our How to Sell an Engagement Ring
The diamond buyers at San Diego Jewelry Buyers, San Diego County’s most prominent buyer of pre-owned diamonds, have put together the following list of tips and facts for women and men who want to sell engagement rings. Before you sell a diamond engagement ring, please take some time to consider whether the relationship is over. Feelings can change. Don’t make a rash decision to “sell my engagement ring” only to regret it later.
1) Unless your engagement ring is from a highly sought after brand such as Tiffany or Harry Winston, it is the diamond that holds most of the worth. The band itself will likely be melted down at scrap metal prices by the diamond buyer.
2) The retail price that was paid for your diamond engagement ring (even if it was advertised at “wholesale” prices) was likely at least triple the manufacturing cost.
3) It is often difficult to sell diamond engagement rings to those couples who are considering marriage, as the couple often considers the ring to hold bad karma.
4) If the ring was appraised in the past for insurance purposes, keep in mind that this was the estimated retail value, and will not be close to what you can expect from a San Diego diamond buyer. If you decide to get your engagement ring appraised before you resell it, be sure to tell the appraiser that you would like a re-sell (or wholesale) price estimate.
5) Be sure to include any diamond certification papers when selling your engagement ring. The most respected is the GIA (Gemological Institute of America) Diamond Grading Report, which makes it much easier for the buyer to evaluate your ring’s proper value.
6) You often can get a better price for your engagement ring if you can pair it with other bridal jewelry, such as a matching wedding band and bridal earrings.
7) Women who are now in the process of getting a divorce, wait until the divorce is complete before they sell engagement rings and other bridal related jewelry. Feelings among married couples often change at the last minute. And you don’t want to be in the position of losing your engagement ring and wedding band forever should you and your husband reconcile. If you are in need of money, consider using less sentimental jewelry as collateral for a cash loan instead.
8) If you are getting a divorce, but have a daughter (and are not in a difficult financial position), you may want to consider holding on to your diamond engagement ring and passing it down to your daughter–not as an engagement ring, but as a symbol of the love that you and your husband shared, which produced the most valuable treasure in your life: her.
9) Go online and learn about the 4Cs (Cut, Carat, Clarity, and Color), which determines the value of the diamond in your engagement ring. The rule of thumb is that your diamond will attract a higher price if it has a popular cut (such as brilliant); a clarity of VSI (very small inclusions) or finer; a color of G or better; and it is 1 carat or more.
For more info on how to sell diamond engagement rings, contact San Diego Jewelry Buyers for a free, no hassle, appraisal.
For more information on selling diamond jewelry for the most cash, go to our article: How to Sell Diamond Jewelry.
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