How To Sell An Engagement Ring: A Comprehensive Guide
Are you in the market to sell your engagement ring or would like to learn more about the process?
This Guide will teach you everything you need to know about selling an engagement ring. Our staff at Diamond Exchange Houston deals with dozens of customers every week that are in the process of selling their engagement rings.
If you want a FREE Estimate on the value of your engagement ring then simply fill out our contact form today.
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Why Would You Want to Sell Your Engagement Ring?
There are many reasons you might want to sell an engagement ring. Perhaps it’s a symbol of a relationship that didn’t work out, or maybe it’s an inherited piece that doesn’t match your style. You might be looking to upgrade your current ring or just in need of some extra cash.
No matter the reason, your engagement ring can offer significant resale value, particularly if it’s a diamond engagement ring. Fine estate jewelry, diamond rings, and other pieces crafted from precious metals often retain their value well, especially if they feature high-quality diamonds or precious stones. Selling your engagement ring, therefore, can be a practical decision, turning an unused item into cash.
Where To Sell An Engagement Ring?
There are several different options as well as places to visit when it comes to selling engagement rings. We want you to get the most when you sell your diamond jewelry which is why we want to cover the options available to you. Below are different outlets to consider:
1. Local Jewelers or Pawn Shops
You can take your diamond ring to a local jeweler or a pawn shop. These are good options if you’re looking to sell your engagement ring quickly. Do a simple Google search of something like “Diamond Buyers Near Me”. This will bring up a list of places that are local that will purchase engagement rings and it will also display their Google Reviews. Gather a list of multiple places and take it around to several and get multiple offers. Keep in mind, though, that while you may get fast cash, you might not get the best price because there are also other options available to get you maximum value.
Diamond Exchange Houston is a local jewelry store and we have people everyday that visit us to sell, appraise, and evaluate their jewelry items. We also can offer FREE estimates over the phone if the person has enough information on the engagement ring and diamonds. To set up an appointment for a FREE evaluation simply fill out our contact form or call us today at 281-623-1105.
2. Online Marketplaces
Platforms like Facebook Marketplace or eBay can be good options. You can set your own price and negotiate directly with potential buyers. However, there are a ton of scammers on these platforms to you need to consider the safety of these transactions. Customers are very unlikely to buy expensive jewelry from private sellers on online marketplaces, but it is worth a try. We always encourage customers to sell their engagement rings online and if they are successful then they can come and work for us and sell our rings.
3. Jewelry Consignment
If you are not in a huge hurry for the money and would like to get maximum value then you should consider selling your engagement ring on consignment. There are a few places that offer jewelry consignment and you will have to do your due diligence to find our which company you will be comfortable working with. In our consignment program we have allowed our customers to get thousands of more dollars for their ring compared to selling it outright the same day. To learn more about this service we offer please visit our jewelry consignment page.
4. Online Diamond Buyers
There are many places online that will offer to buy your engagement ring. These places will often offer you a “soft quote” online or over the phone in hopes that you will mail your diamond or engagement ring to them. Once they receive your ring they will offer you the “real estimate”. We tested a company called Worthy.com to see how their process worked. We had a 1 carat GIA-certified princess cut in a ring that we sent to them. When we originally spoke with the representative at Worthy we were told that the ring had a chance at selling for $4,000. When mailed the ring to them and we received a final offer of only $1200. We quickly declined the offer and they shipped us back the ring. The good part about working with Worthy is that they provided insured shipping through FedEx and we got the ring back. The bad part about working with these companies is that you will not know the official buying price until they receive your engagement ring and inspect it.
Sell Your Engagement Ring Online!
One of the best ways to sell your engagement ring to get the most money is to find an online diamond buyer. The reason it can be considered on of the best ways is because you open yourself up to a huge network of diamond buyers. If you only shop your diamond ring around locally you will only expose your self to a very limited group of buyers.
By selling your engagement ring online you are able to access a wide array of diamond dealers that can potentially produce a lot more cash in your pocket. However, when selling jewelry online you need to find a company that is very trustworthy. When a customer thinks about shipping their ring across country to someone they have never met it can be nerve racking. Diamond Exchange Houston has an excellent track record of taking care of our customers and that can be seen in our 5-star Google reviews and testimonies.
Diamond Exchange Houston can provide you with an estimate online and over the phone before you decide to sell your engagement ring to us. To get started with a FREE estimate just simply fill out our contact form or call us at 281-623-1105.
How Much Is Your Ring Worth?
When you go to sell your ring there are multiple things that we look at to determine its value.
- The Main Diamond: The majority of the value of an engagement ring is in the main diamond. What are the 4 C’s of the main diamond. If the diamond is large and has a great color and clarity then you are looking at a lot of money. If the main diamond is small and of low quality then it is not worth a lot.
- The Metal: Another factor to add to the worth of an engagement ring is the gram weight and type of metal that it is made from. There are different monetary calculations that are used based on whether the ring is made from 14k, 18k, or platinum.
- Name Brand: Certain designer brands of jewelry have a strong resale value. Brands such as Tiffany or Cartier might fetch higher buyout amounts versus a non-branded engagement ring.
- Small Diamonds: The small diamonds in an engagement ring setting are worth something, however, not much compared to the main diamond.
When you go to sell your engagement ring a diamond buyer will inspect your ring and pay you based on the materials of that ring. If you have a jewelry appraisal that says your ring is worth a certain amount it is probably an extremely inflated amount. How much your ring is truly worth is the value that someone is willing to pay.
What Types Of Engagement Rings Do We Purchase?
As professional jewelry buyers, we purchase a wide range of engagement rings. From simple solitaires to intricate vintage designs, we understand the unique aspects of different types of rings and how they contribute to the engagement ring’s value alone.
Here are some common types of rings that we buy:
- Diamond Engagement Rings– These are perhaps the most common type of engagement ring, and they come in a variety of styles. We purchase rings with different diamond shapes, sizes, and qualities. We also buy rings with multiple diamonds, such as three-stone rings and halo rings.
- GIA Certified Engagement Rings– If you have an engagement ring that has a GIA-certified diamond as the main stone then contact us today to sell it.
- Used Engagement Rings– One thing that we do not care about when we purchase jewelry is the condition of it. As long as the main diamond is in good condition and the setting is made from platinum or gold then we will be interested in buying it.
- Multi-Diamond Rings– If your ring has a lot of smaller diamonds then we will consider purchasing it. When a ring has a lot of small diamonds and does not have a main diamond then it is hard to make a strong offer to buy. Diamond rings are worth more if they have big diamonds in them
- Estate Rings– Do you own any antique rings and estate jewelry? We are estate jewelry buyers and will be glad to cover your options regarding selling estate pieces.
Get A FREE Estimate Today!
If you have an engagement ring that you are interested in selling then contact Diamond Exchange Houston today for a FREE estimate. You fill out our contact form or call us today to get started.
How to sell your engagement ring and get the most money?
Types Of Engagement Rings That We Buy:
- Diamond Engagement Rings (main diamond over 1 carat)
- GIA Certified Engagement Rings
- Used Engagement Rings
- Estate Diamond Rings
- Designer Engagement Rings
- Vintage Engagement Rings