Tips on Selling Your Engagement Ring – Diamond Included
You have finally decided to sell your diamond engagement ring, but you are not sure where to start. This uncertainty is added to the stress you are no doubt feeling because of the reason you have for selling the ring in the first place. This ring may have been a part of your life for many years, or it could be a recent development, but either way you have an emotional relationship.
The first place you may think of for selling your diamond ring is at the neighborhood pawn broker. But you soon discover that they are only interested in the gold and not the diamond, which amounts to little money. So, you decide to post it to online shopping sites, but realize that people don’t normally buy high priced items that way, unless it has wheels, even though you know you are asking a fair price.
You have asked family and friends, but you realize that you really don’t want to have someone you know wearing the ring that is so emotionally attached to you.
So, what are your safe options?
If you want to sell the engagement ring with the diamond included, your best bet is to locate a legitimate local diamond ring buyer. They will be experienced in appraising, buying, and selling diamond rings.
The following steps will prepare you for the transaction and allow you to move on with less anxiety and help you get the most for your money.
Find a Trusted Buyer
Start your search locally. You can ask your local jeweler or pawn broker to give you an estimate of value, or you can get a formal appraisal (this has a fee), so you will have a general idea of the ring’s value. It might be a good idea to visit three or four stores for estimates. You will now have an idea of what a fair selling price will be.
A legitimate buyer will offer in-person meetings, so working with your local buyer is important. You may also want to read customer reviews on websites and directories.
Assessment takes time, so value the buyer who has the experience to take time to assess your ring.
Have Paperwork Ready
When the engagement ring was purchased it would have come with a certificate. But if it was bought many years ago it may be a challenge to locate. In this case, it is a good idea to use a current appraisal. Bring that along with you when you find a trusted buyer.
Release Emotional Connection
Release Emotional Connection
When you received your diamond engagement ring it was a symbol of passion or love, which can make it more difficult to part with than other items you may have sold in the past. It is important to leave emotions out of the selling process.
Sentimental value does not add value to the selling price, so you may think the appraisals are not accurate. Selling before you are emotionally ready may bring regrets for many years. But if the sentimental value has diminished, just know that it was once a part of your life and you need to move on.
Now that the process is over, make plans to do something nice for yourself to solidify the closure of that part of your life.
Ready to learn more? Email Kendall@potofgoldusa.com for a private appointment!