What Is The Typical Diamond Ring Appraisal Process
A typical appraisal process takes about fifteen minutes.
First, the appraiser will test your diamond ring in nitric acid to distinguish any gold from other base metals. Then, he or she will measure the height, width, and weight. This will determine the diamond’s carat size.
Then, he or she will inspect the diamonds surface with a 10x magnifying glass for any inclusions. This will help him or her categorize the clarity of the diamond.
Determining a diamond’s color may be the hardest part of all. Experience plays a huge factor here. Placing the diamond on a white piece of paper to observe the color is the most common practice.
How Much Can I Sell My Engagement Ring For
Engagement rings typically sell second-hand for 30%-50% of the original retail price. To get the best price for your diamond ring, it pays to sell to the experts. At WP Diamonds, our team of GIA trained gemologists buy engagement rings of all shapes and qualities with at least one stone of 0.50ct+.
Our service is free of charge with no hidden fees or commissions deducted. The entire selling process can take as little as 24 hours from filling out the form to receiving payment. At WP Diamonds, we are committed to providing honest price quotes, exceptional customer care and a trustworthy, professional selling service. We are proud of our A+ BBB rating and 1,000 + customer reviews.
How to sell your engagement ring:
- Where the ring was purchased and how much for
- Where the ring is sold
Where You Might Sell Jewelry: Circa
Mondiamo was a relative newcomer to the online diamond and jewelry buyer market which partnered with BlueNile, a retail leader in the online diamond engagement ring world.
In early 2020, Mondiamo merged with a competing company, Circa. Circa has maintained Mondiamos relationship with BlueNile and has an A+ rating with the BBB.
Circa pays cash for jewelry, and accepts high-end branded jewelry, as well as diamonds of at least .4 carats, and engagement rings. They will also purchase historical or estate jewelry including pieces such as: Antique, Edwardian, Georgian, Art Nouveau, Belle Epoque, Art Deco, Retro, Modern.
Circa has 14 physical locations , if you prefer you can schedule an appointment for an in-person evaluation of your jewelry. Whether in -person or online, if you accept the offer, you will be paid immediately
If you provide a grading report from the GIA, EGL, IGI, AGS, GSI, GCAL, IIDGR, or HRD, Circa provides a guaranteed offer range. Once you mail in your jewelry, Circa is able to guarantee a final offer that falls within this range. The company claims that more than 90% of its customers receive a final offer price higher than the midpoint of the guaranteed range . Mondiamos 15% fee is already calculated into the range.
Circa vs Worthy
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Tips For Selling Engagement Rings
There are many reasons why you may want to sell your engagement ring and whatever that may be it is likely that you will want to get as much money out of it as possible. There are a few things that you can do to help increase the amount of money you make.
Here are some tips for selling engagement rings.
How Can I Sell A Platinum Diamond Ring
02 Aug 2013
In terms of second hand jewellery, those seeking to sell a platinum diamond ring may well be able to realise significant sums for their item. However, with an expert eye required to properly assess such a specialised item, it can be hard to find a buyer prepared to offer true value. This is because many firms operating in the second hand jewellery market lack the expertise and are only able to deal with simple gold jewellery. So if youre keen to sell such a ring, then this guide will help you find buyers who should offer competitive prices. Well tell you all about platinum diamond rings and their value, where to sell platinum diamond rings and also how to sell a platinum diamond ring quickly, safely and without any hassle.
YOUR OPTIONS TO SELL A PLATINUM DIAMOND RING
Platinum diamond rings are highly sought after pieces so you need to find out about the market and current platinum prices, research what similar rings are selling for online and on the High Street and then once you have the knowledge you need, you will be able to sell your platinum diamond ring confidently.
Sell a Platinum Diamond Ring Online
Selling a Platinum Diamond Ring at Auction
Sell a Platinum Diamond Ring to a Dealer
Selling a Platinum Diamond Ring to a Pawnbroker
WHY USE 62DAYS TO SELL MY PLATINUM DIAMOND RING?
WHAT DO I NEED TO KEEP IN MIND WHEN SELLING A PLATINUM DIAMOND RING?
WHAT IS THE VALUE OF YOUR PLATINUM DIAMOND RING?
WHAT YOU CAN DO NOW
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A Local Independent Jeweler
Another sales route is to visit an independent jeweler. Chances are good you can find a store in your town. If youre in New York City walk through the Diamond District in Midtown Manhattan to find dozens of choices. Philadelphia and Los Angeles have jewelry districts.
Smaller towns may have just one or two good choices, and a Google search and Google reviews could help save you some time. Independent jewelers are a better choice than chain stores in the mall in most cases.
An independent store can examine your ring and offer advice. Look for a jeweler that has evaluators trained by the Gemological Institute of America , as theyll be able to discern your rings value and find out whether they could remove the diamond.
Removing a diamond is the best and most accurate way to assess the quality of a diamond. But removing the stone risks breaking prongs . Your local jeweler may use a color card to determine the color of a diamond the color on the card is compared with the color of the diamond.
If the diamond can be safely removed, you can send the jewel to a lab for diamond certification. Doing this ensures the diamond is appraised at its true market value so you can sell at a precise price.
This takes time and some upfront money, but this method can bring in a higher price for loose diamonds.
Or, the store owner may offer you a price to buy the ring on the spot. Its up to you. You could sell the ring right then or wait for a higher price.
What You Could With An Engagement Ring After Divorce If You Dont Want To Sell
If the rings sitting in a drawer, the back of the closet, or a jewelry box, collecting dust and spreading bad energy, what can you do with them? Two ideas:
- Repurpose the diamond into another piece of jewelry like a necklace pendant or right-hand ring. But, lets get real: Its still the same gemstone, with the same memories.
- Keep it to give to your children
These divorced women created their own meaningful ceremonies with their engagement rings:
Monique: Climbed a mountain and threw it off the summit.
Sarah: Put it in the collection plate at church.
Melanie: Sold my diamond ring. Bought an entrance to a marathon, new running shoes, got my hair cut and colored, bought my kids a toy, and paid my attorney of the money I owed. It was tough, but Im glad its not there burning a hole in my soul.
Misty: Sold it to buy gas to leave his sorry a$$!
Precious: Flushed it. It was cheap just like our marriage.
Joan: Since mine is 3.5 carats I still wear the fucking thing
Eve: I left it on the dresser for him along with a note that said it was as worthless as his vows to me.
Shonda: Bought hardwood floors for the house. Wed fought bitterly over that while we were married. I enjoyed my new floors for three years before selling the house. The realtor estimates the floors added $25,000 value. Win!
Shanna: Wrapped it up in a bunch of scrunchies, and threw it into the middle of a river.
More about my own experience selling my diamond and gold engagement ring:
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Why Is The Resale Value So Low Why You Will Lose Money Selling Your Engagement Ring
One of the reasons many women choose not to sell their engagement ring is that the price they are quoted from a jeweler or auction site is much lower than they believe their rings to be worth. Typically, the resale value of a diamond is about one-third of what you will pay retail.
There are a few reasons for this:
I admit that the cash I earned by reselling my engagement ring was less than Id hoped, but after some research, I understood that there is a significant difference between retail and resale value of diamond. It is what it is.
Best Place To Sell A Wedding Ring: Cashforgoldusa
For other rings, gold and jewelry, including wedding rings of gold and platinum, and those with small diamonds, CashforGoldUSA is a quality choice:
- Better Business Bureau rating of A+
- Get paid within 24 hours
- Free, secure mailer or FedEx package sent to your home
- Buys gold, silver, platinum jewelry, watches, coins and scrap
- Fox Business News investigation found CashforGoldUSA paid 3X its competitors.
- 100% highest price guarantee.
- Insurance up to $100,000
- If you do not accept their offer, CashforGoldUSA will send your item back immediately, free of charge.
- 10% bonus if you send your item within 7 days.
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How Can I Calculate The Value Of A Diamond Ring
According to the Gemological Institute of America, there are over twenty factors that contribute to the value of a diamond. But, the four most important are: cut, clarity, carat, and color.
The true resale value of your diamond ring will depend on a combination of the 4Cs, its market value, and any brand name association.
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.
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Where Can I Sell My Engagement Ring For The Most Money
If your ring has at least a half-carat center stone and will likely sell for more than $1,000, it can be sold on Worthy.com, an online marketplace where hundreds of qualified buyers can bid for your item with the promise to drive up the sale price. Worthy has an A+ BBB rating and insures up to $100,000. Get a free GIA lab report estimate and sell on Worthy.com now > >
Maybe you have a wedding ring to sell instead or an engagement ring with worth less than $1,000? If you have a gold or platinum wedding band or engagement ring with a smaller stone, we recommend selling to CashforGoldUSA, including if it is embedded with diamonds or other gemstones.
How To Sell To Wp Diamonds
Planning on selling? If you are wondering who buys wedding rings- look no further than WP Diamonds. Diamond or designer wedding ring selling with WP Diamonds is simple, secure, fast, and free.
Start by filling out an initial valuation form, providing as much information about your ring as possible, such as the color, clarity, weight, and shape of the diamonds. An expert will contact you with an initial estimated offer.
If you choose to proceed, you can ship your ring by taking advantage of our free, highly secure and fully insured FedEx overnight service. Or, if you prefer, you can make an appointment to visit one of our many valuation centers in person to sell. Wedding ring valuation locations include our New York City headquarters, Japan, Hong Kong and the UK.
Once your ring is evaluated in person you can have cash wired into your account quickly and simply within 24 hours of accepting our offer.
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Where To Sell An Engagement Ring
Whether you inherited an old diamond ring or have an engagement ring that you no longer want, there are some great places to sell your ring online for the most money possible.
Selling an engagement ring may be bittersweet whether youve inherited the jewelry from a relative or have been through a broken relationship.
But on the bright side, selling your engagement ring should generate some money quickly. You could make thousands of dollars and even if you can only make a few hundred, thats still a significant number for most people.
But dont just walk into a pawn shop. A specialized diamond buyer will know your rings value and pay a higher price.