Selling Engagement and Wedding Rings

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities
Post Reply
Topic Author
GeekGal
Posts: 54
Joined: Fri Aug 09, 2019 1:05 pm

Selling Engagement and Wedding Rings

Post by GeekGal »

Dear BHs,
Has anyone sold their engagement and wedding rings online? Do you know of reputable sites where one could do this? How do you determine a fair price?
Thanks,
GeekGal
TheDDC
Posts: 1352
Joined: Mon Jan 08, 2018 11:11 am

Re: Selling Engagement and Wedding Rings

Post by TheDDC »

GeekGal wrote: Sun May 16, 2021 10:42 pm Dear BHs,
Has anyone sold their engagement and wedding rings online? Do you know of reputable sites where one could do this? How do you determine a fair price?
Thanks,
GeekGal
You will get much better service with trade ins at in person jewelers, especially if you are planning on making a cash purchase there in the near future. Otherwise they will only offer you WHOLESALE pricing. Settings/diamonds have terrible resale. Ask me how I know...

-TheDDC
Rules to wealth building: 75-80% VTSAX piled high and deep, 20-25% VTIAX, 0% given away to banks, minimize amount given to medical-industrial complex
stoptothink
Posts: 9454
Joined: Fri Dec 31, 2010 9:53 am

Re: Selling Engagement and Wedding Rings

Post by stoptothink »

TheDDC wrote: Sun May 16, 2021 10:46 pm
GeekGal wrote: Sun May 16, 2021 10:42 pm Dear BHs,
Has anyone sold their engagement and wedding rings online? Do you know of reputable sites where one could do this? How do you determine a fair price?
Thanks,
GeekGal
You will get much better service with trade ins at in person jewelers, especially if you are planning on making a cash purchase there in the near future. Otherwise they will only offer you WHOLESALE pricing. Settings/diamonds have terrible resale. Ask me how I know...

-TheDDC
One of my best friends bought a ~$70k Tiffany's engagement ring. I think he was able to sell it for like $16k a few months later when it was called off. Just another example of how ludicrous the wedding/marriage industry is.
Psu4lif
Posts: 15
Joined: Thu Jan 21, 2021 1:01 pm

Re: Selling Engagement and Wedding Rings

Post by Psu4lif »

We used Worthy.com to sell an engagement ring from a previous marriage. Very easy and smooth transaction.

Expect to get 30-50% of what the "retail" price was when it was purchased.
Tom_T
Posts: 1619
Joined: Wed Aug 29, 2007 2:33 pm

Re: Selling Engagement and Wedding Rings

Post by Tom_T »

Diamonds aren't rare. The idea of spending X on an engagement ring is one of the most brilliant marketing schemes in history.
treesinthewind
Posts: 45
Joined: Tue Mar 31, 2020 9:35 am

Re: Selling Engagement and Wedding Rings

Post by treesinthewind »

For a wedding band with no gems, I sold it on ebay for basically the melt value of the metal (platinum). It was pretty painless compared to the events that led to the sale. The most important part is getting an accurate weight so they know what to offer. A kitchen or postage scale will *not* give an accurate weight (ask me how I know). Best to go to a jeweler if the sales paperwork doesn't have it. For metals, ebay buyers are all professionals and you will end up selling it for a fair price.
User avatar
Watty
Posts: 22661
Joined: Wed Oct 10, 2007 3:55 pm

Re: Selling Engagement and Wedding Rings

Post by Watty »

treesinthewind wrote: Mon May 17, 2021 9:24 am For metals, ebay buyers are all professionals and you will end up selling it for a fair price.
There are lots of scammers on eBay and if someone claims there was a problem they basically get an automatic refund.

There are lots of threads about eBay but after getting burned there I only sell stuff there now when there is no other option and it is only worth maybe $50 to $100 dollars.
adamthesmythe
Posts: 4211
Joined: Mon Sep 22, 2014 4:47 pm

Re: Selling Engagement and Wedding Rings

Post by adamthesmythe »

Since you will only realize a small fraction of the original price, do this only if you have to because of financial stringency, or because you can't bear the sight of them.
JackoC
Posts: 2320
Joined: Sun Aug 12, 2018 11:14 am

Re: Selling Engagement and Wedding Rings

Post by JackoC »

Psu4lif wrote: Mon May 17, 2021 8:08 am We used Worthy.com to sell an engagement ring from a previous marriage. Very easy and smooth transaction.

Expect to get 30-50% of what the "retail" price was when it was purchased.
I think an honest jeweler would admit you're likely to get a better price that way than from one random jeweler you walk into, and how many are you really going to walk into? Plus obviously it's not strictly either/or. You can try a jeweler you have some knowledge of (assuming not well enough to feel social pressure to deal at their price) and also reputable online consignment places like that. Somebody mentioned if you want to trade the ring for other jewelry but seems to me that's a special case, especially in state of mind people are are often in when selling an engagement/wedding ring. :happy
User avatar
dratkinson
Posts: 5377
Joined: Thu Jul 26, 2007 6:23 pm
Location: Centennial CO

Re: Selling Engagement and Wedding Rings

Post by dratkinson »

You can have a jeweler turn a diamond solitaire into a nice stickpin. And sell the metal for scrap value. Just sayin'.
d.r.a., not dr.a. | I'm a novice investor, you are forewarned.
Calico
Posts: 739
Joined: Thu Jan 01, 2015 5:45 pm

Re: Selling Engagement and Wedding Rings

Post by Calico »

dratkinson wrote: Mon May 17, 2021 2:57 pm You can have a jeweler turn a diamond solitaire into a nice stickpin. And sell the metal for scrap value. Just sayin'.
This is very similar to what I did. I am divorced and my ex-husband didn't want the rings (neither did I). But I tucked them away for a while. When my daughter turned 16, for her sweet 16 gift, I had a custom piece of jewelry made for her out of the diamond from my engagement ring and they gave me credit on the cost of the piece based on the scarp gold from the engagement and wedding bands.
User avatar
dratkinson
Posts: 5377
Joined: Thu Jul 26, 2007 6:23 pm
Location: Centennial CO

Re: Selling Engagement and Wedding Rings

Post by dratkinson »

Calico wrote: Mon May 17, 2021 3:24 pm
dratkinson wrote: Mon May 17, 2021 2:57 pm You can have a jeweler turn a diamond solitaire into a nice stickpin. And sell the metal for scrap value. Just sayin'.
This is very similar to what I did. I am divorced and my ex-husband didn't want the rings (neither did I). But I tucked them away for a while. When my daughter turned 16, for her sweet 16 gift, I had a custom piece of jewelry made for her out of the diamond from my engagement ring and they gave me credit on the cost of the piece based on the scarp gold from the engagement and wedding bands.
Similar story.

Me: (Wearing suit/diamond stickpin, at a holiday party.)
He: That's a beautiful diamond.
Me: Thanks. My fiancée gave it to me. Well... actually, she gave it back to me.
He: (Turning to wife.) Dear...?
She: Don't even think about it.
d.r.a., not dr.a. | I'm a novice investor, you are forewarned.
User avatar
alpenglow
Posts: 1249
Joined: Tue May 31, 2011 12:02 pm

Re: Selling Engagement and Wedding Rings

Post by alpenglow »

I've heard of some people using http://idonowidont.com, but I have no personal experience with them. As others have mentioned, you won't get good value. Perhaps you can repurpose?
User avatar
ICMoney
Posts: 418
Joined: Fri Oct 28, 2016 2:38 pm

Re: Selling Engagement and Wedding Rings

Post by ICMoney »

Psu4lif wrote: Mon May 17, 2021 8:08 am We used Worthy.com to sell an engagement ring from a previous marriage. Very easy and smooth transaction.

Expect to get 30-50% of what the "retail" price was when it was purchased.
I used worthy.com as well. They handled everything and I got what I felt was a decent price (admittedly, my rings were "average" and not high-end, so if yours are high-end, other options may be better). It sold fairly quickly and the proceeds were direct deposited to my bank account. Maybe I could have eked out a higher price elsewhere, but I appreciated the anonymity of their process and that it took basically zero time/effort on my part.

Best, ICM
delamer
Posts: 11509
Joined: Tue Feb 08, 2011 6:13 pm

Re: Selling Engagement and Wedding Rings

Post by delamer »

I’ve seen good reviews of Abe Mor, but can’t speak from lersonal experience: https://abemor.com/
One thing that humbles me deeply is to see that human genius has its limits while human stupidity does not. | | Alexandre Dumas, fils
Topic Author
GeekGal
Posts: 54
Joined: Fri Aug 09, 2019 1:05 pm

Re: Selling Engagement and Wedding Rings

Post by GeekGal »

Thank you all for your responses. I suppose the rings are considered high-end and my deceased husband probably paid a ridiculous amount for my engagement ring. I am not sure I am ready to sell them yet, but I am not sure what to do with them either. Maybe repurpose, but I would have to find a jeweler I trust. I will think about this more.
Post Reply