Jewelry Articles

Sell Your Tiffany Engagement Ring in 6 Simple Steps

February 22, 2016 - Jewelry Articles
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Tiffany jewelry has long been an iconic brand renowned for impeccably crafted diamond rings. But when it comes to selling a Tiffany engagement ring, there are a few factors to be aware of. Once you have worked through all of the emotional fallout surrounding your ring, you will need to figure out how the selling process works. To help make the process easier, we have gathered step-by-step instructions on how to sell a Tiffany engagement ring.

 How to sell a Tiffany engagement ring:

  1. Understand how much your Tiffany engagement ring is worth on the second-hand market
  2. Find the original Tiffany box and papers if you still have it
  3. Research Tiffany engagement ring buyers
  4. Get a price quote
  5. Schedule an appointment or send your ring in
  6. Get paid

1. Understand how much your Tiffany engagement ring is worth

While Tiffany diamonds are priced higher than diamonds of no specific brand, their value still depreciates like other diamonds once they are sold, just as motor vehicles or other luxury goods do. Don’t expect to obtain the price you initially paid for it. Depending on the Tiffany ring, you will typically receive 20%-40% of the retail price paid for the ring. You can rest assured, however, that with Tiffany branded items you will receive a bump in price.

The condition of the item will also play a part in its second hand value. Any chips or damage to the band or stone will affect the price you are offered.

 

2. Find the Tiffany box and Tiffany paperwork if you have it

If the answer is yes:

Great! Your Tiffany certificate will contain all the necessary information needed in order to get you an estimate. Your ring’s certification papers and boxing are very important when it comes to determining the value of your ring. This helps with marketing the item and will therefore return you more money.

 

If the answer is no:

Not a problem. You can still sell your Tiffany engagement ring. A diamond buyer will be able to give you a price offer upon inspection. If you would like a price estimate without a buyer inspecting it in person, you will need to obtain certain grading’s:

– You may have an insurance appraisal with these grading’s, however, do not view this report as an accurate estimate of how valuable your ring is. That report only applies to insurance value of the diamond. The grading’s may be inaccurate, but these do serve as a rough guide to the characteristics of your stone and ring needed to establish a price.

– If you do not have any paperwork and were the original purchaser of the ring, you can contact Tiffany & Co. to request the official paperwork.

– Otherwise, simply take your ring to a local jeweler, as they will be able to give you a verbal appraisal. This information will be needed in order to get you a price. This is a more economical option in comparison to hiring an appraiser, whose services can be expensive. A jeweler can provide you with the same information, albeit a rougher version.

 

3. Research Tiffany Engagement Ring Buyers

Carefully choose who you decide to sell to. It is worth thoroughly researching diamond buyers and choosing the most reputable service. Do your homework before you sell, shop around and be sure to read online reviews.

  • Classified ads, such as what you might find on Craigslist, may be a good place to start for advertising to potential buyers; however, it isn’t guaranteed to work. This can be time consuming and more importantly, you are not necessarily working with reputable professionals. Be wary of meeting with individuals and the payment process.
  • Consult a local jeweler who can sell your diamond on consignment. Once again, this can be a lengthy process taking months or even years, with no guaranteed sale and a fee charged by the jeweler. Pawnbrokers on the other hand can buy your tiffany engagement ring outright but lack the specialist diamond and designer jewelry knowledge to make strong offers which typically results in low prices.
  • Specialist Tiffany engagement ring buyers are a great option for quick and easy sales. With WP Diamonds, you can receive your money within as little as 24 hour as well as prices higher prices than at a pawnshop or local jeweler. Selling Tiffany jewelry doesn’t have to be complicated or a long, drawn-out process. You have the option of selling online or coming in for an appointment. At WP Diamonds, we feature trustworthy buying services in the most efficient and safe manner possible. Our in-house diamond experts remain up to date on the latest Tiffany jewelry market information, ensuring you will always receive the true value of your ring. To find out more about how to sell your Tiffany engagement ring, contact us on 646 758 0270, email support@wpdiamonds.com or click the button below to receive your price quote.

4. Get a price quote

Getting a price quote for your engagement ring is an important step. This will give you a rough idea of the price of your ring before you commit to an appointment or sending in your ring in for a final price. Reputable diamond buyers will provide honest price ranges, however some less trustworthy buyers will inflate their price ranges. Simply fill out our online form to receive your price quote today from the Tiffany experts.

5. Schedule an appointment or send your ring in

The next step is to decide if an in person appointment is more convenient or if you would prefer to send your ring in. WP Diamonds has offices in New York, the UK and Hong Kong. However most customers opt to use our free and fully insured overnight shipping. You will receive detailed instructions as to how to pack and ship your Tiffany ring and can track it every step of the way. We will notify you once we receive the package and open it on camera for your protection.  The process is entirely free, fully insured and secure.

6. Get paid

Once our experts have inspected and authenticated your ring, we will be in touch with a final price. Accept our offer and we will promptly issue payment, by wire or check. If you decide not to move forward with our offer,  we will return your ring free of charge. It’s that simple! We focus on delivering a high-end selling service and do not believe in using high-pressure sales tactics or haggling. Our aim is to provide an honest and transparent service by offering our best price upfront.

Author
Bio: Written by one of our diamond, designer jewelry or luxury watch experts. With over 150 years of combined experience, our experts are able to comment on trends, share industry knowledge and provide diamond, designer jewelry and luxury watch education.

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