Engagement Ring - Selling

kerry_b

Hi, not sure if this is the right place to post this message. I am looking for advice on selling an engagement ring. Tried bringing it back to jewelers where i bought it but they wouldn't buy it back. Any advice would be appreciated . Thanks

Paul_Hacket

What you are in the process of finding out is that diamonds have virtually zero resale value. Well, to put it more fairly, their resale value is a fraction of what you paid for it. Why is that? Because diamonds are not in fact particularly scarce and only command the prices that they do because they are sold by a cartel which controls pricing and creates artificial scarcity.

Your best bet might be to put it up on eBay with a buy it now price. Hopefully you've got a GIA or equivalent cert to go with it - you might get 50% of what you paid for it that way.

Sorry to bring the bad news. I've tried to explain to people on these boards before that diamond pricing is an outrageous rip-off and asked people to consider other options such as CZ artificial diamons or sapphires etc. but no topic generates more hostility than this one - people just don't want to know.

You might find the following article interesting:

HAVE YOU EVER TRIED TO SELL A DIAMOND
http://www.theatlantic.com/magazine/archive/1982/02/have-you-ever-tried-to-sell-a-diamond/4575/

kerry_b

Thanks Paul for replying to my question, might give eBay a look