Where to sell wedding ring

dave7035

Not sure where to post this subject so I thought I'd start here. Tried the Selling thread but couldn't find a way to post.


My daughter is going through an acrimonious divorce and wants to sell her wedding and engagement rings to help poay the solicitors bill. Together they have beenvalued officially at over £7k


The jeweller who valued them (who also sold them in the first place) advised selling online in order to achieve the best value for them. They suggested eBay and Facebook as possible sites to sell!!

Can anyone provide advice and recommend a direction for my daughter to follow?

Thank you in adavance

LilElvis

I would take them first to some independent jewellers to get a feel as to what she might be offered - preferably somewhere like Hatton Garden or the Birmingham jewellery quarter. Are any of the stones in the engagement ring certified diamonds? If they are she should take the certificates with her.

Edit: did she buy from an independent or a chain jeweller. If it was an independent why didn't he make her an offer?

dave7035

Hi LilElvis,


Thank you for your reply. She bought them from an independant jeweller and he offered her £1k!! stating he didn't deal in second hand rings and would only melt them down. The engagement ring is the higher value at over £4k and I believe that they are certified diamonds.


I have found HattonJewels.com which give an initial valuation by email after filling in details from the jewellers report along with images of the rings. Sounds a bit safer than eBay!


David

lincroft1710

dave7035 wrote: »

Together they have been valued officially at over £7k

Valued for what purpose? Insurance? Jewellery has a very high mark up, so if the valuation was for insurance purposes, your daughter will be looking at achieving a much, much lower figure

dave7035

Hello lincroft1710,


They were valued for the divorce finances (which the magistrate ultimately rejected as irrelevant). I don't think my daughter expects to get anything close to the valuation figure.

74jax

Deleted due to post 11, and I'm hanging my head in shame....

anna_1977

I agree with the above, I have a ring valued at £7500 but street worth to sell is prob about £2.5 - £3k

barnaclebill

I stopped using ebay for selling unwanted jewelry a few years ago when I noticed most were just trying to get the items below the scrap value and one time a buyer complained they had not received the item and had to go to paypal dispute.
Now if my wife has an unwanted piece I send it to Lois in Birmingham for scrap, I have found that unless it is a diamond or emerald the value is in the gold. Firms who sell on ebay are prepared to wait a long time to get a good price if it is unusual,

PrettyKittyKat

You could put a post on Facebook, but the easier and less hassle option is probably approaching shops that advertise buying jewellery and getting quotes. Then sell the to highest quote.

System

Unfortunately, the previous poster is correct. Jewellery is worth very little second hand to a dealer. My partner has a few very nice diamond rings, probably 'worth' 10k, however she'd probably only get three on the market. Forget eBay, forget Facebook, you'd have to be a bloody mad man to buy high-valued jewellery from there! Sell on to an antiques store/jeweller and expect to take a proper hit...remeber they pay for the raw materials, not the workmanship in most cases.

marcarm

74jax wrote: »

Ebay is pretty safe, you can ensure that payment is made through PayPal only and add collection only to the listing if that makes you feel better?


Have a look on there at rings similar and them look at the SOLD prices to see what they are actually going for.

Except that you should never take paypal and allow goods to be collected.