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Old 08-25-2014, 03:17 PM   #1
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Places to sell back a wedding ring?

Apologies in advance for the randomness of the question

My friend is trying to get rid of an older wedding ring. It is a pretty expensive ring, with several diamonds on it

Does anyone know a reputable shop that I should recommend to them?

Much appreciated.
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Old 08-25-2014, 03:35 PM   #2
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My uncle owns a shop behind some alley over on the east side, PM for details.
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Old 08-25-2014, 03:46 PM   #3
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There isn't any where you can sell it for what you paid for. Remove the diamond yourself and sell the ring for gold value. Try suncorpgold.com to see what they pay for per gram.
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Old 08-25-2014, 04:00 PM   #4
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Pawn shops will buy it.
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Old 08-25-2014, 04:15 PM   #5
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Get it appraised then sell on craigslist.
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Old 08-25-2014, 04:34 PM   #6
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Pawn shops will buy it.
They'll also lowball you though
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Old 08-25-2014, 04:37 PM   #7
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Quote:
Originally Posted by Ludepower View Post
Get it appraised then sell on craigslist.
who would buy an used wedding ring?

most people will refuse to buy used wedding/engagement rings because they will just look at it as a "bad luck"

I would just sell it to gold smith for platinum/gold value and remove the diamond for jewelry dealer or again, gold smith.
Those custom jewelry shops will buy diamonds and put it on their next project.
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Old 08-25-2014, 04:58 PM   #8
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Quote:
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Get it appraised then sell on craigslist.
Dont man.. sounds pretty iffy



Doesnt Spence Diamond buy use weeding rings?
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Old 08-25-2014, 04:59 PM   #9
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My uncle owns a shop behind some alley over on the east side, PM for details.
Sounds totally legit.
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Old 08-25-2014, 05:17 PM   #10
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Sounds totally legit.
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Old 08-25-2014, 05:56 PM   #11
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Quote:
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Get it appraised then sell on craigslist.
Craigslist is the last place I would sell something small and high value. That's just asking to be robbed. On either side of the transaction.
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Old 08-25-2014, 06:12 PM   #12
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Dont man.. sounds pretty iffy



Doesnt Spence Diamond buy use weeding rings?
Spence only buys back their own rings.
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Old 08-25-2014, 06:48 PM   #13
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Pawn shops will buy it.
I know a guy who knows a guy who knows a lot more about rings than me. He says its worth 1500 but I'll give you tree fity
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Old 08-25-2014, 07:10 PM   #14
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do they have papers for the diamond? if they do, appraise it and then shop around. i'm sure some shops will buy it, but of course much less than your appraised value so they can profit from it. but at least it gives you an idea how much you can get it for.

as for the band, do as suggested.
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Old 08-25-2014, 07:25 PM   #15
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Quote:
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Get it appraised then sell on craigslist.
Reminds me of the guy who tried this and the guy who answered the ad killed him.

Engagement ring killer gets life in prison - British Columbia - CBC News
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Old 08-25-2014, 07:37 PM   #16
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Quote:
Originally Posted by Timpo View Post
who would buy an used wedding ring?

most people will refuse to buy used wedding/engagement rings because they will just look at it as a "bad luck"

I would just sell it to gold smith for platinum/gold value and remove the diamond for jewelry dealer or again, gold smith.
Those custom jewelry shops will buy diamonds and put it on their next project.
I bought a used engagement ring off Craigslist. I arranged with the seller to meet at an appraiser so they could verify the diamond was the same quality as what they claimed.

I found a branch of my bank that was close to the appraiser. I told the seller that if the diamond checked out that we could go to the bank together and I'd withdraw cash for him right there. Seller agreed and thought my conditions were very reasonable. No meeting in parking lots, after hours, shady neighborhoods or worse yet, your own residence.

What I actually did was bring the cash with me. As soon as the appraiser verified the diamond I talked to the seller and we agreed on a price. I gave him the cash in the office while waiting for the appraiser to print off the appraisal.


Selling a used ring is tough. You're going to take a hit on the value (which is why I bought mine this way). I got a very good diamond and saved about $2,000 off retail (meaning I got a ring appraised at $15,000, retail was probably more like $7,500, and I paid $5,500).

I took the diamond out and had a new ring/setting made in a different style. So only the diamond was "used", but since they don't wear out or get damaged, it's not really used.

A pawn shop or retailer is going to give you jack shit for your ring. They want to make money so are going to look at giving you wholesale (or likely less than wholesale since they'll have to remove the diamond and make a new ring).


Sell it privately, and be patient. Put your conditions for sale in your ad and make it clear you will not make any "deals" or sell it any other way. Do something similar to me (suggest meeting at an appraiser for security and then going to a bank to get cash afterwards). This will weed out a lot of scammers (although you'll still get the idiots who want to PayPal you to send the ring to them).

It's not hard selling something and keeping yourself safe. But it's going to take some time (probably months).
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Old 08-25-2014, 07:41 PM   #17
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Quote:
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who would buy an used wedding ring?

most people will refuse to buy used wedding/engagement rings because they will just look at it as a "bad luck"
The whole diamond industry is a joke. But we gotta make the wife happy right? So why not save a bit and buy a used diamond and put it on a new band for her. What's so badluck about that?


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Craigslist is the last place I would sell something small and high value. That's just asking to be robbed. On either side of the transaction.
Selling ur used car back to the dealership its almost highway robbery.
Same for jewellery shops buying back diamonds. Appraised value means nothing. You''re going to get lowballed.

My friend bought a 10k diamond appraised for 20k on Craigslist.
He met at a secured jewellery store where the transaction was safely verfied for both parties.
3 months later when the engagment was a bust.
He resold it on cragslist and barely lost since he originally bought it for a good deal.

That a first hand witness account. Dunno why I was failed for giving OP a suggestion
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Old 08-25-2014, 07:45 PM   #18
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And now if you're buying a ring...

Spoiler!


Buyers guide for used diamond jewelry on craig's list

OP could also follow the things listed to make sure it's good to go as the information provided is good both ways.
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Old 08-25-2014, 07:57 PM   #19
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The whole diamond industry is a joke. But we gotta make the wife happy right? So why not save a bit and buy a used diamond and put it on a new band for her. What's so badluck about that?
I was just saying about used wedding/engagement ring, not the diamond itself. Well, kind of same thing, I know.

When you're trying to sell used wedding band, obviously that just means the marriage ended or didn't work out, which just means bad luck.
If you're shopping an engagement ring for your future wife, would you buy from someone saying "hey, our marriage failed, so I wanna sell this ring, do you wanna buy it?" You know what I mean?
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Old 08-25-2014, 08:02 PM   #20
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I took the diamond out and had a new ring/setting made in a different style. So only the diamond was "used", but since they don't wear out or get damaged, it's not really used.
Yeah this is true, with exception of "new mined" diamonds, there are a lot of pre-owned diamonds from Royal families floating around in super high end jewelry stores.

A of diamonds have laser serial number just so that there's no previous history (if that matters to you) but who really knows where it's coming from.
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Old 08-25-2014, 11:21 PM   #21
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When you're trying to sell used wedding band, obviously that just means the marriage ended or didn't work out, which just means bad luck.
Hire an older and refined chap and sell the story that his wife passed away after their golden anniversary then. It's all in the marketing.
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Old 08-25-2014, 11:38 PM   #22
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Old 08-26-2014, 09:15 AM   #23
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If the ring is good condition and from well known brand, you might try an auction house in Canada. Rings in the 5 figure range sell for decent prices while rings in the 6 figure range sell for significant discount in Canada as most buyers are dealers and resellers so best to contact Sotheby or Christies auction in US to sell those.

If you can provide more info, that would allow us to help you. E.g. What is the size, clarity, cut of the diamond? Is there a GIA certificate for it? A princess cut diamond is much easier to sell than a pear shaped one. A top quality diamond is easier to sell than ones with high incisions and color typically found in mall jewelry stores.

Last edited by Terwg; 08-26-2014 at 09:24 AM.
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Old 08-26-2014, 01:30 PM   #24
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Quote:
Originally Posted by Blue_StreakR View Post
Apologies in advance for the randomness of the question

My friend is trying to get rid of an older wedding ring. It is a pretty expensive ring, with several diamonds on it

Does anyone know a reputable shop that I should recommend to them?

Much appreciated.
Just happens to be that Able auctions is having free jewellery appraisal day tomorrow. Not sure about the details, but worth a try.

Flyer - Able Auctions
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Old 08-26-2014, 01:57 PM   #25
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Reminds me of the guy who tried this and the guy who answered the ad killed him.

Engagement ring killer gets life in prison - British Columbia - CBC News

Stabbed the guy 60+ times then a gunshot to the head.


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