How to Sell your Diamond Engagement Ring? A Few Tips to Help you Out
Selling an engagement ring can be emotionally difficult especially if you have been through a break up or a divorce. Unfortunately, at times of urgent need you might have to undertake the difficult task of selling your engagement ring. Here is a comprehensive approach to the basics involved in selling your diamond jewellery.
Engagement rings are available in a wide range of styles and prices. The style of the rings is characterized by the difference in prong settings and the band. The classic solitaire rings come with one diamond bearing a precise cut set in the middle. Another category of rings bear a big diamond in the middle and smaller diamonds on the side. The trinity rings bear the biggest stone in the center and three matching diamonds set horizontally in a row.
Here are some useful tips to remember when selling your ring:
- Always try to find a trustworthy buyer. You might find several buyers in the market place and most will offer you different estimations. Some buyers initially offer a high estimate but tend to offer a poor assessment when you agree to sell the engagement ring to them. Beware of such buyers, instead come to buyers like Oren is Better, who believe in transparent dealings and have years of experience within their valuation team.
- Give utmost importance on the 4Cs- cut, clarity, color and carat. These are the most vital elements that determine the true value of the ring. You will get this information in the authentication certificate provided by the jeweler at the time of purchase. At the time of selling the ring, try to provide as much details as you can to have a more accurate valuation and to ensure a fair price.
- If you have a certificate from GIA, IGL or EGL testifying the diamond set in your ring then it will be easier for you to get the exact valuation. GIA (Gemological Institute of America) for instance is world’s foremost authority in gemmology research, diamond grading, jewellery education and various other aspects. So a diamond certified by GIA Lab will represent the best quality. If you can exhibit such a certificate then the value of the ring will obviously increase.
- Always select that buyer who will respect your right on the engagement ring. If you have mentioned a clause that you want your ring to be returned after the appraisal and valuation then they must return it within the stipulated time. There are many buyers who hold onto the diamond with a hope that you will accept their offer eventually.
You can sell your ring at an auction by setting a reserve price for the ring below which it won’t sell. Thus you can actually gain the price you have in mind for your proud possession. At the same time you are preventing your ring getting sold off at a far lower price.
If you possess a vintage engagement ring then try to contact a specialist dealer and get a perfect valuation. The dealer might buy the ring themselves or can put you in touch with collectors interested to buy antique rings. In this case you might face a middle man intervention and this will eat up a favorable amount of your profit.
At Oren Cash for Gold, we possess the expertise and tools to assess your diamond ring accurately. We encourage you to ask questions during our appraisal process enabling you to understand the stages of the evaluation procedure. We assure you top most privacy as well as good returns right after the deal is finalized.