You probably have never thought of selling your relationship token such as an engagement ring for any reason, but it happens more often than you think. Selling the ring may be a bittersweet experience since a relationship may end, your ring finger may change or even your taste. When this happens, it’s good to know you can sell it and generate some quick money. However, don’t just pick the first available offer. It would be best to determine the value of your ring for better pricing. Keep reading to gain more insight.
Things to Consider Before Selling Your Ring
Before pricing your diamond ring, it’s wise to determine what you have and how tempting it can be to any potential buyer. Note that engagement rings tend to be very personal, and your taste might not be someone else. Therefore, you need to be realistic in your sale.
Get a GIA qualified specialist to check your ring’s worth. At times, the ring may have lost its value, but the diamond increased in quality. Also, let them check if the ring has suffered wear and tear, and you can opt for a stone cleansing to make it more salable.
Additionally, a little bit of research will help you sell your ring faster and secure better deals. Look through various new rings similar to yours and determine whether you have a rare customized style, which may be an excellent point to mention to potential buyers. Also, browse through second-hand ring options to help you get a realistic estimation of how much people might be willing to spend on your ring.
Present the appropriate proof of purchase, especially if you bought it from a prominent jeweller and the grading certificate for the precious metal. The documents will put weight on your words, and buyers are more likely to trust you.
Determining the Price of your Engagement ring
Although diamonds are valuable, it’s good to note that you might not get more than what you paid for the ring. The size and quality of the stone will be the primary determinant of your ring’s value. Other conditions that affect the value of the diamond ring are;
- The cut
- Finish and symmetry
It’s a bit complicated to estimate the exact value of diamonds since it lacks an objective measure, and it’s worth what a buyer is willing to pay. However, a little more patience and considerable research can help you sell it for more money. You can do your own research first and find unbiased and independent information on Pricescope diamond and jewellery forum about diamond cut, clarity, cut and diamond colour chart here. If you choose to sell your ring to a diamond specialist, you might get a better price.
It’s advisable not to hold onto a token of a relationship gone bad. It will just breed bad memories. Selling an engagement ring isn’t something to feel wrong about and is also a great way to make some extra cash. However, remember that the price may vary depending on its quality, but also a modest amount of money is more useful than having a ring that you may never want to look at or use.