questionshow would you go about selling a wedding ring?

vote-for20vote-against
vote-for12vote-against

Expect to get about 1/10 of the "appraised value". In all reality, people generally do not buy used engagement/wedding bands for anything close to retail or appraised prices. If the diamond is large enough, it could be possible to sell the stone and scrap the gold. This may get you up to 1/5 of the appraised value.

vote-for6vote-against

Throw it in the Salvation Army kettle.

vote-for9vote-against

She could take it to a jeweler and have it broken down and remade into something new, if the money isn't any issue.

vote-for7vote-against

You could also take it to a Gold & Jewelry Exchange or something. They usually melt it down (gold) and unset the stones for new jewelry. They only pay on what the material is worth, not design.

vote-for5vote-against

Can she go back to where it was purchased? As the PP have stated there is no way she will get what it was appraised for, but they should do more for you then a stranger....I would hope.

vote-for9vote-against

1. Remove the stone(s) and have it(them) made into a pendant or something else.
2. Sell the gold to a reputable gold extractor place. Not anything with cash4gold anywhere in the name, and not a jeweler.

Actual gold value will be about 50% of item weight * current market price per ounce (for 14k, more for purer gold.)

related: http://abcnews.go.com/Business/10-tips-selling-gold-cash/story?id=14356892

j5 j5
vote-for5vote-against

I've sold jewelry on CL. Pulled about 30% of "appraised" price out of it. But it did invite some scammers and it took me a little bit to weed out the crap, and meet a buyer in public. That is a way to go, but remember that you're meeting a total stranger, who knows you have valuables on you - so pick your meet wisely.

It may be more worth her time to follow the above advice and avoid CL, up to her.

vote-for4vote-against

Go through your jewelry box and take gold pieces you don't wear and your rings and have something new made. A lot of stores have designers and you can make your own unique piece.

vote-for7vote-against

@j5 and @maggie3052 have the best suggestion. Your friend will really not get enough from the ring to make it worth selling. Instead, have the stone reset into a right-hand ring that she can enjoy as being [cough] totally separate from that rat-b.s.t.r.d and his rotten self. For that matter, help her gloat over being able to recycle it into something she designed herself that has a special meaning for her. A shining star symbolizing her own unique strengths, for instance.

On the other hand, if she doesn't need the money and just wants to get rid of the thing, have her get in touch with me.

vote-for4vote-against

@j5 Reusing the stone is a great option I hadn't considered. This will probably be my recommendation when I see her next.

Thanks all, you have been a great help!

vote-for2vote-against

Do not rip the ring apart like others mentioned as cash for gold places will tear you a new one. Consider this, almost everything appraises for more than it retails for. Do what I did, I put an ad on Craigslist for a $2000 Diamond ring and paid 2000 in cash and got a jeep that they were asking 5k for. Trading with cash locally for other things you want is not a bad idea.

Otherwise I will buy it from you for $200 good luck getting anymore than that from a Cash 4 Gold Extraordinaire.

vote-for2vote-against

@j5: In order to calculate scrap price there are specific ,multipliers to the different karat weights for price per gram. For example, let's say gold is 53.00 a gram at spot price.
10k- .417 =22.10/gram
14k- .5833= 30.91/gram
18k- .750=39.75/gram

Oh, and most gold buyers try to get you to take a third of the above values for gram weight. Goldprice.org and Kitco.com both have price per gram based on the Troy ounce.

vote-for1vote-against

@newgen87: I did say "about" as I wasn't going to do the math for ounces-troy ounces-karat weight as a percent of 24, but points to you for doing so. :)
Also, I did say "no cash4gold, no jewelers" as there are reputable gold buyers.
One quote I heard "American jewelry is finally worth what you paid for it 20 years ago"
(Foreign market gold jewelry is usually 24k)

j5 j5
vote-for1vote-against

@j5: Really? 24k gold is pure gold with no alloy at all. It's relatively soft, damages easily, and is virtually never used for jewelery. Even 22k gold is fairly soft and can be damaged during wear.