Selling a Gold Ring: Ethical & Practical Advice - Orlando

Question
Hello Bill & Sally,
Hope you had a good vacation.  My neighbor has a heavy gold finger ring left to her when her husband died.  She knows I have used eBay so she asked me if I could find a buyer for her ring.  This leads to two problems.  The ring is somewhat erotic and I have zero knowledge about jewelry.  I live in Orlando and it appears you are in the Central Florida area as well.  Can you suggest how I might proceed to get my neighbor a fair price for her ring?  Thank you.

Answer
Hello Dave and thank you for your inquiry. I do miss Central FL - we're back in our homestate of WV now. If the ring is gold you should have it tested as to what karat gold and the weight. Gold prices fluctuate daily and are now very high. You can find out the daily gold prices in the newspaper or online by using the search on your browser for "gold prices". In addition to the gold value the design of the ring may be appealing to some - ebay would be your best bet since it offers the largest buyer base. After finding out the value, look for similar gold rings on ebay and then offer your ring possibly with a reserve (the lowest amount at which you would consider selling it). That way, if your price isn't met, you will still have the ring. You might also want to consider a professional estate jewelry appraiser. One reputable one I know in Central Florida is Heritage Sales and Appraisals in Orlando. The owner, Renis Peyton, is very knowledgeable in estate jewelry. Hope this helps and good luck !