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Thread: Where to sell engagement ring?

  1. #1
    Craftsman
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    Where to sell engagement ring?

    *If this should be in the SC please move it, though I am asking for a family member and not selling anything myself, just not sure if I should post it there or in SC*

    Now the admin notice out the way, a family member is getting divorced and he wants to sell the engagement ring. Are there any places which give a good price for the ring or should I tell him to just turn up at say Jewellery Quarter and go to a few shops to sell it them? He wants back as much as he can.

  2. #2
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    (I'm sure he's thought about this, but assuming that the ring was given to his wife is it legally his to sell?)

  3. #3
    he could hawk it around the JQ but wont get much for it there - best off trying to sell on fleabay if he has a cert for it - pawn shops etc just look at the stone and what they can get one for - silly offers.

  4. #4
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    Yes the ring was given back to him by her as she no longer wants it. Everything from the marriage that he brought her was given back excluding a personal plate.

    And he does have all the certificates, receipts etc, was brought from JQ too

  5. #5
    Grand Master
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    Retail price and selling price privately are worlds apart.

    Whats the ring details, stones, size, clarity etc etc.

  6. #6
    Master
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    Smack Converters?

  7. #7
    Master
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    I think if it's a decent Solitaire it's worth something but peanuts otherwise.

  8. #8
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    Quote Originally Posted by Hood View Post
    I think if it's a decent Solitaire it's worth something but peanuts otherwise.
    This Im afraid.Mate got a shock when the jeweller offered scrap value for the gold and told Him He wasnít interested in the diamonds(metal detecting find)

  9. #9
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    If the diamond is big enough,ask the jeweller to repolish the engraving then try to sell on ebay or other online platforms

    Since Iím also a jeweller,usually I do repurchase sold jewellery for a cut that was discussed beforehand (though there are some jewellery that I cannot take back too,especially the expensive,special order pieces)

  10. #10
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    Thank you all for the responses. I think the ring has just over 1.3 carats in it with just over 1 carat on the main diamond alone. I know itís got high clarity, virtually flawless and IGE(?) certification.

    Iíll get the full details off him and post it in SC. I can imagine the buying from a shop then selling privately is worlds apart. I know when selling gold, shops have a labour charge

  11. #11
    Quote Originally Posted by EmilA View Post
    Thank you all for the responses. I think the ring has just over 1.3 carats in it with just over 1 carat on the main diamond alone. I know itís got high clarity, virtually flawless and IGE(?) certification.

    Iíll get the full details off him and post it in SC. I can imagine the buying from a shop then selling privately is worlds apart. I know when selling gold, shops have a labour charge
    I imagen it will be IGI. Unfortunately they are known for over rating somewhat compared to GIA - who are considered the gold standard in terms of certifications.

    I think that this will come down to the main stone value - the rest will be pretty valueless.

  12. #12
    Grand Master GraniteQuarry's Avatar
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    Better prepare him for offers of 25% on cost...

  13. #13
    Master
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    Quote Originally Posted by GraniteQuarry View Post
    Better prepare him for offers of 25% on cost...
    If he's lucky.

  14. #14
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    Atleast I can tell him in advance. Thanks again for the replies everyone

  15. #15
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    If the offers are derisory maybe he should just keep it for the next lucky lady.

  16. #16
    Grand Master Andyg's Avatar
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    Quote Originally Posted by Benji053 View Post
    If the offers are derisory maybe he should just keep it for the next lucky lady.

    I would say the the same thing. Or maybe keep the stone and flog the rest as a setting.

    I doubt the future Mrs would want the ex's engagement ring.

    Whoever does not know how to hit the nail on the head should be asked not to hit it at all.
    Friedrich Nietzsche


  17. #17
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    Presuming he just wants it out of the way and isn't desperate for the cash, find a decent independent who will sell on commission. It'll cost him 20 or 25% of the window price (which is usually half of the retail price) but it'll be a damn sight better than selling it outright.

    If that ring was 8,000 new then he's going to be lucky to get £1500 back as a cash sale... the mark-up on new diamond jewellery is phenomenal which is why I stick to second hand and bespoke.

    If he can get a jeweller to broker it for him, assume a £4000 sale and he'll get over 3 grand back.
    It's still taking a whack but it's the best value he's going to get.

  18. #18
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    It cost him about £5k in total I think. He just wants a clean break from it too and doesnít want it hanging around forever. I havenít asked him if he wants to pass the diamond on, though even my wife wouldnít be comfortable with me buying it off him due to the connection thatís there.

    Didnít think about asking someone to sell it on for commission. Not a bad idea actually.

  19. #19
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    I ended up receiving a few PMís about the ring so once I get the details off him, iíll put up an advert in the Sales Corner.

    Weíre flying to Japan for a week on Sunday so I may delay the SC post till weíre back

  20. #20
    Quote Originally Posted by Tom-P View Post
    (I'm sure he's thought about this, but assuming that the ring was given to his wife is it legally his to sell?)
    Legally it's not his to sell or otherwise do anything with (assuming it was handed over to start with). There are quite a few cases about this.

  21. #21
    Quote Originally Posted by EmilA View Post
    I ended up receiving a few PMís about the ring so once I get the details off him, iíll put up an advert in the Sales Corner.

    Weíre flying to Japan for a week on Sunday so I may delay the SC post till weíre back
    You canít sell it here. One of the very few rules

  22. #22
    Master PhilipK's Avatar
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    Quote Originally Posted by hansblix2001 View Post
    Legally it's not his to sell or otherwise do anything with (assuming it was handed over to start with). There are quite a few cases about this.
    But the OP has said:
    Quote Originally Posted by EmilA View Post
    Yes the ring was given back to him by her as she no longer wants it. Everything from the marriage that he brought her was given back excluding a personal plate.

  23. #23
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    I’ll have to check the rules about the SC then, selling via PM isn’t my intension though as I’d like to stick to the rules.

    edit - just saw the seller must own the item themselves, I guess this is the tricky part?

    I guess this is the tricky part, they never had a civil marriage so legally speaking they were never married. The couple chose to stick to the religious ceremony only. Let’s not turn this into a religion thread though please!
    She 100% doesn’t want anything from their wedding, when she came to collect her belongings she only took what she brought herself.
    Last edited by EmilA; 3rd September 2019 at 19:27. Reason: Updated response

  24. #24
    Quote Originally Posted by PhilipK View Post
    But the OP has said:
    ah fair enough, I missed that!

  25. #25
    Quote Originally Posted by EmilA View Post
    She 100% doesnít want anything from their wedding, when she came to collect her belongings she only took what she brought herself.

    She sounds like my kind of girl!

    Iím always on the lookout for a new ex-wife...... have you got her number?

  26. #26
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    Quote Originally Posted by RJM25R View Post
    She sounds like my kind of girl!

    Iím always on the lookout for a new ex-wife...... have you got her number?



    Sent from my iPhone using TZ-UK mobile app

  27. #27
    Master wileeeeeey's Avatar
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    Quote Originally Posted by EmilA View Post
    Iíll have to check the rules about the SC then, selling via PM isnít my intension though as Iíd like to stick to the rules.

    edit - just saw the seller must own the item themselves, I guess this is the tricky part?

    I guess this is the tricky part, they never had a civil marriage so legally speaking they were never married. The couple chose to stick to the religious ceremony only. Letís not turn this into a religion thread though please!
    She 100% doesnít want anything from their wedding, when she came to collect her belongings she only took what she brought herself.
    Lucky she doesn't want anything from the marriage as that's her entitlement. Never understood couples who have their Nikkah but not the legal ceremony. I have family who have done this and find it unreasonably stupid.

  28. #28
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    £5k sounds a very reasonable purchase price if he's got a 1 carat diamond in it.

  29. #29
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    Quote Originally Posted by anton863 View Post
    £5k sounds a very reasonable purchase price if he's got a 1 carat diamond in it.
    You can get a very decent 1ct diamond for a lot less than five grand if you know where to go and I do NOT mean high street jewellers!

  30. #30
    Quote Originally Posted by KavKav View Post
    You can get a very decent 1ct diamond for a lot less than five grand if you know where to go and I do NOT mean high street jewellers!
    Absolutely! I have a few 1ct solitaires in at the moment all nice stones at around half that!

    Hope you are well Tom :)
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  31. #31
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    Quote Originally Posted by KavKav View Post
    You can get a very decent 1ct diamond for a lot less than five grand if you know where to go and I do NOT mean high street jewellers!
    You are indeed correct. I was a bit anchored to the stone I bought for the wife's engagement ring G VS2, didn't realise the price difference when you go down the order! Although we might have a question over the definition of 'very decent'!

  32. #32
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    Quote Originally Posted by alexaff View Post
    Absolutely! I have a few 1ct solitaires in at the moment all nice stones at around half that!

    Hope you are well Tom :)
    Recuperating from elbow surgery last Wednesday but otherwise fine! Hope you are well Al.

  33. #33
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    The ring in total was around that, there are a few diamond on the band. He is currently getting a hold of the certificate so Iíll know the exact details soon.

    Is there someone from the admin team I can speak to about posting an advert in SC? Iím more than happy to donate myself to the fundraiser for it.

    In terms of the nikkah, it was a choice they made together.

  34. #34
    Master PhilipK's Avatar
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    Quote Originally Posted by EmilA View Post
    Is there someone from the admin team I can speak to about posting an advert in SC? Iím more than happy to donate myself to the fundraiser for it.
    There's no "admin team" here - just Eddie (and he's recovering from major surgery, so possibly not the best timing to ask him).

    The reason for the rule is that the seller needs to take full responsibility for the sale (e.g. if the ring was sold on SC and then found not to be as described, or if it got lost in the post). [For the avoidance of any doubt, I'm not for an instance suggesting that there is anything wrong with the ring; just explaining the rationale behind the sales rule]

    If you are willing to stand by the sale, then you could probably "buy" the ring from your friend and then sell it on SC. It's unlikely that people would take umbrage at this, especially if there was a contribution to the fundraiser.

  35. #35
    Master jukeboxs's Avatar
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    Quote Originally Posted by EmilA View Post
    ... Iím more than happy to donate myself to the fundraiser for it...
    Not sure how many takers you'll get, you might be safer with just a cash donation.

  36. #36
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    I have the ring details however he is not willing to sell the ring until the divorce is finalised. I know a few people had messaged me about so thought itís easier to post this publicly.
    A for sale advert will be posted in SC when the time comes

    - - - Updated - - -

    Quote Originally Posted by jukeboxs View Post
    Not sure how many takers you'll get, you might be safer with just a cash donation.
    hahaha I just saw this! Your right, a cash donation will be the best option ha

  37. #37
    Grand Master hogthrob's Avatar
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    Quote Originally Posted by EmilA View Post
    Yes the ring was given back to him by her as she no longer wants it. Everything from the marriage that he brought her was given back excluding a personal plate.

    And he does have all the certificates, receipts etc, was brought from JQ too


    Sounds like he already hit the jackpot, by not being taken to the cleaners by his ex. Out of interest, do you know roughly what the ring was bought for?

  38. #38
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    It was 4000 something, the number started with a 4, all I can remember

  39. #39
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    The ring is now up for sale, it was put onto the SC but looks like it’s been deleted as I didn’t clarify that I am in possession of the ring.

    If someone is able to clarify the details as to why it was removed, as I don’t wish to post it up again for it to be deleted.

  40. #40
    Master
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    Quote Originally Posted by EmilA View Post
    The ring is now up for sale, it was put onto the SC but looks like itís been deleted as I didnít clarify that I am in possession of the ring.

    If someone is able to clarify the details as to why it was removed, as I donít wish to post it up again for it to be deleted.
    Probably because it doesnít actually belong to you. It needs to be your property for you to put it on SC. Just flog it to Cash Converters.

  41. #41
    Quote Originally Posted by EmilA View Post
    The ring is now up for sale, it was put onto the SC but looks like itís been deleted as I didnít clarify that I am in possession of the ring.

    If someone is able to clarify the details as to why it was removed, as I donít wish to post it up again for it to be deleted.
    Have you read and understood the rules for posting is SC.

  42. #42
    Craftsman
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    Yes that was one thing which another poster mentioned in this thread, that as I did not own the ring I couldnít post an advert. I did forget to mention that I was in physical ownership of the ring

  43. #43
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    Quote Originally Posted by EmilA View Post
    Yes that was one thing which another poster mentioned in this thread, that as I did not own the ring I couldnít post an advert. I did forget to mention that I was in physical ownership of the ring
    Have you brought it from your friend then?

  44. #44
    Quote Originally Posted by Captain Morgan View Post
    Have you brought it from your friend then?
    Expect he's bought it home.

    My ring's not for sale BTW.

  45. #45
    Personally, at £2400 for a 0.75 carat diamond I thought it was a little over priced anyway considering it was used.

    I base that purely on the value of the diamond itself. Not sure how much more value the ring itself would have added.

  46. #46
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    Appreciate the feedback. I’m just considering if I should buy it off him and then list it for sale myself here.

    And point noted regarding it’s advertised price, I should move into the diamond business as the mark ups are huge!

  47. #47
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    Quote Originally Posted by hansblix2001 View Post
    Legally it's not his to sell or otherwise do anything with (assuming it was handed over to start with). There are quite a few cases about this.
    Legally if she threw the ring back at him, it is his to sell as the the gift was rejected.

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