Online jeweler Ritani has recently started adding information about the amount of money they make on each and every diamond on their website: On a 1 carat diamond that is being sold for $5,520, they make just $187.29 profit – just 3.4%. That said, most consumers pay retail prices, meaning that there’s an inherent mark-up. The price of gold doesn’t fluctuate significantly, so there is no benefit to waiting until the market rises. It’s important to note that custom-made jewelry from local stores and artists do not fall into this category. While it’s a financial loss to sell your ring for scrap gold, at least you are able to recuperate some of the cost. Make sure the website itself looks professional. An equivalent diamond (also 1.01 carat, G color, VS2, excellent cut) is priced at $5,084 at one of my recommended retailersRecommended Retailers: Despite this big difference in original price, these two diamonds would still be worth the same when it comes to selling them. This replacement value is the estimated amount of money that it would take to have the item replaced with an identically specced piece of jewelry. If a diamond buyer would usually pay $2,200 for a diamond of a particular size and quality, this won’t change whether the diamond is being purchased directly from a customer or through worthy.com. Buyers willing to pay the most for engagement rings are individual consumers who plan to use the ring themselves — not jewelry stores who plan to sell the ring to another customer. If you can connect directly with the consumer you can skip the middle man and keep his share of his profit. Abe Mor provides an appraisal of the ring so you have a ballpark estimate of how much you can expect. Free Secure Pickup - Describe your valuable and schedule a secure shipment. When a jeweler appraises a diamond ring, they will give a quote for the ‘replacement value’. Abe Mor uses the same process for buying gold jewelry as they do engagement rings, and you’ll receive 50% more with them than with pawn shops and local jewelry retailers. They also boast positive reviews and affiliations. No questions asked returns within 30 days of shipment. It’s impossible to time the market for gold prices, just like it’s impossible to accurately time the stock market. Independent jewelers are a better choice than chain stores in the mall in most cases. Instead of melting these rings, Abe Mor resells the actual setting. Almost everyone wants a specific, custom design. For gold, for instance, the typical company will pay you a rate of about 50 cents to a dollar of scrap value. The highest price we were offered was: $1500 – $2000. If you feel the appraisal was low, you could also get a second opinion. Our recommended diamond specialist is Alon Mor at ‘The Diamond Oak‘ – a third generation New York based diamond dealer who has an impeccable reputation for service and fairness. Free prong tightening, repolishing, rhodium plating and cleaning every 6 months, One free resizing within the first year of purchase, High quality images of about half of their diamonds, 100% credit towards future upgrades (must be at least double in value). A fake diamond will shatter, whereas a real diamond will remain intact. While there are many other places to sell an engagement ring online, we selected these three due to their ratings, affiliations with professionals (e.g. If you go through a professional, reputable resale vendor (we recommend Abe Mor), you will receive approximately 50% more than in a jewelry store or pawn shop. How Much Can I Sell My Engagement Ring For? In a test by a diamond industry publication, one diamond was graded as G color by GIA and D by EGL Israel: The GIA has graded this diamond much more strictly and it is likely that this is a more accurate grade. Choosing the halo setting would obviously have left a significantly smaller proportion of the budget to go towards the diamond: But when it comes to selling the rings, the ring with the solitaire setting and the larger diamond will be worth considerably more as it is the diamond, rather than the setting that is valued by jewelry buyers. This isn’t a perfect metaphor, but it’s close enough to explain why resale value is lower than replacement value. Do you have a round-cut engagement ring you’re looking to sell? And while diamonds ar... We guarantee the safety, security, and privacy of your valuables. Learn How to Calculate Diamond Prices So You Don't Get Ripped Off & Overpay. But this isn’t the amount that the seller would have actually received. And when it comes to style, the three most popular ring styles in our first-quarter auctions of 2019 were bridal sets, solitaires, and halo settings. No questions asked returns within 30 days of shipment. Popular eCommerce sites can offer these sorts of connections with individual consumers.
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