Best/safiest way to sell Wedding Ring set ?
So this guy at work called his wedding off but already bought his ring
and the engagement/wedding band set.
He has the certifications from Kay and the rings are worth about $5000
total. Dallas Gold and Silver offered $500 for the pair.
People have said Ebay, I thought about here but trust is always an
issue with something that either the buyer or seller dont know much
about.
For instance 2 people meet up and while you have the certifications,
unless you are a jeweler you dont know if the diamonds have been
replaced with Glass or just cheaper diamonds.
I have sold expensive jewelry in the past,and was shocked at what it
brings.Your friend can produce the Kay's documentation to a prospective
buyer and visit Kay's.The reality is,however Dallas Gold and Silver is
probably not far off.If you have ever worked around the wholesale jewlery or
pawn business,you will find ,with few exceptions,the retail price of
virtually any "name" jeweler is several times what a wholesaler would
pay.For example,I bought a Concord $20 Gold piece watch,with braided 18K
band which retails for $9995.I bought it at Bach's downtown for $5500.A
friend in the pawn business,(owns 2 pawn shops) would sell me one,like new
at any time for $3K.I also bought and liquidated about $20K in jewelry for
about $4500.The trick is in BUYING it wholesale,which you can if you try,as
opposed to selling it "retail".You can verify this in the Dallas Morning
News merchandise classifieds,under jewelry,virtually any day of the week,if
you wish.
Start off by knowing that if he bought the rings at a mall jeweler or
similar stand-alone store, the rings ain't worth a fraction of what he paid
for them. The gold value is negligible and the diamond is probably grossly
overvalued.
The best way to sell a single diamond is to get the GIA grading of the
diamond, in a specially sealed envelope with the diamond inside. That way
you are sure the diamondyou are paying for is the one being sold. I'm not
sure the same can be done with the diamond in the ring though and taking the
diamond out of the ring substantially devalue the aesthetic value of the set
of rings.
My take is that the $500 Dallas Gold & Silver offered is probably in line
with what your friend could excpect.
There is a place just off 635, I think it is called the Jewelry Exchange,
they can also put a resale value on the set of rings.
Some jewelers will let you trade in the ring as long as you buy something
else there. When I got divorced, the ex didn't want the ring, so I took it
along with the receipt back to the store and they glady traded it in for
what I originally paid for it, of course for a different item in the store.
That was JCPenney's, but a mall retailer might do it. You never know until
you ask.