Guide To Selling An Engagement Ring For Top Dollar In 2022
You probably never expected to think about selling your engagement ring, but it happens more often than you think.
Tastes change, your ring finger changes size, relationships sometimes end these things happen! And when they do, its good to know that there are options if you want to get some money for your engagement ring.
Continue reading for my top tips on selling an engagement ring.
Here to see where to sell your diamond engagement ring for the most money?
Your Best Case Scenario
In my opinion, in a best case scenario, after diamond prices have appreciated by 10%, you could maybe find someone to buy your diamond for 90, leaving you with a loss of 28% .
If you try and sell your diamond immediately after purchasing it, then your best case would be selling your diamond for 80 or a loss of 36%. Again, this is in an absolute best-case scenario buying bricks & mortar.
Do Rings Depreciate In Value
Yes, the value of rings depreciates when you leave the store the value of diamond rings goes down. But if we talk about gold, then the gold ring never depreciates, but if it has any specific design, then the making charge will be deducted at the time of resale. The market of gold is completely unpredictable.
Furthermore, you can expect to get a good percentage of the gold ring approx 60% to 80% when you think about selling it.
But there are many websites where you can easily get your old ring’s best resale value and deliver the payment within 24 hours. The same iValuelab is one of the websites where you will get the best high-value appraisal. You will get your payment within 24 hours, and we have different payment methods. The best thing about our website is that you can also resell your watches, bracelets, and many other things. We have a very simple process for their clients for selling their rings or other jewelry.
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Best Place To Sell A Wedding Ring Or An Engagement Ring With A Small Diamond: Cashforgoldusacom
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+
- 4/5 Trustpilot stars
- 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.
CashforGoldUSA can help you sell the following:
- Diamond ring with a small center stone
- Wedding ring with lots of small diamonds in the setting
- Engagement ring with small diamonds or other gemstones in the setting
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.
Youve gone to the effort of getting your ring ready for sale and no one is biting. I know you might feel disheartened, but before giving up, give these troubleshooting tips a go.
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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
Final Thoughts: Selling A Wedding Ring Online
The online platforms above will allow you to sell your wedding ring for the highest price. In addition, these platforms make it easy for you to ship out your item through an insured shipping package, making sure that your ring is safe and your seller is trusted.
They also have a certified diamond appraiser to determine the resale value and get you the best sales price. Therefore, whether you have a diamond, gold, or silver ring, the online platforms above have interested buyers and experts who will provide you with the best offer possible.
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Why You Should Sell Your Engagement Ring
Some people never even think about selling their engagement ring and let it collect dust in their jewelry chest for decades. Others do consider it but for financial or emotional reasons either dont want to sell or are afraid to. Finally, there are people who have considered it strongly but just do not know where to start. Do any of these situations describe you? If so, read on .
Selling an engagement ring is different from selling other types of jewelry for several reasons. For starters, because it is a diamond ring it is generally going to be worth a lot more than other gemstone jewelry or solid metal jewelry. This means the decision to sell your diamond jewelry can have a big financial impact. Because of their high value, it is also incredibly important to make sure you keep your diamonds safe and secure.
Theres also the emotional factor. An engagement ring is loaded with strong memories and emotions – likely some good and some not so great. Whether you are divorced or have another reason for selling a diamond ring, just the memories evoked when you look at the piece can be emotionally exhausting.
Using Worthy was so easy, I felt very comfortable.
Selling A Designer Engagement Ring
The exception to this are designer rings, which do have a secondary market and which can be sold as complete rings.
Jewelry from these brands is known as signed in the jewelry trade as they include an engraving of the makers name on the inside of the ring.
So if you want to sell a Tiffany & Co, Bvlgari, Van Cleef, Cartier, Harry Winston or similarly branded signed diamond ring then theres a good chance that you will be able to recoup significantly more than a generic ring with a diamond of similar quality
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The Process To Sell An Engagement Ring
WP Diamonds is an online diamond buyer that offers a quick and pain-free service, making it simple for you to get cash for your engagement ring.
The 5-step process outlined below can take as little as 48 hours:
- Fill out the online form with the details on your engagement ring.
- You will be contacted by a representative with an initial price range.
- Schedule an appointment or send in your items overnight for a final offer .
- A representative will be in touch with a final price.
- Money will be wired into your account usually within 24 hours or your items returned insured and free of charge.
However you choose to sell your engagement ring, you should feel comfortable every step of the way. Consider all of your options, do your research and make sure to sell your engagement ring safely, for the best possible price.
How Do I Sell My Diamond Ring
Selling something as valuable as a diamond can be a very intimidating process. If youre wondering how to sell your engagement ring, keep the following tips in mind to find the best diamond buyer:
- Search for companies with an outstanding rating on the Better Business Bureau. And, search for reviews on Google+ and Yelp when making your choice.
- Be sure the company is certified and uses equipment certified by your state. Dont be afraid to ask questions.
- Be sure the buyers policy includes an actual estimated price. Some companies will offer exaggerated estimates for marketing purposes only.
- Know your product. It will be incredibly helpful to understand determining factors such as the cut, shape, carat weight, and value.
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The Best Place To Sell An Engagement Ring
Worthy is the best place to sell your engagement ring online and better than your in-person options, too. As a tech startup leveraging our innovative auction platform and the expertise of our curated network of jewelry buyers, we know how to get you the best price for your jewelry. And when you sell with us, you can do it safely, conveniently, and quickly.
When you sell your ring with Worthy, we take care of all the gemological lab grading, cleaning, and photography of your diamond for free. This way, our buyers know what they would be getting when they bid on your jewelry at auction – and will be willing to pay much more for it. Heres how the process works.
Selling Your Diamond Ring To Diamond Buyers
At Diamond Buyers, weve taken the complication out of selling your diamond ring and made the selling process as simple as possible. Whether you live close to our Houston location or out of state, our process is easy, transparent, and straightforward.
Heres what you can expect when selling your diamond ring to Diamond Buyers.
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How Much Can I Sell My Wedding Ring For
A great amount of value for wedding rings with one main gemstone is attached to that stone. The size of the stone, its type, cut, and quality are all important factors thatll assist you in finding out the correct value of the wedding ring. Since all these factors affect the resale value of the ring, usually, you can expect to attain 20 to 45 percent of the price you have paid for it earlier. The value of your wedding ring will be impacted by their markup if you sell it to a local jewelry store. Besides selling the rings to local jewelers or pawn shops, you can choose other options like iValueLab.
The rings aging between 20 and 100 years are called vintage?, and due to this fact, they can have an affirmative impact on its value. Jewelry pieces that are over 100 years old are considered antique, and that tag will make them more worthy.
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. However, more and more women are buying their own engagement ring.
One survey by diamond wholesaler De Beers found that the number of U.S. women who bought their own engagement ring doubled over the five years ending 2017 to 14%. What’s more, women who pay for their own engagement ring pay a third more than if their betrothed paid himself an average of $4,400, compared to the average of $3,300 that men typically spend.
There are a few reasons for this:
I used the money to send my kids to Europe with their dad to visit relatives there. It seemed a just use of those funds.
Plus, it felt good to rid my home and mind of that significant marriage memento.
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Get Expert Valuation And Sell Your Diamond Ring To Us
There may be many places where you can decide to sell a diamond ring, but many say there is nowhere as reliable as us. As one of the best diamond buyers in this industry, The Luxury Hut carries out the best valuation process and offers an accurate value for any diamond ring. People often ask What is the value of my diamond ring? when they sell it for cash.
The answer is different for everyone. The real value of a pre-owned diamond ring depends on several factors and characteristics. Considering all the elements, our experts determine an accurate estimated price.
With over 40 years of combined experience, The Luxury Hut aims to provide you with the best offer for your precious diamond ring. Fill in our online form and get a free instant quote from our expert evaluators.
Have Your Ring Graded
Not all engagement rings are diamonds. If you have a diamond be sure to have it graded by a specialist. This will give you the opportunity to show off your diamond to its best advantage.
It could be that while your ring has lost value overall, your diamond has increased in worth. If this is the case, it might be worth selling the diamond and metal band separately. A specialist will be able to give you an estimate of how much youll get for each component, letting you decide which is more worthwhile.
Princess-Cut Three-Stone Diamond Engagement Ring by Blue Nile
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If You Have To Sell A Diamond Ring
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Sooner or later we all have a similar experience. Someone close to us will die and, while figuring out what to do with his Hummel figurines or her crystal candy dishes, we find something unexpected: a piece of diamond jewelry. Or at least what appears to be diamond.
If you decide to keep the piece or give it to someone, the story ends here. But if you want to sell it, a journey begins.
I inherited two diamond rings. One I had never seen before: a thick gold band set with three round diamonds.
The other, however, I knew very well. It had been my engagement ring: an emerald-cut diamond flanked by sets of four small baguettes, in an elegant Art Deco platinum setting. My husband had said his father, a diamond merchant, had chosen the stones and had the ring made for his bride-to-be.
They both died before I married into the family, but as I sorted my husbands belongings after his death in 2011, I came across an undated photograph of the couple. He looked dapper with his walking stick she was wrapped in furs and they both were standing on the deck of the S.S. Normandie, on their way from New York to Antwerp, Belgium, to buy diamonds.
Where Is The Best Place To Sell My Diamond Ring
If youre wondering, How can I sell my diamond engagement ring? youve come to the right place. There are several methods to selling diamond rings. Choosing the right buyer is crucial as it will provide you with your ideal payout and a pleasant experience.
- Online: Ebay and Craigslist are options. However, there are client hurdles and associated costs.
- Auction: Most auctions only buy the most valuable diamonds, and the process is timely be prepared to spend all day waiting for your engagement ring to sell.
- Private Buyer: Finding a trustworthy dealer may take time. However, once you find a reputable buyer who presents you with a good offer, you will receive an excellent cash payout for your diamond.
If you are looking to sell a wedding ring, then your best bet is to go with a private buyer. This is because an auction is an unsafe place to sell an engagement ring as it is highly unlikely that someone will be willing to bid a high amount on a pre-owned ring. If you are looking to sell a diamond ring online, then you should understand that selling a diamond ring online comes with an entire host of risks and obstacles.
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Sell Your Wedding Ring
Like with engagement rings, Worthy can help you sell your diamond wedding ring online for the best prices offered on the market. Oftentimes people who have an engagement ring to sell will also have a wedding ring to sell as well. You can sell both items together as a bundle or separately, depending on your own unique situation and whatever timing works best for you.