There are many factors which may lead you to sell your diamond engagement ring. Maybe you’ve recently gone through a divorce or simply find it to be unnecessary luxury. Whatever your reason, this article contains some steps you can take to ensure the highest possible return.
If your engagement ring has a 0.50 carat or larger diamond, that diamond almost always constitutes the overwhelming majority of the rings value. Your focus should be selling your diamond for the highest possible price, rather than attempting to market it as a used engagement ring.
Gather any paperwork. This includes appraisals, diamond certificates and purchase receipts. The more information you have, the easier it will be to receive accurate estimates from potential buyers.
Identify the characteristics of your diamond. You should be able to ascertain its shape and carat weight through online resources and estimators. With a diamond certificate or appraisal you should also be able to determine its clarity, cut and color. Diamond certificates from GIA and AGS will contain all of the information necessary for a qualified buyer to provide an offer.
Don’t neglect other factors, such as fluorescence, when conducting your research. You can learn more about the characteristics which may affect your diamonds value through our Diamond Information Center.
Search for similar diamonds being sold online. Most online diamond retailers, such as Blue Nile, have searchable diamond databases on their websites. You can use their search to locate a diamond with similar characteristics to yours and identify its current retail price. While you can’t expect to receive full retail value, 60-70% of that figure should be a reasonable target.
Get estimates before meeting with buyers. Start by calling or emailing local jewelry stores, diamond dealers and specialty buyers. This will enable you narrow the search and get a feel for the current resale value of your diamond. But, don’t limit your search to local stores. Online diamond buyers typically offer highly competitive rates and are well equipped to provide immediate quotes. You can receive an estimate from us by calling or filling out the Quick estimate form.
Schedule appointments and begin meeting with buyers. Some online buyers offer a free, insured shipping service, enabling them to finalize their offer and present you with immediate payment.