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slightly OT question

secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
in Precious Metals
a friend of my wife is getting divorced and wants to sell her diamond and platinum engagement ring. a nice ring, around 12k retail when new. what's the best way to go? I don't think she's interested in listing it on Ebay. I was thinking maybe sending it off somewhere? A local jeweler or dealer is probably not the way to get the best price since they will probably just send it somewhere too.
"Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)

Comments

  • PokermandudePokermandude Posts: 2,713 ✭✭✭
    If she isn't in a hurry to get cash for it, try finding a place that does consignment sales. Otherwise, a 12k appraised/insurance value will likely equate to a cash offer of around 1.5-3k. From my understanding, the resale value is largely dependant on the size/quality of the main stone. If it's a bunch of smaller/poorer quality rocks, then maybe the offer will be even lower than $1500.
    http://stores.ebay.ca/Mattscoin - Canadian coins, World Coins, Silver, Gold, Coin lots, Modern Mint Products & Collections
  • derrybderryb Posts: 36,837 ✭✭✭✭✭
    The more offers she gets from area jewelers, the better idea she will have of its resell value. I would even include prices from pawn shops just to get an idea. Get an estimated value first before mentioning selling it (don't pay for an appraisal) and then come back with a "how much will you give me for it?"

    Natural forces of supply and demand are the best regulators on earth.

  • rickoricko Posts: 98,724 ✭✭✭✭✭
    The sad part of jewelry ownership.... very poor resale market....Cheers, RickO
  • PerryHallPerryHall Posts: 46,152 ✭✭✭✭✭


    << <i>The sad part of jewelry ownership.... very poor resale market....Cheers, RickO >>



    Yup. Your local jeweler will give you cents on the dollar and f you sell it on Craig's List, you may get a better price but you risk getting robbed.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • SmallTownCoinsSmallTownCoins Posts: 688 ✭✭
    The Jewelry store next to me pays 1/6 of full retail...
    That allows them to sell stuff for 50% to 75% off...
    Completely different game than the Coin Market...
    Support your local Coin Shop
    LM-ANA3242-CSNS308-MSNS226-ICTA
  • DrBusterDrBuster Posts: 5,393 ✭✭✭✭✭


    << <i>The Jewelry store next to me pays 1/6 of full retail...
    That allows them to sell stuff for 50% to 75% off...
    Completely different game than the Coin Market... >>



    What's sad is that 50-75% off is what it should be in the first place for most non-designer jewelry.
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