How to Sell an Engagement Ring
Circumstances, priorities, and relationships change. There are several reasons for selling an engagement ring–maybe you’re going through a divorce, she said no, or perhaps you have an old family heirloom you simply don’t want or need. Make light of a negative situation by profiting from your unwanted items. See how to sell an engagement ring.
Step 1: Consider Your Selling Time-frame
When it comes to selling an engagement ring, first consider how long you’ve had it. If you recently purchased an engagement ring that you now want to resell, you can probably recover most of your incurred costs. The ring should still be in style, making it relevant and still valuable.
If you’re selling an old engagement ring, have a perspective of how old it is. If your engagement ring is within a decade old, depreciation may become a factor. If this sounds like your situation, don’t worry. Although you may not get what you initially paid, you still have a valuable item that you can exchange for cash—and who doesn’t need more cash?
Rings over 10 years old could be considered “vintage” or “retro”, and you could get some decent money for it. To determine the real worth of your engagement ring, have it appraised. Better yet, have it appraised by multiple organizations so you can get a proper idea of its selling worth.
Step 2: Determine Your Selling Point
Before selling an engagement ring, figure out what your selling point is. Use that as your focus during your sale and get the most from your sale.
To determine your selling point, understand the ring features:
- Do you have a diamond, sapphire, ruby or another colored gemstone?
- What is the color, cut, clarity and carat weight of the main stone? What’s the total carat weight of all the stones?
- What is the ring style (art deco, vintage, modern, etc.)?
- Does your ring feature any embellishments? Consider both the ring setting and the band setting.
By knowing its features, you know what makes your engagement ring valuable. You can then play up those characteristics to profit more from your sale.
Ready for Your Free Estimate on your Engagement Ring?
Step 3: Research Your Selling Outlets
Once you know how much your jewelry is worth by considering your time frame, knowing your selling points, and getting it appraised, you can nail down a selling outlet. There are several options for selling an engagement ring. Consider selling your engagement ring to a:
- Friend or family member
You can also look for ways to sell an engagement ring online:
- Jewelry Buyer
Where Should You Sell Your Jewelry?
Despite the numerous opportunities out there, the best option would be to sell an engagement ring to a reputable jewelry buyer. Unlike pawn shops, professional jewelry buyers understand the market. They have the tools and experience to accurately appraise your piece and offer the best price for it.
Have an engagement ring you’re looking to sell? Our on-site GIA Graduate Gemologists provide free jewelry appraisals and can offer you the highest cash value for your engagement ring within one business day.