Authored by Emeka Justice in Jewelry
Published on 03-23-2009
If you are ready to part with your diamond ring and have decided to sell it, there are a few things that you need to know. You will want to make sure you get exactly what your diamond is worth by knowing its cut, color, carat weight, and clarity. Is your diamond a newer ring or is it a vintage antique? If your ring is a true antique, it could be worth a lot more than if it was bought in the ten years or so.
You should first take your diamond to a professional jeweler to be appraised. Make sure you take it to someone who has been in business for a good while and can be trusted at knowing what he is doing. Only a professional jeweler will have the necessary equipment, knowledge and skills to be able to determine the actual amount that your diamond is worth.
Once you have determined how much your diamond is worth, you will be able to place it up for sale publicly. Place an ad in your local newspaper, put ads online on e-bay and Craig’s List. You will need to list important information about the diamond like the color, the cut, the clarity, and carat weight. You will also need to add information about the ring itself like size, if it yellow or white gold or sterling silver, and what kind of setting it has. You will need to add your contact information and price.
If you are selling your ring to someone online, make sure you receive your payment for the ring before sending it in a protective box and wrapping. Be sure to place shipping insurance on it as well because you may never know if it may get lost on the way to its new owner.
If you are in need of fast cash for your diamond ring, you could consider taking it to a jeweler to sell. Depending on what the price of gold is at the time will help to determine the price you will get for your ring. Most jewelers will never pay an amount that is equal to what your ring is really worth because they wouldn’t be able to make a profit from reselling it. If you wouldn’t mind not getting as much for your ring as you would selling it outright to an individual, a jeweler a may be the answer for you.
For another answer to getting fast cash for your diamond ring, you may want to visit a pawnshop. You would still need to go to a professional jeweler to obtain an appraisal report to take with you to the pawn shop. With proof of what your diamond ring is worth, you may be able to squeeze a little more out of the pawn broker.
The worst part of selling your diamond ring, especially if you are a woman, is watching it go onto someone else’s finger. Your ring may carry with it sentimental values that can’t be bought are replaced. If you are selling the ring because you are in need of cash and not because it was a gift from your ex-partner who you loathe, you may have a hard time parting with it.