What to do with mum's engagement ring

HurdyGurdy

I am a bit stuck as to what to do with it.

It is an old ring, and the band is very worn and thin. I have an insurance valuation from 2007 at £1,500 and an updated one from 2011 at £2,500.

The sentimental value aside, I don't like the ring and it's not something I would ever wear/use myself. But I want to do *something* with it.

I was going to sell it and share the money between my three grown up children as this seemed the fairest thing to do with the only valuable item I have.

However, nowhere will buy it because it is too old and worn. I was offered £24 for the value of the gold.

I know that if it did sell, it wouldn't go for anywhere near the insurance valuation, so I am not expecting to get thousands for it.

So what would you suggest I do with it? I was wondering if it would be prohibitively expensive to have it "dismantled" and have something else made from the stones (it is a single diamond surrounded by a cluster of smaller stones). Or is there anything else creative that someone has done with an old piece of jewellery that they could share?

It just seems a shame to have it sitting in a drawer gathering dust, and if it's not sellable, it's not really something that I would really want to pass on to the "kids" (adults). I am not planning on popping my clogs any time soon, but have been pondering how I would decide which of them I would leave it to, if any of them. I would rather try and treat them all equally when I do shuffle off, so wouldn't *really* want to leave it to any one of them over the other two.

Any ideas/suggestions?

pukkamum

I would create a memory box for generations to come but it in a nice ring box, write out some things about her life, birth, death, marriage dates etc, couple of photos in a nice box for generations later to see.
Doesn't have to be big, if it's too big no one will want to store it, maybe a jewellery case.
That way you can enjoy the sentiment and its not just being left.
Maybe even a small family tree.

janiebquick

I inherited my mum's diamond engagement ring which was in a really old-fashioned platinum setting. I had the diamond reset in a modern style and sold the platinum for scrap. You will need to find an independent jeweller to discuss your needs, but it certainly won't be prohibitively expensive.

pukkamum

Sorry that was a bit rambly I love history and hate the thought of family stories being lost.
I try and think of ways to be remembered and or known about by great great grandchildren and others to come.

JodyBPM

I can't see how anything can have both an insurance valuation of £2.5K plus a scrap value of £24? You really need to ascertain before you go any further whether you have something worth a few quid or a few thousand.

Assuming its financial value is little, then its the sentimental value that is most important, so get the stones set into an item that you *like*, and will wear it often. Your mum left you something to enjoy, not something to worry about...

Artytarty

Maybe having it made into a small pendant on a chain would not be too expensive.

monty-doggy

JodyBPM wrote: »

I can't see how anything can have both an insurance valuation of £2.5K plus a scrap value of £24? You really need to ascertain before you go any further whether you have something worth a few quid or a few thousand.

Assuming its financial value is little, then its the sentimental value that is most important, so get the stones set into an item that you *like*, and will wear it often. Your mum left you something to enjoy, not something to worry about...

The problem with most cash for gold places is they disregard stones and so give you nil value for diamond.

The band could be hollow, 9ct and worn. £24 would be right for a thin band.
I'd establish how good quality the stones were and perhaps have a new piece of jewellery made for myself or split for my kids.

Spendless

I had several pieces of gold jewelry (broken chains, odd earrings etc) that I no longer wanted melted down and made into a bangle for me. No idea of cost because it was paid for by my parents as a Xmas pressie. If you have similar you could ask for the stones to be inset.

Ask an Independent Jewelers for ideas.

QQuaver

I had several mum's jewellery reset, including a pearl platinum ring. It was too big, so was made smaller and repositioned and the leftover platinum was sold for scrap.

Also, I had part of my mum's pearl necklace made into an earring. I can't remember how much it cost, but it wasn't much.

I think getting it refashioned so you could wear would be lovely:)

74jax

I am not sentimental in anyway, so appreciate you may not like my reply but I don't mean to cause offense.

If I didn't like something I wouldn't keep it, I wouldn't keep something in a drawer I never wore.

I would probably a) sell it for £25 and buy a takeaway for the family or (most probably) b) donate to DD school with the valuation cert. which often does auctions to raise money for charity.

LEJC

there are a couple of options on the selling front...

You could go via a gold buying company,which it sounds like you have and been offered a small amount equating to the crap gold value...this is probably a good option only if the amount of gold outweighs the othher components in the ring,which potentially it doesnt...

You prehaps should take it to either a jewellery seller or a jewellery manufacturer as I think thats where you would get your best return.

There are quite a few dealers in second hand jewellery around the country who whilst probably wouldnt offer you anywhere near the insurance value of the ring will probably be able to increase the offer from £24
Another option would be a local jeweller who manufactures or repairs jewellery...they are always on the look out for old diamonds and again will almost certainly offer you more than you have been offered.
They would also be able to suggest alternatives for remodelling or resetting the ring and the fact that you have the diamonds probably it wouldnt cost too much to give the stones a new lease of life.

Initial thoughts I had were maybe a pendant with the larger stone and earings for the smaller....or indeed maybe just a simple solitaire ring which is probably much more marketable than what you have in its current format...if you have any other family gold then you could use that to create a blended piece of family history which might be nice to carry forward....its quite possible that someone in the family also has a ring that they no longer really use and would be happy to donate the gold content to help create something else...pendants are particularly good as they dont need huge amounts of gold and even 3 small stones grouped together can look very nice...other options maybe charms for bracelets...or even 2 smaller rings.

Other than those options you could try ebay...again even it its worn condition its likely that the diamond value would be greater to someone than what you have been offered.

The valuation certificate that you have is for replacement costs so the ring is unlikely as you say to be sold for that worth,...but in the description does it perhaps give a size or carat weight for the centre diamond...if its over .25 carats then in itself it has a value and really would make something quite nice if reused.

Good luck with your sale....