How to sell diamond rings

How to sell diamond rings

When selling your diamond ring, diamond engagement ring, or diamond wedding ring there are probably two main thoughts running through your mind:

  • How much is my diamond ring worth?
  • Who can I trust to give me what it’s worth?

When you are ready to sell a diamond ring, especially if this is the first piece of jewelry you’ve ever sold, not knowing what you don’t know can often leave you frozen in the decision-making process. We understand and have loaned our expertise to help thousands of individuals through the process of selling their diamond ring and diamond jewelry for its true value.

Ready to sell your Diamond Ring? Get a Free, Fast, & No Obligation offer!

How to Sell a Diamond Ring

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Where To Sell Diamond Rings For The Most Money?

There are several options available when it comes to selling your diamond ring or diamond engagement ring. You can take a detailed look at some of the major selling outlets including jewelry store, pawnshops, local jewelers, eBay, craigslist, consignment stores, and more: Where to Sell Your Jewelry: Selling Outlets Examined. While there are many selling options available, not all options will provide the best price. Selling to a trusted diamond and jewelry buyer will ensure you receive a fair price for your jewelry and are 100% confident in your decision. Having a trained GIA appraiser evaluate your diamond ring will ensure you receive top dollar and the most value for your ring.

At Diamond Buyers, we’ve taken the complication out of selling your diamond ring and made the selling process as simple as possible. Whether you live close to our Houston location or out of state, our process is simple, transparent, and straightforward. We have trained GIA specialists on staff that will walk you through the entire process to ensure you are confident in your decision to sell. If you decide not to sell, no worries. There are no fees for a diamond evaluation and you are under no obligation to sell.

Sell you diamond ring to Diamond Buyers in two ways:

1. Sell your Diamond Ring in Houston

How to sell diamond rings

Although we buy wedding, engagement, and diamond rings nationwide, our headquarters are in Houston, Texas. If you are local to the Houston area, we welcome you to stop by our gorgeous showroom and jewelry store for a free diamond valuation. Our trained GIA gemologists are ready to evaluate your diamond ring and make a cash offer. We also accept appointments.

2. Sell Diamond Ring Online

To get started, simply fill out our online form and receive a free preliminary offer.

U.S. Coins and Jewelry has been buying engagement rings, diamonds, and other fine jewelry since 1985.

Our staff consists of highly trained GIA gemologists who have extensive knowledge in evaluating diamond jewelry.

How to sell diamond rings

Why Sell Your Wedding or Engagement Ring?

Circumstances change, people change, and sometimes what was right once isn’t now. 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.

Selling your engagement ring or just selling the diamond (and keeping the setting) can free up cash or possibly allow you to buy a larger diamond or restyle your engagement ring. The process may feel daunting, but the opportunities are endless, but one thing is certain selling your engagement ring can be a freeing experience.

Selling can take as little as 24 hours from start to finish, with no fees or costs involved and no obligation to sell. We make the process of selling your engagement ring an easy and rewarding experience.

Determining the Value of Your Ring.

Our staff of GIA-trained gemologists evaluates each piece of jewelry based on the following criteria:

Color • Clarity • Carat • Cut

Your ring will also be evaluated based on proportion, diamond shape, and market liquidity. For more information on how to evaluate your diamond before you sell, visit our blog on the 4Cs.

Regardless of shape, size, cut, and clarity, our expert gemologist will evaluate your jewelry and provide a true market value offer.

How to sell diamond rings

Diamond jewelry can be difficult to part with, especially items we have worn daily for years, such as wedding and engagement rings. Although some diamond pieces may only be sparkling status symbols, most have sentimental value, which makes them difficult to part with. This is why, when the need or desire arises to sell your diamond jewelry, it’s helpful to have someone to support and guide you through the process. That’s where Worthy comes in.

Why Sell A Diamond?

There are many reasons a person may decide to sell their diamonds for cash. Sometimes it stems from the need for funds to go towards education, home renovations, or paying off debt. Others inherit antique pieces of jewelry that don’t fit or feel right or perhaps just don’t fit a person’s individual style. When this happens, the jewelry can begin to feel like clutter rather than a reminder of a loved one.

Holding onto sentimental jewelry items can be a wonderful feeling when it is attached to a particular memory or person, and the item is still wearable. However, there may come a time when you decide that photographs are enough.

In other cases, diamond jewelry can represent something from one’s past that they would rather put behind them. For many in this type of situation, selling diamond jewelry would certainly serve you better than continuing to hold on to the item.

While selling your diamond jewelry may seem lucrative, it’s not as simple a transaction as selling something like gold. While gold has a quantifiable melt value, the resale prices for diamonds do not have just one objective measure, making the whole process overwhelming for those who are not professional gemologists or appraisers.

Selling Diamonds Online

When you think of selling your diamonds for cash, you probably think of heading to a pawn shop or local jeweler. This seems like a straightforward and uncomplicated option, right? Besides, where else would you go?

You can actually sell your diamond jewelry a few different ways, and believe it or not, you can actually get more for it somewhere else.

Why Selling Locally May Not Be the Answer

While you may be tempted to go to your local jeweler, you should take into consideration that they, as trustworthy as they are, have a business to run. The likelihood of your local jeweler giving you a high offer is entirely dependent on the conditions of the market and the popularity of your jewelry style at any given time.

The buying power of a single buyer, especially one who is in the business of selling jewelry, is quite limited. It is likely that you can lose money when you sell to a local jeweler, and even more so with a local pawn shop.

Easily and Safely Sell Diamonds Online & Make a Bigger Profit

In contrast to working with only one seller, when you work with Worthy, you are able to obtain offers from many buyers, who will ultimately compete for your diamond in our diamond auction. So, when you are searching for diamond buyers or jewelers near you, know that Worthy brings the market to you, no matter where you are.

Worthy will also guide you through the entire process, making sure you understand and approve every move. We want to see you get the most for your jewelry and feel good about the decision to sell, without any pressure. Pressure is for making diamonds, not selling them.

Plus, Worthy provides full insurance coverage for every shipment. We trust the insurers at Lloyd’s of London, a global leader in insurance since 1688, to protect all valuables auctioned on our platform.

Click here for more about our item protection policy.

Diamond Auctions at Worthy

Worthy places high value on trust, full transparency, and complete customer satisfaction. We want you to feel comfortable sitting back and letting us handle the details. That’s why we clean, polish, and take photos of your diamond for you, along with getting it appraised by a qualified professional. Then, we use our one-of-kind auction platform to get your diamond in front of hundreds of professional, international buyers.

Learn more about our auction platform and how the auction process works.

Luxury Item Protection

Choose A Trustworthy Diamond Buyer

When you sell diamond jewelry, it is crucial that you feel 100% confident with the method you choose. Making sure that your provider has a good TrustPilot rating is a good place to start.

Worthy has an excellent Trust Pilot rating and holds a Second hand Dealer’s License issued by the New York City Department of Consumer Affairs. More importantly, we only trust the best in the business to carry out diamond gradings – GIA (Gemological Institute of America).

By choosing the Worthy network, you can rest assured that you are selling your diamonds according to US government standards.

Worthy is also 100% objective and transparent throughout the entire selling process. Since we are not the ultimate buyer of your diamonds, all estimates and evaluations are solely for the purpose of providing accurate information to both you and the buyers bidding on it. It is the network of professional diamond buyers that will determine the value of your diamond.

How To Sell Online With Worthy

Free Secure PickupDescribe your valuable and schedule a secure shipment. Your valuable will be shipped to our offices via FedEx and fully insured by brokers at Lloyds of London.

We Do All The Work – Once your item arrives at our offices, it is screened and put into our secure tracking system.

We get your valuable ready for auction by carefully cleaning it and having beauty shots taken by professional photographers.

Then it’s off to be graded by an industry-leading diamond lab like GIA, GSI, or IGI. Watches are inspected by Central Watch in NYC.

Now it’s time to create an auction listing, complete with the lab grading and beauty shot.

Set your reserve price, either by using our recommended price guarantee or setting a manual reserve price.

Start your auction!

Get paid – As offers from vetted professionals come in, you decide what offer to choose. Once the auction has concluded, you will receive the final sale amount minus our commission. Choose a payment method and get paid fast.

How to sell diamond rings

There are many reasons to sell a diamond. You may be selling a diamond ring or an engagement ring after a divorce, looking to raise cash to help fund your education or simply parting with a piece of jewelry you no longer wear. Whatever the reason, selling your diamond for the best price and to a reputable buyer will be your top priority.

Get answers to the following questions:

How to sell diamonds online?

The process for selling online is simple:

  1. Choose a reputable buyer
  2. Get a price quote
  3. Receive a free, fully insured overnight shipping label to send your diamond in
  4. Get a final price and get paid.

It’s as simple as that.

Is it safe to sell diamonds online?

Absolutely. As long as you work with a trustworthy buyer, the process is fast, safe and secure. The upside of selling your diamond jewelry online is that it allows you to sell to international buyers with access to global diamond prices. While you may be tempted to a local buyer, they will not likely have the expertise, buying power or industry connections to offer the best prices.

At WP Diamonds, we are professional and trustworthy diamond buyers established in New York in 2012. We now have offices around the world including in the UK and Hong Kong. We pride ourselves on our excellent customer service and offering an elevated way to sell diamonds. Our professional and streamlined service has earned us an A+ BBB rating as well as hundreds of customer reviews. There are no fees or commissions taken from our final offer and our price ranges are always honest and transparent. We fundamentally believe that the process of selling diamonds should be as professional and enjoyable as the process of buying diamonds.

Where to sell diamonds safely?

With so many different online diamond buyers available, how to choose the best one? We recommend working with a potential buyer that meets the following criteria:

  1. Has an A+ BBB rating
  2. Has credible online reviews from previous customers
  3. Has a physical office that you can visit
  4. Has been in business for a number of years
  5. Offers a free service, with no hidden fees or commissions deducted
  6. Has GIA (Gemological Institute of America) trained gemologists on staff
  7. Offers free returns, should you not accept your final price
  8. Provides free price quotes

Thoroughly research any diamond buyer before you begin working with them. Check their accreditations and reviews.

How to get the best price for a diamond?

Tips for getting the most money for your diamonds:

  • Know what you have: consult any paperwork you have on your diamonds. This could be a diamond certificate or diamond grading report (GIA, AGS, EGL …), insurance appraisal or jewelry appraisal.
  • Choose trustworthy diamond buyers: Work with buyers that will not lowball you once you send the diamond in. Trustworthy buyers with a strong reputation will not offer misleading price quotes and then offer low prices when you send it in. Check a buyers BBB ratings and online customer reviews.
  • Work with diamond experts: Some of your local options may not have the expertise in gemology to be able to offer a strong cash price. It pays to sell to the experts. This is especially true when selling colored diamonds. Rare diamond colors such as red and blue diamonds require specialist and in depth gemological knowledge. They also require a thorough understanding of market trends and market prices.

Factors that affect the value of a diamond

Regardless of the type of jewelry that you are selling, in most cases the largest diamond will hold the bulk of the value of your piece. The selling price of a diamond will be largely determined by the 4 C’s of diamond grading:

You are looking to sell your diamond but are not sure who would be willing to buy it? This article is meant to help you find the best way to sell your diamond. Let’s see what options you have and how you should choose the one that is most suitable for you.

Finding the Best Option for Selling Your Diamonds

The best way to sell your diamonds depends on your goal: Do you want more money even if you have to wait, or do you need to sell your diamonds quickly even if that means you could get paid less?

How to sell diamond rings

Another important consideration is whether you want to get cash for your diamonds or you would be willing to exchange them for another piece of jewelry.

Let’s take a look at the best options to sell your diamonds for cash, and then see what you should do if you simply want to exchange them for jewelry.

Selling Diamonds for Cash

The main options you have to sell your diamonds for cash are through a diamond dealer, retail jeweler, or an auction.

Diamond dealers are the best choice if speed is essential.

These people specialize in buying and selling diamonds, so they will offer you a deal quickly and execute it swiftly if you accept.

The downside is that you might get less money than you would if you sold the diamonds to a retailer or at an auction.

Jewelry retailers could offer you a higher price for your diamonds than dealers would, but that’s not a given.

It is true that by selling to jewelers, you skip the middleman wholesale dealer, but not all retailers actually buy diamonds. And many of those that do might not offer you a price that is much better than the one you would get from a dealer.

Some jewelers might agree to display your diamonds in their store for a fee, and you might be able to get a higher price than with other options. However, it may take a long time before someone buys your stones.

In general, going to jewelry retailers is the best way to sell your diamonds if you are not in a hurry and have the time to ask around and negotiate a better price or to wait for your stones to sell.

An auction is another option to sell diamonds. It can be arranged through an auction house, a jewelry store that offers such services, or a website such as eBay.

Generally, an auction is the best choice if your stone is unique in some way or has some antique value.

How Much Cash Can You Get for Your Diamond?

You are not likely to be able to sell your diamond for as much as the price of a similar stone at the store.

In general, you should expect to get about 20% of a diamond’s retail price, depending on where you sell it. Diamond dealers and jewelers buy diamonds wholesale, and they will not offer you a price that is higher than what they pay their suppliers.

Auction sales have the potential to fetch a higher price, but this is highly dependent on the stone, and especially, on its uniqueness.

Options to Exchange or Trade In Your Diamond

A lot of jewelers that won’t buy diamonds for cash would be willing to accept your stone in exchange for store credit that you can use to buy jewelry at the store.

Even retailers that are willing to pay cash for diamonds will usually give you a better deal if you agree to trade in your stone for a better diamond or another piece of jewelry.

So, if you think you would want to buy jewelry with the money you would receive for your diamond, the best option to get the most value for your stone would be to exchange it at a store that accepts trade-ins.

The exchange option might give you the best value if you go to the store where you bought your diamond, assuming it has an exchange policy. So, this would be the first place to check before you try any other jewelry shops.

Selling your diamond ring is a great way to earn some extra cash. Whether it’s because you no longer want it, it reminds you of a past relationship or you simply need the money, it’s important to know about your ring. The more you know about the setting and the diamond itself, the more you can earn – and avoid being taken advantage of.

How to sell diamond rings

Know the Setting

Find out about the ring that you have. Silver, gold and platinum are all valued differently – with platinum being the highest.

If you aren’t 100 percent sure what you have, take it to a jewelry store and ask for an appraisal.

This will ensure that when you go to sell the ring, someone isn’t telling you that it’s silver when it’s actually platinum.

Learn about the history of the ring, if possible. For example, if you bought it at an auction and it actually belonged to royalty, this is going to add value to the ring.

You will need to bring documentation with you, however. No one is going to take your word that it belonged to the Queen of England unless you have the proper paperwork.

Vintage settings can be worth more because their style is a hot trend and few jewelers are using those settings any more. Any kind of documentation that you can bring to help the jeweler date the ring will be helpful.

Rings from well-known brands, such as Tiffany, can fetch better prices that non-branded rings.

Know the Diamond

You have to know about the diamond you’re trying to sell. There’s a difference between a low-clarity white diamond and a yellowish one.

Remember the 4 Cs – cut, color, clarity and carat weight. You should find out what your diamond’s grade is on each of these criteria before you head into any kind of jewelry store.

If the ring’s diamond has a diamond report/certificate issued by the GIA or another gemological lab, it will provide additional evidence as to the quality of the stone.

If you were the one who bought the diamond, you may have the original certificate on it. If so, bring the document with you and make sure that the money you get is commensurate with the stone’s quality characteristics.

If you don’t have a certificate for the diamond, it may be a good idea to get your stone appraised or get a diamond report for it from the GIA by sending the diamond for valuation.

Know Where to Take the Diamond

You can take a diamond ring into a pawn shop, a jewelry store or a diamond/jewelry dealer.

Each one is likely going to provide you with a different value on the ring and offer you a different amount. You will want to go with the highest bidder, so it’s a good idea to visit a few different places.

You can offer your diamond jewelry for sale at an online auction — for example, you can send it to Worthy, which is a service that organizes online jewelry auctions, and they will sell your jewelry for you and send you the money when it is sold.

A pawn shop is probably going to give you as little as possible so it can turn a profit. This is because the shop will likely resell your piece to a jeweler or someone else who will want to buy it at a huge discount to the retail price.

The people at a jewelry store are likely going to keep what they like from the ring and melt down what they don’t. Therefore, you might not be getting your full potential. However, you’ll likely be getting more that at the pawn shop, as the jewelry store is closer to the end customer, to whom your jewelry (or parts of it) will be ultimately resold.

A diamond/jewelry dealer specializes in buying diamonds and/or used jewelry and is likely to offer you the most money for the stone, or at least close to what a jewelry store would give you. Some of these dealers operate online.

The above are general recommendations. You should get different offers and compare them to see which one gives you the best price. It’s not impossible for a pawn shop to offer you a better price than a jewelry store, for example, and not all jewelers buy used jewelry.

Selling Tips Checklist

In order to get as much as you can for your diamond ring, keep these tips in mind:

How to sell diamond rings

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How to sell diamond ringsYour engagement ring is likely worth a good amount of money. This means it is important that you have knowledge about your ring when selling, to ensure that you make as much money as possible. There are many different options that you will have when it comes to selling diamond rings. One option is that you can sell it on your own. Or you also have the ability to sell the ring to a diamond buyer either locally or online.

If you decide to sell your ring on your own, you should understand that this can be difficult. Many people are not willing to purchase a diamond off of someone because they are not sure if it is real or not. This makes using a lot of the popular auction websites difficult for expensive items like diamonds. Most people are not purchasing diamonds from individuals, so I would recommend using a diamond buyer.

How to sell diamond ringsOnline diamond buyers are the best option. They pay more money than any other types of diamond buyers and offer a more convenient service. You can check out the other page on the site to find out more about how the process works and what you can expect. These organizations have built their reputations over the years by providing a quality service that was once only available locally.

The local buyers are not the worst option, but you will earn less money. This is due to the higher costs, and inability to provide an accurate valuation. In order to remain profitable, the local buyers will need to offer their customers a much lower valuation. The good thing about the local buyers is that they can put the money in your pocket that same day, still making them an attractive option.