Trying to sell my diamond

[Campbti]

I want to sell my engagment ring, yeah same ole story of love gone wrong. But anywho. I have an EGL cert, but don''t begin to know what to ask for it. My ex-fiance bought it from a dealer somewhere so I can''t seek out the seller. I thought about listing on Ebay but have heard that you don''t get very good values there. I want to use the money as part of a down-payment on a house so I want to get the most I can.

Thanks to anyone with suggestions.

C


Here is the info off the EGL cert:

Description: Natural Diamond
Weight: 2.43 Carats
Shape and Cut: Round Brilliant Cut
Measurements: 8.72 x 8.64 x 5.29 mm
Proportions: Excellent
Depth%: 60.9 %
Table diameter%: 57%
Crown height: 15%
Pavilion depth: 43%
Girdle thickness: Medium to SL. Thick Faceted
Finish Grade: Excellent
Purity: VS2
Color Grade: H
Photoluminesence: none
Commnets: ideal cut

 

[Sparkster]

I don''t know about selling it. I''ve always believed that the ring should be returned to the man if the event of a broken engagement (despite who was at fault)

 

[FireGoddess]

Date: 4/12/2005 8:28:39 PM
Author: Sparkster
I don''t know about selling it. I''ve always believed that the ring should be returned to the man if the event of a broken engagement (despite who was at fault)

Interesting. I tend to disagree...

If the woman breaks it off, I think she should offer to return the ring. If the man breaks it off, then I think he has no right to demand it back. Whether she wants to return it should be up to her.

As for selling the ring, do you have any idea what the retail value of the stone is? Has it been appraised with a fair market value, or is it inflated?

 

[Kaleigh]

Selling a diamond can be very difficult. Do you know what he paid for it?? Don''t go by the appraised value as that is always inflated, mostly for insurance purposes. There have been many people that sell their engagement rings through the classifieds, Just be very careful. Hopefully others will chime in with other helpful advice. Good luck!!

 

[Dancing Fire]

Date: 4/12/2005 8:28:39 PM
Author: Sparkster
I don''t know about selling it. I''ve always believed that the ring should be returned to the man if the event of a broken engagement (despite who was at fault)

i agree, she should return it if the engagement is off.

 

[Kaleigh]

What does your ex-fiance think about you selling the ring he bought you?? Did he break it off, or did you??

 

[mrssalvo]

there was a recent thread about selling a diamond. here''s the link

 

[Campbti]

We broke it off. I kept the ring and he kept a ton of the furniture for the house that he now has. Believe me I didn''t cheat him in the least. I originally wanted to keep it but I want to buy a house more. so there you go. thanks for the advice though.

 

[fire&ice]

Date: 4/12/2005 8:34:57 PM
Author: FireGoddess

Date: 4/12/2005 8:28:39 PM
Author: Sparkster
I don''t know about selling it. I''ve always believed that the ring should be returned to the man if the event of a broken engagement (despite who was at fault)

Interesting. I tend to disagree...

If the woman breaks it off, I think she should offer to return the ring. If the man breaks it off, then I think he has no right to demand it back. Whether she wants to return it should be up to her.

As for selling the ring, do you have any idea what the retail value of the stone is? Has it been appraised with a fair market value, or is it inflated?

What is the right thing to do isn''t necessarily the law.

We had a heated thread about a year ago about this issue. It''s a State to State ruling on who really owns the e-ring. General consensus is that it is the property of the man until the wedding. Some exception could be argued that if it was given as a gift on a birthday then it''s a non revociable gift. I''m not an attorney - just passing along some banters from the thread about the e-ring ownership.

I think couples should try to work it out amoungst themselves; but, on occassion the courts have become involved.

Good luck selling the stone. It sounds like a saleable stone; but, unfortunately like a car, once it leaves the jeweler, it''s value on the secondary market diminishes. I would get the ring appraised by an independent appraiser who could give you better guidance on pricing.

 

[sylvesterii]

Fire&Ice is right, and I am not an attorney yet either, but actually wrote an extensive research paper on this exact subject. It seems that the general majority rule is that fault has been completely wiped out of consideration in regards to a broken engagement when it comes to the ring. It has to go back, since it was a conditional gift. once the marriage is consumated, the gift is complete. There are still some jurisdictions that will include a fault-based analysis, but they are becoming fewer and farther between. As for other gifts that may have been given in contemplation of marriage, they generally will be considered irrevocable.

Plus that is the rule that judge judy applies, and she is just about as important as Justice Rehnquist our O''Connor.

 

[AChiOAlumna]

I think the laws on this are also going to vary state-to-state. When my first engagement was broken, my ex-FI asked me to keep the ring. He even had it remounted for me as a pendant. I couldn''t continue wearing it though as my mother became upset for eveytime she saw it. I finally sold it when I became married (for good to another wonderful man!) and used the money for a kitchen table!

 

[sjz]

This is just my opinion, and not based on any laws that I''m aware of...but I think that the man should get the ring back, unless they mutually agree that the woman should keep it. Assuming that the man paid for the ring, and it was given with the intention that eventually she would become his wife. It doesn''t matter who broke the engagement IMO. I''ve heard stories about women who will intentionally string guys along to get the ring, then dump them and keep the ring. That seems so unfair, not to mention cruel! I''m not saying that happened in this case, but it does happen.

Divorce is a whole different matter. In the case of divorce, I think that the woman should be allowed to keep the ring if she wants it. After all, if she has children, she may wish to pass it along to one of them. Or she may want to keep it and have it reset. Or sell it. Or throw it off the Brooklyn Bridge. Whatever...

 

[baltneu]

I would agree with most about it being "conditional" and that it should go to the man, however........
they seemed to have traded assets to balance things out according to her second post. So giving the ring back or keeping it is moot. The question is how to sell it.

I have bought things on Ebay, not a diamond, and generally have had a good experience, but you must be careful. If you list on Ebay, and are concerned about not getting a good price, then you put a "Reserve" which is the minimum you will take, it if now does reach this amount, you have not sold, and the only cost is the listing fee, which is nominal compared to the price of the ring.

I think that your disadvantage selling on Ebay is that if it is your first item, or you have sold only a few, or have bought/sold items other than diamonds and jewelry, then you are at a disadvantage because poeple do not like to buy high ticket items from people who do not have lots of positive feedback and in the business. My 2 cents. Good luck.

 

[tanuki]

Assuming you have every right to keep it - why sell it when you know that you will only be able to resell it for a fraction of it''s value?

A stone of that size sounds like a great candidate to reset into a pendant.

It''s amazing how resetting the diamond represents a fresh start after the end of a relationship.

 

[AGBF]

The rule of etiquette is that the woman returns the engagement ring to the man if the engagement is broken. That rule was written in a different era from ours, however. Now a man may give a woman an engagement ring after they have lived together for 25 years in a house they bought together while both worked and where they raised their children! I hate to see the courts involved in something that used to be a non-contoversial custom, but I can see why they would now be involved. In the old days the courts used to become involved when a woman sued for breach of promise!

Deborah