How to sell an engagement ring?
You would like to find out how selling an engagement ring works? Well, first we would like to tell you some basic knowledge about engagement rings. Normally engagement rings are made of white gold, sometimes yellow gold and platinum and rarely made of silver. Let’s just speak about gold and platinum engagement rings because silver rings don’t reflect a significant value. So, let’s say you own a gold or a platinum engagement ring you would like to sell. How can you sell such an engagement ring for a gorgeous amount? We have listed some advices that you should consider before you are going to sell your ring. Are you ready? Let’s start working on your project.
Figure out what you own and how much it’s worth before you offer your engagement ring for sale
Nearly almost all engagement rings were gifts from a special person you love or you have loved. Most people who are looking for a “how to sell an engagement ring” guideline left hard times behind. Maybe you are divorced and you would like to get rid of some bad experiences? Maybe you need some money to pay for attorneys? Or maybe it’s just to come to terms with your past. For whatever reason you are looking for an engagement selling guide, your target should be to get paid a very high amount for your engagement ring.
It’s not that simple to figure out how much your engagement ring is worth, because engagement rings are almost always gifts and come without a bill of sale or a certification of authenticity. Some people have such paperwork handy, be glad if you are one of them, because this makes an evaluation easier for you.
How to sell an engagement ring: step 1 – evaluation by yourself
Run an evaluation by yourself before you search a jewelry buyer. An engagement ring evaluation can be done at home. You just need to find out some facts. Nearly almost all engagement rings come with a diamond solitaire or with some more diamonds. You can find out the diamond’s carat if you have a certification handy. Look at the markings if you don’t have a certification. Very often, you can find diamond information as an engraving on the inner surface of your ring. With this information, you are able to calculate the value of your diamonds by using a diamond calculator. Please consider that a calculation by yourself is just a benchmark for your comparison.
Very important information for your diamond evaluation: 1 diamond is worth more than a couple of smaller diamonds, even when the smaller diamonds weight more carat in total than the single diamond. It’s because a large solitaire diamond is rarer than a couple of smaller stones. The next step is finding out more about the precious metal content of your engagement ring. Gold rings are normally made of 14K gold or 18K gold, platinum rings will be normally made of .950 platinum. Figure out what you have and calculate the value by using a gold calculator.
Calculation doesn’t work for designer rings and high prices brands
Most engagement rings are unbranded and were sold by jewelers or goldsmiths. You can unlock their value by proceeding like we told you. But this doesn’t work for designer rings or rings made from high priced brands. An unbranded 1 carat diamond engagement ring will be sold for less than a designer ring made from Tiffany, for example. But what can help you out? Sorry, but nearly nothing. You just have one option: shop around and compare the buyers. And also consider online jewelry buyers as an option for you. It’s commonly known that they offer very competitive prices for engagement rings.
How to sell an engagement ring in your town?
You can sell engagement rings with gold buyers, jewelers, pawn shops or jewelry galleries. Further selling options are flea markets, garage sales or neighborhood markets (suitable for not very valuable rings) or maybe also craigslist. Craigslist is an option but keep in mind that you maybe have to deal with strangers. If you try this option, meet prospective buyers only in public. Meet them at Starbucks, Mc Donald’s or other coffee spots to avoid robbery or other danger.
The better way is asking local dealers for a price quote. Shop around and beware of unreliable dealers asking YOU how much money you expect. It’s the dealers turn to tell you how much he is willing to pay for your engagement ring and not yours.
How to sell an engagement ring online?
You can send your engagement ring online to companies like reDollar. Some online buyers do a great job. Just get sure that you found a reliable place. A sign for reliability is the publishing of daily quotes for gold and diamonds. We highly recommend you selling with reDollar.com – an honest expert for jewelry and other high priced assets.
Don’t sink your engagement ring in a moment of anger
Can you imagine that many ladies are sinking or destroying their engagement rings in a moment of anger? We know a lady sinking a 3 carat diamond engagement ring in a knee-jerk reaction. She was not used to the value of her sunken stone and found out some days later what she did: she has thrown away 40,000 bucks. She hired a metal detector diver to search for the awesome white gold ring but it was too late. Her ring is lost forever. Don’t go that way and sell your engagement ring. But compare the offers carefully before you finally agree.