selling engagement ring

[Anonymous]

I bought an engagement ring of 2.1 Carat VS1 natural diamond solitaire from Costco and need to sell it. I paid $23K for it and have receipt, GIA certificate and all the other documents. Tried Costco for return and they are not taking it back since it is close to 2 years. Is there any other place I could try to get the best $s in re-sale. I know I would be losing some money on it but still want to recover as much out as possible.

[Anonymous]

Bummer! I’m sorry. There are a bunch of legit diamond forums (trying to remember the name, will come back if I do) where you could get advice. There are also online auction houses (I like Grogan & Co) but you’d lose on the commission. You may be taking a hit on this one.

[Anonymous]

As long as you have all of the paperwork they will take it back. Go to a different Costco:

https://customerservice.costco.com/app/answers/detail/a_id/1191/~/what-is-costcos-return-policy%3F

[Anonymous]

Are you a man, OP?

Do you plan to try again?

I'd keep the diamond and have it reset to the taste of the next potential wife.

Think of it as a gift you purchased for your potential wife. Since A didn't end up being that person, you can offer it to B in the setting style they like.

You might also be able to "trade it in" at a new jeweler if you are buying a different ring.

[Anonymous]

My friend had one like that. Retail stores often have a 300 percent mark up. In the end he decided to put it in his safe deposit box. Around 5 years later when he got engaged again he hired a gemologist. Yes that is a profession. He went down to Chinatown in NY Diamond district with her. She negoiated a swap for an equally (actually a better ring) that was exactly what his finance wanted and no stigma of giving old ring. I think he paid her like $250 bucks.
dont cheap out on hiring a gemologist. You might swap for crap or even if you plan on sell.

NYC is best as Chinatown and Midtown diamond districts. The girl can go to several places on same day with you to get best deal.

https://www.gia.edu/gem-education/program-graduate-gemologist

[Anonymous]

My friend had one like that. Retail stores often have a 300 percent mark up. In the end he decided to put it in his safe deposit box. Around 5 years later when he got engaged again he hired a gemologist. Yes that is a profession. He went down to Chinatown in NY Diamond district with her. She negoiated a swap for an equally (actually a better ring) that was exactly what his finance wanted and no stigma of giving old ring. I think he paid her like $250 bucks.
dont cheap out on hiring a gemologist. You might swap for crap or even if you plan on sell.

NYC is best as Chinatown and Midtown diamond districts. The girl can go to several places on same day with you to get best deal.

https://www.gia.edu/gem-education/program-graduate-gemologist

[Anonymous]

Op here. Yes, I am a man and expecting to take a hit on this one for sure. My ex wore it for a few months before we broke up and I am just trying to get rid of it to give myself a mental clean break and start new if a new partner comes up in the future.

I checked at a lot of places before buying and Costco was the most reasonable. I sent it to their online office via Fedex and they kept it for 2 weeks and checked everything but refuse to take it back. Sigh!

[Anonymous]

Op, women use to have "hope chests". This is similar. I would put it in a safe. deposit box and have it for the future. Think of it as you being optimistic about your married future.

[Anonymous]

Anonymous wrote:Op, women use to have "hope chests". This is similar. I would put it in a safe. deposit box and have it for the future. Think of it as you being optimistic about your married future.

his future wife will not want to wear a ring he bought for someone else though. i do agree, op needs a clean break

[Anonymous]

Anonymous wrote:Are you a man, OP?

Do you plan to try again?

I'd keep the diamond and have it reset to the taste of the next potential wife.

Think of it as a gift you purchased for your potential wife. Since A didn't end up being that person, you can offer it to B in the setting style they like.

You might also be able to "trade it in" at a new jeweler if you are buying a different ring.

OP, your future girlfriend would hate this. Awful!

[Anonymous]

I say Costco prices are very reasonable and they still charge a good profit but nothing like Kay jewelers or Jared. I say he would be able to get 50% of his cost back.

[Anonymous]

Diamonds don’t hold a lot of value and with the proliferation of lab diamonds, it’s pretty bleak out there in terms of resell value. Your best bet is selling it yourself on eBay or Facebook marketplace, or to a friend or acquaintance. You’ll be lucky to get 50% of its value. Good luck!

[Anonymous]

Anonymous wrote:

Anonymous wrote:Are you a man, OP?

Do you plan to try again?

I'd keep the diamond and have it reset to the taste of the next potential wife.

Think of it as a gift you purchased for your potential wife. Since A didn't end up being that person, you can offer it to B in the setting style they like.

You might also be able to "trade it in" at a new jeweler if you are buying a different ring.

OP, your future girlfriend would hate this. Awful!

PP. I'm a woman and I don't think it's awful. It's a rock that was underground for millions of years. If it's just a 2 carat VS1 circle there's not going to be any real meaningful difference between two different round solitaires.

I said to get a new setting.

Do you think Kate Middleton feels sad about wearing Diana's engagement ring when Charles apparently didn't even love Diana and made his AP the Queen of England?

It's all in the mind of the gift giver.

I don't recommend giving a marquise cut to an emerald cut lover, though. And a new setting is important because bands get scuffed

Trade-in sounds even better. Maybe get the next one an even bigger rock. That would make someone like the above poster happy that they got an even bigger rock.

[Anonymous]

Lab diamond has not much value but the natural ones does. The natural diamond has an index and easily trades on it with the grades and cut you have. Lab grown diamonds are mass produced and very soon their value would be equal to mossainate.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Are you a man, OP?

Do you plan to try again?

I'd keep the diamond and have it reset to the taste of the next potential wife.

Think of it as a gift you purchased for your potential wife. Since A didn't end up being that person, you can offer it to B in the setting style they like.

You might also be able to "trade it in" at a new jeweler if you are buying a different ring.

OP, your future girlfriend would hate this. Awful!

PP. I'm a woman and I don't think it's awful. It's a rock that was underground for millions of years. If it's just a 2 carat VS1 circle there's not going to be any real meaningful difference between two different round solitaires.

I said to get a new setting.

Do you think Kate Middleton feels sad about wearing Diana's engagement ring when Charles apparently didn't even love Diana and made his AP the Queen of England?

It's all in the mind of the gift giver.

I don't recommend giving a marquise cut to an emerald cut lover, though. And a new setting is important because bands get scuffed

Trade-in sounds even better. Maybe get the next one an even bigger rock. That would make someone like the above poster happy that they got an even bigger rock.

NP: This is Kate Middleton’s deceased mother in law’s ring not her husband’s first wife’s ring. And she married into a family where jewels are historical heirlooms kept in guarded museums and reworn for centuries. Even in a family like that, Camilla doesn’t wear Diana’s engagement ring.

Terrible analogy.