Selling any piece of jewelry involves a degree of planning: making sure it is accurately valued and finding a seller able to offer a good price are both important factors to consider.
When it is a piece you don’t have an emotional connection to, the process is relatively easy.
If you are selling an engagement ring, parting ways might be difficult, depending on the situation.
In some cases you may be more than happy to sell it, or perhaps the ring you currently have is a placeholder for an upgrade you have been saving for.
To help make the process easier, here is our guide on how to sell your engagement ring, detailing everything from finding the best seller, obtaining an accurate valuation, and learning about how much your engagement ring is worth.
Making the Right Decision
Regardless of the carat of the gem in your engagement ring, you may find the emotional weight is considerably more.
In situations where there is a financial hardship, some people might feel pressured to sell their valuables, or it might be that the ring is a painful reminder of a difficult divorce.
Whatever the case, selling your engagement ring is not a snap decision, so think carefully about what your motive is before selling it as this can be a very personal choice that may involve emotional preparation.
Valuation
Determining the value of your ring is a complex process requiring an expert eye.
Rather than attempting to determine it yourself, taking your engagement ring to be appraised by a professional is usually the best option.
They will be able to look at aspects such as clarity, cut and color in order to find an accurate estimated resale price.
Is Your Ring Customized?
If your ring is unique, it may be very specific to your tastes, which can affect its value.
On the other hand, this could be a unique selling point, which is something worth considering when you are getting an estimate for its resale value.
Condition
Part of an appraisal involves assessing inclusion: internal and external imperfections that naturally occur in gemstones, but which may be invisible unless observed under magnification.
More obvious flaws such as scratched stones and worn metal might have character for the wearer, but for buyers it can reduce the value of the piece.
Repairs
If this is the case, you may be able to take your engagement ring to a jeweler to be repaired.
Remember, unless you have seen good prices on rings similar to your own, it may not be worth getting it repaired, let alone selling it.
Cleaning
To ensure your engagement ring looks its best for sales photos, there are at-home cleaning methods you can try, but if you don’t want to risk causing the ring any damage, taking it to be professionally cleaned is usually the better option.
Finding a Seller
Rather than immediately going online to sell your engagement ring, explore the other options available to you.
In addition to online retailers, you can also take the piece to a pawn shop, diamond exchange or local jewelry store.
Shop around to find the best deal, get a quote from each place to work out where you will be able to make the biggest profit.