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selling engagement ring

Does anyone have advice on the best way/place to do this?  I'm in NY, so I'm thinking the diamond district, but not sure if anyone has a better idea....  Thanks.

Re: selling engagement ring

  • Idonowidont.com

     

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  • I think if you sell it on consignment you can expect to get about 35% of the appraised value (that was what I was told at least).  A good friend of mine had a ring worth $8K and she ended up selling it for $2,250 I believe.  That wasn't on consignment though, that was outright to another friend.
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  • I'd go to the diamond district and see if you can work something out--likely consignment will be your best bet.  With the holidays coming up, it's a good time to sell.

    Personally, I'm working with my diamond broker (she's out of the Philly diamond district) to try to sell it directly to a buyer--it takes longer but I'll get more money in the end. 

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  • I brought mine to reputable jeweler and he bought it
  • Is it worth anything at the place it was purchased or do they have a buy back there?

    I'm not selling mine because it holds its purchase value at the place it was bought (and I have the paperwork for it - the information on the diamond and bands). They have a trade up program where I can bring it back at any time, spend $1 more and get something else.

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  • Mine is currently on consignment at the jeweler my XH bought it from.
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