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So I bought such a ring for my ex-fiancee, and have been halfheartedly trying to sell it for... a year? two? I understand I got ripped off at the point of sal

So I bought such a ring for my ex-fiancee, and have been halfheartedly trying to sell it for... a year? two? I understand I got ripped off at the point of sale (that's just how it works), but as per this article, I could very easily get ripped off selling it back. Unfortunately I really have no idea how to get rid of it and get a reasonable value for it - or what that value is.

avn2109 12y ago
Sorry to be the bearer of bad news, but the market value is ~0 when compared to what you paid for it.
wicker 12y ago
I've heard (but don't have first-hand experience so I can't verify) that selling it on commission via a local store might be worth looking into.
mritun 12y ago
Keep it. You're likely to sell it for quite a loss. If you think you're likely to find a partner again, you'll be in for buying one again. Diamonds are /forever/ (:P), keep and reuse it.
- j_lev 12y ago
  I'd argue that the lesson here is to choose the girl who doesn't need the engagement ring.
- pimlottc 12y ago
  Don't you think it might be a bit awkward when your new partner learns where it came from?
  - GotAnyMegadeth 12y ago
    I was once present for a very awkward conversation where a husband told us that his wife's ring was second hand in front of her and she was shocked. He thought she knew him well enough to know that he'd never buy one first hand...
SteveGerencser 12y ago
You will get the most money selling it yourself through eBay or exboyfriendjewelry or local buyer etc. Your second best will be to put the ring on consignment at a good local mom and pop jewelry store. After that the value drops dramatically. The markup on diamonds has dropped dramatically since the internet started making them a commodity. What used to be a 4x to 5x markup is now 2x. If you think 2x is high, look at Starbucks. The design, the art, the emotion has zero value. If you decide to sell look at price listings at a site like Pricescope to see what new, unset, diamonds are selling for at bottom retail. If you can get 40% of that you are doing great because the seller is already buying at 50% to 60% of that price so anything more than 40% means it would be easier to just buy from his normal supplier rather than deal with an off the street buy. Diamonds and jewelry are NOT investments. They are luxury items. Very very few things maintain their value once you walk out of the store with them. Cars, boats, airplanes and so on. Luxury items. To think you can sell it back for anywhere near what you paid is unrealistic to begin with. And one last thing. If anyone that tells you a diamond is an investment, run.
- toyg 12y ago
  > Very very few things maintain their value once you walk out of the store with them. Cars ... are not one of them. Unless you're buying a Lamborghini, the minute you drive it out of the saloon you've already lost 30% to 50% of its price.
  - brazzy 12y ago
    That's a bizarre exaggeration. It's more like 10-20%
tomkinstinch 12y ago
There's a great article on how the current system and perceptions surrounding diamonds came to be, from The Atlantic in 1982[1]. It is appropriately titled, "Have You Ever Tried to Sell a Diamond?" 1. http://www.theatlantic.com/magazine/archive/1982/02/have-you-ever-tried-to-sell-a-diamond/304575/?single_page=true http://www.theatlantic.com/magazine/archive/1982/02/have-you...
kryptiskt 12y ago
You are probably best off saving it for the next time a relationship gets serious.

avn2109 12y ago

Sorry to be the bearer of bad news, but the market value is ~0 when compared to what you paid for it.

wicker 12y ago

I've heard (but don't have first-hand experience so I can't verify) that selling it on commission via a local store might be worth looking into.

mritun 12y ago

Keep it. You're likely to sell it for quite a loss. If you think you're likely to find a partner again, you'll be in for buying one again. Diamonds are /forever/ (:P), keep and reuse it.

j_lev 12y ago
I'd argue that the lesson here is to choose the girl who doesn't need the engagement ring.
pimlottc 12y ago
Don't you think it might be a bit awkward when your new partner learns where it came from?
- GotAnyMegadeth 12y ago
  I was once present for a very awkward conversation where a husband told us that his wife's ring was second hand in front of her and she was shocked. He thought she knew him well enough to know that he'd never buy one first hand...

SteveGerencser 12y ago

You will get the most money selling it yourself through eBay or exboyfriendjewelry or local buyer etc. Your second best will be to put the ring on consignment at a good local mom and pop jewelry store. After that the value drops dramatically. The markup on diamonds has dropped dramatically since the internet started making them a commodity. What used to be a 4x to 5x markup is now 2x. If you think 2x is high, look at Starbucks. The design, the art, the emotion has zero value. If you decide to sell look at price listings at a site like Pricescope to see what new, unset, diamonds are selling for at bottom retail. If you can get 40% of that you are doing great because the seller is already buying at 50% to 60% of that price so anything more than 40% means it would be easier to just buy from his normal supplier rather than deal with an off the street buy. Diamonds and jewelry are NOT investments. They are luxury items. Very very few things maintain their value once you walk out of the store with them. Cars, boats, airplanes and so on. Luxury items. To think you can sell it back for anywhere near what you paid is unrealistic to begin with. And one last thing. If anyone that tells you a diamond is an investment, run.

toyg 12y ago
> Very very few things maintain their value once you walk out of the store with them. Cars ... are not one of them. Unless you're buying a Lamborghini, the minute you drive it out of the saloon you've already lost 30% to 50% of its price.
- brazzy 12y ago
  That's a bizarre exaggeration. It's more like 10-20%

tomkinstinch 12y ago

There's a great article on how the current system and perceptions surrounding diamonds came to be, from The Atlantic in 1982[1]. It is appropriately titled, "Have You Ever Tried to Sell a Diamond?" 1. http://www.theatlantic.com/magazine/archive/1982/02/have-you-ever-tried-to-sell-a-diamond/304575/?single_page=true http://www.theatlantic.com/magazine/archive/1982/02/have-you...

kryptiskt 12y ago

You are probably best off saving it for the next time a relationship gets serious.