Any store you know will buy wedding and engagement ring?

[kblucero]

Hi, my friend just went through a tough divorce and she is in need of money right now, she wants to sell her engagement and wedding rings. Any store you know who will buy her rings?

 

[ame]

She might find one willing to buy them but she won't get much for them, IF they are even willing. Jewelers are not often willing to take a gamble on the history of a preowned diamond, especially when they have no guarantee they can resell it or turn it back into the supply. They usually can get a new stone they know the details of and know they can sell for less than they can pay you. They won't likely take the settings, they'll want the stones, and they won't pay her anywhere near what they're worth. She's better off not selling them at all.

 

[cdtracing]

If a jeweler will buy the stones & is willing to buy the gold as well, the most they will pay is scrap price which is next to nothing. Pawn shops will only give you a small fraction of what it's worth. She might be better off selling it herself on Ebay.

 

[kblucero]

She might find one willing to buy them but she won't get much for them, IF they are even willing. Jewelers are not often willing to take a gamble on the history of a preowned diamond, especially when they have no guarantee they can resell it or turn it back into the supply. They usually can get a new stone they know the details of and know they can sell for less than they can pay you. They won't likely take the settings, they'll want the stones, and they won't pay her anywhere near what they're worth. She's better off not selling them at all.

That was what I was thinking but who would want to buy a wedding/engagement ring with the history? She is actually willing to sell for less...

 

[kblucero]

If a jeweler will buy the stones & is willing to buy the gold as well, the most they will pay is scrap price which is next to nothing. Pawn shops will only give you a small fraction of what it's worth. She might be better off selling it herself on Ebay.

I am actually scared of selling it through ebay due to buyers who would complain a lot and then return something that's a fake... It's worth too much to sell on ebay by an amateur...

 

[ame]

Worth is relative. Reality is that she's not gonna get more than scrap, which is literally like a couple hundred dollars. She will spend more on gas trying to get offers than she will get from anyone. It isn't the history, it's that they are preowned. Much like cars, diamonds basically depreciate when you walk out the door. Not really the best explanation but it will give you an idea. They don't hold the value in the secondary market that they did in retail market unless they are somehow provenant, like a celeb owned or bought it or there's a scandal or serious rarity aspect. Appraisals mean nothing in resale, those are for insurance only. She is highly unlikely to get anyone to buy the stones unless they're of some special provenance or the specs and quality are in serious demand and if she gets lucky and finds someone who will, then it will likely be for a pittance because as I said, the jeweler does not know the history of the stones and your word means nothing. They can't resell what they can't prove or trace.

I know it's not what anyone wants to hear, esp in desperate and sad situations but they're worth more in your hands than when you try to sell them.

 

[cdtracing]

Worth is relative. Reality is that she's not gonna get more than scrap, which is literally like a couple hundred dollars. She will spend more on gas trying to get offers than she will get from anyone. It isn't the history, it's that they are preowned. Much like cars, diamonds basically depreciate when you walk out the door. Not really the best explanation but it will give you an idea. They don't hold the value in the secondary market that they did in retail market unless they are somehow provenant, like a celeb owned or bought it or there's a scandal or serious rarity aspect. Appraisals mean nothing in resale, those are for insurance only. She is highly unlikely to get anyone to buy the stones unless they're of some special provenance or the specs and quality are in serious demand and if she gets lucky and finds someone who will, then it will likely be for a pittance because as I said, the jeweler does not know the history of the stones and your word means nothing. They can't resell what they can't prove or trace.

I know it's not what anyone wants to hear, esp in desperate and sad situations but they're worth more in your hands than when you try to sell them.

+1 Sad but unfortunately true.

 

[tinybutterfly]

Maybe it depends on where you live. Here (the Midwest) I've never encountered any issues with a jeweler worrying about the history of the stones.

In general where I live a person would get approximately 1/3 the value of the original purchase price. You get scrap prices for the metal. For example if it was originally worth $9,000.00 she might get $3,000.00.