Selling jewellery (not cashing in on weight of gold)...

**Juice**

...I have a really nice opal, diamond and white gold ring that I bought about 7 years ago but hardly wear any more. It was about £400 at the time. I want to sell it really as I can't think of the last time I wore it, and even less when I wore it regularly.

I've taken it to a few jewellery shops who've all just wanted to melt it down for gold for £50 and as there isn't that much gold on it (quite a thin) band, and they'd "just disregard the stones in it", it's not really an avenue that's working for me. Neither would postal gold or anything like that.

Has anyone got any suggestions of where/how I can sell it? I've had a look at Ebay but I'm not totally au fait with hallmarkings and even what size it is so not sure how successful that would be.

InsideInsurance

Are the jewellery shops you went to the sort that have second hand items in their windows etc for sale?

Most second hand jewellery really isnt worth much more than its scrap value unfortunately unless it is a genuine branded item (tiffany, dior etc) You could put it on eBay with a reserve or starting price of £50 and a slightly inflated P&P and so if it sells you know you will be no worse off and you may be lucky and find a couple of people that fall in love with it and start a bidding war.

A friend who used to work in the trade used to suggest second hand value is about 1/4 of the retail price but how accurate that is I dont know. Obviously with selling to trade is that they need to leave headroom for their profits.

stinkysrevenge

Actually, second hand jewellery (depending what it is obviously) can make profit. I have a sapphire ring (not massive by any stretch) that I bought a few years ago at a US jewellery store for $200. I got it appraised for insurance purposes, and it's worth £935 to replace.

Second hand jewellery does not have to be branded to be worth something, that's rubbish.

You should take it to a reputable jeweller and get it appraised to find its true value.

InsideInsurance

How have you made a profit?

You bought it for $200 and your insurance valuation (ie new for old) is said it would cost £935 to buy the same ring brand new today.

Unless you are advocating committing fraud by insuring and then "losing" the item to get the insured value you havent proposed how to liquidate the asset to its new value.

The US market could well be different, so there is some potential for profit with international trading, but ignoring that bit you seem to have proven that second hand jewellery isnt work much given you paid £130 for a ring originally worth £935