So how would I go about selling a ring...

In My Humble Opinion
1

I have a very nice Tsavorite Garnet and diamond ring. I don’t wear it. I’m not sentimentally attached to it. And I’d really rather use the money for training my horse. So how do I go about selling it? It’s appraised at $8250, I paid $5600 for it last May. I’ve looked at one consignment shop in town and they charge 30%. I’m considering eBay, but I’m not sure about listing something worth this much.

Does anyone here have experience selling jewelry (and getting a decent amount for it)? How did you go about it?

Thanks!

2

If you go the eBay route, I’d suggest an appraisal. Top notch photos are a must, too. Perhaps a gallery listing, as well (a bit pricey, but considering the value, it might pay off).

3

Amen to eBay. Write a good detailed listing, scan the appraisal and offer to email it to potential bidders, and post good pictures.

4

If you can find a local private buyer who knows the history of the ring that might be best.

Ebay is a great place to buy jewelry but not so great to sell.

Colored stones don’t tend to bring much and as you can tell by your appraisal, having one does not mean much “$8250 vs. actual sales price of $5600”

My best guess would be that about 25% of the actual sale price would be the best you could hope for.

I would consider keeping it unless you must sell. Jewelry is one of the highest mark up items out there.

If you want to know how much it is really worth take it back where you bought it and ask how much they will give you for it.

I have been buying and selling on EBay since 1998 for what its worth.

Good luck

5

This bears repeating. I am not familiar with the kind of ring you have, but unless it is something like a Canary Diamond or Platinum setting from Tiffany’s, everyone I have known that has paid $2500 or so for a ring ( on vacation - cruises…if you must know) and they always felt they got a great deal because it was normally $3800…sold their rings years later…when the buzz of it all wore off…for about $500 give or take a few bucks. (This is in three cases…so my experience is jaded and biased.)

Don’t get your hopes up on making $5000.

However, have fun with your horsie!

6

I’m totally fly-balling this, so take it as you will…

What about calling jewelry stores that sell estate jewelry + new stuff? Usually, imho, these aren’t chains like Zales, Kay, etc. They may be able to offer you a better deal fee-wise, and might give good advice.

Just my thought.

7

A close family member runs a jewelry store. Her standard markup is 75%, and this jewelry store is considered one of the more reputable ones. That is, they try to use quality metals & stones, and they don’t play into that whole bit where everything is always on sale - their prices are as marked, if they feel that something is worth $5000, they mark it at $5000, not $6850 marked down to $5K.

Still, 75% markup… think about it. I just can’t bring myself to buy a diamond or other high priced jewelry given how stupidly expensive it all is. Not to say I don’t have some nice jewelry - I do - but I tend to go with artist’s pieces, that kind of thing. That way I can convince myself that the stupidly high prices are for ART, not just because I’m a sucker. :smiley:

8

Getting rid of a Ring?

Where’s that travel brochure for Mordor & Mount Doom, it was here a minute ago…

9

What about a catapult?

10

I’ve been trying to sell my ring for a couple of years now. We just went to a local jewellery store and put it on consignment.

Mine is a white gold with gold trimmings, 4 small diamonds, one large, marquise-cut diamond engagement ring. It’s huge. It’s gorgeous. I hate it. It was given to me by the ex-fiance who ran off with another woman. I had it appraised. It’s worth approx. $1600 US. Not a fortune, but a little something.

Pawn shops offered $80 as their top offer. Don’t go to the pawn shops.

eBay sucked. I took great pictures from all angles, paid for the gallery, answered every email, every question, posted it on the page if something new came up, listed it for a week. Nothing. And I was out a small fortune myself - I paid more to list the thing than the pawnshops had offered me for it! Too heavy competition on eBay, because many jewellers have their gorgeous rings up for sale, and they know how to push them.

I looked into websites that screamed “We buy your diamonds! We buy your old jewellery!” Filled out some information, got emails back, all saying “Nah. Don’t want your stinking ring.” Well, maybe not in so many words, but you know what they meant.

So, I when I had to get one of my newer rings repaired, I brought along that stupid old ring. They wouldn’t buy it outright - marquise cut diamonds are not the in style right now. But they did put it on consignment. Started at $500. They called me back to ask me if I was willing to give more leeway on the price. I said $250, and they said that was excellent, and it would probably sell now. ~sigh.

Yes, my case is entirely different, what with the style of the ring and the value. However, be warned: you will never get $5000 for it… or anywhere near that price. I think the “rule” is 1/3 of the appraised value is what to expect - if you’re lucky? Can’t remember that for certain, but I’m sure some Dopers who work with jewellery will know.

Good luck. I’m still waiting for mine to sell. I’ll update if it does sell, though. Or if they want me to go even lower… I suppose I shouldn’t complain, after all, I’m not the one who bought the thing, so I’m really getting something for nothing :wink:

11

Jewelry is always a poor ‘investment’ for this very reason- there is no place to resell it. Store markups can be as high as 400%!.

I had poor luck selling a ring on eBay for a neighbor, also. Most listings got no offers and the two times I did sell the ring, the high bidder didn’t pay.

I don’t think there is a good way to sell the ring. JMO.

12

I don’t know how to get on it-but if you want to sell a coloured stone I would suggest going through www.cherrypicked.com-they have statements indicating private buyers are using the service.