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I sent them a ring that has recently been purchased for $6k….I needed the money more than the ring so I gave them a shot. They appraised it and put it up for auction.
They recommended a "reserve price" of $343 and said that I shouldn't make it any higher than that or the ring won't sell. Me being naive, and having no experience with auctions I went with it. The auction lasted several days and the final bid at the end was $443. When I asked for my ring back, they said it was no longer in their possession.
I'm absolutely devastated! If I would have known that ring would've went for a measly $400 I would have just kept it. DO NOT TRUST THEM WOTH YOUR JEWELRY! I wish I'd read the reviews beforehand…now someone has a $6k ring for $400. Thanks Worthy. After their fees I got a little over $300.
Natalie R.'s review of Worthy earned 4 Very Helpful votes
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Hi Natalie,
As part of preparing your jewelry for auction, your ring was professionally cleaned and photographed by our expert team, and your center diamond was graded by the GIA, an industry-leading expert in diamond grading. Our recommended reserve price was determined by comparing the objective third-party grading report for your diamond and auction performance for jewelry pieces of comparable components and quality. As a reminder, you were given complete control to start your auction at our suggested amount or to set your own reserve price. Prior to starting your auction, you were required to acknowledge your understanding that once an offer meets or exceeds your set reserve price, the sale is final.
Although we were able to help you reach an offer that exceeded the reserve price you set, we are sorry to hear you are unhappy with the outcome of your auction. With that said, we also stand by our completely risk-free process that allows you to decide the minimum amount your jewelry sells for, regardless of the current market demand. All unsold jewelry is returned at no cost, in the same condition originally received.
To ensure you have realistic expectations when selling pre-owned jewelry, it is important to first understand that in a resale market, it is very likely for diamond jewelry to be sold for a significantly lower amount than what was originally paid. Retail prices commonly include markups for any overhead costs and profit margins that do not transfer over to a secondary market. These added costs are not part of a jewelry piece's intrinsic value and therefore will likely not be part of what a buyer will consider paying. Market demand can also shift over time, changing what buyers are looking for and what they are willing to pay for certain characteristics.
A member of our leadership team has already connected with you however in light of your recent feedback, we will have another member of our team follow up with you directly to ensure any remaining concerns have been addressed.
Thank you,
Worthy Team