Where can I sell my ring for cash?

Maria, I have two rings here and I have to pay an unexpectet bill. Actually I would love to keep one of the rings. Can you tell me if one of my rings could sell for $200? And where can I sell my ring for cash? It’s not a big emergency but the bill is due in 2 weeks.
Rachel from Arvada in Colorado

Dear Rachel, I do my best to help you. Every day we get questions like yours. So many people think about selling or pawning rings or jewelry to cover unexpected expenses. Let’s see if your bill can be paid by selling just one of your rings.
reDollar appraiser, Maria Tait

Rachel wants to know, where can I sell my ring for cash?

Rachel: Hi Maria! I told you in my first email that I own a Tiffany & Co. silver ring and a gold ring. Both rings are in good shape. The Tiffany ring was a Valentines gift from my ex and the gold ring belongs to one of my relatives. I prefer selling my ex’s ring instead of the gold ring. How much are this rings worth and where can I sell my ring for cash. Just to let you know, I already offered my Tiffany ring to a gold buyer in Downtown. But the guys were not interested. “We don’t buy silver and even not if it’s made from Tiffany”, I was told. Maria, please tell me what to do.

Maria: Dear Rachel, I fully agree that Tiffany is a very nice and famous brand. Referring to your provided photos, I can tell you that you own a Paloma Picasso Love ring in sterling silver. It’s a nice piece and of course this ring has a value but maybe it’s not attractive enough for the local gold buyer that you have visited. Depending on the condition, such rings sell in an online auction, for $30 to $60. Then you have to pay for selling commissions and payment fees. I just can guess why they didn’t want to buy your ring. Maybe it’s because of the small transaction volume. But I don’t understand such philosophies because our company would buy such a ring. To be honest, you can’t expect to pay your bill by selling this silver ring but maybe you can go out and have some drinks with the money paid.

Rachel: I fully understand your explanation, that’s bad. And what about the gold ring? Can this ring pay my bill?

Maria: I’m pretty sure I have better news concerning your gold ring. I asked you to determine the weight with a household scale and to look for gold markings. You did a good job, thank you for your assistance. On basis of your given information I could find out that you own an 18K gold with a weight of 5.49 pennyweights. This gold ring is worth $247.03. The small mounted stone does not reflect a value. Maybe its weight reduces your payout amount in the range of $10. Not bad, isn’t it?

Rachel: Oh yes, I like your calculation and it would help me a lot. But Maria, where can I sell my ring for cash? I prefer to sell both rings.

Maria: I know that you need the money soon but you don’t need it today, right? It’s always good not to be in a very urgent need of money. Of course, I would recommend you to sell your jewelry with our company reDollar, but you have local options too. Gold rings like your ring can be sold to every gold buyer, to pawn shops, to jewelers and second hand dealers. You told me that selling your silver ring was not possible in your home town. Maybe you asked the wrong dealers. I guess a luxury Downtown dealer is not interested in your Paloma Picasso ring because the respective clientele wouldn’t buy it. Maybe you try your luck in a mall or in other shopping streets. But remember, your Tiffany ring is a nice item. Don’t sell it for the scrap value.

Rachel: What about pawn brokers?

Maria: Pawn brokers are also an option. They all lend money based on gold as collateral and they all offer cash for gold services. I think there you can offer your rings too.

Rachel: Thank you very much for your honest advice. I would try selling online by using your company. It seems to me that you pay the best price for my pieces. Is that right?

Maria: It’s our goal to offer the best prices for rings and other jewelry.

Rachel: Thank you very much, I start selling online right now.

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