This is the hardest sale for anyone who has tried.  Cocktail rings were popular until about 1995, then the product category died, fell off the radar of every jewelry store in the USA.  People just don't wear cocktail rings anymore.  They are pretty, but since there is no aftermarket, the price you'll get is for recycling.  The gold is worth something, depending on the purity.  14Karat is the average and should bring as much, if not more than the diamonds.  The diamonds are not worth a whole lot, since they are small and usually not the top notch quality.  Remember, a lot of the money you spent on that cocktail ring is for gold and labor, since the diamonds are not that expensive.  You always loose the labor when you sell your ring and you always loose the profit that the jeweler makes on a your original sale.  A lot of customers say they see cocktail rings on eBay and that's true, but if you look closely, they don't get a lot of bid and most of the items for sale are for low amounts of money.  There are buyers on eBay that are trolling for old gold.  They look at the gram or pennyweight of the ring that's for sale and offer scrap price.  You are better off going to someone that will give you something for the small diamonds.  Most gold buyers don't offer anything for small diamonds.