Selling a diamond/sapphire ring

MissyPP

Hi there

I'm new to the forums here so apologies if I'm posting this in the wrong place. I have looked through previous threads but couldn't find a thread that could help me.

I have a diamond/sapphire eternity ring that I was given by an old boyfriend about twelve years ago. I'd like to sell it which I thought would be fairly easy but have learned from reading the gold selling discussions on here that most jewellers or gold buying companies will buy a piece of jewellery for it's gold value only and will completely disregard any stones. I popped into a high street jeweller last week who confirmed this for me, and after having a quick look at the ring said that he'd only be able to offer me about £25 for the gold alone.

I was also disheartened to learn that most high street jewellers don't do in-store valuations any more, they have to send them off which costs £55 for the first item of jewellery (and £35 per item thereafter) which I'm really reluctant to do as I don't suppose the value of the ring is that much! I'm guessing about £150!

So I'm in a complete pickle about where I can get it valued (and not be ripped off for the privilege) and secondly where to sell it. I'll be going into London next week and figured that whilst I'm there, I should pop into Hatton Garden but I'm confused by the vast number of jewellers there!

Has anyone done this before and is there a specific jeweller at Hatton Garden that someone can recommend for buying old jewellery at a fair price?

The other thing I should mention is that I'm getting married at the end of the year so am on the look out for a wedding ring - do you think I might be even better off getting the jeweller to give me a discount on a wedding ring in exchange for my old eternity ring instead of just a straight sale of the eternity ring?

Many thanks for your help!

MissyPP

McKneff

Might I suggest you go to a little indpendant jewelllers and ask for their opinion. They will be only too glad to help.

You often find that most jewellers nowadays have a 'pre-owned' section of jewellry for sale which are too nice to melt down.

Ask about an allowance/part exchange value against a wedding ring when you and your oh are ready to buy.

Let us know how you get on.

Oog

I had a 'previous' ring made into something else I could wear instead. You could do that?

MissyPP

Hell, no! It was from an ex-boyfriend that needs to be forgotten about!! Bad karma to hang onto it I reckon!!

But thanks for the suggestion :-)

MissyPP x

Darkphaery

Hi Missy

I recently had my wedding rings cleaned at H Samuels for £25 each and they have to value then to insure them. I know it's still £25 but a little cheaper than the £55 valuation you mentioned and at least then you'll have a good idea of a starting price for the ring.

Good luck!

QuackQuackOops

You would get more for it by selling private.

LEJC

Ive many years experience with jewellery both buying new and second hand...and to be honest for the buyer then the deals are on the second hand...so that really means its possibly stacked in their favour rather than that of the seller...

It probably isnt worth getting the ring valued...most places will want a standard amount and if the ring achieves a higher value then a percentage too...but if you estimate that the ring is about £150 then in honesty the value for sale will be less...

Do you happen to have a receipt for it...I know its a long shot but for insurance purposes some people do keep them...having a receipt and even the original box will clarify the ring for a potential buyer and therefore possibly obtain a slightly higher price or more interest...

I agree that the option of a gold merchant is not that good as they dont take into account the stones...but do you have an antiques market or centre near you...there are many dotted around the country...or even an independant jeweller who sells other second hand jewellery who either will offer you a set amount for the ring or allow you to use their window space to sell the ring for a comission...

Other than that you are probably looking at sites like ebay...

Realistically you should be looking to achieve about half the rings value...so if you get circa £75 then you wont have done bad...

Try and pick small jewellers or independant jewellers to sell to if possible....places like the high street chains are probably only interested in the gold scrap value whereas there may be more appeal if you sell to an independant jeweller who also has a workshop attached as they will beable to potentially get use of the gold and stones in jewellery repairs if the ring is not of a commercial design...

MissyPP

Thanks very much for all of your help. I'm going to try a few independent jewellers in Hatton Garden (several of the jewellers listed on the Hatton Garden website mention that they buy second hand) and get a few quotes, see what they say. Will keep you posted.

stinkysrevenge

I had my jewellery recently appraised at F Hinds, they have a gy who comes in once every 3 months at the Bristol store. Their fee is based on how much your jewellery is worth.

psychopathbabble

Pop into an independent jewellers and say you need a valuation for insurance purposes.... they will give you a more accurate figure then. If you ask them what they would buy it for, they will offer you pennies.

pimento

Have a look on ebay, there's usually second hand jewellery for sale there. might give you a few tips.