Considering selling my ring

[YadaYadaYada]

Hi all,

After some recent conversations with my husband about our financial situation I'm considering selling my upgraded engagement ring that I got for our ten year anniversary. I bought this ring pre-loved and have only had it a couple of months but we are worse off than I realized and so I have to consider this possibility. I've attached an appraisal by an independent appraiser I had done when I got the ring in January. I do not have the original GIA paperwork but I do have the report # to the stone. If I sell it I would either sell it here or privately myself. It's just a thought but I'm seriously considering so if anyone can take a look at the appraisal and let me know I would greatly appreciate it.

Thanks!

GIA report:

http://www.gia.edu/cs/Satellite?reportno=6107852235&childpagename=GIA%2FPage%2FReportCheck&pagename=GIA%2FDispatcher&c=Page&cid=1355954554547

 

[YadaYadaYada]

Just to clarify I'm looking to see what I could possibly sell it for. I didn't really state that in my post!

 

[kenny]

Call GIA to get a replacement for a lost report.

A GIA report would be important to a sale.

 

[MissGotRocks]

I don't know how much you actually paid for the ring but selling it would probably net you quite a loss on your investment. Frankly, I think I would look at your budget in terms of cutting costs there instead to have more money to pay down your debt. You might be surprised at all the ways you can save money in terms of cable, electric and food costs. Keep spending to only things that are absolutely necessary and I think you would be surprised at the amount of money you will find to pay on your debt.

 

[YadaYadaYada]

I don't know how much you actually paid for the ring but selling it would probably net you quite a loss on your investment. Frankly, I think I would look at your budget in terms of cutting costs there instead to have more money to pay down your debt. You might be surprised at all the ways you can save money in terms of cable, electric and food costs. Keep spending to only things that are absolutely necessary and I think you would be surprised at the amount of money you will find to pay on your debt.

I paid $4500 for the ring and wedding (band which I would be keeping). We are definitely looking at cutting costs in our budget and I'm not totally determined to sell but if I can get even close to what I paid it will be a definite possibility.

 

[MissGotRocks]

You can always try to list it and see what type of feedback you get. You have to ask yourself though 1) how much you love it and 2) how much would you have to pay to buy another somewhere down the line if you chose to do that? The other considerations might be if the cost of this ring is part of your debt and how significant a difference would the sale of the ring make in your overall debt picture. If you are 5k in debt and sold this for 4k, it would make a sizeable difference. If you are 20k in debt and sold this for 4k, it would take some of the bite out but wouldn't make you debt free. Just a lot to weigh when thinking of selling an item like this!

 

[diamondseeker2006]

Here's a diamond that is pretty close:

http://www.jamesallen.com/loose-diamonds/princess-cut/1.00-carat-g-color-vvs2-clarity-sku-860385

Used settings are not worth a lot. Just remember appraisals like that are usually very inflated. The price you paid isn't bad, though.

 

[Laila619]

I think selling, based on your other thread, is a smart decision. DH and I are not in debt, but I sold a lot of my jewelry because we have four kids to put through college, three of whom will be going at the same time.

If you do decide to sell, there will hopefully be plenty of time for rings down the road, when financial situations are more stable. Good luck!!

 

[YadaYadaYada]

Call GIA to get a replacement for a lost report.

A GIA report would be important to a sale.[/quote

Thanks Kenny. Any idea what a replacement report will cost? The appraiser offered to help me in getting it but it sounds like it would be easy enough to get it myself.

 

[GCGDanielle]

Any idea what a replacement report will cost? The appraiser offered to help me in getting it but it sounds like it would be easy enough to get it myself.

I'm not Kenny, but I found this on the GIA website:

We no longer offer duplicate reports. If you have the report number and would still like to view the information on your report, you are able to view the report data through Report Check. If your report is dated after July 1, 2010, a PDF version of the report is also available to view or download.

 

[rocks]

GIA will no longer issue a replacement report.

 

[rocks]

It looks like your stone isn't inscribed. You could have the stone removed from the mounting and submit it to gia for grading. The only risk is that you may get a lower grade (or higher) if the stone was on the cusp of a color or clarity grade. Cost is listed on their website.