Antique rings are some of the most precious possessions people can have. Not only do they have unique designs that represent previous eras, but they also hold a special place in people’s hearts. Whether you have an antique engagement ring or someone gifted you a diamond ring, these items are designed to last for decades and even centuries.
However, there may come a time when you may want to sell diamond engagement rings or any other kind of older jewelry piece. If you have old jewelry collecting dust in a box, selling it may be an excellent idea. You could earn quite a bit of money with that.
If you’ve been asking yourself: “How do I sell my engagement ring?” or “Is it possible to sell my old diamond dings?” you’ve come to the right place.
Here, we’ll tell you some of the best ways to sell your diamond ring or any other piece of jewelry you’ve fallen out of love with.
Why Would You Sell Antique Rings?
Usually, antique rings involve jewelry at least 50 years old, so it may seem weird to want to sell such a valuable piece. However, there can be many reasons to want to sell your old jewelry:
- You ended a marriage but kept the ring.
- The ring’s style doesn’t fit you.
- You don’t like your old jewels anymore.
Even if you don’t like your antique ring anymore, there are people out there who might. It doesn’t matter if it’s a diamond engagement ring or any other piece of jewelry; the chances are that you’ll find someone willing to pay good money for them.
Things You Should Consider Before Selling Your Old Ring
Selling your old diamond jewelry (or any other kind) isn’t an easy decision to make. Sometimes, there’s some history attached to these pieces, making it harder for people to let go.
If you’ve decided and want to sell your diamond rings, consider the following tips. These will help you make the most out of your transaction with someone else.
Gather Information About What You’re Selling
Considering how old your diamond jewelry may be, it’s possible that you don’t even know how valuable it is. Getting information about your jewelry (also known as the diamond grading criteria), such as carat weight, diamond shape, clarity, age, and more, will help you get the best price possible.
Something that helps people get a better selling price is to sell collections. If you have a matching set that includes a necklace and earrings, you could get even more money at your jewelry store of choice.
You can sell individual pieces only if you don’t want to eliminate the entire collection, but it’s still useful to remember. However, remember that if you decide to sell the rest of the collection later, you may not be able to get a good price for it.
Let Go of Sentimental Value
We’ve briefly mentioned how emotions play a significant role in the decision to sell a ring. For example, if you plan to sell an engagement ring that belonged to your grandmother, it could be hard to let go of that sentimental value.
In these cases, make sure to think things through before making a decision you’ll regret.
Another essential thing to consider is letting go of emotions will help you see the jewelry piece objectively. Sometimes, we think our items are more valuable than they are, which makes us lose time when negotiating with someone else.
Once you see your diamond jewelry for its value, you can determine if it’s worth selling.
Evaluate the Condition of the Jewelry/Get an Expert Appraisal
Unless you’re a jewel expert, it may not be very easy to tell how valuable your diamond rings are. If your jewelry is in poor condition, the chances are it won’t sell well, so it’s not worth it.
Some factors that can damage your rings include chips, scratches, and rust.
You should get an expert appraisal after assessing the ring’s condition. An appraisal is when you take the jewelry you want to sell to an expert. These experts will examine the piece thoroughly and tell you how much you can expect to make from it.
Remember that an appraiser will examine your ring using professional tools, so they’ll be able to notice details you may not have seen in plain sight. You can talk to different local jewelry stores or experts and get different quotes.
Schedule a Professional Cleaning Session
Even though getting your rings professionally cleaned may be a bit expensive, it can be worth it if they’re valuable. If you get your jewelry cleaned, you can polish the gemstone, keep the metal in good shape, and take care of other details.
This can help you get a better deal anywhere you plan to sell the ring.
Best Ways to Sell Your Rings for Cash
The best place to sell jewelry or engagement rings depends on a few things (such as the ones mentioned above). However, one of the most important factors is who you’re selling your jewelry to. A local jeweler may not offer you the same deal for your old wedding rings as an online store and vice-versa.
We’ll walk you through some of the best ways to sell your rings for cash. Feel free to go for the one that seems more appealing to you.
#1 – Go to a Jeweler’s Store
This is one of the most common options for people. If you know a local jewelry store, you can get an appraisal. There are always diamond buyers available.
If you’re planning on going down this route, make sure to ask the right questions before selling your diamond ring, such as:
- How much have similar pieces sold for?
- How will I get paid?
Remember that buyers often value diamond prices differently. If you want to ensure you’re getting the best deal, you should talk to several local jewelers and get to the best deal possible.
#2 – Put the Ring on an Auction
Auction houses aren’t such a popular option because they are hard to find today. Also, you’ll find that selling an engagement ring through an auction can take a long time and that, usually, the auction house takes a cut from the selling price.
However, the good part of an auction house is that these are great places to sell antique jewelry. You could get a fair price for your rings even if the house gets a considerable cut. However, you must be willing to go through all the involved processes.
#3 – Consider a Pawn Shop
Pawn shops could be an excellent option to sell “ring-for-cash” fast. In a pawn shop, you’ll take your engagement rings (or any other piece) to the worker, who will offer you a deal within a few minutes of examining the piece.
The main issue with pawn shops is that they usually don’t specialize in antique jewelry, so you may not get a good price for your piece, even if it seems to have a huge resale value. Also, if you want to re-purchase your piece from the shop, you’ll likely have to pay high-interest rates.
We only recommend this option if you want to sell your diamond jewelry as fast as possible and don’t mind the lower price offerings you could get.
#4 – Go Online
Did you know that you can now sell your diamond online? This is, by far, one of the most convenient places to sell your pieces for a higher price.
There are plenty of online auction sites/online jewelry stores you can check out, so the best thing you can do is get appraisals from the ones you’re interested in and go for the best deal possible.
If you’re going for an online dealer, choose one specializing in antique jewelry. These experts will likely offer the best deals for your pieces.
Many online companies, like Abercrombie Jewelry, have a team ready to answer your questions and guide you through selling your jewelry correctly.
You won’t have to worry if you don’t know how much your piece is worth, as these people will be more than willing to give you a fair price for it and explain why they’re offering it.
Bottom Line
Selling a diamond engagement ring (or another type of ring) could get overwhelming if you don’t know where to start. Thanks to the information here, however, we’re positive you will have an easier time figuring out what to do.
Keep in mind that there’s no “best” option on the list, as most people’s needs are different. We suggest you take your time to evaluate each tip thoroughly so that you can go to the best place to sell your rings for cash.
If you have antique rings, the chances are that they’re more valuable than you think. There’s no need to keep them in an old box if they no longer mean anything to you. Get ready to sell your pieces and make money using the right method.