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I've got a ring, keep it?

Posted by on Jan. 1, 2014 at 6:03 PM
  • 6 Replies

My mother died 10 years ago and I got her rings. As an only child I also received some of my father's things my mother had kept. When I got sick I decided now would be a good time to divi up the stuff so each of my kids would get what I wanted them to have. I gave my son my father's wedding band, his watch, and dads money clip. My son really seemed to appriciate having my dads stuff as they were close buddies when my son was small.                           I gave my mid DD my mother's wedding band. She originally wanted the whole set but I didn't feel right giving her both rings knowing what they are worth and not one to my youngest DD. As I went through some other stuff I divied up some other items that would be of value and have it aside for youngest DD.                    So I still have my mother's engagement ring. I had it fixed, and apprased.  WOW. Now I need to come up with $6100.00 to pay back taxes to save my house. A local pond shop offered me $4000. I called some local Jewlery stores but they don't want to give me cash, they want to give me credit so I can pick up something else. Not gonna solve my problem... I was told that the local pond shop would offer me a crap price considering what the apprasal says the ring is worth. So how does someone find a reputable place to get a better offer on the ring? The apprasal for this ring is more than twice what I need to save my house. By the way, I put money down on this house with the cash my mother left me when she died. This was supposed to be my smart investment. If I lose my house I feel like I will have lost everything my parents worked for, I feel like I am selling my soul if I sell the ring but I think I have come to terms with selling it to save the house if I could find someone who would pay a decent price. I don't expect to get what the apprasal says but I don't want to get ripped off either. Suggestions from anyone would be great. Please chime in.

by on Jan. 1, 2014 at 6:03 PM
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Replies (1-6):
StephanieDpls3
by Member on Jan. 1, 2014 at 6:21 PM
Can you sell something else along with the ring? Maybe another piece of jewelry? Do you qualify for a loan?
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Joanie364
by Member on Jan. 1, 2014 at 8:12 PM

I have the ring and my house. That's all I have left. The other jewelry is not here with me. I gave it to someone who will give DD the stuff when I pass away. Not worth what the ring is worth, not even close. A loan, might be hard to get since my income is disability. Thanks for the suggestion. Have you ever sold jewelry somewhere other than a pond shop?

NDADanceMom
by on Jan. 1, 2014 at 8:18 PM
3 moms liked this

PAWN shop


BoopBettyBoop
by Member on Jan. 1, 2014 at 9:13 PM

I'm not sure where you would go, but I wouldn't sell to a pawn shop, they are only looking out for themselves seeing that they will sell the ring and have to make a profit themselves.  They won't give you anywhere what it is worth.  Did the appraiser give you any ideas as to where you could go?

MommynMonster
by Platinum Member on Jan. 1, 2014 at 9:29 PM
1 mom liked this
I wouldn't give anything to a pond shop, that's fishy business
crwspringer
by Platinum Member on Jan. 1, 2014 at 9:36 PM
All jewelry (fine) "appraises" for much higher than the actual value. Appraisals are for insurance replacement.
For example, the appraisal on my engagement ring is 2x what we paid for it. They are highly "fluffed" numbers.

I don't know where you live but in large cities you usually can find a "jewelers row" kind of area. Literally dozens of jewelers will be in one building. Lots of them will buy certified stones and pay for the gold or platinum.
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