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I bought the ring fifteen years ago for ~$3,600 and we broke up several months later. I never took the time to research how to sell a ring. I realize I will likely not get the full amount back. Also, the ring and diamonds have no documentation, registration, or insurance.

Asking a pawn shop to make an offer feels foolish. A jeweler sounds better but they must still make a profit. Online jewelry sites (like Worthy or CashForDiamonds) likely have huge markups. I am unsure if it is worth it to have a ring of this value appraised. I am unsure if buyers online (like eBay) will risk buying a ring without documentation. I do not understand all the factors here.

How do I sell this ring and get the most money for it?

JohnFx
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user125877
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2 Answers2

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If you were trying to sell a car you would check used car price websites to get a guesstimate. You would then have to take the car to places that buy cars and have them make you an offer. If you like the offer. accept it. If you don't, move to the next place.

With a car you can determine make, model, and year easily. With a piece of jewelry not so much, if you don't have the original paperwork.

You can ask your insurance company how they determine the value of the item. You can also take the item to a jeweler, and get an estimate.

A jeweler sounds better but they must still make a profit.

Yes they will give you less money then they can sell it for, but that was also true in the car example.

I am unsure if it is worth it to have a ring of this value appraised.

It doesn't take long to get an estimate from a local store.

Visit a few places and make a decision.

mhoran_psprep
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For full disclosure, often times a jeweler will allow you to return the item in such cases. Even if they give store credit in exchange you can get yourself a nice watch or gifts for family. Not after 15 years though.

The good news is that generally speaking precious metals and diamonds rise in price overtime so a good place to start is to understand what the retail price of a similar ring will cost you these days. Go shopping and see how much a similar ring will cost you.

Then go from there. I'd price it around 50% of what a retail ring will cost you and find a site in your location that specializes in selling used engagement rings. Some retailers (like Kay jewlers) will sell used engagement rings and that might be the simplest way to get rid of this. You won't get as much money but the hassle will be a lot less.

Pete B.
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