Selling Diamond Jewellery

LotsToDo

Hi. I have two rings that I am seriously considering selling. Does anybody have any ideas on the best and safest way of doing this? I live in Scotland and really don't want to post them for obvious reasons. I have spoken to one of the high street 'buy gold' shops and didn't really have much joy. I am also unsure of what I should expect to get. I have checked ebay to try and get an idea, but haven't found anything similar. I have valuations for both from the jewellers they were purchased from (I know I won't get anything near that, but just need some advice).

I have some big repairs looming on the house and don't want to lose track of paying off my final debt.

Hoping you all can help.

[Deleted User]

any respectable jeweller will give you the going rate; unless they are exceptional quality or rare, then you are unlikely to get what you paid for them, but high street jeweller is your best bet for a quick sale.

Lipic

Hi. Why didn't you have any luck selling to a jeweller? I'd ask a jeweller a bit about them (at least so you know how to describe them if you sell) and an estimate of what they're worth. I doubt you'll get full value but you might get around 50% or so of what their insurance value is.

Are the stones large? If so it might be worth paying for an evaluation.

LotsToDo

I haven't actually gone into a jewellers as yet, I just made a couple of calls. One is valued at £1,600 and the other £2,500.

Sounds stupid, but am a bit embarrassed

Gemqueen1960

Dear Lots,

Please dont be embarrassed. Local jewellers are the best option, they usually are very accomodating. I would do as Lipic says and get some info on them. I did this at my local jewellers, - went in, and asked about the worth of 2 rings for insurance purposes and asked about the stones. Once I heard the quote I asked him if he would be willing to buy them off me. We did haggle a bit, but I got alot more than I thought I would!

Loads of people are doing this these days, you aren't the only one. I'm now off loading any jewellery that i dont want/need - no point in them sitting there gathering dust.

I do hope you pluck up the courage to go to a jewellers - I don't think you will regret it if you do.

LotsToDo

Dear Gem

Did you go to a well known jeweller or a smaller one?

Gemqueen1960

Good evening Lots,

I went to a local jeweller - wasnt a well known one. I forgot to add I also had a look in their window to find any similar rings to mine, just so i could get a "ball-park" figure of what i could be offered.

U can do it Lots!! :T Good luck! and let us know how u get on.

LotsToDo

Hi. Just wanted to let you know that I took my rings in and I was offered a pittance. Couldn't believe it. So, it looks as though I will be hanging on to them for now.

Albeit, I would love to cash in, if I got a good offer.

Anyone want to buy some rings? lol

sourcrates

Best to take to small local jewelers, dont bother with the "cash for gold" type, you will only get peanuts.
You will always get less than face value when you are selling second hand, try a few and take the best offer, thing is, dont expect anywere near what they have been valued at.

I sold a 1/4 carrot diamond/gold ring last year, which cost me £400.

Best offer on it was £56, worst was £16.

Buyers market i`m afraid.

LotsToDo

That's just awful! I don't think I could bring myself to let them go for such a small amount.

sourcrates

LotsToDo wrote: »

That's just awful! I don't think I could bring myself to let them go for such a small amount.

It wasnt so bad, it was ex`s engagement ring, it was either £56 or chuck it in the harbour, i took the cash lol !!!!!