How To Sell Wedding Ring Set

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Here's what nosotros'll cover in this article:

How to Sell Your Diamond Band
What Happens When Yous Try to Sell a Diamond Ring?
How Much Tin I Sell My Diamond Band for?
Where to Sell Your Diamond
The Best Mode to Sell Your Diamond Online
What is a Diamond'southward "Market place Price" or Resale Value?
How Much Do Pawn Shops Pay for Diamond Rings?
Can I Sell My Engagement Band Setting Too?
Final Tips on How to Sell a Diamond Ring

Here is How to Sell Your Diamond Ring

To sell your diamond ring for the most money:

Keep in listen that you lot volition not get dorsum what you paid for ir.
Don't go to Pawn Shops or local jewelry stores.
Effort doing information technology yourself, but prepare to await.
Abe Mor offers the all-time prices for 2d hand diamonds.

Click here to send us data about your diamond that we will pass on to the buyer.

In Response to One of Our Readers' FAQ

Occasionally, as an editor of this site, you lot have the pleasure of writing an article that'southward a straight response to our readers' most common questions.

With the high volume of email questions nosotros receive, it'south always helpful to have an already prepared article that addresses a reader's question or at the very least enriches his or her understanding of the topic at hand.

The Elementary Q&A

A common question nosotros receive is often along the lines of, "I have a diamond a few years erstwhile that I need to sell. How can I get the best toll possible? Is there any way I can turn a turn a profit?"

Of form, the reply is almost always an emphatic "no," and this article will address why.

What Happens When You Try to Sell a Diamond Ring?

Let's commencement with the about likely scenario. Unfortunately, most people out there are still buying their diamond rings in bricks & mortar jewelry stores.

Let's also presume the best case scenario within the subset of concrete jewelry stores – the small independent (not role of a chain) jeweler that only sells GIA certified diamonds.

In this example, the best (ie, the lowest) profit percent you lot're probable to encounter is 25%. In other scenarios (ie, large chain jeweler, high-end luxury, EGL certified diamonds, etc.), you're likely to face much college turn a profit margins.

How much can I sell my diamond ring for?

Please excuse me at present while I get a flake technical. Permit's assume for the purposes of this exercise that the diamond band cost the jewelry store 100 (currency isn't relevant hither – only relative values matter).

With a 25% profit percentage, that ways the toll you paid was 125. Allow's exist generous and assume that diamond prices accept risen 10% since the diamond was purchased.

And then in theory, at this point, you're but losing 12%. 125 (price yous paid) less 110 (price you become for the rock) = 15 total loss divided past original price paid = 12%.

But here's where the painful realizations begin to descend upon people who are looking to sell diamonds – whom do you lot plow to to sell a diamond at the current "market price?"

The answer is unfortunately nobody .

Remember You're A Diamond Pro?

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Where to Sell Your Diamond

Jewelry Stores

Let'south say y'all walk into a similar type of jewelry store to the one you bought the diamond. When they originally paid 100 for that stone, they almost likely had that diamond on consignment (ie, they borrowed information technology from a wholesaler, then information technology cost them zero).

This means that the truthful toll of that diamond was significantly less than the 100 they paid for it on newspaper.

If they buy your diamond, they buy it cheap.

For the store to actually brand an investment in a diamond, and not just infringe 1, information technology volition have to justify it by ownership at a very cheap price. Furthermore, relationships betwixt suppliers and buyers in this business concern are extremely important.

For a jewelry store to use its upper-case letter to purchase a diamond from yous instead of using it as an opportunity to deepen a relationship with a supplier means that they need to justify that decision through buying your diamond on the cheap.

Additionally, just nearly anybody in the business who is faced with a individual seller knows that this is a peachy opportunity to buy well beneath the market cost.

Overall, information technology'south very unlikely.

Unless the diamond being offered is extremely rare for any reason (a situation I accept yet to encounter), at that place'due south simply no reason why a jeweler would be compelled to buy your diamond at the market place cost when he could buy an identical diamond at the aforementioned price from any one of hundreds of wholesalers (with better payment terms).

Pawnshops

If y'all try to take it to a pawn shop, you'll be hit even worse considering their selling prices are already expected to be well beneath the market, so their costs must likewise be very low to justify their depression prices.

Directly Consumers

You lot could always effort to become straight to the consumer. Craigslist has its ain risks. You could try selling it on eBay or other peer to peer selling sites, merely no consumer is going to be motivated to pay yous the same price yous paid when they could just go and buy the aforementioned thing from a store that will offer warranties, packaging, etc.

Your Best Case Scenario

In my opinion, in a best case scenario, subsequently diamond prices have appreciated by x%, y'all could maybe find someone to purchase your diamond for xc, leaving yous with a loss of 28% (125-90=35 total loss 35/125 = 28% loss).

If you try and sell your diamond immediately later purchasing it, and so your best case would exist selling your diamond for 80 or a loss of 36%. Once again, this is in an absolute best-case scenario buying bricks & mortar.

Benefits of Selling A Diamond Bought Online

one. Better Value = Money Saved

What if you bought the same stone online? Well, as we explain here, that means you received far better value buying that diamond in the first place. This will help you mitigate your losses.

Take these diamonds for example. Here is a beautiful diamond from James Allen for $5,500 and a fantastic alternative from Blue Nile for $5,581. Both of these diamonds are astounding choices that would have price you almost $vi,500 in a local store.

Nosotros reached out to some of our contacts and the best offer for those ii diamonds were $3,600 and $3,900 respectively.

2. Return Windows and Upgrade Policies

One major advantage for these online vendors are their policies. Both James Allen and Blue Nile offer full refunds for 30 days. They also offer a lifetime upgrade policy.

Buying online plainly makes selling a diamond much easier. Your toll basis is lower (and then it will be easier to recoup your money if you lot demand to sell on the open up market) and the retailers give you options for returning and upgrading (and so y'all retain full value for the ring).

Upgrading your diamond through a typical retailer normally does non give y'all the value you would expect. Nosotros dig into that a bit more in our trade-in article.

The Best Way to Sell Your Diamond Online

We recently did a secret test that of the major online options for selling your diamond. Nosotros purchased a diamond ring from Tiffany & Co for other purposes (making videos and keeping our reviews current) and used this as an opportunity to come across what the other side of the business organization is like. Here are the results.

The ring we used was a 0.53ct round diamond in a classic Tiffany solitaire setting. We originally purchased it for $iv,500. Obviously, we expected to lose a lot of money on the transaction. The question was, how much?
Please annotation that we used a Tiffany ring for this examination. Tiffany diamond rings are insanely expensive and very poor bang for your buck. That is the reason there was such a large gap between the corporeality we paid and the amount nosotros were able to sell it for.

The Exam

White Pine: Bringing up the rear. This was the everyman offering by far. After reaching out to them via their website, I received a pithy estimate of $900-ane,000. I responded mentioning that it was brand new and had all the Tiffany paperwork. The door was slammed shut by Mark who said there is no fashion they would go higher than that. Given the other offers we had, information technology was a waste of our time to ship it to them.

Worthy: The centre of the pack. This one wasn't also bad unless you dig a little deeper. Worthy has a different business organization model. They do not actually buy the band, rather they sale it off to diamond wholesalers and retailers. Nosotros are non fans of this model as we explain in our review.
After a couple of weeks (time to send the ring, go it inspected past GIA and auctioned) the highest bid was $1,458. That was Before they took their committee. After the committee, the offer would have been somewhere around $one,200.

Abe Mor: The hands-down winner. After sending them a message with the details we were given an estimate inside 24-hours. Being as this was a Tiffany ring, at that place was trivial ambivalence as to the quality (unlike some other retailers or independent certificates, Tiffany's grading and quality command is legendarily good).

The offer from Abe Mor was $1,850. No hassle of an auction. Just straight cash.

Offers on 1/2ct Tiffany & Co Archetype Solitaire

Not But our Hole-and-corner Test

I should mention hither that at some point we have given all iii of these companies an opportunity to work with our readers (by referring people who contacted the states directly). The number of satisfied sellers who worked with Abe Mor was exponentially college than it was for Worthy or White Pino. The difference was so pronounced that we don't carp recommending either Worthy or White Pino anymore.

As this article hammers dwelling house, many people are in for a rude awakening when they try to sell their diamond. As this test showed, the offers we received were 78%, 73% and 59% BELOW what we paid for.

Delight go along in mind that this test was done with a Tiffany & Co ring. Tiffany has an incredibly high markup for their rings. A ring similar that in white gilded from Blue Nile would cost about $1,350. A diamond ring like that would get y'all a improve render. For instance, Abe Mor said they would buy that one for about $800. That would hateful a net loss of only 39%.

What is a Diamond'due south "Market Cost?"

I've used this term a few times in this article, but the truth is, there really is no clear definition of what this means. Already in this article, yous can see that there'southward a difference between a consignment toll, a cash toll, or a price with generous payment terms.

In that location are also "telephone call prices" (the price a store will pay when they "call" a dealer with a specific request to sell to a customer who is ready to purchase this particular detail) and "business prices" (a lower price negotiated when many diamonds are bought together).

Dissimilar Market Prices and Risks

And so you run into, in reality, a diamond has many different "marketplace prices." The lowest of these is, of class, the "cash price"—the price a store will be willing to pay immediately to learn a diamond without a client soon requesting this diamond.

The reason this toll is the lowest is considering it requires an immediate outlay of capital in exchange for simply the promise of a future sale. This involves taking on gamble, and risk needs to be rewarded with a college potential profit—otherwise, it'due south not worth the cost of taking the risk.

So if your diamond is a less popular cut, or has an ugly inclusion, or is a difficult item for a store to sell for whatsoever reason, expect to take a much bigger striking when trying to sell information technology.

Can I Sell My Engagement Ring Setting Likewise?

Yes, you can sell your diamond and your setting. If y'all go through Abe Mor diamonds, they'll handle the resale of your diamond and setting. Remember that your setting will be worth the fleck gold toll. So, fifty-fifty if y'all paid $2,580 for a unique setting like this one from James Allen, it will nevertheless exist melted downward to scrap aureate. Why is that? Well, nigh everyone wants a specific, custom blueprint. Rather than reusing your ring, a buyer would prefer to have their own design created.

While it is a financial loss to sell your band for fleck gold, at least you are able to recuperate some of the cost. About jewelry stores and pawn shops pay approximately fifty cents for every dollar of scrap gilded value. If the value is $1,000, for example, a store will offering to buy the band for approximately $500. At Abe Mor, nonetheless, they offering 75 cents for every dollar of scrap value. So, you'd receive $750 for the $i,000 scrap gold value, instead of $500. We described how selling gilded works and how y'all can do it in our sell-gold-for-cash article.

Learn more than virtually selling your setting here.

Last Tips on How to Sell a Diamond Ring

Set up to sell? Provided you accept realistic expectations most cost, selling a diamond band isn't a peculiarly difficult process. If you're thinking of selling, try using the tips below for a simpler selling process:

Exist realistic regarding the value of your ring

Every bit we've mentioned to a higher place, you won't get back what you paid for your ring, even if it's in flawless status. Be realistic about pricing from the beginning and be prepared to bargain with selling at a loss.

Avoid pawn shops

Yous will never receive a off-white toll for your diamond band at a pawn shop. Instead, y'all'll likely receive an offer for a minor fraction of the diamond's value, at best.

Avoid local jewelry stores

Too, you'll rarely get a fair price for your diamond from a local jewelry shop. While you may receive more than you would from a pawn shop, the jeweler ultimately has other options that are more appealing than buying from y'all.

Do consider selling online

While online companies like Abe Mor won't give y'all the total amount you paid for your diamond band, y'all'll receive a higher amount than you lot will from any local business organisation.

Be prepared to wait if you lot sell privately

Selling on eBay or Craigslist is possible, and information technology may net you slightly more than selling elsewhere. However, pre-owned diamond rings rarely sell quickly (especially at nigh-retail prices), pregnant you may need to wait for a long time earlier your ring finds a buyer.

Diamond Resale Value

The resale value of a diamond can vary hugely depending on its carat weight, color, cut quality, clarity and numerous other factors. Our guide to diamond resale value goes into more particular on the key factors that determine a diamond'due south value.

How Much Do Pawn Shops Pay for Diamond Rings?

Most pawn shops normally pay about 30 to 60% of what a diamond is worth. Once yous add in the standard retail markup that's practical to well-nigh diamonds, this ways that you'll usually receive an offer for a pocket-sized fraction of the amount you paid for your diamond band when it was new.

The reason pawn shops pay so little is simple — their business organisation model requires them to buy your diamond at a very low price in order to brand a turn a profit. We've explained this in more item in our guide to selling diamond rings at a pawn shop .

Selling a Diamond Band: Conclusion

We recommend Abe Mor if you want to sell your diamond ring for the most coin.

Cash prices are all about the gamble of having your diamond sit down in the store shelves for years ahead—the more likely that is to happen, the less a store is going to be willing to pay for it.

If yous take a diamond that you need to sell, please utilize the form below to transport us the details of your particular which we volition then pass on to our contact in the diamond district.

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