Ring Auction for Jilted Lovers.

Joshua Opperman started this unique auction website to fulfill kind of a sad niche. Here's his story:

A few years ago, I thought I had met the love of my life. She was smart, beautiful, and funny. I was finally ready to settle down. I went and picked out a beautiful, EXPENSIVE ring. Ill say it again, forget the ring being beautiful, it depleted me of my life savings, but I loved her and she was worth it (so I thought.) A few months into our engagement, I came home from a tough day
at work only to find that my apartment was completely empty. All of her stuff was gone, and all that was left was the engagement ring lying on my table. Besides being completely devastated about the situation I was left wondering what to do with this ring. I thought to myself, should I keep it and save it for the next girl? Should I sell it back to the jeweler? Well, I decided I didn’t want to see that ring ever again and could use the money. So, I went back to the jeweler and tried to sell it. As miserable as I was at the time, my misery was intensified when the jeweler came back and told me how much I could resell it to him for.

As if I wasn’t depressed enough, the ring that I had spent my life savings on
could only be bought back at 32% of its original cost. Needless to say, I kept
the ring for hopes that one day; I could sell the ring for what it was really worth.
This website is my answer.

So Joshua created the eBay for jilted lovers to sell their unique (and unusable) engagement ring! Link - Thanks Ben!

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Newest 2 Comments

Aramax, I think there is another reason: profit.

Most jewelry stores have certified gemologist on staff to check the authenticity of the stone. Many of engagement rings only have 1 diamond to check anyhow!

Nevertheless, you're right about trust being a big issue when you deal with jewelry. I think the large chains (like Kay Jewelers) do offer a 30-day money back guarantee. And wholesale jewelers buy diamonds sight unseen (and leave diamonds to be appraised by the buyers without any collateral!)

All that said, I think if you're talking diamond, the biggest hoax is that: it's not rare at all! It's "scarcity" (and hence high price) is artificial.
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There is a reason why the ring can only be bought back for a fraction fo the price.

It's called counterfeits.

You need to pay an expert ( The guy who sell the rings is not that expert ) to check that every little rocks on the ring is authentical and the only way to do this is to examine each and every little rocks one by one spending sometimes more then 1 hour of miticulous scrutinization. That expert does not work for cheap and you have to take his word for granted or pay a second one.

Let's say you're the shop owner and you take the ring backfrom a customer, you get it checked by a jewel expert who happens to be a scam artist. Both the seller and the scam artist have left the scene of the crime by the time anyone could notice anything.

Jewellers all around the world lose a lot of money that way. Trust is a big issue when you trade with diamonds.
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