Where to sell an engagement ring?
Discussion
Sell privately.
Any pawn brokers or jewellers who buy it will only pay its scrap value, been there done that. The precious metal value is next to nothing really it's all done to the rock quality / clarity, but it's still at wholesale prices. Surprising how little diamonds for example are actually 'worth' to the trade
Any pawn brokers or jewellers who buy it will only pay its scrap value, been there done that. The precious metal value is next to nothing really it's all done to the rock quality / clarity, but it's still at wholesale prices. Surprising how little diamonds for example are actually 'worth' to the trade
With the current obsession with internet metal values and cheap stones from box pushers like Blue Nile you can only expect a scrap or trade rate no matter who you sell to. People are no longer naive when it comes to buying second hand. The hard bit to swallow is that people want the earth when they want to sell but the reality is nobody wants to pay for used goods. Even new products are feeling the pinch of tight arsed, internet crazed shoppers.
Metal prices are available online, updated twice daily and people can look up the value of your diamond and make offers based upon that.
I suspect, unless you bought used, you may also have been ripped off / less than savvy when you bought it. eg:
I had a customer come in yesterday looking for a 0.50ct H colour VS1 diamond in a Platinum mount. He'd been to Ernest Jones and was offered and pitched one of their Leo Stone rings. The reality is that a Leo stone is no different to any other diamond and worth the same, if not less than the equivalent brilliant cut round stone. How much was that ring in EJ I hear you ask?...... £5k!
I had in the cabinet an F (better colour), VS1 0.52ct brilliant cut in a halo mount with another 0.25ct of diamonds set around the centre stone. £1850 in 18ct white gold or £2150 in Platinum if he fancied it.
That's how much people are being ripped off on the highstreet!
So, how much is the 0.50ct stone being bought for by the dealer? Answer: Under £800 most likely at my end and under £500 by Ernest Jones given they buy bulk. If he wanted to sell that ring he'd be looking at £500 to me. There's no point in a trader buying it at any higher rate if the trader can buy loose stones at a similar price. I can't be bothered looking a BN or 77 prices but I bet they are under £1000 for the same stone.
So, what stone does your ring have in it? How much did you pay? For amusement more than anything else I'm willing to let you know what it's really worth.
Eddie
Metal prices are available online, updated twice daily and people can look up the value of your diamond and make offers based upon that.
I suspect, unless you bought used, you may also have been ripped off / less than savvy when you bought it. eg:
I had a customer come in yesterday looking for a 0.50ct H colour VS1 diamond in a Platinum mount. He'd been to Ernest Jones and was offered and pitched one of their Leo Stone rings. The reality is that a Leo stone is no different to any other diamond and worth the same, if not less than the equivalent brilliant cut round stone. How much was that ring in EJ I hear you ask?...... £5k!
I had in the cabinet an F (better colour), VS1 0.52ct brilliant cut in a halo mount with another 0.25ct of diamonds set around the centre stone. £1850 in 18ct white gold or £2150 in Platinum if he fancied it.
That's how much people are being ripped off on the highstreet!
So, how much is the 0.50ct stone being bought for by the dealer? Answer: Under £800 most likely at my end and under £500 by Ernest Jones given they buy bulk. If he wanted to sell that ring he'd be looking at £500 to me. There's no point in a trader buying it at any higher rate if the trader can buy loose stones at a similar price. I can't be bothered looking a BN or 77 prices but I bet they are under £1000 for the same stone.
So, what stone does your ring have in it? How much did you pay? For amusement more than anything else I'm willing to let you know what it's really worth.
Eddie
People will pay their prices though. Reason: finance!
Even though the ring was £3k more than what I'd charge people without the funds will still pay the stupidly inflated window price. That's exactly what he did too as I can't do any finance deal where you take the ring away and pay later.
Even though the ring was £3k more than what I'd charge people without the funds will still pay the stupidly inflated window price. That's exactly what he did too as I can't do any finance deal where you take the ring away and pay later.
Because they can market it with the backup that they have big overheads, investment costs, insurance costs etc. Abd, because nobody is really complaining nobody is going to investigate or query it any time soon.
The other thing is, because you're not forced to buy from them it can't be seen as monopolising or price fixing. Plenty of competition, just not all of them offer that deal breaking finance.
The other thing is, because you're not forced to buy from them it can't be seen as monopolising or price fixing. Plenty of competition, just not all of them offer that deal breaking finance.
Du1point8 said:
Query...
When the high street (not yourself) does a market manipulation like this, why is it not pulled up?
Yet when something like the airlines do it (I believe they got together and did this) they got fined and there was a court case.
Bloomin' 'eck. You'll be expecting Burberry to be selling their raincoats at Primark prices next.... When the high street (not yourself) does a market manipulation like this, why is it not pulled up?
Yet when something like the airlines do it (I believe they got together and did this) they got fined and there was a court case.
hashtag said:
And this thread highlights the reality that the dominant chains now taking over the world are ripping of the consumers.
And people are sucked into their lies
No, people are prepared to pay for something shiny. Nobody here says that someone handing over £5k or 10k for a Rolex is beng ripped off, when other people offer very high quality automatic watches for 1/10 of the price. You want it, pay the money. You don't, then go elsewhere. Nobody *needs* a diamond ring or a Rolex.And people are sucked into their lies
battered said:
No, people are prepared to pay for something shiny. Nobody here says that someone handing over £5k or 10k for a Rolex is beng ripped off, when other people offer very high quality automatic watches for 1/10 of the price. You want it, pay the money. You don't, then go elsewhere. Nobody *needs* a diamond ring or a Rolex.
Correction. I *need* a Rolex. My girlfriend doesn't *need* a diamond ring... KungFuPanda said:
battered said:
No, people are prepared to pay for something shiny. Nobody here says that someone handing over £5k or 10k for a Rolex is beng ripped off, when other people offer very high quality automatic watches for 1/10 of the price. You want it, pay the money. You don't, then go elsewhere. Nobody *needs* a diamond ring or a Rolex.
Correction. I *need* a Rolex. My girlfriend doesn't *need* a diamond ring... How else would you tell the time.
ecain63 said:
People will pay their prices though. Reason: finance!
Even though the ring was £3k more than what I'd charge people without the funds will still pay the stupidly inflated window price. That's exactly what he did too as I can't do any finance deal where you take the ring away and pay later.
I've just sent you an email... Even though the ring was £3k more than what I'd charge people without the funds will still pay the stupidly inflated window price. That's exactly what he did too as I can't do any finance deal where you take the ring away and pay later.
Gassing Station | Watches | Top of Page | What's New | My Stuff