5 replies to this topic

[SadWidower]

My friends, my wife passed away from cancer. I would like to sell her wedding rings, and use the money to pay for hospital bills, and cancer research.

I went to Tiffany & Co. for advice here in Denver at the Cherry Creek Mall. Honestly, they looked at me like I was an idiot, even though I had spent about $20K with them for these rings. Apparently they are REAL good at selling, not so interested in what happens afterward -- if you are not buying.

I do not know what to do. Can you help?


Here are the details:

Engagement ring:

Tiffany Setting in platinum

Shape and Cut: Round Brilliant
Measurements: 6.54x6.56x4.12mm
Weight: 1.09 carats
Proportions:
Depth percentage: 62.9%
Table Diameter percentage: 58%
Girdle Thickness: Medium
Culet Size: Very small
Finish:
Polish: Very Good
Symmetry: Good
Clarity Grade: VS1
Color Grade: H
Ultraviolet flourescence: None


Wedding band:

Channel-set band ring, full-circle. Round brilliant diamonds, carat total weight .72 (size 4), color grade G, clarity grade VS; platinum. 3mm.


I believe they are in perfect condition, I have all the documentation, ring boxes, etc... of course, I have my platinum band too.

By the way, I am 41, and my wife only lived to be 40. Cancer can affect anyone. Please give generously to your local cancer society. Thank you from my heart.

[1524]

That is a terrible thing to have to go through, sorry for your loss.

As for the rings, you might want to list them in the Jewelry Classifieds section of this forum.

[hermann]

This is terrible, my condolescences for your loss.

I have moved your post to the Jewelry Classifieds section to ensure that more people read your message.

[SadWidower]

can someone please take this post down.

i was looking for advice, this is not the text i wanted to use to make the sale.

thanks, G.

[hermann]

Sorry for the misunderstanding, I moved it back "The rock" which is where you originally posted. If you want the entire thread deleted pls send me a personal message.

[denverappraiser]

I’m terribly sorry to hear of your problem.

Reselling jewelry is a problem for everyone. Although Tiffany charges a premium, you can rarely get a significant amount of that premium when you resell as a private party. There are several approaches that you can take.

The way to get the most money is to find a private consumer who is looking for an item like what you have, is otherwise considering buying it from Tiffs because they like the brand name and are resistant because they are put off by the price. This is, obviously, a bit difficult to arrange but it’s possible. There is stiff competition in selling to these folks. Put advertising in places where people are likely to look for a ‘discount’ Tiffany item. This can be sites like this one, ebay, newspaper advertising etc.

The next highest level usually comes from consignment shops. There are quite a few retailers who will take things on consignment, sell them and collect a commission for their contribution. Pick a store that’s fairly high end and that seems to have skills at this sort of thing. Not all stores are equally skilled at selling the same sorts of merchandise. The downside of this is that it can take a while before you get your money and it puts you into a medium to long-term relationship with the store, which you may not want.

The bottom price is to sell it to a dealer. They will then resell it through their usual channels, make a few bucks and everyone goes away happy. The problem here is the price and the benefit is the speed. You get your money and go on your way very quickly.

The decision between these approaches will boil down to your temperament for this sort of thing, your need for speed and your need for the money. Unfortunately, these aren’t really jewelry questions.

Most jewelers, not just Tiffany, won’t buy back what they sell. It causes too much trouble for them when they explain the difference in prices.

Neil Beaty
GG(GIA) ISA NAJA