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PLEASE HELP!!! SO, I Found this huge Ring..

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Ms.Karma

Ms.Karma

Rough_Rock
Joined
Jun 4, 2008
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6
So I found this ring about 3 yrs ago.. after posting a notice for 90days and waiting for someone to claim it, noone has come forward... SO, it''s been sitting on top of my dresser and I would wear it from time to time but just as an extra piece... WELL.. in the last for months..things haven''t been so great.. job change, new move, money is tight..blah blah blah. and a friend of mine suggested I take the cz filled ring to the pawn and get some cash for the 18kt white gold.. Instead I take to a local GIA Certified Appraiser, pay him $30.00 and this is what he tells me... The ring has 35 princess cut 10-12 pointers, 40 princess cut .08-10 pointers and 99 princess cut .04 pointers. So 174 Diamonds total and here I thought they were czs. Oh yes.. before I forget the color is G and the clarity is SI. total weight of ring is 18.44 gms. The appraiser informed me that he would price the ring between 10,000. and 12,000.
NOW.. here''s where my problem comes into play.. I don''t want the ring. It''s not something that I would wear and now that I know the value of it.. I would be a wreak trying to keep up with it. I want to sell it. I would like to post a picture but I''m sure that as soon as I do about 1698765416351 people have lost that same exact ring..lol.. jk. How do I get rid of it and reap the benifits of its value at the same time? Are there people who just buy these type of diamonds just because? Should I sell it on ebay? Should I pay someone to sell it? I''m so confused.
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I wouldn''t sell it. I wouldn''t feel right selling something which isn''t mine. I know nobody claimed it but still..... I would probably donate it to charity or something.
 
Well, I would definitely check in the FAQs section - I believe there are some threads about reselling a ring.

I agree with Maisie - I''d have a really hard time selling something that isn''t mine, even with tough times and knowing that you did do the right thing in terms of trying to find the owner. I would probably feel most comfortable giving it to charity, too. If you''re in dire need of the $, then sell it, use the money, and then remember the amount so when you''re in better times, you can pay it forward to someone else who could use a streak of luck.
 
I''ll go against the grain and say sell that baby. You tried to find the owner, no one came forward, so it''s yours now.

Craigslist might be a good place to start. Unless you know what you''re doing on ebay it can be a pain and not really get you much. A local pawn shop might be worth a trip to see what they''ll offer you for it too.
 
I agree with MustangGal - you tried to do the right thing, but no one came forward at the time.

You don''t know - maybe the person who lost it really didn''t like the ring either and was relieved to lose it and get insurance money for it. Not saying that''s what happened, just that there''s no way to know, and you tried to do the right thing.

I''d try eBay or Craigslist, just make sure you get paid through PayPal.
 
I''d sell it too. If it''s not your style and no one has stepped forward to claim it after you''ve tried then do what you want with it. I would, just for piece of mind, try one more time to find it''s original owner.
 
You could try craigslist or consigning it with pearlman''s if it looks ot be a popular style.
 
Date: 6/4/2008 2:42:23 PM
Author: mercoledi
You could try craigslist or consigning it with pearlman''s if it looks ot be a popular style.
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I agree about consigning it with someone reputable such as Pearlmans.

Wouldn''t feel guilty about selling it at this point. It''s not like you didn''t try to find the owner first.
 
I THINK that technically, you were required to give it to the police who would hold it for a certain period and return it to you if it wasn''t claimed...that said, you said you thought it was fake (but then why did you bring it to GIA?)...anyhoo, I''m sure it''s too late and someone isn''t still looking for it...I''d give it another try to make you feel better about it and then sell it. I would bring it to a shop to sell it on consignment...some will only take 10%....
 
Date: 6/4/2008 3:44:10 PM
Author: moremoremore
I THINK that technically, you were required to give it to the police who would hold it for a certain period and return it to you if it wasn''t claimed...that said, you said you thought it was fake (but then why did you bring it to GIA?)...anyhoo, I''m sure it''s too late and someone isn''t still looking for it...I''d give it another try to make you feel better about it and then sell it. I would bring it to a shop to sell it on consignment...some will only take 10%....
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Hmm, why indeed?
 
The OP can probably answer, but if I had a ring that was stamped 18 kt, I'd double check, too.
 
Honestly, I''d take anything to a jeweller before thinking about selling it if it looked even remotely like a real stone. Just to be on the safe side. I''d want to know my stuff to see what to expect for it.
 
I am not questioning your ethics and think that you did the right thing by trying to find the original owner. If I had lost the ring, I sure would have put a lot of effort into finding it. Obviously no one did in your case and I don''t think that you are required to turn it to the police as long as you advertise put in a local publication. Technically the ring is now yours and you can do what you like with it. I would not recommend taking it to a pawn shop because you will get next to nothing. Craigslist is probably your best bet and try other options if that doesn''t work. Remember your are not likely going to get more than half of what it appraises for.
 
Lucky you!!!!!!! Sell on ebay! They have a huge market for diamond rings. Not only consumers but companies look online there to see if they can get a deal.
 
Ebay is full of scam artists and rings rarely go for what they are worth, no one wants to take a chance that you''ll misled them.

I''d go for someone like Pearlmans myself.
 
I''d look for a local consignment jeweler.
 
I would try the consignment route also. Good luck.
 
Didn''t really mean to take to a GIA ... that''s just the guy that was available at the Houston Jewelry Exchange. Just happen to be that way. I assure you..the way things have been for me in the last 3 years....had I known they were diamonds, I would have sold it a LONG time ago. Holding it for 90 was company policy.
 
I thank EVERYONE for their input. Now to search the web for Pearlmans? Funniest thing about this is.. I don''t even know what Pearlmans is..lol.. Wish me luck!

My kids and I thank each and everyone of you!!
 
Date: 6/5/2008 11:15:04 AM
Author: Ms.Karma
I thank EVERYONE for their input. Now to search the web for Pearlmans? Funniest thing about this is.. I don't even know what Pearlmans is..lol.. Wish me luck!

My kids and I thank each and everyone of you!!
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http://www.pearlmansjewelers.com/
 
Date: 6/5/2008 11:25:08 AM
Author: Skippy123

Date: 6/5/2008 11:15:04 AM
Author: Ms.Karma
I thank EVERYONE for their input. Now to search the web for Pearlmans? Funniest thing about this is.. I don''t even know what Pearlmans is..lol.. Wish me luck!

My kids and I thank each and everyone of you!!
Click to expand...
http://www.pearlmansjewelers.com/
Click to expand...
THANKS SKIPPY!!!
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Good luck! And please update us, I''d love to hear what happens with the ring.
 
Personally, I wouldn''t sell an item valued that much on Craig''s List. You have to post a phone number and using a reverse directory a thief can locate you. On Ebay, only the buyer learns your exact identity and chances are your buyer will not be a resident of your area. You never need to meet with the buyer and as long as you insure the shipment and require a signature confirmation it is a safe way to go. With the GIA appraisal you should have an added value that you can pass along in your asking price. In my experience, Ebay isn''t all that hard to use. And sometimes they run promotions that reduce the listing fees so if you don''t need to sell quickly wait until you see one of the reduced priced listing offers on Ebay. As long as you describe the item correctly and post sufficient number of pictures along with the info. you obtained from the appraisal you should have no problem. I say, go for it!
 
Date: 6/6/2008 1:43:42 AM
Author: GemView
Personally, I wouldn''t sell an item valued that much on Craig''s List. You have to post a phone number and using a reverse directory a thief can locate you. On Ebay, only the buyer learns your exact identity and chances are your buyer will not be a resident of your area. You never need to meet with the buyer and as long as you insure the shipment and require a signature confirmation it is a safe way to go. With the GIA appraisal you should have an added value that you can pass along in your asking price. In my experience, Ebay isn''t all that hard to use. And sometimes they run promotions that reduce the listing fees so if you don''t need to sell quickly wait until you see one of the reduced priced listing offers on Ebay. As long as you describe the item correctly and post sufficient number of pictures along with the info. you obtained from the appraisal you should have no problem. I say, go for it!
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You don''t have to post your number. You can choose to have them contact you through Craigslist by email.
 
Just so you know, appraisals are often very very inflated. So just because an appraiser tells you it's worth 10k doesn't mean it really is...you might only get $1,000 for it reselling it used...and maybe not even that much if it's not a style that is popular anymore.

Just wanted to make sure your expectations are realistic.
 
i'd have to say sell it! you tried to find the owner, i'm sure that if they knew what it was worth it was insured, so if they cared enough about to they most likely had it replaced with insurance....and it was three years ago?! i think you've done all you can to try and get it back to the owner, now it's time for it to do you some good.
 
I agree to sell it. I posted a longer response earlier but it got eaten aarggh.
I would though like to see a picture - simply because i cannot imagine what a ring with 174 princess cuts will look like?
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I can assure you, PS''ers are for the most part a responsible bunch - I doubt people would start laying claim to it. Regardless, this is totally anonymous so you don''t have to take any notice if they do..

I am only saying out of personal interest of course
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Ms. Karma, the universe is acting on your side. IMHO, you have made clear attempts to try and reunite the ring with it''s owner and now, it is yours to keep/sell/throw in a river. I suggest selling it.
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Lucky you!
 
Date: 6/6/2008 6:17:33 PM
Author: neatfreak
Just so you know, appraisals are often very very inflated. So just because an appraiser tells you it''s worth 10k doesn''t mean it really is...you might only get $1,000 for it reselling it used...and maybe not even that much if it''s not a style that is popular anymore.

Just wanted to make sure your expectations are realistic.
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Ditto. I was about to say that you could expect to buy it new for maybe half what the appraiser said. Then on the used market, half of that or maybe less depending on whether the style is popular or not. But it belongs to you and you have a right to sell it. At least you don''t have to worry if it sells for a low amount since you have nothing to lose.

I will say that Pearlman''s specializes in designer pieces and sometimes sells solitaires and other used pieces, but they may not take everything.
 
Date: 6/6/2008 6:17:33 PM
Author: neatfreak
Just so you know, appraisals are often very very inflated. So just because an appraiser tells you it''s worth 10k doesn''t mean it really is...you might only get $1,000 for it reselling it used...and maybe not even that much if it''s not a style that is popular anymore.


Just wanted to make sure your expectations are realistic.
Click to expand...

Yes, I agree. This sounds like a cluster ring, in which case I highly doubt it''s worth anything near $10,000. Factor in that you''re a private seller, and the likelihood of you getting anything close to that is even less. If the person who appraised it so highly also sells jewelry I would take it to him or her and try to get an offer from them.

P.S. If you''ve had it for 3 years already I think you should definitely sell it.
 
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