What To Do With "RingZilla" I Need Advice!

[onthespot]

I need to figure out what to do with this big 18K Ring. I don't wear jewelry, not even my wedding ring, and I don't collect things, and I want a Sovereign GT! With that being said, Should I scrap it for the gold value and try to sell the stone separate? Or do I put the ring on Ebay and see how much I could get for it?

You guy's are great on giving good advice, So lets hear it!

 

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[lost items recovery]

If you ebay it, put a reserve price for the weight of gold plus the stone's value so you don't get beat! Take it to a jewelry shop for the value of the stone to be safe. Sold a nice ring on ebay for more then it's weight in gold but cut my own throat on the diamonds. Pretty stupid but live end learn. The down side is ebay gets 9 percent of your sales profit and then paypal holds your money until buyer gives good feedback! Maybe your better off selling it to a high end jewler. Sharing this info so others can learn from my mistake instead of their own!!! Good luck!

 

[onthespot]

Thanks for the input, that why I posted the question! To get a appraisal, I need to ship it to the states. I need a appraisal in English. What is the demand for a single stone, has any of you guys tried selling the stone you get back from the refinery?

 

[echodog]

Send it to a trusted jeweler and get the appraisal if you want to sell the gold for scrap the jeweler will pull the stone for a small fee. If he try's to buy it get a second opinion on the stone could be a very clean one. There is a very good market for loose diamonds especially large/clean ones.
I would never send a ring to a scrap place with a stone still in it... You may get back a CZ! Who knows

 

[Hag730]

From my personal experience, a lot of people buying rings on ebay are trying to get the ring for less than what the value in scrap is so they can turn around and make a few bucks. I've run into the same thing on craigslist. I have sold a couple rings to jewelers also, but didn’t make much more than the gold value. As LIR pointed out....ebay takes a big chunk of your profit in commission now....especially on high dollar items since its a percentage of the sale.

You have a very unique ring, you may have better luck if your patient. If you have no interest in keeping it and you want the money, have it scraped and keep the stone.....have it put into something nice for the wife or future wife.

 

[cudamark]

It may be a little late now since you've posted photos of the ring but, When first found, I would have post it (without photo) on Craig's list or similar, in the lost and found section. I many cases, the owner who lost it will give you a reward for it's return that is much more than the melt value.

 

[Bobbypins]

If you want to add some credibility to your stone, send it to an gemologist like GIA who will verify authenticity for a mere $64 or so. This might get you a larger premium when you sell a loose stone, but who knows. There's costs involved with all the shipping and tests, which could offset any increase in value. But at a minimum it would give a buyer a better feeling knowing that they're buying a genuine stone.

Fees

The gold can be scrapped at a refiner, and most stones I've pulled from jewelry were pretty easy to do on my own.

 

[DewGuru]

Diamonds are a false market. In most cases, stones less than a carat are worth very little. Based on the photo you showed, the diamond is quite small. $23 wholesale will buy quite a few stones like it. Your value in that ring will be in melt alone.

 

[tnt-k9]

Put the stone into a setting that the wife will like and scrap the gold. Just my opinion. Unless it was a brand name ticket like T&Co, David Yurman or Bulgari selling it on ebay or craigslist will get you less than scrap. Good luck.

 

[TreasurDiggrNY]

+1 for taking out the stones and scrapping the gold by itself OR you can reach out to an independent detector dealer and make a trade deal. Good luck,
TDNY

 

[onthespot]

Thanks for the link Nate!!!

Dew, I spoke with a family friend last night who is a big diamond broker in Florida. I will be shipping the stone to them. He said that if it was a decent quality stone, he could get me anywhere from $300-$400 for it (He will buy). My stone is a .43 carat, but I don't know the quality. He said in the future, not to send him anything less than .50 Carat. Bobbypins weighed the ring and it is 19.5 grams, my scale is a 1/2 gram heavy. So going by the Dendritics Calculator, the melt value is $800. So by parting it out, I should be anywhere from $1,000-$1,200. That's a new Sovereign!!!!!!

tnt... I'm lucky, my wife is not into jewelry either, so she is not interested in RingZilla, BUT she did stake claim to the 24K Okinawan ring. She wants to keep it so she has something to hand down to my son's wife after he Married . He is Japanese, we adopted him 7 years ago, and she like the idea that it is a Japanese antique!

 

[Atlas]

Looks like you have the ring taken care off. Some people will get a table at a flea market/swap meet if they have enough finds and sell their jewlery that way.

 

[Sir Gala Clad]

You probably can get a better price for RingZilla where you are, especially if it comes with a good story.

I definitely would take the stone out, before sending it out to be melted down.

As gold is a hard currency there is no reason to sell it as long as gold is going up. I would time the sale/melt down of this ring with the spot price of gold. Currently gold is only selling at $1,629.30 per troy ounce, it's recent high is $1,740 per troy ounce.

You can determine the spot price of gold by multiplying the current share price of the GLD Exchange Traded Fund (ETF) times 100.