What to do with a returned engagement ring?

Ug Lee

Anyway, she broke off the engagement on Thursday. It is a Tiffany 1.33 carat diamond and cost €10500. Repayments are €230 per month and there is still 3.5 years to go on a 5 year loan.

I don't think there is a market for 2nd hand engagement rings but can anyone point me in the right direction?

Little Miss Cutie

You can sell rings to a lot of traditional jewellers - i.e. not Fields/ Applebys etc.

I am not sure what price they would give you for the ring.

There are loads of experts here who I am sure will be able to give you better advice.

Sorry to hear about the breakup.

Acoshla

Ug Lee wrote: »

Anyway, she broke off the engagement on Thursday. It is a Tiffany 1.33 carat diamond and cost €10500. Repayments are €230 per month and there is still 3.5 years to go on a 5 year loan.

So OP do you mean you took out a 5 year loan for an engagement ring?

tinkerbell

Spadina wrote: »

So OP do you mean you took out a 5 year loan for an engagement ring?

This is totally and completely irrelevant to the poster's question and it's none of your concern how they paid for the ring.

OP - you could probably go around to some jewellers and see if they will buy it. Or you might need to sell it online, I'm not sure though. I'm so sorry to hear about your break-up

psycho-hope

Ug Lee wrote: »

Anyway, she broke off the engagement on Thursday. It is a Tiffany 1.33 carat diamond and cost €10500. Repayments are €230 per month and there is still 3.5 years to go on a 5 year loan.

I don't think there is a market for 2nd hand engagement rings but can anyone point me in the right direction?

sorry if im reading this wrong but if its a tiffanys ring they might buy it back off you, i know a friend of mine was able to sell a necklace back to them when she spilt with her husband. Otherwise try local jewellers and maybe auctioners that specialise in jewellery, i think theres one somewhere in templebar.

tinkerbell

Tiffany might take it back, you should check with them and see.

Acoshla

tinkerbell wrote: »

This is totally and completely irrelevant to the poster's question and it's none of your concern how they paid for the ring.

Actually tinkerbell if you wouldn't mind not being so snappy with me it is relevant, because if he has a loan to pay back on it he really needs to get good money for it to cover the loan, so mine and others advice may vary if this was the situation as obviously the most lucrative options would be the best ones, as opposed to the ones that just offloaded the ring quicker and for a lower price. I just wanted to clarify that that was what the OP was saying.

But as you mention it no it is not my concern how he paid for it, but it is still a strange thing to do, loans for weddings are one thing but a loan for an engagement ring is ridiculous.

iguana

Let's just keep this thread to discussing the OP's best current options, please.

Joe10000

Sent you a PM

Theboinkmaster

Spadina wrote: »

Actually tinkerbell if you wouldn't mind not being so snappy with me it is relevant, because if he has a loan to pay back on it he really needs to get good money for it to cover the loan, so mine and others advice may vary if this was the situation as obviously the most lucrative options would be the best ones, as opposed to the ones that just offloaded the ring quicker and for a lower price. I just wanted to clarify that that was what the OP was saying.

But as you mention it no it is not my concern how he paid for it, but it is still a strange thing to do, loans for weddings are one thing but a loan for an engagement ring is ridiculous.

No it's completey irrelevant - your post was just snide and pointing out the obvious. Of course the OP wants the most money he can get for the ring.

OP - you're obviously going to take a hit but ring Tiffany and get a price and then put onto ebay with a reserve, take plenty of pics of the cert etc and best of luck with the sale. If you don't have much history on Ebay ask someone who does - nobody will buy a ring from a user with low feedback.

Miaireland

First I am sorry to hear that your engagement has been called off.

You have a number of options and I would suggest that you look into them all before you make any action.

Firat I would approach the shop where it was purchased and see if they are willing to buy it back.

Second approach a number of other Jewellery shops (you may onsider going to the UK as well) and see what they would offer you. They may offer to buy the stone and ring part seperately.

You might consider holding onto the item as an investement piece (although with a loan for the item this may not be an option).

You may want to sell directly to a dimond dealer (I'm not sure if they exist in Ireland and if they do, research them well.)

nordine

http://www.cashforgoldireland.ie/

D3PO

nordine wrote: »

http://www.cashforgoldireland.ie/

Yep becasue he wants to be ripped off for a portion of its true value :rolleyes::rolleyes::rolleyes:

Hes made one silly choice regarding finance and this ring but thats a different discussion, Im sure he doesnt want to compund it with another one.

DM addict

Ug Lee wrote: »

Anyway, she broke off the engagement on Thursday. It is a Tiffany 1.33 carat diamond and cost €10500. Repayments are €230 per month and there is still 3.5 years to go on a 5 year loan.

I don't think there is a market for 2nd hand engagement rings but can anyone point me in the right direction?

Really sorry to hear hon.

Anyway, I would contact Tiffany's and see how much they could take it back for. The original retailer should definitely be your first point of call - I wouldn't be surprised if there's a policy in place for that sort of thing. However they *might* only want to give you credit/exchange, which obviously isn't what you're looking for. However I suspect they'd be within their rights.

Good luck.

seanmc1980

hey bro sorry to hear about the engagement bro, f88k her, get in touch with tiffaney and they give you a price to buy it back, in reality it could potentially be 1/2 what you paid. be prepared, you will take a hit on it.

spadine

you know what you were hinting at when you ask him did he get a loan for engagement ring. be honest with yourself at least,

dont know why people on these boards have such a problem with people spending money on weddings/engagements, bit sad really