Need to sell Engagement Ring

[UABigBird]

I am in the unfortunate position of having to sell an engagement ring that I purcahsed a few months ago. It was never even worn

Anyway, my sad story aside, I have a ring that I need to sell. I have searched for and read a few posts on selling, but the feeling that I get is that a higher quality stone will not do well on eBay. I am looking for any alternative advice. The specs on the stone are below:

GIA Certified
1.00ct Princess Cut
Color: E
Clarity: VS1
GIA Cut Style: Square Modified Brilliant
Dimensions: 5.55 x 5.32 x 3.99
L to W ratio - 1.04
Depth: 75.0%
Table: 77%
Girdle: Thin to Thick
Culet: None
Polish: Good
Symmerty: Good


It is mounted in a standard nife edge, platinum 4 prong setting.

Any advice on where to sell this ring would be great. Or, if anyone here is interested, please email me at [email protected].

Thanks.

 

[candide]

I totally respect, understand, and appreciate you not delving into your personal story. And I wouldn't pry into it.

With out doing that, a quick question. Assuming you don't need the money to cover a shortfall. Is it possible for you to save the ring for a time down the road when you may have need for it again? Is it possible to save the diamond and have it reset another way, or in some other piece of jewellery if you don't expect to need/use it as an engagement ring in the future?

I am just raising these issues because I assume that the difference between what you paid and what you will get will be breathtaking, and add to any pain you feel for other reasons.

On the other hand, if you need an infusion of cash, I understand that consignment is a decent option, as are auctions (non-Ebay I would guess).

Another possilbity may be to identify an associate (very quietly of course) who may be conisdering engagment at some point soon. If they are in the market for a similar stone, I am sure they would appreciate spending even 10% less than they would pay retail. This would beat the more significant mark down you would likely see selling it another way. Of course, they could have it reset to suite their needs.

One final thought is to find a top end non-chain retail store a notch short of a Tiffany or Cartier. Quietly meet with the manager and ask them if they can help you.

 

[UABigBird]

Thanks for the advice. I don't think I want to hold on to the ring, as I would rather just get rid of it. I realize that I will take a hit compared to what I spent, but I would rather have some cash, then something I have no interest in keeping.

You mentioned non-eBay auctions. What auctions would you recommend? I'm not sure where to list an item like this. Is there a forum on Pricescope to handle these types of situations?

Thanks again for the advice, and if anyone here is interested, please email me. I'd be happy to provide and extra information (email: [email protected]).

Another quick question, what is a reasonable price to expect for a ring like this? The moung is a standard 4-prong, platinum setting.

Thank you.

 

[UABigBird]

A few pictures ...

By the way, can anyone give me some tips for taking better pics?

Thanks

 

[billv45]

Giving someone a recycled ring (and I know they all are recycled but I mean personally recycled) is just setting yourself up for a much larger jewelry purchase down the road. "What do you mean you bought this for someone else?!! Get the car we're going to Zales..." People say the darndest things when they're pissed, but she will probably kool down and buy a really nice ring from someone better than Zales but it WILL hit the fan one day. If I needed to sell a ring like that I would offer it here and then probably put it on Ebay, with some REALLY good if not professional pics and a money back if not satisfied guarantee. That will probably get back a lot more than anything else. You'll have to face the fact that you won’t get back retail, anywhere.
Good luck!

 

[trichrome]

Hi,

I don't think so that any good customer would like to buy & try to get
the lower price on your diamond since you want to get rid of it for
a painful reason... they will not want to add more pain in trying
to squeeze all the juices out of you.
So, why don't you keep it and when you'll get
engaged (cause it will happen one day

), try to buy a bigger stone
and give this one as a trade-in ?

Hope this helps,

Trichrome.

 

[UABigBird]

I think I will end up posting it here. Does anyone have any suggestion as to what would be a fair price for this? I know I'm not going to get retail, I just want to know what a fair price would be.

Also, where can I get professional pictures? I think the pictures need some help before I try to sell this on eBay.

Thanks for the help.

 

[billv45]

I spent a lot of time browsing Ebay when I was searching for an e-ring about 7-8 months ago and I think I developed a pretty good fell for pricing there but it doesn't seem to worth much now (that knowledge, it appears to be a different market.) I did a quick Ebay price check for you and it appears the the Ebay market is extremly depressed right now and you would be hardpressed to break 3K if you listed today. If you plan on ebay'ing it you may consider waiting a bit. The best advise I can give is to watch Ebay for a while so you're an educated seller and insure it while in transit. Here's the search I did: http://search-completed.ebay.com/ws/search/GetResult?sapricelo=2000&ht=1&satitle=diamond+ring+%28gia%2c+egl%29&sorecordsperpage=50&from=R14&soitemstatus=2&sapricehi=6000&sorecordstoskip=0

 

[luvmysparklies]

UABigbird,
Where did you get the ring? Does the store/jeweler have an upgrade or buy back policy? Its understandable that you just want to get rid of it due to the circumstances, but if there is some way that you can recoup most of your costs, that would be a little better. I am sorry about your situation.

 

[UABigBird]

I actually went back to the store first. It was a pretty well-known B&M in Atlanta. I asked about returning it, and I just got a flat answer back of no. I asked about a reduced buy-back, the equivalent of a restocking fee, and the answer was a flat no. The return policy is 14 days, and that's it.

It is sad to have this level of customer service, when I brought in 3 additional clients, who each bought an engagement ring, within a week of my original purchase.

Thanks for all the help.

 

[UABigBird]

I received an offer from a local jewler of $3500. Can I reasonably expect to get more than this on eBay, or elsewhere? Any advice is appreciated.

Thanks

 

[pqcollectibles]

Hi UA!

Soooo sorry for your situation.

You do have several alternatives besides eBay.

You can try consignment through a local independent jeweler. My "family" jeweler adds 25% to the price the seller wants to get for a piece and acts as a 3rd party during negotiations.

You can try selling the diamond loose. There is a stigma attached to rings from broken engagements and marriages. I was in a jewelry store one day and a lady was looking at a beautiful Scott Kay ring with a very well cut center diamond. Once she heard the "D" word she put the ring back. She didn't want the stigma attached to her new relationship.

You mention you are in Atlanta. That is a fairly large metropolitan area. You can run an ad in the classifieds and try selling that way. I see jewelry/rings in the Kansas City newspaper all the time. Sunday listings work the best. You will have to be careful screening potential buyers and pick a secure location for the preview/sale.

Find a large local auction house. We have one in KC that specializes in top end art, sculpture, jewelry, and gemstones. You might have one there. You can set the minimum you are willing to accept in advance. If the bidding doesn't reach that amount, you don't have to sell.

Good luck with your sale!

 

[luvmysparklies]

UABigBird, check your pm.

 

[Mara]

I may have missed this but what did you pay? $3500 doesn't sound too bad for this type of stone, princess cut stones are cheaper normally anyway than round brilliants.




The pictures look pretty good actually!! If you can get about 60% of your money back..I'd take it. eBay will get you no more than that....consignment MAY work...but then you'd have to wait a bit, pawn shops give you about 15% back...a private jeweler offer may be the way to go. Of course they want to make money off the re-sell, so it is really up to you on how much you want to get and how badly you want to get rid of it. If you don't need the $$..I may think about keeping it as a previous poster suggested and trading it in in the future when you have the right girl and want to give her a ring. Or trade it in and get a cool watch or something somewhere!

 

[Giangi]

In first place, I'm really sorry to hear about your situation.

I agree with Mara. 3500 is not a lot of $$$$$$, but it's quite good. I mean, if you want the money and don't care for the stone anymore, then why not?

I don't think you could get so much on eBay. Over there buyers are mostly looking for those 'too-good-to-be-true' kind of deals. You may find an exception, but I would not swear about that.

See if you can make some arrangements w/the jeweler, as Mara suggested.

 

[bluescharm]

hi! so sorry you're in that position...have you tried craigslist.org? there is one in atlanta (atlanta.craigslist.org)...it's a free classified ad service. i posted my ring here on pricescope, and on the SF craigslist, and i sold it within a week there for quite a good price.

cheers-
natasha

 

[UABigBird]

Everyone, thanks for all the help. I'm still not sure what I'm going to do, but I can always count on pricescope to give me some direction.

Thanks