Engagement rings are very precious gifts and are worth more than the diamond and silver composition. However, there are times you just have to let that precious diamond go to raise some extra cash. Or perhaps, the relationship fell apart, and you need to get rid of that special gift to help you move on with your life. One of the major problems with buying diamonds is that in most cases, once they leave the jeweler’s table, they are often heavily underpriced.
If you are conversant with diamonds, you will notice that it’s common for diamonds to lose half the original price when it comes to reselling. Therefore, it is best to understand this fact before setting the standards of what to expect when you sell your engagement ring.
If you are looking for ways to sell your engagement ring, this article will show you the best ten ways to sell an engagement ring.
Questions To Ask Before Selling Your Engagement Ring
Before you sell your engagement, ask yourself the following questions, why should I sell my engagement ring, and at what amount am I willing to let the ring go. If the engagement ring carries a strong memory of something or events you wish to forget, it might just be ideal to sell the ring and move on.
For example, after a divorce or the death of a fiancé, selling off an engagement ring can be the best option to help you heal.
Nevertheless, if the ring is a valuable object, an inheritance, or something tied to a family tradition you want to pass on to your children, then you might need to hesitate or reconsider your decision of selling the ring.
Once you have made up your mind to sell, the next thing to do is to set your target. Ask yourself, at what amount am I willing to sell the ring?
READ ALSO: How To Start A Jewelry Business In 2022: The Ultimate Guide, Step-By-Step
How To Set Your Price Target
Before selling your engagement ring, it is essential to set a selling target. Consider the price you wish to sell the ring and the purpose. Are you trying to get rid of feelings from a bad relationship, or do you need to raise more money to take care of other needs?
In most cases, the reason for selling the ring will determine how much you will be willing to sell the ring. If the reminder reminds you of bad experiences, it is most likely that you will want to sell at the first available bargain. You might want to visit the pawnshop closest to you. However, if you are looking for the best offers for your ring, below are the top ten ways to sell your engagement ring.
10 Best Ways To Sell Engagement Ring
The best ways to sell engagement ring are:
#1. Worthy.com
When it comes to selling engagement rings online, Worthy.com is one place to turn to for the best prices. The company has a 4.8-star rating on Trustpilot, which is an excellent score that makes the site a reliable place to sell engagement and wedding rings. At Worthy.com, you get the option of working with one of the company’s auction managers to help you to get the best offer for your ring via an online auction. After a successful auction, you will receive your payment within one business day.
#2. US Gold Buyers
Another great site that has great ratings for selling your ring is US Gold Buyers. According to Better Business Bureau, the site has an A+ rating, with a 4.8-star rating from Trustpilot. It is one site that allows you to sell everything from gold to diamonds and other kinds of jewelry.
The company is prominent as one of the companies with the best rates. According to Wall Street Journal, it is the best company for payouts. They also offer their clients the opportunity to ship their products to them for free.
#3. Circa Jewels
Another great place to sell your engagement ring is by selling on Circa Jewels. A site is a legit place for those who want to sell their engagement rings, wedding rings, and other jewels.
With a 4.3-star rating on Trustpilot, there is no doubt that Circa Jewels is a good place to strike a good bargain for your engagement ring. Circa Jewels provides customers with two ways to sell their rings.
You can either choose to sell your ring on the website or through an in-person representative if you stay within one of their locations. The company has seventeen locations scattered around North America, Asia, and Europe.
The first step to selling your engagement ring or other jewels to Circa jewels is by notifying them about the item you wish to sell. The company responds within one to two business days to provide you with an estimated offer for your ring. The company also provides a free Shipping Kit for safe packaging and delivery of your ring or jewel on request.
Once your ring gets to the company, they review the ring and provide you with a final offer for it. If you are satisfied with the offer, the company can pay you through a gift card (CIRCA for 120 percent or the Blue Nile for 110 percent of the value of the purchase), bank transfer, or check order.
The gift card can be spent on your next purchase of rings or other jewelry from the company. There is no commission or additional fees when you sell your ring or other jewels to the company.
In case you are not satisfied with the offer, the company will ship back your ring at no cost and also be fully insured.
#4. Abe Mor
If you are looking for a great place to sell your diamond ring, Abe More is a great option for you. The site lets you get a quick estimate for your ring through your email. The company usually reviews every request within 72 hours for free.
Once your request is reviewed, you can ship your ring to the company for final analysis and offer. For every ring that you send to the company, you will receive your final estimate within 48 hours. If you love the estimate, the company will send your payment to FedEx. Otherwise, you will get your ring back free of charge.
Better Business Bureau gives the company an A+ rating. Therefore, it’s a great place to sell engagement rings.
#5. WP Diamonds
WP Diamonds is another great place to sell your engagement and wedding rings. The company enjoys a good rating of 4.5-star from Trustpilot and also an A+ from Better Business Bureau.
The company also buys other luxury pieces of jewelry, and be sure to get your money within 24 hours. There are also no fees or charges when you sell at WP diamonds.
If you have a diamond ring, then you should consider selling it at WP Diamonds. It is a great place to sell your engagement ring, and be sure of getting it at a great offer.
#6. I Do Now I Don’t
You may not have heard about this site, but it’s also a good place to sell your engagement rings. I Do Now I Don’t have a Trustpilot rating of 4.1-star, which is a good score for the business. You can choose to list your ring on the website for sale or get a direct offer for it from the company.
When listing your items on the site for sale, you can get a suggested price, which will serve as a guide when you’re selling your product. Items listed on the website usually expire after 30 days of listing. Therefore, you will have to list the items again. If you wish to list your item on the site, you can do it for free.
In case you are not a fan of online sales, there are also other ways you can sell your engagement ring offline.
#7. You Can Sell at the Pawn Shop
Pawnshops are usually the fastest way to sell your engagement rings. However, it is essential to understand that Pawnshops are not the best if you are looking forward to a great sale. You can find pawn shops around you on google.
Different pawn shops have different criteria for buying different kinds of rings. Ensure that you are satisfied with their offer before flipping your engagement ring. While they may not offer a great price for your ring, they are your best option if you are looking for a quick sale of your ring.
#8. Visit the Local Jeweler
Local jewelers may not be the best place to sell engagement rings. However, it is also one way to sell your engagement in a rush. Note that the best deal you can get from your local jeweler is half the original price of the product.
But if you are just in need of getting rid of the ring and not after the monetary value, the jeweler is a good choice.
Ensure to contact your local jeweler to make sure they are willing to buy before taking the ring to them. A quick call beforehand can help save you the stress of having to take the ring to a jeweler without result.
#9. Cash for Gold Exchange
In many cities, there is cash to cold spots where you can trade your wedding rings in exchange for cash. Cash for Gold Stores usually purchase these rings and melt them for reuse for the production of other products.
While it can be a good way to sell your engagement ring, the price they offer is usually lower than other kinds of offers. You can either search on google or ask people around for such places. You are using the keyword where to sell engagement rings near me or where to sell gold rings near me to find these stores.
#10. Sell at Consignment Stores
There are local consignment stores that are willing to help you sell your engagement ring. However, they usually take a commission for every sale using their channel. If you live in the United States, you can find these stores through a google search. You can also ask friends and family to point you to a consignment store that is willing to buy your engagement ring.
READ ALSO: What Consignment Store Pays the Most in 2022?
Conclusion
There are several options when it comes to selling your engagement ring. Nonetheless, if you want the best offer for your engagement ring, there are certain options you should consider first.
Online sites can be a great starting point for your search. However, if you are hoping to sell off your ring fast, you can try other offline options like the pawnshop and your local jeweler. Whatever the case may be, the best way to decide where to go is to first understand why you wish to sell your ring, as earlier mentioned at the beginning of this article. It will guide you to pick the right place to sell your ring.
References
- Where to Sell an Engagement Ring — Millennial Money
- 10 Best Places to Sell Your Engagement Ring (Near You or Online) — MoneyPantry
- 8 Best Ways to Sell an Engagement Ring — Something Borrowed
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