Selling an expensive diamond ring - HOW??? - HotUKDeals
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Selling an expensive diamond ring - HOW???

TheIslander Avatar
6y, 4m agoPosted 6 years, 4 months ago
Help needed please? My mother in law was left a very large ring containing 19 diamonds in a will recently. Although the ring is huge it is not something that she would wear so really wants to sell it. She has tried jewellers and pawn brokers down her local high street but they will only give her £400 but she has had the ring valued and is worth well over £1000. She is on the verge of putting it on ebay but I really don't like that idea. Anyone any offers on how else she can sell the ring to get a better deal? Thank you.
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TheIslander Avatar
6y, 4m agoPosted 6 years, 4 months ago
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banned 1 Like #1
On here.
1 Like #2
Have a word with your local auction house see what they estimate its value, you can always place a reserve but don't forget if it has a retail value of £1000 then £400 is probably correct as the trade price.
1 Like #3
I'd try an auction house
#4
no sentimental value then,,,
#5
when you say " valued at worth well over £1000" what was it valued at?
1 Like #6
Reputable antique dealer-get 2 or 3 valuations-dont take it anywhere near a jeweller they will rob you.

Auction houses are all very well but remember you pay vat and a percentage to them so maybe not worth it.

The non sentimental jewellery my mother left went to a reputable dealer and we got very good prices.
#7
Like above, get it valued by 3 or more proper antique dealers, when you have the right price you know it's worth stick it in a decent auction with a reserve that covers commision and the price of the ring (so if it sells you get its value), if it doesn't sell I'm not sure if certain auctioneers charge but if they do It can't be much.

Then after that I guess you could try and sell it to whoever sticks in the highest price.
#8
Problem with Dealers is that they normally price things are what they want to buy it for also, so don't go in there asking to sell it, ask them what it's worth as you'd like to know instead as it's been in the family for a long time etc. but if they give you it's value in cash then go for it.
1 Like #9
Valuations given by jewellers are based upon how much it would cost them to make the item again in the event of theft etc, it is an insurance valuation. It has no bearing on how much it can sell for at all. In this situation the ring is only worth how much somebody is willing to pay for it.

As advised go to several dealers, whether it be jewellers or antiques dealers, but DO NOT use high street shops. Use independant dealers who will always give a best price. Failing that sell at auction but obviously a reserve needs to be in place to ensure the ring will not sell for less than your MIL wants to receive.
suspended#10
If u can get to or are close to the jewellery quarter u could always try there as loads of individual shops
#11
Thank you for all your suggestions. I'll pass them onto my mother-in-law. I can always rely on you lot for help :)

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