To sell my nans ring(passed on to me) to fund a much needed holiday?

[happyandsingle]

Basically this.Have an old diamond ring passed down from my mum it was originally my nans.
Have worn it for years but basically it only fits on one finger(that I think is meant to be the engagement finger or so I've been told) and I am most definitely single!.
It's a nice ring but my dilemma is I'm desperate for a holiday abroad next year for me and my dd.
It's been a shit couple of years and I've had one holiday in ten years paid for by my mum.
I could save but basically on my budget it would be very tight and would mean sacrificing a lot.
My idea was to pawn the ring to get the money for the holiday. I would probably feel guilty but on the other hand I'm sure if my nan was alive she would want me to make the most of it.
My AIBU is do you feel it's a bad thing to do as it was passed down to me? And will I feel guilty after?

I think you should be prepared to be sorely disappointed about the value. A pawn shop will pay around 5% of the value and you won’t get much more for it selling it second hand, maybe a couple of hundred maximum, unless it’s an exceptional stone.

I'd be happy with 500 that would pay half of the holiday I want to book

I doubt you’ll get as much as your expecting for it tbh.

I don’t think I could pawn or sell something that my Nan and Mum had held on to all this time, for a holiday.

Just get it valued then you can decide whether it’s worth selling at that price.

If you did get a decent amount I wouldn’t think twice, sell it and enjoy yourself!

But I think you’ll be disappointed. Without fail, 100% of the times I’ve known friends get ‘family heirloom’ rings and jewellery valued, they’ve expected about five to ten times more than it ended up being actually worth. You have no idea of the value until you get it assessed by someone who knows what they’re doing, and it having diamonds in doesn’t mean much in itself. It’s only worth what someone is willing to pay you for it.

I wouldn’t do it either. Sadly the resale value of jewellery is a fraction of the cost of new - unless it’s a name like Tiffany or Cartier, you basically just get the scrap value of the gold plus an amount for the stones.

If it’s a good ring, you might get more selling at auction but seller’s fees are c. 20%

To those saying pass it to your daughter - it's how I ended up with 5 different engagement rings that I'd never wear. I didn't keep any of them, what I did keep was a set of truly beautiful moonstone rings by a well known designer given to a relative that also passed to me (as well as some other stuff that my daughter will get to choose from).

Not only would I turn in my grave but I'd haunt you til kingdom come or whatever heavenly reference if you pulled that shit with something I'd passed on as a family heirloom. I'd also have a word with the big guy to ensure you didn't get into heaven.

I would definitely not sell it. Keep it for your daughter absolutely. You will regret it I think. It's such a fabulous thing to have a link with past in this way.

You would be mad to pawn it.

Why don't you at least get an estimate and go from there?

Trip of a lifetime for at least 3 weeks? Yes, life is too short.

A couple of £100? I'd keep it and do some overtime to get the same amount frankly. If you are that short of money, I'd be looking at my finances first!

Get an estimate. no one needs to be a jewellery expert to know that some things cost a fortune to purchase, but get you next to nothing when you try to sell them.

Is your mum still alive? It’s not clear to me whether you inherited the ring fr on your mother, or was given it. Whereas I usually think “once given” etc, in this case if your is still alive and likely to be upset by you selling, I wouldn’t.

Otherwise, yes I’d sell - but agree with PPs that you should get a price before your expectations run away with you.

Personally I wouldn't sell it, keep it for your daughter.

it's how I ended up with 5 different engagement rings that I'd never wear.

you can reset the stones though

@happyandsingle

I would never sell the ring, unless I could get a mid 5-figures kind of price, like 40 to 60 thousand. If it was less than 5 (like only 4 or 5 grand or less,) then no way.

Not worth it.

Your holiday will be gone in a flash, and the sentimental irreplaceable item will be gone forever.

It's such a small band it wouldn't even fit my daughter and barely fits me. But for the sake of sentiment I should just hold onto it to look at.If u hadn't had a break in years and was at breaking point perhaps you would feel different.

To all those saying pass it onto your daughter: to be really blunt, I don’t think most people feel much sentimental attachment to items from relatives they didn’t really know and weren’t close to tbh. It’s just passing it on to be someone else’s problem later on lol. Chances are her daughter would be on a forum in a couple decades time asking whether she should feel guilty about flogging it for a car

Well I disagree w most people here! Unless YOU wear it, it’ll mean little to yr DD. Heirlooms aren’t always lovely - they can be burdensome too. Get it valued and if you can get enough for it, then sell it and have a wonderful time. I don't think you or your DD will regret it at all, from what you’ve said.

@StayClassySally

Not only would I turn in my grave but I'd haunt you til kingdom come or whatever heavenly reference if you pulled that shit with something I'd passed on as a family heirloom. I'd also have a word with the big guy to ensure you didn't get into heaven.

Bit harsh!

It's such a small band it wouldn't even fit my daughter and barely fits me. But for the sake of sentiment I should just hold onto it to look at.If u hadn't had a break in years and was at breaking point perhaps you would feel different.

Huh? So you’re saying you should hold onto it for sentimental reasons... but also that if someone else was at breaking point they’d feel differently? Did you mean to NC and post as someone else cos I can’t understand your point here OP?

Maybe get it valued and then you can make an informed decision.

I'm not sure about the value - my engagement ring was 2k and that was second hand. Get it valued by a proper antique jewellers - you should have it valued and insured anyway if you do decide to keep it.

I personally wouldn't sell it - with family heirlooms you don't really own it, you're just the temporary caretaker really. It belongs to your daughter as much as you. In dire straits yes of course, but not for a holiday.

I'm surprised at the responses. if you can get an acceptable price for it then go for it. memories of a lovely well needed holiday beat a ring gathering dust in a box.

Get it valued first, then you know if you can do anything with it. My parents were given some silver ornaments by my Nan, when I was a kid. They were beyond ugly and sat in a cupboard doing nothing. My parents were doing ok but very much living month to month. Mum got them valued for the house insurance and they were worth about £2k! Tons of money in 1986, so she sold them and we went to Disney. You know what I’d far rather have the memories of that holiday with my parents than I would own those ugly silver ornaments.

If you hold no sentimental value to it whatsoever (the fact that it was your nan's and then that your own mum wanted you to have it) and are willing to sell it to pay for half a £1k holiday (so presumably not even a trip of a lifetime) then I don't think you really want our opinion and you have already made up your mind.