Selling an engagement ring

[William Cannon]

A friend of mine has her old engagement ring (she's divorced) so she wants to sell it. How do you go about doing such a thing to make sure you get fair market value? Where do you take it? This thing is NOT cheap - it's got a good rock on it.

 

[DCLonghorn]

She's suppose to give it back to the guy.

 

[crayon1973]

what city is she in?

 

[WhoseHouse]

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[TxStHorn]

Actually, (at least last time I checked) Texas court decisions are still divided on the issue, so there's no hard and fast rule.

 

[Statalyzer]

She ought to give it back to the guy at any rate.

 

[Tyler Durden]

She's already divorced. Did he give her back his ring? Doubtful. Also, it was almost certainly awarded to her in the divorce.

 

[MilkmanDan]

She should sell it to utexas_61.

 

[CleverNickname]

everyday there are craigslist ads in the jewelry section for this stuff. Most people post a short version of their tale of woe. I read them everyday.

 

[McLovin]

My ex sold mine for about a quarter of what it was worth. I think I'm angrier about that than anything else.

The rule of thumb is broken engagement - return the ring; divorce - wife can keep it. But it gets counted as an asset.

 

[mayberryrfd]

My friend divorced and turned her rock into a really pretty pendant.

 

[William Cannon]

Crayon, PM sent...

Others, don't worry about why she didn't give it back to the guy. That's not an option (nor should it be in her case)

 

[wild_turkey]

Just make sure she doesn't end up back with the guy. I have a friend who's parents got divorced and then ended up getting married again 5 years down the road. The wife had sold her ring, which was a pretty expensive rock and the husband was kinda pissed about it.

 

[hullabelew]

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[ballrific]

cut her finger off, w or w/o ring?

 

[utexas_61]

 

[MilkmanDan]

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[William Cannon]

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[speaksoftly]

OUCH! i think one thing she will find is that there is a VAST difference between what she paid ("market value") and what jewelry sells for, even with the rock.

jewelry can be had for as little as 10% of what the "market value" is. my wedding piece was a very popular piece, and i acquired it for 17% of what "market" is on it.

i hope she finds a happy ending!

 

[crayon1973]

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[speaksoftly]

"Market" is whatever someone will pay for it. Therefore, if people are buying at at whatever price you paid, that makes it market.
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very true. but how frequently do people sell for what they purchased for? excluding extremely high carat pieces set by the most select of designer names?

unless the person's ex husband is one of a handful of names in america, my guess is the piece will not "market" at near the purchase price (which also was market).

 

[BigOHorn]

Tell her to keep the ring and get something else made..problem solved....

Now, let's get to the important questions....
Is she single? Kids? How long she been big D'ed?
Oh and most importantly can she wakeboard?