Perhaps you never thought that you’d sell your engagement ring but here you are, looking for the best place to sell engagement ring online. Reasons may be varied such as a change in taste, size of the finger, or sometimes a change in the relationship. Whatever might be the reason, selling your engagement ring is a perfectly valid option. There are various credible jewelry buyers online that can give the best prices for your expensive ring.
Usually, the prices that you get from selling the ring are comparatively lower than the original price of the jewelry. The value of diamonds and gemstones tends to decrease as soon as they are sold. Other factors that determine the value of the ring are brand, weight, carat, design, how old it is, etc. Therefore, it is essential to select an ideal jewelry buyer who will offer the best prices for your engagement ring. There are various channels through which you can sell your engagement ring such as pawnshops, jewelry auctions, online jewelry buyers, and many more. Depending on the urgency and purpose of the jewelry sale, you can opt for various selling options. However, here are a few essential factors that you must know before choosing the best place to sell an engagement ring online.
Where can you sell your engagement ring?
There are a variety of places which you can approach for a diamond ring appraisal. When you have made up your mind and are ready to sell off your ring, it is necessary to select the ideal jewelry buyer and place. The purpose of sale highly alters the type of jewelry buyer suitable for you. For example, if you are selling your engagement ring for urgent money then visiting a pawnshop or local jeweler is the perfect option. Although they won’t offer the maximum price for your ring but will offer instant money. Similarly, if your purpose for selling the ring is something else, then looking for the other selling options is best suggested. Here are some common places where you can sell your engagement ring:
- Pawnshops or local jewelry stores: This is the first place that comes to mind when one thinks of selling jewelry and other valuables. These are usually known people and entities that people can trust for getting appropriate value for their assets. While these jewelry buyers can give instant money for the item, the best price isn’t guaranteed. You probably have to settle down with a price that is not near to the actual market selling price of the jewelry item.
- Auctions and exhibitions: Another popular channel through which people tend to sell their jewelry is auctions and exhibitions. These places see an active engagement of interested buyers who look for pre-owned and exquisite designed jewelry items. These auctions and exhibitions can be a great medium to get the maximum price for your engagement ring as it involves bidding and premium pricing options. However, these do not guarantee immediate sale and money. It might take weeks and months to get a suitable buyer for your ring.
- Online jewelry buyers: This has emerged to be one of the most profiting and viable options to sell your wedding ring. The popularity of selling and buying pre-owned jewelry has led to many credible jewelry buyers that facilitate easy selling and get you the best prices for your valuables. These sellers offer a thorough assessment of your jewelry item to determine its market value. The sale process is quick and convenient. All you have to do is connect with them virtually or visit their nearby physical store and share the details of your engagement ring. You don’t have to settle for a lower price or wait longer to receive the money.
What are the factors that determine proper diamond ring appraisal?
Selling your engagement ring to the ideal jewelry buyer can fetch maximum value within a short span of time. Well, the value of the ring is not just dependent on the channel or buyer. It depends on various other factors such as the actual price of the ring, current market status, the condition of the ring, etc. Knowing the key factors that determine the value of your ring can help in making a profitable sale.
- Design and size: The design and size of the jewelry play an important role in determining its value both at the time of sale and resale. A wedding ring that is large in size with well-crafted gemstones and diamonds is likely to be of more value. Many wedding rings also have exclusive designs that are not available in the usual store collections. If your wedding ring is one of those, then you can get buyers who will pay more for these reasons.
- Condition of the ring: This goes unsaid. The present condition of your ring will highly alter its selling price. People don’t prefer to buy rings that are worn or scratched from any side. Such rings are usually bought by the jewelers at lower prices as they have to spend additional money on renewing the shine and appearance of the ring. A new and well-maintained ring is likely to be bought easily at a good price.
- Age of the ring: Many people tend to confuse the terms ‘Condition’ and ‘Age’ of the ring. Well, these two are different factors that affect the price of jewelry in completely opposite ways. An old ring i.e. a vintage or antique piece can be worth quite a bundle. Whereas a ring in old condition will not be of much demand or value.
An engagement ring is not just like any other piece of jewelry. The decision to sell it can be overwhelming and therefore you must take time in finding the best place to sell engagement ring online. Whether you are going from a separation phase or struggling with financial crises, it is essential that you get the best value for the engagement ring.
Now that you know the different places where you can sell your wedding ring, it will get easier for you to make a decision. Make a realistic evaluation of your engagement ring by considering the above factors before putting it out for sale.