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  • Best place to sell the ring

    I recently broke up with my fiancee and I now have an engagement ring that I would like to sell. Just wondering where the best place to sell a ring would be?

    From my research I have done so far I have three options.

    1) sell it to a jeweller. Its convenient and secure but I will get very little because the ring is made from a number of smaller diamonds.

    2) sell it on kijiji. I would like to hear other people's experience of this as its seems the best way to get the most value but I am worried about getting scammed or robbed. Whats the best way to sell on kijiji?

    3) online site like idonowidont.com. I am not too keen on mailing my jewellry to the states though.

    Anyone have any good experiences selling their engagement rings?

  • #2
    Kijiji. Cash sale, meet in a public place -potentially a jewellery store if the buyer wants verification of the value, bring someone with you, type up a letter of sale, two copies for each of you to sign and keep a copy of.

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    • #3
      My advice is to be prepared to get 50% of what you paid for the ring (if you are lucky). Shocking but that is the way it works. There is a huge mark-up on jewellery.

      Jewellers purchase diamonds for wholesale (real wholesale not the advertised wholesale prices you see in newspapers) so don't expect to get any more from them. People purchasing things on Kijiji are usually looking for deeply-discounted prices (assuming you may need $$ for a drug/gambling habit). I agree with blink - don't meet anyone alone.

      Another alternative is to have the ring fashioned into a pinky ring for yourself. For a few hundred bucks you might be able to get it made up into something nice for yourself or your mom?

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      • #4
        Give it to charity.. You dodged a bullet my friend.

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        • #5
          https://www.youtube.com/watch?v=NSQVVHyvOZU

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          • #6
            ^^^Hahahahaha! with all that extra cash, you'd think he could afford a better "rug" to put on top of his greedy lil' head!

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            • #7
              Originally posted by blinkandimgone View Post
              Kijiji. Cash sale, meet in a public place -potentially a jewellery store if the buyer wants verification of the value, bring someone with you, type up a letter of sale, two copies for each of you to sign and keep a copy of.
              Whats a letter of sale? Just an agreement that the purchase was made?

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              • #8
                Yup, just the who's, what's, how's etc, contact info for each.

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                • #9
                  Ok...you broke up with her and you have the ring?

                  Not sure what the law is in this regard but I would check it out before you sell it.

                  You break up with her= she keeps ring

                  She breaks up with you= you get back the ring.

                  But that depends on where you live. Better to CYA!

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                  • #10
                    Engagement rings are actually a low Margin item. Markup seems to run 20-30% as the store will take a hit on the price since it starts most men's jewellery buying habit, and they want to establish a relationship.

                    My cousin used to work in corporate at people's / zales.

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                    • #11
                      Originally posted by good_mom View Post
                      Ok...you broke up with her and you have the ring?

                      Not sure what the law is in this regard but I would check it out before you sell it.

                      You break up with her= she keeps ring

                      She breaks up with you= you get back the ring.

                      But that depends on where you live. Better to CYA!
                      There is no law on this in Canada. Either party can sell the ring depending on who has the ring.

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                      • #12
                        Keep it cor the next engagement!

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                        • #13
                          My ex tried to sell it to me, a ring that was given to her by me 13 years ago, i've told her she can do whatever she wants with it, she has unbelievable gutts to do this just before trial, it looks like for some people money is everything.

                          Sent from my LGMS631 using Tapatalk

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