I had a really spectacular engagement ring. It wasn’t that it was huge or particularly expensive. It was unique — the 24-carat yellow gold band consisted of a half-dozen hand-hammered connected spheres, each centered with a very nice diamond. It was totally my style, and it got lots of attention (which is also my style).
When I divorced I put the wedding rings in the safe in my house. In the back of my mind I thought I would give it my daughter one day — a token of the marriage that produced her. Plus, I just wasn’t ready to sell engagement ring — or part with that time of my life. I see now I wasn’t ready to face it.
Why sell diamond engagement rings
But this summer I had a change of heart. I thought to the handful of people I know who used as their wedding rings left over from marriages that ended in divorce. Some of those rocks were impressive — far more expensive than the young couple could have afforded on their own. It always struck me as bad karma to start a life together with a token from another couple’s less-than-ideal story.
I am a big, big believer that things have power. Whether material possessions actually absorb and retain energy from the people and experiences around them, or if it is your own memories and feelings that give the object influence over you, I’m not sure. But if your walls are lined with pictures of family members who you distain, that is bad mojo. That tchoke from a vacation on which you fought mercilessly with your BFF is a reminder of sour times – not margaritas on the beach.
And if you surround yourself with things that remind you of the relationship from which you are trying to start anew, well, change that up.
And so last summer I decided to sell my engagement ring. I did some research and since it is a brand name designer (Gurhan is a known Turkish jeweler, his stuff is sold at Saks 5th Avenue and Neiman Marcus), it made sense to find through a local jeweler that would pay for that intrinsic value.
Let go of old things, it makes space for new
I called a local Gurhan boutique, which recommended the company I used. You can search Yelp or CitySearch for a reputable local jeweler. I admit that the cash was less than I’d hoped, but after some research understand that there is a significant difference between retail and reseal value of jewelry. It is what it is. I used the money to send my kids to Europe with their dad to visit relatives there. It seemed a just use of those funds. Plus, it felt good to rid my home and mind of that significant marriage memento.
If you have a significant ring, loose diamond (or branded watch) you expect would fetch more than $1,000 at market, I recommend Worthy, an on online auction site that makes it very easy to sell your bridal jewelry online, for a fair price. Best yet, you can get a very good idea of whether Worthy is right for you even before you commit to working with them. I like Worthy because their system is very transparent, they have an A+ Better Business Bureau rating, and their website is very easy to use. Plus, there are dozens of reviews and video testimonials from very happy customers.
Ready to sell your diamonds? It works like this:
Go to Worthy.com, enter the information about your jewelry, including size and grade of your jewelry or stone, name and email. Within a day they will email you an estimate market value for your piece. If that price suits you, Worthy will send you a mailer, in which you send the jewelry, diamond or watch to them — Worthy pays for all shipping and insures the item for up to $1 million. Sweet!
You then agree on a “reserve price,” or the lowest price you are willing to accept, as suggested by Worthy’s experts. Next, Worthy puts your item up to at least 100 potential buyers worldwide, who can then bid on your item. Worthy promises to have an offer within 7 days of receiving your item, and deposit your profits within 24 hours. Worthy takes up to 20 percent of the sale price. They are very transparent: If they don’t sell your item for at least the reserve price, they return it to you, free of charge, no questions asked.
I love that Worthy will pay you $100 if you successfully sell your item that was auctioned on Worthy, for a price higher than the auction offered, with an independent jeweler.
Why sell other diamond jewelry
If your jewelry is modest, there are other options. In my jewelry box, were a couple of modest gold and diamond rings a relative had given me when I married. Time to go! I did some research and decided to try to sell engagement ring at CashforGoldUSA and CashforDiamondsUSA (they have the same parent company), one of those places that advertise on TV. Those sites always seemed super-cheesy. But I researched this one.
The parent company, CJ Environmental, has a BBB rating of B+. From past research I’ve done as a business journalist on selling gold jewelry (including dental fillings. I’m not kidding), I know mail-in services like this can be a good deal, as can your local pawn shop. Just research them first. I decided to try CashforDiamondsUSA.
It turned out to be really easy. I plugged in my name and address on their website, they sent me a mailer, I stuck the rings jewelry in it, dropped it in the mailbox and two weeks later got a check (they also give you a tracking number to chart it online).
I was pleasantly surprised. One of the rings – 12-carat gold with a couple of small diamonds, fetched a $159 check. The other, similar, but of indeterminate quality, was actually returned. I was at first disappointed, but the rejection made me trust the company more. They were being honest: Nothing personal, the return implied, but your crappy ring is dead to us.
The bottom line is that it is that I sold an engagement ring that I didn’t use, no longer wanted, and kept me holding on to a relationship that I was no longer in. Plus, I got some cash that I needed at the time.
I don’t think it was insignificant that same month I started my first significant relationship in two years. I also think that selling those diamond and gold rings has something to do with the fact that my ex and I have been getting along better than since before our split. In ways I don’t fully understand, I was freed.
How about you? Do you still have your engagement ring? Or did you sell your wedding ring, give it away, turn it into a necklace, or throw it out the car window into a ditch on the way home from the court date finalizing your divorce? Please share in the comments …
Some of the links in this and other posts generate a commission. I never recommend products that I don’t truly believe in. Seriously – I get asked to write about stuff all the time and turn down hard cash if I’m not feeling it.
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