/diamond-engagement-ring-1-1-4-ct-tw-princess-cut-14k-white-gold-990741112--1/100020/100020.100023.100052

Now I know right off the bat im assuming she is not going to get anywhere close to $4100 for it.... but she was offered $700 for it a week or two ago and that seemed quite low. I am not no expert by any means but thanks to this forum over the past few months I have learned quite a lot.

1. What do you think a fair reasonable price for it is?
2. By what means would you try to sell it. On the forum? eBay?

Any help is appreciated. Thank you.

 

[Deez]

Re: Need help assessing the value of my sisters engagement r

That's unfortunate. Best it ended now before an expensive wedding.

I would take it for a proper third party appraisal. Spend the $200 and equip yourself (and potential buyers) with actual value documentation. It will earn you money in the long run and at the very least will make your sale a lot easier.

 

[baby monster]

Re: Need help assessing the value of my sisters engagement r

There are lots of similar Kay rings on ebay. I looked in sold listings and found these, which seem very close.
http://www.ebay.com/itm/Princess-Cut-Diamond-Platinum-Engagement-Ring-by-KAY-Jewelers-/181492855539?pt=Diamond_Solitaire_Rings&hash=item2a41d132f3
http://www.ebay.com/itm/Gorgeous-1-3-carat-14K-Princess-Cut-White-Gold-Engagement-Ring-from-Kay-Jewlers-/131255042177?pt=Diamond_Solitaire_Rings&hash=item1e8f690081

Now, I don't know how long it took for these rings to sell and how much risk you're willing to take selling on ebay. Pawnshop offer is cash in hand.

 

[jmb797]

Re: Need help assessing the value of my sisters engagement r

Also be careful that the ring is not suppose to be returned to him. I know in Michigan, the ring is considered a conditional gift, since the condition (marriage) did not happen, legally speaking he has the right to have it returned.

 

[distracts]

Re: Need help assessing the value of my sisters engagement r

I would try on ebay or idonowidon't. I doubt anyone on this forum would be likely to buy a Kay's engagement ring of that style. I would also find out what was actually paid for it - just because it was listed at $4100 at Kay's doesn't mean that's actually what they sold it for. Most mall stores seem to have constant 50% off everything sales. The center diamond likely has a retail value of about $800, and the setting about $1500. If you look through ebay's sold listings of similar Kay's rings, they're going from $300-$1800 (the listings going for more have more detail in the listing and better pictures). I honestly wouldn't pay the money for an appraisal. I'd just link to the Kay's listing in your sale listing or copy that info down. That's enough for 99% of the diamond-buying public. Be sure to clean it really well and take good photos.

And remember that you have the backup offer of $700. I'd aim for around $1500-$1800 first like those ebay listings, but that may not be achievable.

 

[momhappy]

Re: Need help assessing the value of my sisters engagement r

I would estimate a fair value for that ring to be from about $1000-$2000. I'd probably ask around $2000, so that you can negotiate down because I wouldn't expect to get much more than $1500 for it (if that).

 

[distracts]

Re: Need help assessing the value of my sisters engagement r

Oh, and don't mention in the listing that it came from a broken engagement. It's really not necessary to list anything personal in the listing. Just say that it was lightly used.

 

[MMtwo]

Re: Need help assessing the value of my sisters engagement r

I have had success selling a .6 diamond on IdonowIdont. Sold at about 75% value (as retail rate valued by my jeweler friend) and that was without a formal written value.

 

[smitcompton]

Re: Need help assessing the value of my sisters engagement r

Hi,

This ring, according to what the op listed is an Ideal cut tolk--ski (SP). That is a nicely cut diamond. The op doesn't list color or clarity grade, but the cut is good. (60 -60 ). If this is true the diamond will be worth more. The ring is nice. Even Kay has a top of the line.

I'd guess 2500-3000 on resale if its what you posted. If it like the other poster 12 diamonds , it won't be worth much.

Not to rain on your parade, but an engagement ring, in most states belongs to the guy if the engagement is broken.


Sorry for her loss,

Annette

 

[toaster]

Re: Need help assessing the value of my sisters engagement r

Not to rain on your parade, but an engagement ring, in most states belongs to the guy if the engagement is broken.

I was getting ready to post the same thing. You beat me to it.

 

[toaster]

Re: Need help assessing the value of my sisters engagement r

,

This ring, according to what the op listed is an Ideal cut tolk--ski (SP). That is a nicely cut diamond. The op doesn't list color or clarity grade, but the cut is good. (60 -60 ). If this is true the diamond will be worth more. The ring is nice. Even Kay has a top of the line.

I'd guess 2500-3000 on resale if its what you posted. If it like the other poster 12 diamonds , it won't be worth much.

If you click on the link the OP provided to Kay's you see they list the clarity as SI2-I1 and color as H-I.

The center stone is .5 ct. The rest of the diamond weight comes from the accent/side diamonds (which list the same clarity/color).

 

[OoohShiny]

Re: Need help assessing the value of my sisters engagement r

Not to rain on your parade, but an engagement ring, in most states belongs to the guy if the engagement is broken.

I was getting ready to post the same thing. You beat me to it.

Does it maker a difference who broke it off?

I thought the ring was a guarantee of financial security for the woman if the man broke it off, traditionally speaking, so therefore the woman got to keep it if that was the case? In the opposite case, the man would keep it as the woman would have been deemed to have decided to not need the man, emotionally or financially?

Where that leaves same-sex marriage, I have no idea... lol

 

[distracts]

Re: Need help assessing the value of my sisters engagement r

It depends on the state. You can look it up online.

 

[lknvrb4]

Re: Need help assessing the value of my sisters engagement r

Try craigslist, I had really good luck selling my first ering on there, you just have to weed out the scammers from normal people.

 

[momhappy]

Re: Need help assessing the value of my sisters engagement r

,

This ring, according to what the op listed is an Ideal cut tolk--ski (SP). That is a nicely cut diamond. The op doesn't list color or clarity grade, but the cut is good. (60 -60 ). If this is true the diamond will be worth more. The ring is nice. Even Kay has a top of the line.

I'd guess 2500-3000 on resale if its what you posted. If it like the other poster 12 diamonds , it won't be worth much.

If you click on the link the OP provided to Kay's you see they list the clarity as SI2-I1 and color as H-I.

The center stone is .5 ct. The rest of the diamond weight comes from the accent/side diamonds (which list the same clarity/color).

I would be incredibly surprised if OP got $2500-3000 for that ring….
Also, I agree with trying Craigslist. Be careful/smart about it though.

 

[rockhoundofficiando]

Re: Need help assessing the value of my sisters engagement r

It's a pretty ring. However unfortunately quality is not stellar. Multiple smaller diamonds with a half carat center diamond that is Si2-I1 h/I color (stats which may or may not be accurate, typically stats are less than what is claimed if there is no official certification from a respected agency such as GIA or AGS) will not sell on the secondary market for anywhere near what it was bought for. Hope your sister's ring is the exception though. Best of luck.

 

[smitcompton]

Re: Need help assessing the value of my sisters engagement r

Hi,

I found the info under specifications. With the new info, I agree you will not get 2500-3000. The center stone is only 50 points.
Maybe 1500--my best guess.


Annette

 

[TC1987]

Re: Need help assessing the value of my sisters engagement r

You'd have to run the numbers on this to see if it nets you more money:
Split up the center diamond, mount it in a pendant mounting, and sell it as a pendant.

Sell the empty semimount on LoupeTroop or DiamondBistro or ebay.

That way, you are selling a pendant (no stigma) and an almost-new semimount (there's a market for them) and you don't have to deal with the issue of selling a ring from a broken engagement.

 

[kris11]

Re: Need help assessing the value of my sisters engagement r

Thank you ALL for your responses. At this point I am going to list it on eBay for her. I will take extremely detailed pictures via a professional photographer, and make the listing appear very detailed, and nice. I will not mention anything about the broken engagement. I will make sure to clean the ring very well before pictures are taken. I'm going to ask $2500 and utilize the best offer feature. She's in no rush to sell, but likely would take $1500 at the lowest(based on all of your responses). Like you guys said, its a decent ring, from Kay. Not really worth the time and money to get it certed GIA

As far as who legally owns the ring, he has already taken her to court for it, and the case was thrown out.

 

[denverappraiser]

Re: Need help assessing the value of my sisters engagement r

It sure seems like professional advice would be really helpful here. You're dancing on a range from $700-$2500 based on details that aren't present, and professional guidance would cost you/her about $100. There's a list of professional appraisals under the 'Resources' tab at the top of the page and most of them have a fair amount of experience with exactly this question. My only qualifier is that what you're asking is NOT an insurance replacement appraisal, which is about 80% of what appraisers see. If they don't fully understand the question(s) you're asking, you might just get the answer to the wrong one. Just a thought.