Whatever your reason is for selling your diamond ring, rest assured that there are many options available to you and likely something you will be pleased with. The five ways to sell a diamond ring below each state the various pros and cons that could make one a more appealing option to you. Some people are looking to earn as much money as possible, while others may be interested in taking less if they could get the money faster. Depending on your circumstance, read through what we have to say about the different options you have when selling a diamond ring to determine what your best option is.
Pawnshops
The first thing that many people think of when it comes to selling something is going into the local pawnshop and negotiating on a price. Pawnshops buy a variety of items and are generally open at all hours of the day to provide people the opportunity to get cash when they need it. Selling a diamond ring to a pawnshop will definitely put money in your pocket quickly, but how much will they really give you for it? Chances are you will not receive as much as you thought you would and the reason for that is simple. Diamond are difficult to grade and require special tools that most pawnshops don’t have. So if you are looking for some quick cash, then head down to your local pawnshop, but other options will pay more cash for your diamond ring,
Online Diamond Buyers
The best place to sell a diamond ring is to an online diamond buyer. They specialize in purchasing diamonds and diamond jewelry, and have the proper people and resources to give accurate appraisals. These accurate appraisals allow the online diamond buyers to remain in business while offering their customers more money than the competition. Another benefit of using an online diamond buyer is the convenience of the process. Just ship your diamonds in an insured and prepaid package, then wait for an offer and they will quickly transfer money into your bank account. Online diamond buyers reach customers from all over the world and have continued to become more popular as people discover their services. While online diamond buyers are the best way to sell a diamond ring, it still will take a few days to receive your money.
Local Jewelers
Local jewelers are sometimes interested in purchasing jewelry from customers if they are looking to add to their inventory. The good thing about jewelers is that they are familiar with how a diamond is graded, and the different characteristics that can both add to and reduce the value of the diamond. Another benefit of this is that you can compare your diamond ring to the prices of similar ones in the store to help with negotiating a fair price. Besides the possible difficulty of a jewelers not being interested in purchasing more jewelry at the time, it is still a good idea to check with your local jewelers when selling a diamond ring.
Jewelry Expos
If there is not a local jeweler in your area looking to purchase diamond rings, another option is jewelry expos and other events where people show off their jewelry. These types of events not only bring together people who are interested in purchasing jewelry, but you can also find very knowledgeable people who could offer an appraisal. Even if you do not find someone to buy your ring, there is also the opportunity to trade it for another piece of jewelry that you like better and would wear more often. Generally people are looking to sell their diamond ring for cash, and we have one more suggestion you could try.
Jewelry Auctions
Jewelry auctions can be risky depending on the different stipulations with each individual auction. The good is that a jewelry-specific auction will bring jewelry buyers to one place that usually has its items evaluated before being auctioned off. This allows the buyers to bid with confidence and can lead to some high price. The bad news is if there is only one bidder interested and the price is much lower than expected. On top of the low price, there are likely also fees associated with entering you diamond ring in the auction along with a percentage of the price it sold for. These jewelry auctions could earn you the most money out of any of the options listed, but it is also the riskiest.
Depending on your situation, you may find one of these options more appealing than the others for selling your diamond ring. Each option has its benefits and drawbacks and it is up to you to decide which service will provide you with what you are looking for.
