How to Sell Diamond Engagement Rings Online
When most people decide to sell diamond engagement rings, they often go to either a jeweler or a pawnshop. While these places can certainly pay you money for your diamond ring, it’s not the best choice if you’re looking to get the most profit out of the sale. Most pawnshops buy jewelry at a much lower price than they’re actually worth so it’s not a practical place to sell a piece of jewelry as special as a diamond engagement ring.
If you’re planning to sell your diamond engagement ring, we highly suggest you try selling it online to a diamond buyer. It’s not only the most convenient option these days but since you’ll have access to a variety of sellers from top diamond capitals like New York, you can get a much better price for your precious jewelry. Plus, it’s also very discreet and you won’t even have to meet the buyer face to face. You can get instant appraisals and instant payment processing right after you have approved the final price.
Outlined below are some steps you can follow to ensure that the online selling process goes smoothly and without a hitch:
Knowing the Value of Your Diamond Engagement Ring
If you have experience buying diamond jewelry, then you’re probably familiar with the 4 Cs of a diamond: Cut Grade (based on proportions, brightness, and the amount of sparkle), Color (how colorless it is), Clarity (how flawless it is), and Carat (weight).
These factors, among other things, play an important role in determining the value of a diamond.
These four Cs however are only used for determining the value of the stone not the metal used for the setting. Aside from knowing how valuable a diamond is, you should also take note of the metal used for your diamond engagement ring. Platinum engagement rings are more expensive than gold engagement rings. If you have a gold ring, you should also know its value in karats or its purity. Most gold diamond engagement rings are set in 14k or 18k gold.
If your diamond engagement ring comes with a certificate like a GIA Certificate, you’d be able to get a much more approximate amount when asking for a quick quote from a diamond buyer online.
Ask for Price Quotes from Different Buyers
Most online diamond buyers offer quick appraisals or instant quotations. A good way to go about selling your ring is to ask for a quote from several online buyers. You can also go to a pawnshop or a jeweler just to get a price estimate for your ring. Getting several quotations will give you a general idea of how much you can actually sell your ring.
Online diamond buyers have more expertise when it comes to diamond valuation so they are able to offer more competitive prices than pawnshops. Since they operate primarily online, they are able to offer more money, as they don’t have to pay for overhead costs of owning a physical location.
Make sure to choose an online diamond buyer that has shipping insurance especially since you are exporting a valuable piece of jewelry. Aside from the ensuring that there is insurance coverage, you should also make sure that their maximum coverage can cover the value of your engagement ring. Different online diamond buyers offer varying maximum insurance coverage for shipment of goods.
Send Your Diamond Engagement Ring for Valuation
Once you’ve decided on an online buyer, request for a pack so you can send in your diamond engagement ring. Most online diamond buyers offer a prepaid package so you can send in your goods at no charge. While they can offer you an initial valuation based on the details you provide about your ring, they will need to physically appraise your diamond engagement ring to be able to provide an exact price amount.
Wait for the Final Valuation and Approve Payment
After receiving your diamond ring, the online diamond buyer of your choice will give you a final valuation and their offer price for your diamond ring. If you choose to accept, then they will send your payment right away. However, if you are not satisfied with the price they offer, you can reject the offer and wait for your diamond engagement ring to be sent back to you.