Would you sell this ring??

[Pine Tree]

As someone said above, diamond rings have almost no resale value. It's actually one of the tragedies of the wedding racket -- people think a diamond ring is an investment, but it's not.

[jajacobsen]

Yes - exactly! The RETAIL value (which is what an appriassal would reflect) may actually be high - that is, what it would cost to purchase the ring new. However, if you take it to a few reputable second hand jewellers/pawn shops, you will soon learn that the RESALE value of a ring is very, very low. Even lower when selling independently, like through Craig's List. The poor economy has flooded the market, not that resale was ever high, it's just worse now.

Financially, the smartest thing is to hang on to it, unless you just cannot see yourself, or any of your children, ever wearing or resetting it.

[sea74]

I'm also very sorry for your loss

Even if the market for resale is low, I'd sell it and put that money into your retirement fund.

[countrymouse]

Thanks everyone! I'm in no hurry to do something with it, but I am leaning towards selling it. I just can't see hanging on to it for 20+ years or however long it will be until one of my kids' gets married. And by then, I'll likely have some of my mom's jewlery, which will have more sentimental meaning as far as passing it down.

As far as the resale value, I'm not too worried about it. I have the original paperwork so I know what it was appraised at, and what he paid for it, but I don't expect to get the same return. By putting that money into my retirement, I feel like I'm doing something that is for me, and will have a long term impact.. Instead of say, going on vacation with it or using it to pay bills.

Thanks again for all of your responses!

[looch]

I'd sell it, there's no way I could reset it so that wearing it wouldn't bring up memories for me. Even if you only get a small percentage of the value, it could still bring a lot of happiness for another couple.

[TLynn]

Even if you only get a small percentage of the value, it could still bring a lot of happiness for another couple.

This is a good way to look at it.

I too am in the "I'd sell it" camp, if nothing else because you've expressed that you're not sentimentally attached to it, and repurposing the stone is not of interest to you.

[akacharlotte]

I'm also in the I'd sell it camp.

[gardenmommy]

I'd sell it. Given your situation and the lack of sentimentality. And while I understand the resale would likely be much lower than what it appraised at I've never understood keeping valuable things that don't have sentimental value or the potential for a huge return. If you keep it and end up wanting to sell it in 20 years you still won't get much for it. At least selling it now and investing the $$ might grow to a better sum over the years.

[scout]

I would definitely sell it. I'm sorry for the loss you endured.

I don't think I would hang onto a ring on the off chance that one of my son's would want to give it to their fiancee. Rings are personal and your son's future fiancee might have different taste. I would invest most of the money and give a percentage to a charity close to my heart.

[countrymouse]

I'm fairly certain I'm going to sell it. It does have sentimental meaning to me, but since I'm not going to wear it or pass it down, what use is it sitting in a drawer? I'm just too practical to keep something valuable that isn't serving a purpose.

I'm just not sure the best way to go about selling it. Local jewler? Craigslist? I have all the original paperwork, but I have no idea who would give me the best price. It won't be a fortune, but I just want a fair price in today's market.

Thanks again everyone for your kind words and oppinions!