Okay How Much Is The Gold In Your Ring Worth
Here, you will need to take out your calculator again, because you need to convert those grams into Troy Ounces. Why? Because Troy Ounces are the measure that is used to report current trading prices on the London Fix. But the good news is, you can find online calculators that will convert grams to Troy Ounces, and it will take only a second.
You will find, for example, that your 10 gram wedding ring weighs 0.32151 Troy Ounces. And with gold currently trading for $1,877.20 per Troy Ounce on the London Fix, you can work your calculations back from there.
If youre confused, call our precious metal consultants at 800-426-2344 and we will help you.
What Is My Wedding Ring Worth
Before selling any jewelry piece you should get a verbal appraisal from a reputable jeweler. They should be able to provide an estimated value for what the piece should sell for. Always make sure that you ask questions! It also doesnt hurt to get a second or third opinion just in case.
Bring these items to your appraisal:
- Diamond Certifications
- Previous Appraisals
*Note on Appraisals: If you have an insurance appraisal, keep in mind that the value on this appraisal is not what your ring will sell for. This document is only so your insurance company can determine what a full retail replacement value would be if the ring were to be lost or stolen. True secondary value when selling to a dealer will be much lower than that. However, your insurance appraisal may include details that can be helpful in determining what the liquidation value should be during your evaluation.
While having an insurance appraisal written comes with a cost, there should be no charge for a verbal appraisal from a dealer. A reputable dealer will provide verbal appraisals and estimates at no charge.
After you have your wedding ring evaluated you will know what stone and cut you have along with the total carat weight, precious metal type, and any unique details that can affect overall value. Have them walk you through the evaluation process so you have a full understanding of everything, and to make sure that they are being transparent with their verbal appraisal.
Can You Sell Your Engagement Ring
As long as people continue to get engaged and married, theres not going to be a shortage of demand for engagement rings any time soon. In the U.S. alone, more than 2 million weddings take place each year so it doesnt seem like theres anything to worry about on that front.
Of course, many people would prefer to buy a new ring, but for those looking to cut costs, a second-hand engagement ring is an attractive prospect. Buyers can enjoy huge savings this way, so it makes financial sense. Some people may even have a preference for vintage rings.
Because of consumer demand, jewelry dealers and brokers will always be interested in buying used engagement rings they know they stand a good chance of selling them on and making a profit.
As a result, you need to take care not to accept too low a price, but you certainly dont need to worry about being unable to sell your engagement ring at all.
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Should I Buy A Tantalum Wedding Band
Tantalum ring with white gold inner lining. See it here.
The decision to buy a wedding ring ishighly personal and choosing the style of ring depends on a range of factors,including budget, appearance and personal values.
A tantalum ring offers a lot in terms ofdurability, wearability and ring designs. While it might not be the mostpopular or classic wedding ring metal, it has a neutral look and color thatsbound to be in style.
Its also an excellent choice for someoneintrigued by science and technology but may not be ideal if environmentalissues are a priority for you.
If youre looking for a tantalum ring, werecommend checking out the following shops, which have small but excellenttantalum rings on offer.
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Common Mistakes Jewelry Sellers Can Make
Safeguards are critical when selling jewelry to the public. First NEVER, NEVER, NEVER, and NEVER meet an unknown buyer in your house. Personal safety and protection against robbery should be your first priority. If you dont have a way to meet the potential buyer at a public place, then do not sell your jewelry to the general public. Meet the buyer in a public place like a restaurant or shopping mall. I suggest the buyers bank, because if they wish to buy the jewelry they can go and get the cash now and finish the transaction. In addition the bank should have some security if something goes bad.
Fraud should be next on your mind. Cash is the best transaction, checks of all kinds can be faked. Also be aware of switching of jewelry con-men are on the look out for unsuspecting people.
Some other safeguards and precautions are worth taking. First, notify someone of the time and place of your meeting. You can even tell them that you will call after the meeting just to check in. It is helpful to have a mobile phone. It is also a good idea to go with someone else. I have met people with another person standing in the background just watching. Sometimes con-men work in teams and someone looking at the whole situation can see that it is a bad situation in time to help you not get taken.
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How To Sell Your Wedding Ring With Worthy:
Find Out Where You Can Sell Your Diamond Ring For The Most Money
Diamonds may be forever, but they dont necessarily need to be forever with the same person.
But whatever the reason is, its a certainty that you want to know how to sell your ring for the most money.
Were going to talk you through each of the different options available to make sure that you have a clear understanding of where the best place to sell your sparkler is and how to get the most for it.
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Selling Your Diamond Ring To A We Buy Gold Store
We buy gold shines the neon sign and yes, these businesses do indeed buy gold, as well as platinum, diamonds and many other precious metals.
They are essentially a middleman who take the items that they buy and resell them on. Like a pawnbroker, they will give you an assessment of the value straight away and will offer cash.
We contacted two NY-based We buy gold organisations and the offers that we received back were: $1,300 and $1,500.
If you are looking to just sell a piece of gold jewelry with no center stone then they can be a good option, but they arent the best option for a precious gem.
How To Sell A Diamond Ring
When youre selling your diamond ring, it can be tempting to go for a quick, easy sale. However, doing do can mean that you receive significantly less than you should.
If youre in a hurry to sell and simply Google diamond buyers near me and then choose the first on the list, its likely that you will receive significantly less for your diamond than you should.
In this section well look at other places you could sell your diamond ring to, and what to watch out for at each.
The amount that you will receive when selling your diamond or engagement ring depends hugely on where you decide to sell it.
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Where To Sell Platinum Wedding Rings
Written on September 23, 2010, by Arch Enterprises
I have 2 mens wedding bands that are 95% platinum. Together they weigh 22.54 grams. Can you tell where I can sell them and how much they are worth? From Richard in Atlanta, Georgia.
As with any jewelry, you can always try to sell platinum rings for their jewelry value through a jeweler, pawnshop, or eBay. Of course the market value you may get for used jewelry is very hard to determine and many people are very skeptical about buying jewelry online.
Determining the value when viewed from refining point-of-view is much more straightforward. We refine platinum jewelry based on the weight of platinum available for extraction and the market price of platinum. Platinum prices are determined by troy ounces, so you will need to convert grams to troy ounces. There are approximately 31.1 grams in 1 troy ounce. So your rings weigh about 0.725 troy ounces. Then we find the market price of platinum, which changes daily.
According to CNN Commodities Prices, platinum is $1,538.70 USD per troy ounce. Based on this, the melt value of your 95% platinum rings is about $1,060. Typically we can return 70% of the fine platinum value based on the weight and market price.
Protect Yourself When Selling Online
Selling your ring online can bring higher rewards, but can also pose a few challenges. Protect yourself from possible pitfalls with these hints.
- Provide High-Quality Photos One of the most common reasons for customer dissatisfaction is misaligned expectations. Try to mitigate this problem by taking lots of clear photos, including plenty of close-ups. Include how the ring looks on a finger and a variety if different angles.
- Dont Exaggerate It can be tempting to exaggerate a rings advantages when trying to sell it. If you overpromise and underdeliver, you might have someone trying to return the ring after purchase. Honesty is definitely the best policy here.
- Get Proof of Postage No matter what the buyer says, dont ever post a high-value item like an engagement ring without making sure you have proof of postage. This will protect you if the ring is lost in transit. It will also provide proof if the buyer is tempted to claim the ring never arrived.
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Do Diamonds Decrease Or Increase In Value Over Time
Like the question above, theres no precise answer to this question. Diamond prices fluctuate over time. Over the last decade, diamond prices increased in the years directly after the Great Recession before declining slowly but steadily since the beginning of 2012.
As with precious metals, luxury watches and other high-end goods, theres a public perception that diamonds can be safe, profitable investments. In almost every case, this doesnt match up with reality.
In general, diamonds do not increase significantly in value over time. Outside of a small number of rare or colored diamonds, the vast majority of diamonds have decreased slightly in value over the last few years, making them a poor investment from a price appreciation perspective.
However, over a longer time period, diamond prices have increased. This chart from Statistica, for example, shows a more than tenfold increase in the market price of diamonds per carat for the period from 1960 to 2016.
At first glance, this can make diamonds look like a good investment. However, the reality is that investing money in just about anything else would have produced a better return on investment over the same period than purchasing and keeping a diamond.
For example, based on historical market data, $1,000 invested into the S& P 500 in 1960 would have grown to approximately $213,690 by the end of 2016, providing a far better total return on investment than that offered by a diamond.
Whats The Best Way To Get The Most Return On Your Jewelry
Selling estate jewelry is the art of compromise. There is a balance between dollar paid and quickness of payment and ease of transaction. If you want the high price, fast and easy, you are dreaming. The higher the price gained from the sale of estate jewelry, the longer the time and more difficult the transaction. Finding another consumer to buy your jewelry is the most profitable but the most difficult, time consuming and problematic. Walking into a dealers shop is the easiest and fastest way to sell but you are selling at wholesale or less. Finding the balance is a personal judgement call.
Each method of selling estate jewelry has its strengths and liabilities. Besides the price received for the jewelry, the time investment you have to make to sell the jewelry enters the equation. What are your time and energy worth? I have known people who have driven around town for two days just to make $20 more. Dont over look the ease of transaction. Not all people decide to buy and pay cash on the spot. Some individuals take two or three visits just to make up their mind to buy. There could also be a measure of trust in shipping the jewelry across the country or even a payment plan could be the only way a person could afford your jewelry. The balance of dollar paid versus method of payment can be very tricky.
Selling estate jewelry is the art of compromiseEach method has its strengths and liabilities.
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How Much Will You Get When You Sell Your Ring
Like anything, a diamond ring is worth what someone is willing to pay for it.
Prices for new diamonds have been fairly steady over the past 5 years contrary to what many people expect, diamonds are not an investment that increase in value over time.
In this section well look at why the price you are offered is likely to be less than you originally paid.