SINGAPORE: A man who hoped to spend the rest of his life with his girlfriend of 8 years had recently purchased a 0.7-carat diamond engagement ring for S$5,200 to propose to her.
However, his hopes and dreams quickly turned to heartbreak when he discovered she had secretly seen another man behind his back. Faced with this painful betrayal, he decided to sell the ring.
In his post on r/askSingapore, he wrote, “Honestly didn’t expect her to do it because of her personality, guess people really do change..there’s obviously no point for me to keep it and I’m thinking of letting it go. It comes with lifetime warranty and has all the GIA certifications.”
Anybody knows anywhere I can sell it off, it’s a really good quality diamond as I really got the best in terms of clarity, colour and cut but I’m willing to take a loss for it.”
“Just keep the diamond, bring it to a jewellery to reset the diamond into a new design”
In the comments section, Singaporean Redditors advised the man to keep the diamond ring rather than sell it due to its low resale value.
They further proposed alternative options, such as gifting the ring to his mother as a meaningful gesture or considering having it redesigned into a new piece of jewellery.
One Redditor said, “Just keep the diamond, bring it to a jewellery to reset the diamond into a new design. My 5 digits ring only costed 2 digits at the pawn shop* lol..diamonds are a scam.”
Another commented, “Give to your mom or resell online, but don’t say it’s [because] you broke up ‘cause people will be panting, say you decided to get a bigger diamond instead.
The specs will make some savvy people looking for good quality diamonds gian. Just dont give any indication of bad luck. Pls dont pawn!! even a 20k diamond ring means nothing, they only pay for the gold.”
A third Redditor also explained, “Diamond prices are dropping at an insane rate, at the point of purchase itself, you lose 30% of its price, there is an abundance, and the lab grown pieces are already mixed into the natural pieces with no actual way to tell the difference.
The only types of gemstones where prices would increase YOY would be coloured gemstones. Imho, would strongly advise against ‘investing’ in a diamond.”
Some also suggested keeping the ring for now and offering it to a future partner when it feels right.
However, some women found this disturbing and said they wouldn’t want to receive a ring originally meant for an ex-partner. One woman stated, “I’d rather have a $50 cheapo ring that he bought for me than a $5k ring that he got for his ex.
If you really want to keep for your future wife, at least change to a diamond pendant or something so its prepared with her in mind. Alternatively, you can also make it into a necklace now and give it to your mother instead.”
Another individual who also went through a bad breakup chimed in to comfort the man, saying, “I went through the same things as you before many many years ago.
Wish you all the best buddy… someday you are going to look back and feel happier that you ended up with a better person.”
Where can you sell diamond rings?
According to Worthy, an online liquidation marketplace for pre-owned luxury goods, you can sell your diamond ring at a consignment shop, where consignors typically charge between 20-50% of the final sales price, or at some local jewellery stores.
The value of the diamond ring will be determined by factors such as its cut, colour, carat weight, and clarity. The evaluation will also consider its shape, age, and condition.
Also, if your ring comes from a prestigious luxury jeweller like Tiffany, David Yurman, Cartier, or Harry Winston, the store will likely offer you a higher price.
If you urgently need cash, consider selling your ring to pawnshops or through online platforms such as eBay, Carousell, and the Facebook Marketplace.
Read related: Man’s fiancée loved the engagement ring he bought for her until she found out it wasn’t expensive
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