How to sell a gold ring?

dllive
dllive Posts: 1,225 Forumite
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Hi

I bought a white gold ring with a diamond in it (it was about £350). Last week I noticed the stone had fallen out of it! :(

So I can either get a new stone set in it, or sell the ring. I want to do the latter. How best to get it valued and sold? Take it to 3 jewellers and get quotes?

Im not expecting much for it, but even £50 is worth having!

Comments

  • silvercar
    silvercar Posts: 46,955 Ambassador
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    Check your insurance, they may pay out for the diamond to be replaced.
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  • dllive
    dllive Posts: 1,225 Forumite
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    silvercar wrote: »
    Check your insurance, they may pay out for the diamond to be replaced.

    Thanks - but they would raise my premiums(?)
  • lincroft1710
    lincroft1710 Posts: 17,640 Forumite
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    dllive wrote: »
    Thanks - but they would raise my premiums(?)

    Possibly. .
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  • timmy963
    timmy963 Posts: 122 Forumite
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    edited 11 December 2018 at 6:33PM
    How long have you had the ring?
  • dllive
    dllive Posts: 1,225 Forumite
    First Post Name Dropper First Anniversary I've been Money Tipped!
    timmy963 wrote: »
    The markup on jewellery is insane, so in my opinion you would be incredibly lucky to get £50 for what I can only assume to be a 9ct ring with no stone.

    How long have you had the ring?

    Probably about 2 years.
  • vernie2
    vernie2 Posts: 1 Newbie
    Sorry to hear that :( Well, in theory you can get a good rate locally but maybe it’s worth selling it online? You expand your possibilities and maximize your chances for getting the best rate. It’s hard to tell how much can you get without seeing and appraising it. These online buyers usually want you to send your jewelry to them and then they will take a look and let you know about the price.

    Most of these services are legit and if you’re not satisfied with a quote, they’ll send you the jewelry back.
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    dllive wrote: »
    Hi

    I bought a white gold ring with a diamond in it (it was about £350). Last week I noticed the stone had fallen out of it! :(

    So I can either get a new stone set in it, or sell the ring. I want to do the latter. How best to get it valued and sold? Take it to 3 jewellers and get quotes?

    Im not expecting much for it, but even £50 is worth having!


    You could take it to some local reputable jewellers (not the We Buy Gold type places but real jewellers shops) and they will weigh it and tell you the price based on the weight of the gold and the current rate. The value of gold varies from day to day!


    When every TV ad break contained ads for companies buying gold I read on MSE what a rip-off most of them were. Lots of people didn't get their gold back if the offer wasn't acceptable, the companies said it had already been 'melted' and just sent them the offer price which was far lower than they would have got from a local jeweller:eek:. Have you noticed there are never any of these ads on TV now?;)


    I had various pieces of gold jewellery, mainly broken items and took them to a reputable local jeweller's shop, had them weighed and was really pleased with the money I received.
  • amyleah
    amyleah Posts: 6 Forumite
    Those days are long gone where selling things were considered a hectic job. After the advancement of iOT, you can sell your any item by just sitting at your couch.
    Here are some platforms you can use to sell your ring:
    Flippa
    Amazon
    STM (dont know they are accepting different item right now or not.)
    eBay
    ETSY
    Hope this answers to your question :)
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