Vintage Style Engagement Ring, Anyone ever break an engagement?
Q.What the hell does one do with the ring? Years ago I made the mistake of buying a $10,000 ring from Tiffany's. The engagement didn't "take". But now its time to lose the damn thing. It's been sitting around for too long and $10k shouldn't be stuck in a drawer. But it's not worth $10k, or is it? I know that Tiffanies charges a premium of 40%, but that's retail. I'd be happy if I could sell it for $6k, but after some telephone calls to folks who advertise that they buy this stuff, I get a feeling that I'll only get three our maybe (maybe!) four grand out of this. It's a VVSI 1.15 carat, still in the box with everything, certificates and all. I looked at Ebay and other than the fact that all of the "Tiffany" rings seem to be actually "Tiffany Style" (i.e. not Tiffany) I'm not sure I want to trust a third-party payment system like Paypal, especially after all of the horror stories I have heard. Any ideas? I know I won't get anywhere near what I paid for it, but boy, I can't believe it's really only worth 20%, the damn thing is still in the box. Has anyone here ever gone through this? What did you do?
A.Save it until someone else comes along that doesn't break the engagement. Besides that, stay away from "people who advertise that they buy stuff like that." They'll pay you wholesale, which means around 10-20% of what you paid. You'll do better shopping it around your circle of acquaintances until someone says they want to get married, and their intended should have that ring. You could try Ebay. Just make sure you spell "diamond ring" correctly. First of all, I wish you an ultimately happy outcome and I hope you find the woman of your dreams who loves you for all that you are, including being someone with romantic Tiffany tastes. A stone that size is not usually worth $10k. The VVS1 only mentions the clarity (which is very good), but you have not told the stone's color. I am assuming it is as nice as the clarity. That is not to say that the ring itself is not worth that amount. It might have other stones and an impressive mounting. But you are correct about Tiffany's and their prices. It is a wonderful place to go with a fiance to look and get treated very well, but you then go down to 47th Street or Canal to buy. Any dealer you sell it to has to turn it around and double his OOP on it, too. Get a reference to a diamond dealer and get him to give you an appraisal on it - not an insurance appraisal, but a retail one. Then try to find a private buyer. You might also approach Tiffany's and see what they say. If you have anyone in your life for whom you wish to buy something even better, they might credit you full price towards another purchase.
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