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Selling expensive engagement ring after breakup

MrSzyslak

My friend is selling an engagement ring after fully parting ways with his fiancee. He paid 15K for the ring and is now wondering where he would get the best price for it??

Cheers.

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smcgiff

Best to keep it for his next proposal. There's massive markup on jewellery. He might get €5k from a jeweler.

MrSzyslak

smcgiff wrote: »

Best to keep it for his next proposal. There's massive markup on jewellery. He might get €5k from a jeweler.

do people buy privately, or is it considered too dodgy?

thats crazy mark-up alright.

if anyone has any ideas where would be best to bring it that be great!!

racso1975

Check out oreillys jewellery auctions. Very high quality stuff. Plus he can put a reserve on it too

damobirdie

my bro sold his ex ring on adverts for 8k . he paid 12Ä· for it . give it a go . nothing to lose. meet in public place tough

CeannRua

I sold an engagement ring for someone recently through John Weldon auctioneers in Dublin. It wasn't a very expensive ring - achieved 26% of original price at auction and went for higher than his estimate at that. He was telling me about another ring that originally cost €10,000 and went for €2,000 at auction. There doesn't seem to be a great return but I didn't want the hassle security wise of meeting people so went for the auction option. For anyone on a budget looking for a ring though, there's really good value out there.

westernlass

We bought from o reillys recently. It was great for us as we got a 6.5k ring for 1.7k. Theres massive mark up. Pretty much every piece sold. Cant recommend enough, excellent customer service.

Apparently November is when theres best prices for sellers in run up to xmas. We got lucky we went to October auction not realising what we were doing that it was a quieter one.

Gumbo

Place on Adverts and see if there is interest. People can meet in a jewellers and have it expertly checked out to verify its credentials etc

GIA certificate will be mandatory when selling though for a potential buyer to check before even meeting up as the Certs can be verified online.

Would love to see a pic of the ring.

CaraMay

westernlass wrote: »

We bought from o reillys recently. It was great for us as we got a 6.5k ring for 1.7k. Theres massive mark up. Pretty much every piece sold. Cant recommend enough, excellent customer service.

Apparently November is when theres best prices for sellers in run up to xmas. We got lucky we went to October auction not realising what we were doing that it was a quieter one.

How were you sure of the quality when buying?

westernlass

They are excellent in there. Can go and view beforehand. I didn't actually know full value gwen we bought it. We knew a guide at auction is three times the predicted price range. The catalogue was online so researched similar.

When I went to collect it they offered me a valuation for free for insurance. The main guy gave me 6.5k quickly but the cert is in the post. It's illegal to give a false one in case of insurance purposes.

I guess with all jewellery it's a risk but they are 80-100 years in business so reputation alone gave us confidence.

farmerjj

MrSzyslak wrote: »

My friend is selling an engagement ring after fully parting ways with his fiancee. He paid 15K for the ring and is now wondering where he would get the best price for it??

Cheers.

15k for a ring

CaraMay

farmerjj wrote: »

15k for a ring

Each to their own. People are so judgemèntal.

farmerjj

CaraMay wrote: »

Each to their own. People are so judgemèntal.

Its terrible is,nt it,ppl giving opinions

CaraMay

farmerjj wrote: »

Its terrible is,nt it,ppl giving opinions

Emoticons don't count as serious opinions in my world

Sam Kade

farmerjj wrote: »

15k for a ring

You know the saying about fools and their money

If I were stupid enough to spend that in the first place I would be making sure that I had the right woman.

fits

Id be tempted to hold on to the stone and make up a new ring or piece of jewelry with it in future. You won't get much of your money back if you sell.

Sam Kade

The worlds most effective advertising campaign ever.

http://www.exposingtruth.com/diamond-engagement-ring-greatest-marketing-scam-history/

fits

Sam Kade wrote: »

The worlds most effective advertising campaign ever.

http://www.exposingtruth.com/diamond-engagement-ring-greatest-marketing-scam-history/

oh what an original line to take on a thread, can we talk about how ryanair is awful next?

Diamonds are far from the only product whose value is manipulated by marketing.

victorcarrera

farmerjj wrote: »

15k for a ring

And for 2 out of 5 (and increasing) Irish couples who separate this would be a relatively cheap opt out rather than doing the same a few years down the road after much larger investments.

lazygal

Sam Kade wrote: »

The worlds most effective advertising campaign ever.

http://www.exposingtruth.com/diamond-engagement-ring-greatest-marketing-scam-history/

I feel really smug and superior that I read this before I got engaged and didn't fall for a scam marketing campaign. Go me!
Oh wait, no, I just picked what I liked. Which for some people, but not me, is a diamond.

Sam Kade

fits wrote: »

oh what an original line to take on a thread, can we talk about how ryanair is awful next?

Diamonds are far from the only product whose value is manipulated by marketing.

You missed the whole point before the debeers couples actually managed to get married with out a diamond ring. Ryanair offer a great service at great value. Do you know how much diamond rings are up sold?

lazygal wrote: »

I feel really smug and superior that I read this before I got engaged and didn't fall for a scam marketing campaign. Go me!
Oh wait, no, I just picked what I liked. Which for some people, but not me, is a diamond.

You go girl, make sure you show your sparkler to your friends once or twice before you retire it to some drawer which is where the majority of them end up at a fraction of their original cost.

lazygal

Sam Kade wrote: »

You go girl, make sure you show your sparkler to your friends once or twice before you retire it to some drawer which is where the majority of them end up at a fraction of their original cost.

Gosh I got engaged without a diamond ring too. Does that make me special? My sparkler is on my finger right now, as it has been every day since I got engaged. And most of my friends rarely, if ever, take their engagement rings off, those that have them that is.
My mum never had an engagement ring at all. She must be the cleverest of them all.

indigo twist

CeannRua wrote: »

I sold an engagement ring for someone recently through John Weldon auctioneers in Dublin. It wasn't a very expensive ring - achieved 26% of original price at auction and went for higher than his estimate at that. He was telling me about another ring that originally cost €10,000 and went for €2,000 at auction. There doesn't seem to be a great return but I didn't want the hassle security wise of meeting people so went for the auction option. For anyone on a budget looking for a ring though, there's really good value out there.

I sold mine through John Weldon too, similarly for around a quarter of the purchase price. He's very professional and friendly, and the whole process was very smooth and efficient. You'd probably get more selling privately, but for me it wasn't worth the hassle and security risk ... I was much happier to leave it all in the hands of an expert.

CaraMay

Sam Kade wrote: »

You know the saying about fools and their money If I were stupid enough to spend that in the first place I would be making sure that I had the right woman.

You don't have to spend money to be a fool.

fits

Sam Kade wrote: »

You missed the whole point before the debeers couples actually managed to get married with out a diamond ring. Ryanair offer a great service at great value. Do you know how much diamond rings are up sold?

.

Really? Wow! you have just blown my mind. I have never ever read this before about diamonds. ever.

Nice advice to OP to make out like his friend was a fool, probably at a tough time.

victorcarrera

Expensive to buy, 27% (minimum) chance you made a mistake and will have to go to court to buy your way out, depreciates 75 to 80% on the day you buy it and even if you do stick it out there is a 90% chance you will secretly admit that you married the wrong person. Not a very good investment then or a very expensive drug.

fits

victorcarrera wrote: »

Expensive to buy, 27% (minimum) chance you made a mistake and will have to go to court to buy your way out, depreciates 75 to 80% on the day you buy it and even if you do stick it out there is a 90% chance you will secretly admit that you married the wrong person. Not a very good investment then or a very expensive drug.

The divorce rate is far far lower in Ireland. And noone should have to buy themselves out of anything. Stop looking at American websites.

[Deleted User]

smcgiff wrote: »

Best to keep it for his next proposal.

"oh this is gorgeous where'd you get it"
"oh it was originally for my ex who didn't want me"

fits wrote:

Id be tempted to hold on to the stone and make up a new ring or piece of jewelry with it in future. You won't get much of your money back if you sell.

This might be a better option all right

Toots

If posters haven't got any helpful advice to offer the OP then please don't post in the thread. If someone wants to spend 500 or 5 million on an engagement ring then it's nobody's business but their own. People getting all preachy about engagement rings being a waste of money and relating the amount to spend on a ring to divorce statistics should not be posting in this forum.

Kelly06

If the diamond is certified and is over a certain size say 1 ct then there are diamond traders that will purchase off you for the wholesale price of the diamond. I am selling my own 1ct diamond which originally cost 6,000 and I am getting 3,000 for it. Because of the high value of the ring it is unlikely to get much interest off adverts etc.

eviltwin

At least you got it back OP, some men never do. I don't have any advice but I hope you get a good deal and that you are doing okay.