Post # 1
Okay, I’m seriously HOPING none of you actually know the answer to this question from personal experience, but you girls are always such a wealth of information so I figured I’d put this out there just in case anyone has any good suggestions.
My engagement was broken off 2 1/2 weeks ago. I gave the ring back to my ex and our intention was for him to sell the ring and use the money to pay my dad back for any money he’s put down on non-refundable vendor deposits. Any money we make over and above my dad’s costs is for my ex to keep.
So I’m wondering if you girls know the best way to sell a diamond or an engagement ring to get the most money back? Where would you start? Are there any good sites I should know about? Anywhere I should NOT go? Do you know anything about pawn shops? (They sound so skeevy to me!) My ex was going to start by taking it back to the jeweller he bought it from and see if they will buy it back, but if they won’t, then I wouldn’t even know where to go next. Technically this is not my problem to deal with, it’s my ex’s, but I want to make sure he at least gets back enough money to pay my dad back so I want some information about it.
Post # 3
This stuff is no fun. And while I know it’s no longer yours, I can see you wanting to make sure your dad gets paid for the deposits.
I’d start by gathering all the info on the ring: what’s the metal, cut, carat weight, what’s the diamond rating, do you have any paperwork on it etc. All of these things will make it easier for a buyer.
Didn’t someone suggest a ring site not to long ago? I think this was it…
I also found these…
Hope that helps!
Post # 4
First off, I am VERY VERY VERY sorry about your broken engagement. Remember that everything happens for a reason…
As for the engagement ring-unfortunately my sister and one of my best friends both were divorced last year, and encountered this issue. First off, sadly, once a diamond is purchased, you almost will never get the same amount of money back. Most rings cannot be sold back as a "ring" per say, but as individual diamonds (you are fine if you have a solitaire.) I would definitely suggest trying the jeweler you bought it from first.
Pawn shops will treat it as vintage, even if it’s new. My friend had a $20k ring, and they offered her $6k for it. So, that might not be the best route.
If all else fails, I would suggest trying to sell it to a diamond broker, or going the ebay route. I think that might be the way to get the most money for it.
I wish you all the luck in the world.
Post # 5
So sorry to hear that you called off your engagement.
In searching for wedding stuff I’ve found a NUMBER of people selling their rings on Craigslist. I’m sure you won’t get a full refund but just state what the ring cost, what it is appraised for and what you are willing to sell it for. Request a money order so you don’t get ripped off!
Also possibly try ebay! Or maybe even a local paper?
GL in recovering all your losses!
Post # 6
Okay, this is not to be stupid I guess, but I’ve never sold anything on eBay before. So how do I avoid getting completely lowballed and having to sell the ring for more of a loss than we’re willing to accept? Do you just put up a minimum bid amount or something? I don’t want to list it and only get one bid and then have to sell it for less than we want to sell it for.
Craigslist might not be a bad idea! We could always turn down offers through there that were too low.
Thanks for your support as well ladies. I’ve had a couple of weeks to wrap my head around it now so I’m doing fine now actually. Just wanted to ask about some of the lingering wedding-related stuff we have to figure out 🙂
Post # 7
Hey there, glad to hear you are doing better….
I may have a solution for you, but would rather talk offline about it. So when you get a chance, you can email me at [email protected]
Post # 8
I have had experience selling things on both ebay and craigslist. I think that selling the ring on craigslist will give you much more control over the selling price, and you could always arrange to exchange the ring in person, which will eliminate the risk of mailing such a valuable item. Just remember that if you do go that route, plan to exchange the ring in a very public place, bring along a friend, and request cash or money order, just to be safe! I wish you the best.
Post # 9
So sorry to hear 🙁
To answer your question about ebay: yes, you can set a minimum bid amount.
Post # 10
With eBay, you can set a reserve price (what you want to get for it) and so if the price never gets there, you do not have to sell it. Also, keep in mind that there are listing fees, final value fees and Paypal fees (if you offer that) with ebay, so keep that in mind with the price, it might be an additional $50 or more, depending on how expensive your ring is/ sells for.
With craiglist, there is no cost to list or final fee.
There are websites out there exclusively dedicated to this situation, but I don’t know how popular they are, but if it’s free, you might as well try.
Post # 11
It’s definitely going to be tough for you to get a decent value for the ring. One of my Co-workers had to deal with selling a ring (he caught his fiancé cheating on him… ouch!), and he was able to go back to the jewelry store where he bought the ring and negotiated a deal where they would try to sell the ring, and if they did he would just have to pay them a minor selling fee (commission) and if it didn’t sell they would just return it to him. He called them every couple of months to check if they had sold the ring, no dice.
After a year of it sitting in the jewelry store he decided to take it back and try to sell it in the local classifieds and on Craigslist. He got some offers but no where close to even half of what he paid for it. (it was an expensive ring, almost a 2ct diamond) . He decided to keep the ring for the time being, maybe when he meets the right girl he will melt it down and redesign a new ring although he’s a little concerned about the karma around the ring now.
Good luck with the ring. I hope you have better luck.
Post # 12
If you happen to be in the DC area be sure to check with washington Diamonds in Falls Church, the transaction was so easy and they geve me 30% more than any other Diamond broker I had contacted. send Tom an Email @ [email protected]
Post # 14
Don’t go to a pawn shop, I tried to sell a ring and they’d only give me 10% of what it was worth. They will only pay you the metal weight unless diamonds are over .25 carots.
EDIT: I didn’t realize this post was 4 years old :X
Post # 13
I had an old engagement ring from a previous marriage that both myself and my soon to be husband wanted to get rid of and get some type of money for. However, I am sure as everybody on here knows, the resale value on engagement rings when you take them to pawn shops or jewelry stores is not good at all. I do live in Dallas, and I found this place called Diamond Exchange that offers a consignement program. Since we were not in any hurry, we left there ring with them after talking to them. I wouldnt have just left my ring without any money to anyone, but these guys obviously new what they were doing plus a friend of mine had done the same thing. So, in my opinion, trying to sell your ring on craigslist can be dangerous, plus you have to deal with all kinds of weirdos.
Post # 14
Try diamondbistro.com. I buy jewelry there pretty regularly!
I’m so sorry for what you’re going through. Sending you lots of hugs!
Post # 15
I’ve read and seen some reviews online about a website called hockmyrock.com, that specializes in selling used engagement rings from broken engagements. I’m thinking about going that route myself, as my engagement was also just recently broken 🙁 still mulling it over though, as he doesn’t want it back, so I may repurpose the diamond / metal into either a new ring, or other peice of jewelery, that doesn’t have negative energy/memories attached to it. Idk, we’ll see. . Still too sad right now though. Good luck to any of you bees trying to sell your rings/jewelry, for whatever reason. I’ve been hearing a lot lately that