Hopefully, we’ve convinced you that selling your engagement ring is nothing to feel guilty about and a great way to make some easy money. To get a good picture of its True Value you need to understand how professional diamond graders, gemologists and jewellery specialists assess the value of a diamond engagement ring. So we wondered: How should you sell fine jewelry online? You get to choose the minimum sale price, so the risk is minimal, but you could end up with a much higher price than the one you’d originally expected. How Much Can I Sell My Engagement Ring For? But still, don’t let it discourage you – even a modest amount of money is more useful than an old piece of jewelry you never use or look at. Our list is by no means inclusive but gives a peek at some of the more reputable companies that buy engagement rings and hold our trust. They also tout the ability to send your engagement ring via free and fully insured shipping, both in the US and internationally. To a diamond buyer, therefore, the $10,000 ring with a setting that cost $4,840 doesn’t have the same value as a simpler solitaire setting with an inexpensive $245 setting but a much larger diamond. They also boast positive reviews and affiliations. Auction houses have highly knowledgeable jewelry and diamond experts who can evaluate your engagement ring. We’re going to talk you through each of the different options available to make sure that you have a clear understanding of where the best place to sell your engagement ring is and how to get the most for it. With over 150 years of combined experience, our experts are able to comment on trends, share industry knowledge and provide diamond, designer jewelry and luxury watch education. If you can find a local jeweler who will buy your ring, they will normally sell it to a dealer who then will sell it to a wholesaler. Get Your Offer Now! There are many factors that go into a diamonds worth, including cut, clarity, weight, and carat. Firstly, one thing to know is that appraisals are almost always higher than the actual value of the ring. While this report is older, it doesn’t mean this doesn’t continue to happen. When reselling your diamond, you are selling it back to an industry that doesn’t make big mark-ups on new diamonds, let alone resold diamonds. This does, of course, have a lot of variabilities, but it’s good to go in without expecting to make a ton of money. To test which jewelry buyer was the best, we offered each of the six types of jeweler exactly the same ring, and provided exactly the same information. There’s also the issue of taxes. The appraisal fees depend on the carat weight of the diamond, but you can expect to pay about $200 for this entire process of appraising your stone. Worthy calls its commissions ‘success fees’ and these are payable only when a successful transaction is completed: In this case, the commission would be $440, leaving just $1,540 for the person selling the diamond or engagement ring. No fees or commissions! Learn How to Calculate Diamond Prices So You Don't Get Ripped Off & Overpay. Blue Nile will send you a paid shipping label to return the ring. You can sell your engagement ring via WP Diamonds, Worthy, or Truval with relative ease. Plus, if you’re selling to a broker or retailer hoping to sell the ring to another diamond buyer, they’ll expect to make a significant profit themselves by buying low and selling high.
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