Selling your old diamond ring is a good way to make some extra cash. Whether you’re looking to make some money to take care of an immediate expense or you’re ready to move forward and sell your diamond ring, you can make good profit from the sale provided you know the best way to sell.
When finding the best way to sell your old diamond ring or any piece of jewelry, you should take into account these important factors: convenience or how easy the selling process is, price offers, payment guarantee, and returns just in case you change your mind.
While it’s certainly easy to find a pawnshop nearby where you can sell your diamond ring, you can’t always guarantee that you’ll get a good price for your ring. Pawnshops generally pay a lot less for smaller stones that are 0.5 carats and below. As for bigger stones, they normally pay only about half the price of the stone’s retail value. If your diamond ring is from a famous jeweler or brand, you might be able to get more for it from a pawnshop but only as much as 70% of the retail value and this depends on the pawnshop you go to so if you want to get a decent price for your diamond ring, you’ll likely have to go to several places to ask for quotes.
So while pawnshops might provide a quick and convenient venue for selling your old diamond ring, they don’t always provide the best prices.
Online Diamond Buyers
If you’re looking for the best way to sell a diamond ring, selling to reputable online diamond buyers is certainly your best option.
Online diamond buyers can offer better prices because they actually put the stone under expert valuation to determine its value and since they don’t have a physical location to maintain, they are able to pass on the savings to sellers and offer higher prices. It’s also far easier to get a quote from online diamond buyers, as most of them offer instant quotes and quick appraisals. This is especially convenient for sellers who already know the exact specifications of their diamond ring. If you are able to provide more or less accurate details of your stone’s value, you can get a more accurate quote even before sending them your ring.
You can also send your ring to them for valuation so they can give you a final price offer right away. Most online diamond buyers offer free shipping with insurance. And the best part is, if you end up sending your ring to them but you’re not satisfied with their price offers, most online diamond buyers can also send your jewelry back to you for free with no questions asked.
If you take into account the convenience of the selling process, price offers, payment guarantees, and returns, online diamond buyers certainly offer the best service. They don’t only offer better prices but they allow sellers to sell jewelry right from the comfort of their own homes.
To compare online diamond buyers, take a look at our diamond buyer reviews page.