By Tim Grant
WWR Article Summary (tl;dr) “Worthy”, an online marketplace for diamonds, specializes in matching people trying to sell unwanted engagement rings with professional buyers.
After her six-year marriage ended in divorce two years ago, Ingrid Renberg gradually lost all emotional attachment to the one-carat diamond engagement ring she was left with.
No longer a symbol of love and happiness, she started to wonder how much money she could get selling it. She felt letting go of the ring would give her a fresh new start.
“The feeling hit me a couple of weeks ago that I was ready,” said Renberg, 34, a forensic psychiatrist who lives in Pittsburgh. “I had grieved appropriately and was ready to move forward. I would not have been able to sell it right after the divorce. But I felt the time had come.”
She took the ring to a local jeweler who offered her $1,500, which she declined because she thought the offer was too low. The jeweler suggested she advertise the ring on Craigslist.
But she feared that would be too dangerous, due to the possibility of being robbed or stuck with a bad check.
Then she found a company on the internet that seemed to be exactly what she was looking for.
Worthy specializes in matching people trying to sell unwanted engagement rings with professional buyers.
“The engagement ring is one of the most valuable assets a divorced woman has in her possession that can now be put to better use,” said Judy Herbst, director of public relations for Worthy, an online marketplace for diamonds which is based in both New York and Tel Aviv.
Auctions run all day every day of the year, similar to the method used by eBay. All the bidders are part of a closed community of jewelry industry professionals, ranging from independent jewelry stores to dealers and wholesalers throughout the U.S. Ordinary retail buyers cannot use the Worthy site.