Selling a diamond ring -WPdiamonds.co.uk

Ectophile

You're very unlikely to get anything like what you paid when you try to sell a diamond. They aren't really that rare, and the smaller ones are hardly worth anything.

However, the platinum is valuable - it's more expensive than gold. So don't get ripped off on the rings.

harrys_dad

paddyrg wrote: »

If we're talking proper money here, get yourself to the Jewellwery Quarter in Birmingham and go to a few of the places that buy. Competition is high, expertise is high, and you can't be held to ransom/lowballed - you'll get a fairer price.

The firm quoted by the OP is in the Jewellery Quarter! I agree with your advice though and suggest OP makes a visit and gets offers from people who have actually seen the ring.

OP. do you have a certification for the diamond? You will need to take that with you. Having said that, second hand jewellery rarely holds its price I think.

meer53

Sounds like you won't get a firm offer until you send your ring to them ? Personally, i wouldn't do it.

Valuation and Offer

Once we received your items, our specially trained experts will test and evaluate them to determine their value. WPDiamonds may need to remove a diamond to adequately value it. We will ALWAYS contact you and get your consent to the removal of a diamond before doing so.

BY SENDING US YOUR JEWELRY, YOU HEREBY IRREVOCABLY AND UNCONDITIONALLY ACCEPT THAT THE PROCESS OF DETERMINING A VALUE OF THE METAL MAY INVOLVE PLACING CERTAIN ACIDS ON THE GOLD, SILVER, PLATINUM, OR OTHER ITEMS WHICH CAN LEAVE PERMANENT STAINING AND/OR SCRATCHES. YOU HEREBY ACKNOWLEDGE AND AGREE THAT WPDIAMONDS.COM IS NOT LIABLE FOR ANY DAMAGES CAUSED BY THIS PROCESS OR ANY RESULTING DECREASE IN THE VALUE OF THE ITEMS.

If we make you an offer, it will be valid until 5:00 pm the following business day. As the prices of diamond, gold, and other precious metals change regularly, our offers cannot generally be extended beyond then. If you accept our offer, the goods will be immediately shipped for diamond removal and melting down, so your acceptance is legally binding on both of us and is irrevocable. Please note that when accepting an offer, any no value items will not be automatically returned to you, unless you specifically request their return at the time of the offer.

rajsc

Thanks for all of your replies!

The bands are plain platinum with no engravings. The diamond is GIA certified.
The shop I purchased them from offered me about £1k and said that the platinum would be scrap!!! That was in Hatton Garden in London.

WPdiamonds offered about the same but said they would pay a few hundred pounds for platinum depending on weight.

I wonder if its worth making a trip to Birmingham then....certainly Hatton garden haven't offered much!

You don't realise when you first buy these pieces that you pay about 3-4times what they are actually worth! Huge mark-up!!

I wondered about eBay....if I was buying a diamond ring would I buy it from eBay....not sure....

hollydays

Do you mean you wouldn't buy it from ebay

InsideInsurance

rajsc wrote: »

You don't realise when you first buy these pieces that you pay about 3-4times what they are actually worth! Huge mark-up!!

The engagement ring should be about £1,900 new, the wedding ring will depend on its width/ style but a 3mm domed should be around £500 and you'd hope to get some discount if you buy them all from the same place.

With a bit of negotiation you are getting half the value back which isnt really that bad as clearly the jeweler will pay you less than they are worth retail as they have to have a profit margin and secondhand anything is going to be worth less than new.

peachyprice

rajsc wrote: »

I wonder if its worth making a trip to Birmingham then....certainly Hatton garden haven't offered much!

How many shops did you try in Hatton Garden?

TBH, the Jewellery Quarter in Birmingham is just the further north equivalent of Hatton Garden, so probably not worth the journey, no.