Selling an engagement ring

Gloomendoom

pleasedelete wrote: »

I took a ring to sell. Recent insurance vert of £10k- had cost about £5k a number of years before. Was offered £600 and specialist jewellery auction reckoned it would get £800. Apparently giant rubies are out of fashion and the only value was in the diamonds and platinum. Wasn't mine luckily.

Therein lies the problem. Insurance valuations just reflect the replacement cost, not what the piece is actually worth if you want to sell it.

I think the OP's friend may be in for an unpleasant surprise.

74jax

Do I read it as the ring is only a week old?

Can he not return it to the shop, most engagement rings have this options when bought?

dwtmahdc

thanks for the replies everyone.
i think i'll set his expectations.

things aren't going well for the poor guy right now

KRB2725

Beaverbrooks rings are generally very expensive for what they are, the stones aren't usually the best quality.

Tiffany & Co rings sell for between a third and half of retail price as a general rule (have bought a few second had over the years) and their diamonds are high quality.

In all truth I think your friend would be lucky to achieve 4 figures. Sorry.

peachyprice

74jax wrote: »

Do I read it as the ring is only a week old?

Can he not return it to the shop, most engagement rings have this options when bought?

No, he bought it late last year (post#1)

74jax

peachyprice wrote: »

No, he bought it late last year (post#1)

Sorry, blonde moment.

fierystormcloud

Ebay. ......

amistupid

Think of the money they've saved on a wedding.

LilElvis

amistupid wrote: »

Think of the money they've saved on a wedding.

It would have been zip if the bride's parents were going to pick up the tab

Slinky

The reality is since it was a gift, the lady was perfectly legally entitled to keep it, so anything he gets is a bonus.