How to Sell an Engagement Ring

Finding the right place to sell your diamond engagement ring can be difficult. Many places will buy your engagement ring including gold buyers, pawn shops, consignment stores, jewelry stores, and even private buyers through eBay or Craigslist. Learn tips on how to sell an engagement ring and where to look to get the best offers.

Princess Cut Diamond Engagment Ring with HaloMost gold buyers are interested in your gold only. They know the value of the gold and will make you an offer based on the gold value. They may not even be interested in your diamond. Also some gold buyers may lack the knowledge and expertise to grade or value your diamond. Pawn shops will buy just about anything to make a buck. They want to lend you money on your engagement ring. You will make monthly payments to get your ring back (if you fail to make a payment they get to keep your ring) or they will buy it out right. They also often do not have the connections in the jewelry industry or have a large client base to sell your diamond to at top dollar. Consignment stores offer to sell your engagement ring for you. They take a percentage of the sale after they sell the ring to one of their customers. This means you may be waiting a long time to get paid. And when was the last time you looked for an engagement ring at a consignment store?

Not all jewelry stores buy jewelry. Almost all of the large jewelry chains will only take their items back for a trade in discount. Other large companies may take outside trade ins but require you to double the trade in discount on your new purchase.

If you choose to sell the ring yourself through online markets like eBay or Craigslist it is your responsibility to market and sell your item. eBay will take a percentage of your sale and you will be required to pay to ship your item. It does not cost much but it will still reduce how much you receive for your ring. With Craigslist there are scams and security issues to deal with. You will be asking a person you have never met before to bring a large amount of cash to buy your item. You will also be required to show them your ring in a public setting. You also still have to market and sell your ring by yourself.

The best place to sell your ring and get paid immediately for it is an independent jewelry store. Most independent jewelry stores will make you an offer on your engagement ring. They can resell the item as it is. They can do any repairs or maintenance that is needed on the ring. They can also remove the diamond and certify it, selling it as a loose diamond to retail or wholesale customers. What makes Tidewater Diamond Fine Jewelers a great place to sell your diamond engagement ring to is the following.

  • It is our business, it is what we do best.
  • Our staff has over 100 years of experience combined in the jewelry industry.
  • We sell new and pre-owned jewelry to a large customer base.
  • We have a GIA Graduate Gemologist and two GIA Accredited Jewelry Professionals available.
  • We travel a lot- Our Owner Ryan Mitchell is in New York, the diamond capital of the United States, often.
  • We have tons of connections in the diamond industry, allowing us to give you a strong offer on your ring.
  • We have resources to help you know the value of your ring.

GIA 4 C’s- Learn about diamond Grading

Know the value of your gold or platinum- Gold Charts

Make an appointment for a jewelry appraisal with our GIA Graduate Gemologist

Learn more about what we buy

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Call us today at 757-548-1258 or Visit our Chesapeake Jewelry Store