Need to sell an engagement ring? You've come to the right place! Follow this simple guide to get started:
Have been wondering how to sell an engagement ring online? We’re here to help! In this article, we cover some of the common questions our clients have had when selling an engagement ring online via our “Sell Jewelry From Home” service.
While this article was written for people who wish to sell their engagement rings online, the questions and answers hold true for anyone looking to sell an old engagement ring for a fair cash price.
1) What kind of engagement ring brings the highest cash offer?
There a variety of factors that can impact the cash offer for an engagement ring. The important thing to keep in mind is that the value of your engagement ring is based primarily on the quality and carat size of the center diamond.
In most cases, the band of the engagement ring will be melted down and sold at scrap prices. The exception to this rule is when your engagement ring has been manufactured by a highly sought-after fine jewelry brand like Tiffany & Co., Harry Winston, or Tacori.
2) Why is my cash offer so much less than the retail price of my engagement ring?
When people sell an engagement ring online, they are often surprised that they are not receiving a cash offer closer to the retail price of their diamond ring.
When selling an old engagement ring, it is important to remember that the retail price of your diamond ring was likely at least triple the manufacturing cost. This usually holds true even if you bought your engagement ring online or at advertised “wholesale” prices.
3) Will I get a cash offer close to the appraisal value of my engagement ring?
In most cases, the answer is no. If your diamond engagement ring came with a “replacement” appraisal or was appraised for insurance purposes, the appraisal value is the retail value of your diamond ring. And, as we mentioned previously, the retail value of an engagement ring is usually 3 times more than the manufacturing cost.
However, if prior to selling your engagement ring online, you take the ring to a jewelry appraiser and ask for a re-sell price estimate, you usually will be able to receive a cash offer that is close to that price, depending on the accuracy of the appraisal.
4) Can I sell my engagement ring for a good price even if the diamond is not certified?
Absolutely! You can sell an engagement ring to our online jewelry buyers, regardless of whether or not it has been set with a certified diamond. However, if your engagement ring does include diamond certification papers from a respected gems lab, such as a GIA (Gemological Institute of America) Diamond Grading Report, let us know because this will make it much easier for us to evaluate your engagement ring’s proper value.
5) How can I learn more about the quality & value of the diamond in my engagement ring?
It’s important to be an informed seller when planning to sell an engagement ring online.
When it comes to learning about your diamond, you want to learn more about the 4Cs (Carat, Cut, Clarity, and Color), which are the four aspects that impact your diamond’s resale value.
The most important thing to keep in mind is that diamonds which yield the highest prices have the following 4 characteristics:
- They have a popular cut (like Brilliant)
- There is a clarity grade of VSI or better
- The color grade is G or better
- They are the size of 1 carat or more
6) What can I do to get a better price when selling my engagement ring online?
Diamond Estate Jewelry Buyers usually can get you more cash for your engagement ring, if you can include other bridal jewelry with your diamond ring. For example, a matching wedding band or bridal earrings.
7) How safe is it to sell my engagement ring online?
Selling an engagement ring online to Diamond Estate Jewelry Buyers is highly secure and involves no risk whatsoever. We provide you with free FedEx Overnight shipping and every diamond ring shipped to us is insured to its maximum value by Parcel Pro, a UPS Capital Company which specializes in insuring high-value jewelry, diamonds, and gemstones.
If you decline our final cash offer for any reason, we will be happy to ship your engagement ring back to you at our expense.
One final note. We encourage every client to make a careful decision when choosing whether to sell a diamond engagement ring online. You want to be sure that you when you sell your engagement ring that it’s the right decision and the best decision for you.
8) Can I sell my engagement ring online at eBay?
While some people have success selling a diamond ring on eBay, many more are not so fortunate. The reason so many people find it hard to sell an engagement ring on eBay is that the world market is full of synthetic and low-quality diamonds. Potential buyers are therefore legitimately worried about buying a fake or low-quality engagement ring online.
Sellers who are successful at selling an engagement ring on eBay are usually private individuals who have a long track record of successful sales and high ratings, or professional jewelers with a brick and mortar store.