# Jewellry Buyback? Rings specifically



## Erome (Jan 11, 2011)

Anyone know a good process for selling a Diamond ring?

A long sad story but I've got a great beautiful ring I need to sell. It's like a 0.96 carat, VS1, H grade diamond set in knife edge platinum... So suffice to say not finding much on Kijiji haha.

It's appraised at like 12000, although I know I'll be lucky for half that value. Has anyone ever gone through this or heard of someone who found a decent fiscal approach to this?


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## financialnoob (Feb 26, 2011)

Sorry to hear about the situation. 

The problem is the mark-up on diamonds is so ridiculously high that you have to accept a significant loss when reselling. I saw some on eBay that were appraised at certain values but selling for 75 to 80% of that, probably to those who are looking to buy a ring at a discount from regular price. But there were a lot available and not sure how many actually sell for that.

It's such a tiny market, and then you have a serious distrust from how these things are priced. And do you really want to spend $7-$10K on an eBay seller with 1 sale to his name? It takes quite a bit of persistence. We tried to sell my mother's old engagement ring but gave up after a bit. She didn't need the money, and we didn't have the time or energy to keep pursuing it. 

I saw this site recently and thought about giving it a try again but haven't had the time to look at it so do your own research on it, but might be of use:

http://www.idonowidont.com/splash2/index.html


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## Four Pillars (Apr 5, 2009)

Erome said:


> Anyone know a good process for selling a Diamond ring?
> 
> A long sad story but I've got a great beautiful ring I need to sell. It's like a 0.96 carat, VS1, H grade diamond set in knife edge platinum... So suffice to say not finding much on Kijiji haha.
> 
> It's appraised at like 12000, although I know I'll be lucky for half that value. Has anyone ever gone through this or heard of someone who found a decent fiscal approach to this?


I would just hang on to it - give it to the next lucky lady.


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## Saniokca (Sep 5, 2009)

lol I tried selling mine, appraised at 26k. Highest offer for it was 7k. if you read up on this, you should expect 35-40% of appraised value. Or reuse the diamond.


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## marina628 (Dec 14, 2010)

Keep it for a year in case you guys get back together , if that is not an option maybe go back to where you bought it and see it they will resell it for you.


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## Daniel A. (Mar 20, 2011)

The diamond is worth around 4000.00, the setting maybe 1500.00 

See what the folks where you bought from will give, after that maybe look for a trade of something you can use.
Insurance appraisals are just that, they are of no value in the market for real cost. Think 40% as being the real value it is a good stone which helps.

You never said what you paid for it just the apprised value.


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## Erome (Jan 11, 2011)

Hey all, purchased it through Blue Nile for $8500. Guess I'll be lucky if I can get 5-6k for it...


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## GreenAvenue (Dec 28, 2011)

I would hold on to it.

Another option is to find a gold smith and ask if he does the occasional sale. I used to work for one a long long time ago and there were enough people asking for 'deals' he had. He sold at a much higher rate because his clients were willing to pay more (not the Kijiji people). 

But personally I would hold on to the ring. Good luck though I hope your situation improves quickly!


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## blin10 (Jun 27, 2011)

that's the problem with used jewellery, it's not like GLD where you can cash out any time... I recently sold some gold chain, they offered me $900 at those cash for gold places, I sold it for $3k on ebay (took about 4 months), and it would of cost at least $7k in the jewellery store if they were selling it (my friend who works there told me)... ring is even worse to sell, you need a special type of buyer who would like it, try ebay you never know


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## realist (Apr 8, 2011)

Try a local non-chain jeweller, or eBay. Maybe sell it on consignment through them somehow? 

Reselling the diamond through a jeweller might also be a good option, I specifically got an "estate" diamond for my wife' engagement ring, and paid a premium for it as a small step towards mitigating the "evils" of diamond mining.

My mom had to sell a LOT of estate sale jewellery and got pennies on the dollar for most of it.

Good luck!


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## Andre112 (Apr 27, 2011)

Sorry it didn't work out.
I was in a similar situation. I didn't ask for my ring back.


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## BigGuy (Feb 11, 2012)

Erome said:


> Anyone know a good process for selling a Diamond ring?
> 
> A long sad story but I've got a great beautiful ring I need to sell. It's like a 0.96 carat, VS1, H grade diamond set in knife edge platinum... So suffice to say not finding much on Kijiji haha.
> 
> It's appraised at like 12000, although I know I'll be lucky for half that value. Has anyone ever gone through this or heard of someone who found a decent fiscal approach to this?


Just throwing this out there, might not work for you. I recently got engaged(!!) and ended up buying a Hearts on Fire ring from a local jeweler. They have a buyback program for their rings if you want to upgrade. You could try advertising that on kijiji or something? Maybe try to negotiate for you to get like 85% back? That way someone gets themselves a deal on a 'new' ring and you can get most of your cash back as well. Best of luck!


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