Selling a diamond ring - best route to go?

thermal2844

Apologies if this is the wrong place to post.

Would a local jeweller be best? I had an evaluation from an online company (WP Diamonds) who came in at about 20% of the original retail value. I understand I won't get full retail value when reselling, but what % is reasonable to expect? 20% seems very low. The ring was originally purchased for about £3200, and the WPDiamonds slick salesman came in with a "highest offer you'll find" £600-700.

Thanks in advance.

AndyMc.....

You may well just get scrap value for the ring.

thermal2844

It just seems so wasteful. It's a beautiful platinum ring with a large high quality centre diamond and 24 smaller but also high quality diamonds set into the band, complete with the original diamond certificate.

kazwookie

Try selling it to a local jeweller
Try selling in on line
or you loca lFB page.

Doozergirl

It really depends where you got the ring from in the first place. Something bought in a Jewellery quarter is going to hold more of it's % value than the same sort of ring bought from Goldsmiths at a higher price.

I learned last year that the idea of diamond rings holding value and being investments is just marketing spin by the diamond industry.

I lost the diamond from my engagement ring last year and so we ended up shopping for a new (bigger ;o) one. I looked online at the diamond sellers in the USA (good value and a bit of an eye opener!) and went to the jewellery quarter in Birmingham where we bought my first one (less good value) and I also looked at the High St jewellers (really not good value). I ended up finding my ring on Pinterest from an antique jewellery shop in Mayfair. I got an awful lot more for my money - probably less than half the price that it would have cost new and that was in the very heart of London.

I did look at eBay as well. Some of the rings seem really well priced but I'm not sure that there is huge demand for second hand rings. They can come with a bit of a stigma of perhaps coming from failed relationships . I have some 'maybe' rings in my watch list that I'm following from a year ago that are still for sale. Aside from falling in love with the design, I can tell from the shank that my ring was worn by another lady for a very long time indeed and I attached a feeling to that about taking it into my relationship, which isn't new either, and continuing that story.

I'm certainly no expert but I have a little recent experience and I really don't think they're worth as much as we'd like to think they are.

Try different places - it can't hurt as you're not committed to selling to anyone.