how do I go about selling my engagement ring?

[carocaro]

I have looked at a few online sites but not so keen on them, prefer the face to face approach.

Do I just go into a jewellers? What do I need to look/watch out for?

Anyone done this?

Does jewellery devalue over time or (please God) retain it's value?

I am only doing this as me and DH are desperado for cash to pay off mortgage arrears due to redundancy and I'd rather have a roof over our heads than a ring on my finger!

Go to a few good jewellers for valuations and possible sale rather than using online sites. Gold and diamonds tend to retain their value because they are priced by weight, quality and carat. The rest of the value of a ring is the craftsmanship and the condition. Good luck

Definitely don't send it off to one of those cash for gold places, they only give scrap value based on weight.

I'd have a hunt on line for some jewellers, phone them up and ask how they will buy, scrap value or for the item (it's a grim business IMO...you might be a bit gutted at the price unfortunately :() have you got any old scrap gold you could sell, or better still negotiate a payment holiday or a period of time with you mortgage running on an interest only basis?

I had a similar idea was shocked at how low the amount I was offered, they make a big thing about how its second hand blah blah, Livingbytheriver has given good advice re payment holiday or interest only.

The other option is to sell at a jewellery auction (there are always lots the first week in December). A good auction house will tell you what they expect to get and you can put a reserve on it to prevent going for too little.