Would You Sell Your Wedding Rings To Raise Money Or After A Divorce If You’re Wondering Where Can I Sell My Wedding Rings Then Read On
A few years ago, during the television show Downsized, the Bruce family was faced with losing their entire emergency fund due to a big hospital bill, a car breaking down, and various other unexpected costs with the kids. The husband was dealing with the problem by negotiating with the hospital, car repair parts place, dentist, and each of the other vendors in order to lower their overall bill.
But the wife had another idea all together: sell her engagement ring and wedding band.
This sparked quite the conversation in our household, as I had once suggested we do the same thing.
Use An Interactive Site
There are lots of online jewelry exchange sites these days, and theyre quite easy to use. You want to stick with the established ones like Worthy and Abe Mor, or White Pine. These interactive services are really easy to use. Some, like Worthy, will collect your ring and send it to GIA at their own cost. You can easily navigate their site and receive your funds instantly.
These sites do take a commission th0ugh. As high as 20% for some vendors. And the same rule applies your ring will sell at a fraction of its buying price and far below its evaluation price. These interactive engagement ring market places work as anonymous auctions. But Worthy sends a selling price estimate when they evaluate your ring. Thats your online ballpark figure.
The Simple Way To Sell Your Wedding Ring And Engagement Ring
Whether youve gone through a divorce or are interested in selling an inherited heirloom piece, you may have asked yourself, Where can I sell my wedding ring? We know that selling your wedding ring online can be an emotional process. It can also be an overwhelming one if youve never sold diamonds before or if you have a lot of uncertainties.
Many prospective sellers turn to the Internet and use search terms such as: How to sell wedding rings? Where to find diamond wedding ring buyer who is reputable? Sell my wedding ring fast in the hopes of finding answers.
At WP Diamonds, weve amassed an honest and dependable team to make the process easy and stress-free. There is always an expert available to answer all of your questions. Choosing well established, educated global diamond wedding ring buyers such as WP Diamonds, ensures you sell wedding rings for the best price. We will walk you through each step of the selling process.
Our team has extensive experience in the online diamond buying market, more than any jeweler and pawnbroker. We will gladly provide you with our credentials and give you the assurances you need in order to feel comfortable when the time comes to sell. Diamond wedding ring selling should be a positive experienceone that we strive for each time.
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Understand The Business Model Of Your Seller
As always, it helps to understand the business model and mindset of the person across the table from you as you seek to sell your diamond ring.
While we dive deep into the business model of pawnshops and quick value stores in our Diamocycle GuideWhere to Sell Diamond Jewelry, wed like to take a moment to explain how local retailer jewelers sell diamond wedding rings.
The above guide will be instrumental as you begin to explore Where can I sell my diamond ring?
As you likely know, local jewelers often buy diamonds at the market rate from wholesalers. Given the longevity and trust built into that relationship, a retail jewelers only incentive to buy a diamond elsewhere would be at a very cheap price. While local jewelers might seem like a great place to sell your engagement ring, as you ask yourself, wheres the best place to sell my ring?, we remind you that just because a retail jeweler pays a good price for a diamond from a wholesale jeweler, doesnt mean theyll pay you that price. While retail jewelers do purchase diamonds at market rates, its incredibly rare for retail jewelers to offer that level to engagement ring sales out of their standard chain of sale. Given that, we do not strongly recommend you think about selling a ring to a jewelry store.
How To Sell A Diamond Engagement Ring
Judging by classified ads like those in The Trading Post, there are always people selling diamond engagement rings. The most common cause is that the engagement or wedding was called off, leaving the would-be bride or groom with an expensive ring, along with all the emotional baggage attached to the ring.
We actually get quite a few calls and emails from people wanting to sell their diamond engagement ring or jewellery. Sometimes theyve upgraded the diamond, other times they need the money, but most commonly, the engagement has been called off.
Unfortunately, none of these calls or emails have ever resulted in us buying the diamond or engagement ring, and the advice we usually give people is to either take it to a valuer and speak to them or contact the store you bought it from, as they most likely deal in the kind and quality of ring that you have previously bought from them.
However, its not that were adverse to buying diamonds from the public, its just that none of the diamond offered to us would suit our inventory or our target market. For example, if someone came off the street today, and offered to sell us a 1ct F/SI1, AGS 000, wed have no hesitation to buy it and wed pay good money for it. However, the story would be different if someone came off the street and offered us a 1ct H/VS1, very good cut, certified by a lab wed never heard of before.
Good Selling Begins With Good Buying
What Your Diamond Engagement Ring is Worth
Alternatives to Selling
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Dover Jewelry & Diamonds
If you want to sell your jewelry online without managing auction listings yourself, check out Dover Jewelry & Diamonds. They will take care of the process of listing your wedding ring on multiple sites for a fee.
Like Worthy, they utilize websites like eBay for whom they are the exclusive consignment partner Etsy and 1stdibs. You wont pay anything until your ring sells. The fee when it does will be based on the price it achieves. The rates are, however, more expensive than some, starting at 20 percent.
To begin, simply email the company with details of your wedding ring and your contact information. They will accept pieces in gold and platinum, signed sterling silver, and rings with or without precious or semi-precious stones.
They will assess your ring and send you information on what to do next. You will need to cover shipping and insurance costs to send it to them. They will then prepare your ring for sale. All items will be listed for sale within a week of receipt.
The major advantage of selling your ring through Dover is its status as a trusted seller. Customers investing in high-value jewelry through sites like eBay will want to know theyre buying from a reputable source. Dover has 100 percent positive feedback and titanium seller status on eBay.
There are no guarantees about how quickly your item will sell. When it does, though, youll receive payment within 35 days.
Who Gets The Engagement Ring After A Divorce
If you havent started the divorce process yet, but youre already thinking ahead to selling your ring, you might be concerned that you wont even be eligible for the ring. Legally, wedding or engagement rings are a gift, meaning the recipient has the right to keep the gift. Basically, your ring is yours to keep or to sell.
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Understand The Appraisal Market
While we strongly recommend that you get an appraisal of your engagement ring or diamond jewelry prior to selling it, we also encourage you to remember that appraisals often overestimate the value of the diamond and should serve as an upper boundary of what you might be able to sell your engagement ring for, even when you are being savvy and deciding to sell my engagement ring online.
The first reason that your appraisal may be overvalued is that the appraiser is often trying to offer the consumer a value for the future, and takes into consideration the potential for an increase in price. The other reason that an appraisal is often inaccurate is that the appraiser often tries to soothe the ego of the purchaser and minimize any possibility for buyers remorse. Appraisers often overestimate the resale value of a diamond ring to make purchasers and diamond owners feel good about their engagement ring and feel like they got a good price. Lastly, by having a valuable appraisal done, it is less likely that the receiver of the appraisal will doubt the appraisals claim or ask for a refund. While this tactic is morally dubious as consumers then often end up paying more for insurance, we ask that you please take this into consideration as you move forward with your appraisal information and as you begin to try and sell your engagement ring.
How Much Can You Sell An Engagement Ring For
A 1-carat diamond and gold engagement ring will fetch resale prices ranging from $1,000 to $5,000, depending on the cut, quality and setting. Platinum setting and large side stones can mean higher prices, as can name brands like Tiffany or Cartier.
Your engagement ring is worth the current market rate for the diamond and metal.
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Sell Your Engagement Ring In Houston
Although we buy engagement rings and diamonds nationwide, our headquarters are in Houston, Texas. If you are local to the Houston area, we welcome you to stop by our Galleria-area showroom and jewelry store for a free diamond estimate. Our trained GIA gemologists are ready to provide you with a true valuation of your engagement ring and make a cash offer. We also accept appointments.
Sell Your Rolex In San Diego And Get A Cash Bonus
Sell us your Rolex watch to us and we will pay you an extra $350 just for mentioning this special offer on our web site. Levi Family Jewelers is the top Rolex Buyers the top Rolex Buyers in San Diego and we pay the very most for your Rolex watches! We are the premier Rolex Buyers in San Diego and pay more than anyone else for your Rolex watch. We also buy platinum, diamonds, fine jewelry, and gold, in all conditions. Contact us now to schedule an appointment or call 239-2618.
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Selling To A Pawn Shop
Pawn shops also deal in unwanted engagement rings, and they can be one of the quickest and easiest ways to sell your jewelry. However, these shops are designed to make a profit, and they won’t give you top dollar for your ring. To maximize the amount you get at a pawn shop, be sure you know your ring’s value when you go in, and choose a shop with a good selection of jewelry. If you aren’t happy with the price they offer, choose a different venue.
Why Expensive Settings Arent Valuable
When buying an engagement ring, the cost of production makes up a significant proportion of the cost. If a ring is custom designed, or if it has many small melee diamonds set into it, it takes time, effort and money to create.
These certainly makes it more special to the wearer, but unfortunately when most jewelry purchasers place a value on a ring, they disregard the production value and base the their offer on the center diamond as they will usually remove the diamonds from the setting and melt it down to reuse in other jewelry.
This process of removing the diamonds is time-consuming and can mean that the time taken to disassemble the ring can be more valuable than the small diamonds are actually worth.
To a diamond buyer, therefore, the $10,000 ring with a setting that cost $4,840 doesnt have the same value as a simpler solitaire setting with an inexpensive $245 setting but a much larger diamond. It doesnt mean that the expensive setting wasnt valuable originally, just that unfortunately it isnt valued by jewelry buyers to the same extent now.
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Sell Wedding Ring Youve Come To The Right Place
We offer an easy and safe way to sell wedding rings. It doesnt matter whether the rings you need to sell are old, damaged, have missing stones or are even brand new.
With Divorce your Jewellery you can sell wedding bands, engagement rings, platinum rings through to signet rings. Rings are often of good value and therefore should be sold for an appropriate amount, by someone who can expertly appraise their value.
Can I Sell The Ring Setting Too
Yes, you can sell both the diamond and the setting at the same time, even if the jewelry buyer plans to break apart the ring later. But, the setting will not be as valuable as what it was originally purchased for. Most professional jewelry buyers will melt bands and settings down to scrap gold or simple precious metal.
ABE MOR offers great prices for both diamonds and settings.
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Understanding How Much Your Diamond Ring Is Worth Right Now
There are many values that are assigned to a diamond ring throughout its life.
When selling a diamond ring though, theres only one that matters: what someone will actually pay you.
Its much more accurate than any kind of diamond price calculator ever could be.
However, its important to understand each of the values that can be assigned to a ring and how they relate to each other.
We Almost Sell My Wedding Rings
When Paul proposed to me in June 2009 he presented me with a gorgeous engagement ring. It was a platinum band with a beautiful clear-cut diamond cast between two diamond baguettes. The proportions were perfect for me the diamond and band were not too wide or gaudy and the setting was not so high that I felt it would catch on everything.
And then I found out how the ring felt like it was made for me: Paul had designed it with the jeweler.
After deciding that it was time to propose, Paul spent several lunches with a jeweler on Buffalo Speedway to mold some metal and a stone into a beautifully shaped token of love.
I gladly accepted.
We did not want a long engagement so we began planning for the wedding almost immediately. I had not been saving for one as most of my teenage and young adult life I didnt think I was the marrying type. In fact, the only reason why I said yes was because it meant that I got to spend the rest of my life with Paul the rest of being married I figured we could work out.
Combined we were $25,000 in debt at that moment, we wanted to put a decent downpayment on a home, and we wanted to pay for our wedding in cash. All of this was to happen within the next 8-9 months. One day during a pragmatic conversation about finances and the wedding day I decided to throw out an idea he might be up for.
I think we should sell my engagement ring to help pay for the wedding.
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How Much Is An Engagement Ring Setting Worth
The gold or platinum setting of an engagement ring is typically worth its weight in scrap metal costs. Any side stones, unless they are more than .3 or .4 carats, are called melee diamonds, and may be worth a few hundred dollars if they are high quality.
Except in rare cases when side stones are large or high quality, or the ring is by a name-brand jewelry designer jewelry and diamond buyers will remove the center stone to repurpose, and melt down the ring setting for scrap.
Know Your Rings Value
You must always know the worth of your wedding ring to earn a top dollar. To give you an idea of how much your ring is on the current market trend and how much you can sell it, take your ring to a professional jewelry appraiser. You can bring with you your ring documents, insurance policy, previous appraisals, and receipt. Knowing your rings value will help you how to sell wedding rings.
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Where You Bought Your Ring From May Affect How You Feel About The Amount Youre Offered For Your Ring
If you bought from a bricks and mortar then the difference between the replacement value listed on the appraisal and the resale value that you are offered may be significant, and more than you expect.
This is because diamonds and jewelry at bricks and mortar retailers are generally overpriced.
Compared to online retailers, bricks and mortar jewelers have far larger overheads staff, rent, stock etc. This means that they need to charge more for their products to cover these. With diamonds, this difference can be significant and the price of a diamond at a chain jeweler can be twice that of an online retailer.
For example, this 1.01 carat, G color, VS2 clarity diamond costs $11,185 at Zales.
An equivalent diamond is priced at $5,084 at one of my recommended retailers:
Despite this big difference in original price, these two diamonds would still be worth the same when it comes to selling them.
What this means if you paid a higher original price at a bricks and mortar or designer brand retailer, then the difference between the price you are able to realise when selling and the price you paid will be greater.
That can be difficult to come to terms with, but unfortunately its the reality when some retailers charge significantly more for similar merchandise.