While an online ring buyer is likely best, you have several options for selling an engagement ring:
- Local jeweler or diamond exchange.
- Local cash for gold/silver/diamond store.
- Local pawn shops.
- Jewelry auctions.
- Consignment shops.
- Marketplaces like Etsy and eBay.
Secondly, do engagement rings have resale value?
In most cases, a diamond engagement ring or other diamond jewelry will have a resale value of between 20 and 60% of the amount it cost when it was new.
Correspondingly, how do I find out how much my ring is worth?
If you want a solid answer to the question “how much is my ring worth,” your best option is to get it appraised. A qualified professional has the proper skills and education to evaluate the jewelry. This way, you’ll know exactly what you should be asking for it should you want to sell it.
Why diamond has no resale value?
This is because they buy their diamond pieces in bulk, and this secures them the wholesale rate. This does get them more products at a lower cost, but it also introduces markups. By the time the jeweller buys the diamond from the manufacturer, It is finished in terms of cut, clarity, colour, and carat.
What do you do with engagement ring after break up?
What To Do With An Engagement Ring After A Breakup?
- Keep The Ring. Everyone feels differently after a divorce. …
- Turn The Ring Into Another Piece Of Jewelry. Turn the ring into a new piece of jewelry to symbolize a new start in your life. …
- Return The Engagement Ring. …
- Sell Your Engagement Ring.
How much money do you get if you sell a diamond?
Diamonds resell for 25% to 50% of their purchase value. So if you purchased your diamond jewelry for $1500, the resale value will be somewhere near $855-900, depending on the buyer’s preferences.
How do I value my diamond?
To calculate diamond price, first, choose a color grade (leftmost column) and a clarity grade (top row). Next, multiply the number shown at their intersection by 100, then multiply that number by the carat size. For example, an I-color grade, VVS2-clarity grade diamond would cost $3,000 per carat.
How much can you sell a 1 carat diamond for?
This is evident when you look at the average retail prices of diamonds by carat weight. On average, the retail price for one carat diamonds can be anywhere between $2,000 to $16,000, and between $8,000 to $72,000 for two carat diamonds .
Why are engagement rings appraised so high?
Why is my Diamond Ring Appraisal So High? Appraisals will usually give an inflated value of the ring, usually up to 100% higher than the retail value. As appraisals are primarily used as a source for insurance companies, it allows such companies to charge a higher premium to insure your jewelry.
Is now a good time to sell diamonds?
Also, if you are on the fence as to whether now is a good time to sell your diamond, the answer is yes. Diamond prices are up at about 30% over the past couple of years (keep reading to learn why).