Selling a wedding ring after divorce (1 Viewer)

[offdee]

She should look to sell it on eBay or something similar for 6-7K.

That has been a consideration. Is the best way to go about this to just show pics of the ring (obviously) and also a pic of the certification paperwork? Any other ways to prove on there all is legit for perspective buyers?

Other note is we'd be setting up a new Ebay account to do this so no real history of past successful deals, etc. Don't want this in any way to appear like a scam.

You really think someone is gonna pay $6k-$7k on eBay for a ring? Of course people will think it's a scam.

The point of this thread is to ask for suggestions on best approach to getting best return. Multiple people suggested eBay as that best route.

 

[urbanhack]

Drive down to Chicago for the day and take it to the highest bidder on Wabash Ave. in the loop.

 

[offdee]

She just sent me a pic of the appraisal documentation for insurance (if this info means anything for the scenario). And i do know the insurance appraised value is usually inflated.

Appraised value: $18,500

One platinum ladies wedding set with custom made wedding band. The engagement ring contains one princess cut diamond weighing approx 1.17 carats total weight. VS2 clarity, H-1 in color. Also containing 51 round brilliant diamonds head set approx 1.75 carats total weight, VS2-SI2 in clarity, and G-H in color. The wedding band containing 52 round brilliant diamonds approx 2.10 carats, SH-SI2 clarity and G-H color. 6.6D.W.T

 

[Limp Ditka]

She just sent me a pic of the appraisal documentation for insurance (if this info means anything for the scenario)

Appraised value: $18,500

One platinum ladies wedding set with custom made wedding band. The engagement ring contains one princess cut diamond weighing approx 1.17 carats total weight. VS2 clarity, H-1 in color. Also containing 51 round brilliant diamonds head set approx 1.75 carats total weight, VS2-SI2 in clarity, and G-H in color. The wedding band containing 52 round brilliant diamonds approx 2.10 carats, SH-SI2 clarity and G-H color. 6.6D.W.T

Again, that is retail, worst case scenario, appraisal. Think lost / stolen and what you'd have to pay to replace for an exact replica.

The main stone is completly middle of the road in both clarity and color. It's not crap, but there's nothing special about it.

 

[offdee]

She just sent me a pic of the appraisal documentation for insurance (if this info means anything for the scenario)

Appraised value: $18,500

One platinum ladies wedding set with custom made wedding band. The engagement ring contains one princess cut diamond weighing approx 1.17 carats total weight. VS2 clarity, H-1 in color. Also containing 51 round brilliant diamonds head set approx 1.75 carats total weight, VS2-SI2 in clarity, and G-H in color. The wedding band containing 52 round brilliant diamonds approx 2.10 carats, SH-SI2 clarity and G-H color. 6.6D.W.T

Again, that is retail, worst case scenario, appraisal. Think lost / stolen and what you'd have to pay to replace for an exact replica.

The main stone is completly middle of the road in both clarity and color. It's not crap, but there's nothing special about it.

Yep, i edited my post to note that i do know that appraisal value is always inflated. With the hassle and potential scam potential of ebay, the idea of going to Chicago for the day and just going with the highest bidder there and calling it a wrap is sounding like it may be the best option at this point

 

[Limp Ditka]

Now how about that pic?

 

[offdee]

Now how about that pic?

She looks like the love child of Becca from the Bachelor and Christina from Flip or Flop...

http://www.bustle.com/articles/133213-what-happened-to-becca-on-the-bachelor-chris-soules-was-seriously-smitten

http://www.dailymail.co.uk/tvshowbiz/article-3027735/HGTV-stars-Tarek-Christina-El-Moussa-expecting-second-child-two-years-cancer-scare.html

 

[Otis]

PM Righetti. He's in the industry and may be able to suggest something.

 

[Doctor Detroit]

And @ paying $12k for a ring. Good lord, suckers.

Can't believe it took 38 posts for someone to mention this obvious



That's just dumb.

 

[offdee]

And @ paying $12k for a ring. Good lord, suckers.

Can't believe it took 38 posts for someone to mention this obvious

That's just dumb.

Her ex is definitely an idiot of life. No disputing that one.

 

[Doctor Detroit]

Put it on here

 

[Doctor Detroit]

And @ paying $12k for a ring. Good lord, suckers.

Can't believe it took 38 posts for someone to mention this obvious

That's just dumb.

Her ex is definitely an idiot of life. No disputing that one.

Too bad there wasn't an opportunity for you to say, "hey guy, I just bought a car for $12k that has less mileage and will last twice as long as your ex wife." But it doesn't make a lot of sense to say it where you are currently sitting.

 

[xulf]

Spent 8k on a ring for the wife. Got a 50% discount because her friends dad was the diamond buyer for the store.

 

[cockroach]

.... but the sentimental value is through the ROOF!

:buy:

 

[Zow]

My in laws are in the jewelry business.

First thing that you need to realize is that your value doesn't equal the sellers. General markup in a store on even the high quality stuff is 2-3 times. Also legit sellers know you're in a weak position. So you might be able to get like 4K at best from s diamond dealer.

Really the best way, as it looks like has been mentioned is to try to sell it on ones own. The situation is common so eBay is a great options. There you're probably hoping to get like 6k. Just make sure to have the certs. Next best option is to trade in if she wants to recover value. A dealer may be more wiling to trade current stock so she could get like some sick diamond earrings and a tennis bracelet for it or something.

Regardless, getting near what was paid is a pipe dream.

 

[Zow]

Very nice ring that was paid $12K for....now sitting in a lock box collecting dust (with all gem certification papers) and no future use for it. And she doesnt want to reimagine the stones into another piece of jewelry (necklace, different ring setting). She just wants to sell it and move on.

I believe she went into one jeweler a couple years ago to inquire.....they offered $3K, she was discouraged and back into the lock box. I fully realize getting anything close to $12K by selling it is not gonna happen, but what is the best way to go about it to get the best return?

3k? She go see Rick Harrison?Aren't diamonds one of the things that retain their value or even go up after time?

I would try to find a place that takes in jewelry and go to a couple of them even if you have to drive a few hours.

Again, what s piece is "worth" isn't what the majority people but it for.

 

[Gawain]

Ebay would cap a new account and no one would buy from a no rating seller.

You'd be using an Ebay selling service that's taking 20%.

The middle stone isn't great and no one's buying 3/4 point diamonds for much.

What's the setting metal, karat and weight?

 

[offdee]

Ebay would cap a new account and no one would buy from a no rating seller.

You'd be using an Ebay selling service that's taking 20%.

The middle stone isn't great and no one's buying 3/4 point diamonds for much.

What's the setting metal, karat and weight?

Setting is Platinum. No idea any other specific details other than the appraisal details posted above.

 

[offdee]

As of right now the plan is to take a drive down to Chicago in the next couple of weekends and take the day to go into all jewelry stores in the Wabash Ave area (as recommended earlier) for quotes and just take the best one offered.

Seems that there's too much hassle and risk with eBay. Maybe taking it to a big city may inflate the number a bit more than trying to sell it to people or small jewelers in Milwaukee?

In any event, right now it's just sitting in a lock box collecting dust for the past 3 years and she has absolutely no ties or desire to keep this thing or hand it down (her ex is not a good person), so anything she can get for it is just gravy.

 

[Limp Ditka]

As of right now the plan is to take a drive down to Chicago in the next couple of weekends and take the day to go into all jewelry stores in the Wabash Ave area (as recommended earlier) for quotes and just take the best one offered.

Seems that there's too much hassle and risk with eBay. Maybe taking it to a big city may inflate the number a bit more than trying to sell it to people or small jewelers in Milwaukee?

In any event, right now it's just sitting in a lock box collecting dust for the past 3 years and she has absolutely no ties or desire to keep this thing or hand it down (her ex is not a good person), so anything she can get for it is just gravy.

It's probably a good idea.

The person that appraised the higher end stuff suggested this to us if we decide to part with it. Bigger market, clientele with more disposable income, more likely to be able to flip it could mean a better fetch.

As of now, one will be held onto on the off chance that my son eventually does something stupid and asks some harlot to marry him. The others, TBD.

 

[fantasycurse42]

Men who wear diamond studs in their ear

 

[offdee]

Maybe taking it to a big city may inflate the number a bit more than trying to sell it to people or small jewelers in Milwaukee?

OTOH, big city means lots of people getting divorced, lots of turnover, lots of people getting rid of grandma's old stuff, etc. etc.etc. They don't need to buy from you because some other, more desperate seller will walk thru the door an hour later.

Good point. We'll take it to a couple places in Milwaukee to get a gauge and then see how Chicago compares. If we see the quotes in Milwaukee were better we'll just come back home and be finalize it and be done with it. It's a good excuse for a little road trip anyways.

 

[EYLive]

Diamonds aren't rare so you'll never get anywhere close to what it retails for. If somebody offered 3k, take it and run.

 

[Limp Ditka]

Let's add Another branch to the racket.

I ran what I have by the insurance company. Another $750 a year to have it covered. 

 

[offdee]

UPDATE:

Our game plan was to take the ring to 3 local jewelers that buy and get quotes.  Use the best number as baseline for when we go to Chicago next weekend...if Chicago quotes are higher than take the best one and sell there.  If less, than bring it back home and sell to highest local quote.

I'll just type out her texts to me basically verbatim...

So I visited 2 jewelers today. My friend Deneen recommended someone who offered $2,800. I just left my original guy we bought the wedding band from and he offered $3,500.  He also said he'd put it on consignment for me in the store for $4,500-$5,000 to see if it would sell and give me whatever the final sale amount is. He said it's a lot of look for that kind of $ that someone couldn't touch at that price if bought new.  No obligations, I can keep it there as long/short of time I want to and if it doesn't sell he'll give me the $3,500 after all is said and done. He was really nice about it.  Said it's a really pretty ring and he would like to see me get as much as possible for it.  But he can only offer me so much upfront because he has to be able to make some money from it.  He also said if I wanted to try Craigslist he would be willing to have the transaction happen in his store so no shady business went down.

---

I more or less replied with....try one more local place to get that 3rd comparison number and then we have our number to shoot for in Chicago.  If someone there offers in the $4K's than might be wise to just pull the trigger and be done with it.  Also said the time and hassle with the Craiglist idea probably isn't worth it IMO.

 

[Christo]

Very nice ring that was paid $12K for....now sitting in a lock box collecting dust (with all gem certification papers) and no future use for it. And she doesnt want to reimagine the stones into another piece of jewelry (necklace, different ring setting). She just wants to sell it and move on.

I believe she went into one jeweler a couple years ago to inquire.....they offered $3K, she was discouraged and back into the lock box. I fully realize getting anything close to $12K by selling it is not gonna happen, but what is the best way to go about it to get the best return?

Jewelry is a scam. Diamonds the biggest of them all.

 

[Limp Ditka]

Jewelry is a scam. Diamonds the biggest of them all.

now someone tells us

 

[Tick]

Fly to Antwerp, sell it there.  You'll make enough extra there to cover the cost, and you get a trip to Antwerp.

 

[Tick]

Antwerp example: http://www.diamondworld.be/cash-for-diamonds.htm

 

[offdee]

Jewelry is a scam. Diamonds the biggest of them all.

Thanks for the wisdom.  I'm guessing it's even harder to stomach knowing you'll have to buy all those extra diamonds to cover the circumference of a ring band that your girl would need. 

 

[Christo]

Thanks for the wisdom.  I'm guessing it's even harder to stomach knowing you'll have to buy all those extra diamonds to cover the circumference of a ring band that your girl would need. 

Don't worry about me. I'm not a slave to fashion like you.

 

[offdee]

UPDATE:

Our game plan was to take the ring to 3 local jewelers that buy and get quotes.  Use the best number as baseline for when we go to Chicago next weekend...if Chicago quotes are higher than take the best one and sell there.  If less, than bring it back home and sell to highest local quote.

I'll just type out her texts to me basically verbatim...

So I visited 2 jewelers today. My friend Deneen recommended someone who offered $2,800. I just left my original guy we bought the wedding band from and he offered $3,500.  He also said he'd put it on consignment for me in the store for $4,500-$5,000 to see if it would sell and give me whatever the final sale amount is. He said it's a lot of look for that kind of $ that someone couldn't touch at that price if bought new.  No obligations, I can keep it there as long/short of time I want to and if it doesn't sell he'll give me the $3,500 after all is said and done. He was really nice about it.  Said it's a really pretty ring and he would like to see me get as much as possible for it.  But he can only offer me so much upfront because he has to be able to make some money from it.  He also said if I wanted to try Craigslist he would be willing to have the transaction happen in his store so no shady business went down.

---

I more or less replied with....try one more local place to get that 3rd comparison number and then we have our number to shoot for in Chicago.  If someone there offers in the $4K's than might be wise to just pull the trigger and be done with it.  Also said the time and hassle with the Craiglist idea probably isn't worth it IMO.

The 3rd local quote came in at $3,200.

 

[offdee]

UPDATE: went to Chicago for the day and shopped it around to about 5 stores. The consensus was $2,500-$3,000, so decided to just take it back to Miwaukee and sell it at original place they bought it. Some Chicago advice was that would be the best bet and most likely the best price because that place knows it's legit and good quality because they are the ones who originally sellers and want to give a decent deal to retain future business.  Just like many of you said here, they said if we can get $3K+ for it to take it and run. I ended up buying a nice watch while in Chicago so there's that. 

She officially sold it yesterday and has a $3,500 check in hand.

 

[Jobber]

I would never sell it on eBay. There are way too many scams involving chargebacks.

This, defintely. Ebay is very skewed in favor of buyers, you risk getting scammed. In fact, I no longer sell on Ebay at all due to this.

 

[[icon]]

She officially sold it yesterday and has a $3,500 check in hand.

And it's back in the cabinet for $7500 for sucker #2

 

 

[cstu]

New Vegas ad: "Visit Las Vegas: It's a Better Investment Than Diamonds!"

 

[sbonomo]

She just sent me a pic of the appraisal documentation for insurance (if this info means anything for the scenario). And i do know the insurance appraised value is usually inflated.

Appraised value: $18,500

One platinum ladies wedding set with custom made wedding band. The engagement ring contains one princess cut diamond weighing approx 1.17 carats total weight. VS2 clarity, H-1 in color. Also containing 51 round brilliant diamonds head set approx 1.75 carats total weight, VS2-SI2 in clarity, and G-H in color. The wedding band containing 52 round brilliant diamonds approx 2.10 carats, SH-SI2 clarity and G-H color. 6.6D.W.T

1.17 - take the 3k and run.....

 

[offdee]

1.17 - take the 3k and run.....

$3.5K officially in the bank GB 

 

[McJose]

 I ended up buying a nice watch while in Chicago so there's that. 

Why do watches still exist?  (aside from being man-bracelets)

 

[sbonomo]

UPDATE: went to Chicago for the day and shopped it around to about 5 stores. The consensus was $2,500-$3,000, so decided to just take it back to Miwaukee and sell it at original place they bought it. Some Chicago advice was that would be the best bet and most likely the best price because that place knows it's legit and good quality because they are the ones who originally sellers and want to give a decent deal to retain future business.  Just like many of you said here, they said if we can get $3K+ for it to take it and run. I ended up buying a nice watch while in Chicago so there's that. 

She officially sold it yesterday and has a $3,500 check in hand.





 

This is about the best you can do.  a 1 carat run of the mill diamond is not worth much, the small diamonds in the setting even less.  How in the world did that poor sucker pay 12k for that ring.  When i bought my wifes ring i purchased the stone (3.52 carats, VS-2 D color) for $18K and had the ring custom made for $2k (1.75 carats of vs1 princess diamonds).  Paid 100 dollar bills in the diamond district of LA for both.  That same ring would have cost close to $75K at tiffanies and who knows how much as Jarrods.  there is a sucker born every minute apparently.  

 

[offdee]

Why do watches still exist?  (aside from being man-bracelets)

Because I like wearing nice man bracelets  (the FFA is in shock and awe!)

 

[bucksoh]

Don't sell it on ebay unless you put your asking price high.  I got my wife's ring off ebay for $1000 and had it appraised and it was appraised for $15000. like others have said it a house of cards.

 

[dfsguy]

I think the ex was paying for the insurance on it still (in hopes of reconciling someday), but she told him many times it was a waste of his money because its just sitting in a safe and never going to be worn again. Im guessing the insurance isnt up to date. In any event scamming isnt in her nature and she wouldnt be comfortable with it....she wants to just do this right and move on.

wouldnt the right thing mean giving the ring back to the guy that paid for it so he can sell it or give it to someone else?

 

[offdee]

wouldnt the right thing mean giving the ring back to the guy that paid for it so he can sell it or give it to someone else?

Ummm no. The guy is a complete deadbeat loser...doesn't pay a lick of child support and legally owes her over $50k.  F him. 

 

[dfsguy]

Ummm no. The guy is a complete deadbeat loser...doesn't pay a lick of child support and legally owes her over $50k.  F him. 

Sounds like the guy was screwed by the court system and by his disloyal ex wife. She made a commitment to be with him the rest of her life and she broke it. I hope you weren't the guy she was cheating with while she was married, or you'd be the loser here for sure.

 

[James Bond]

3k? She go see Rick Harrison?

Aren't diamonds one of the things that retain their value or even go up after time?

I would try to find a place that takes in jewelry and go to a couple of them even if you have to drive a few hours.

Well you know he has to clean it, frames are really expensive, and it would sit in the shop for a long time before someone might buy it.

 

[James Daulton]

You're dating this chick?

 

[Grace Under Pressure]

Well you know he has to clean it, frames are really expensive, and it would sit in the shop for a long time before someone might buy it.

A few years ago, maybe we'd be close to that number, but now, no way. 

 

[TheAristocrat]

It's cool, guys.  She only dated a ##### that one time.