Safe way to sell expensive jewelry

[rfuerst911sc]

Hey guys , my mom passed away in 2005 . I ended up with her diamond engagement ring . I had it appraised about 5 years ago and it was valued at $1400.00 . Twenty years have passed and it's time to sell as we have no use for it . My wife is not interested in it .

So lets say I want to sell it for 1k or more , what is the best/safest way to do so ? Put an ad on FB marketplace ? Craigslist ? Consignment at a jewelry store ? If a cash deal is struck meet in police dept parking lot ? I am way out of my element on how to proceed .

[Shaun @ Tru6]

Jewelry store is definitely the safest that I can think of. Posting online to the general public doesn't seem safe at all.

[Rick Lee]

This is the go-to jewelry guy on another forum I frequent. He has a stellar reputation there and will treat you right.

https://www.google.com/maps/place/Mimi's+Jewelry/@33.6924048,-117.9555095,17z/data=!3m1!4b1!4m6!3m5!1s0x80dd27314147d849:0x2fb9f 49a422d5f79!8m2!3d33.6924048!4d-117.9555095!16s%2Fg%2F1tctm2m3?entry=ttu&g_ep=EgoyMDI1MDQyMy4wIKXMDSoASAFQAw%3D%3D

[wilnj]

Is there more value in keeping it whole? The sentimental value is only to you. The value of the metal is easily arrived at. The value of the stones is more subjective.

I would ask around for reputable local jewelers.

Knowing the hassle I deal with selling a car on FB marketplace, I’d hate to even think about it with jewelry.

[MMiller]

Used jewelry may be the toughest sell of all. I would sell the gold and have the stone made into a pendent/necklace, maybe your wife would enjoy that?

[chrismorse]

Some 60-80 year old jewelry was passed down to us. We had it appraised at a local Gold dealer. He offered approximately half of its current appraised value. There were some amazing, big jewel cocktail rings, beautiful big colorful stones, but none of the women were interested in wearing any of it, but we kept a couple of the simple wedding rings, to pass down to the grand kids -
35 years ago my great grandmother's wedding ring was given to me on my third marriage, (i'm part italian and german) - a simple gold band, but the family connection is important to me.
So, we took the 50% and divided it amongst the siblings.
If your local gold dealer also displays rings and other jewelry, they may make an offer. AS with most sales of personal stuff, it is probably a good idea to check with 2-3 dealers.
c

[aschen]

diamonds are a tough sell always, made worse because lab stones are so cheap and nice now, apprasials are usually optimistic "for insurance purposes".


Gold is the opposite, price is way up and its easy to sell. Should be able to get 90% of scrap value with some looking around

[rfuerst911sc]

I think I will check with the jewelry shop that did the appraisal . Maybe they would be interested in buying it or maybe sell it on consignment . To be honest it has lost most of the sentimental value it once had .

It has sat in my home safe for 20 years . Our oldest son is married and youngest son no prospects on the horizon . Our granddaughter is 15 . So no immediate need in the future . Not looking to get rich off it , just want it to go where it will be worn/enjoyed .

My dad was trained as a watchmaker in Germany . He sat down with a jeweler and inspected many diamonds under a eye loop to come up with the diamonds in the ring .

[masraum]

Originally Posted by rfuerst911sc

I think I will check with the jewelry shop that did the appraisal . Maybe they would be interested in buying it or maybe sell it on consignment . To be honest it has lost most of the sentimental value it once had .

It has sat in my home safe for 20 years . Our oldest son is married and youngest son no prospects on the horizon . Our granddaughter is 15 . So no immediate need in the future . Not looking to get rich off it , just want it to go where it will be worn/enjoyed .

My dad was trained as a watchmaker in Germany . He sat down with a jeweler and inspected many diamonds under a eye loop to come up with the diamonds in the ring .

Good luck. I suspect selling as a private seller or selling to someone that's going to resell is going to get you 25-40% of a current appraisal value.

[look 171]

My suggestion is to sell it separately. No one wants an old ring and it may not be their style. The gold is worth something, little imo. The diamond, on the other hand is worth market value or whoever want to be stuck with a big rock until it sells in their store and they have to make money on top of that. When my dad was in business, some people make their way up to our shop (we are not open to the public) asking to buy their gold rings and etc including their teeth. Gross. We always turn them down. Its never worth the trouble.

[id10t]

As the seller no more risk in posting online for a face to face transaction than any other item

If I was buying I would want to meet some place where I could have someone confirm I was buying what I think I am buying ....

But in all no different from the times I have bought/sold sooons, car stuff, etc via social media

[911 Rod]

I went through this and in the end sold it to a company for the gold value.

[faverymi]

Pawn Stars

[Cajundaddy]

We had a couple of gold and jewelry stores locally and I took some unwanted family jewelry in there, had it weighed and accepted their offer to buy it. In and out, wholesale rate, turned into cash. Gold is near all time highs right now so timing is pretty good.

I sell quite a few things on FB marketplace but jewelry made me uncomfortable.

[pmax]

Originally Posted by aschen

...apprasials are usually optimistic "for insurance purposes".
...

[dad911]

Originally Posted by rfuerst911sc

...... Our granddaughter is 15 . .....

I take it she never knew her grandmother. Call me sentimental, but if it was me I'd put the stone in a heart pendant for her.

Sad story: My mother's will specified for her jewelry to be divided in half, to each daughter. One of them hadn't spoken to mom in 15 years, never visited even when she knew mom was dying. Mom asked my other sis to give a piece of jewelry to each of her grandchildren, but didn't put it in the will.

It was painful to split the jewelry between them, my daughter got nothing to remember her grandmother, not even a cheap costume set. (there were dozens of rings and earrings) She would have loved something as a rememberance.

[LWJ]

Funny. I have coffee every Friday with the same guys. One asked a couple for a jeweler referral. The same jeweler was referred by two different guy spontaneously. THAT is a strong referral.

Ask around. There will be someone who does this.

[rfuerst911sc]

[QUOTE=dad911;12455860]I take it she never knew her grandmother. Call me sentimental, but if it was me I'd put the stone in a heart pendant for her.

You are correct , my mom and dad both passed before our 3 grandchildren were born . I never thought about having something made from the ring . The ring has 3 large diamonds surrounded by a bunch of smaller ones . I may consider this option . Thanks for the suggestion.

[GH85Carrera]

My mom had her ring modified, and had the two small diamonds from her mom's ring, and her mother in law's ring. My brother and sister in law grabbed it, and I have no idea what they did with it. I really do not care.

Dad had several nice watches, and one was Rolex. I kept the Omega Astronaut watch from the 60s. I sold the rest on consignment from a local jewelry store. The Omega watch is in my safe, and I am too lazy to bother to sell it, as it is not worth a lot. The modern batteries are too high of voltage and will ruin the watch, so finding the old batteries is the only option.

[Seahawk]

Interesting topic.

We had my wife's grandmother's wedding ring, a really nice old setting, all the positive cut/clarity buzzwords for the diamonds on the ring you can imagine: Fantastic.

When Jack told us he was proposing to his girlfriend, my wife asked Jack if he wanted the larger main diamond and put in a setting to his finances taste.

It was Jack's idea to take the smaller diamond in the ring and make a set of earrings for my wife and daughter.

His fiance loves the new setting. My wife and daughter will get their earrings as a surprise at his wedding in October.

I got nuttin'