Diamonds are one of the world’s most precious gems, symbolic of both romance and wealth. But where are diamonds mined in the world? While diamonds have been discovered in nearly 35 countries worldwide, there ...
Where Can I Sell My Diamond Ring For Cash?July 30, 2019 - Diamond Articles
While selling a high value item such as a diamond ring may feel daunting, the good news is that when you work with the right buyer, you can enjoy a smooth selling process. From local ring buyers to online companies, we will show you the best place to sell diamond rings quickly, easily and safely for the best price.
Get the answers to the following questions:
- Where can I sell my diamond ring for cash in person?
- Where can I sell my diamond ring for cash online?
- How much is my diamond ring worth?
- How to get the best price for my diamond ring?
Where can I sell my diamond ring for cash in person?
If you prefer to sell your diamond engagement ring in person, below are popular selling options:
PAWNSHOPS: With this local option you can get paid quickly for your engagement ring. However, pawn shops are notorious for giving low cash offers.
AUCTION HOUSES: While an auction house will handle selling the ring for you, this is typically a long selling process that can take many months and with no guaranteed sale. If your engagement ring does sell, the auction house will then take a percentage of your profits.
WP DIAMONDS: WP Diamonds makes selling engagement rings in person an entirely safe and seamless process, from the moment you inquire with us to the moment you get paid.
Thanks to our international presence, global buying power and team of diamond experts, we always provide our clients with strong cash offers for their engagement rings. Don’t just take our word for it, our professional selling process has earned us an A+ rating with the Better Business Bureau and hundreds of outstanding online reviews.
We provide free weekly appointments at our offices in New York City (just outside of the Diamond District), the UK (London and Birmingham), Tokyo and Hong Kong, from 9am to 5pm. During your 30 minute appointment you will meet with one of our diamond ring experts who will assess and price your diamond jewelry in front of you and get you paid. Opt for a cash payout or trade in your ring: get 10% more on your offer when you choose store credit.
Where can I sell my diamond ring for cash online?
If you would rather sell your diamond ring around your own schedule and from the comfort of your home, below are the most popular ways to sell your diamond ring online:
ONLINE ADS: There are plenty of online platforms such as eBay, Facebook and Craigslist where you make an ad for your diamond ring. With your own ad, you can list your ring at your desired price. Unfortunately, there is no guarantee that your ring will sell, and you can easily end up waiting months for an interested buyer. You also have to be cautious of scammers and not to share personal information or banking information.
WP DIAMONDS: At WP Diamonds, we also offer our clients the option to sell diamond rings online with our free, fully insured, overnight and trackable shipping. This entirely secure and fully insured service allows you to sell your diamond ring in as little as 24 hours.
We will notify you when your ring arrives, where it will be opened on camera and promptly be evaluated by our diamond ring experts. You will shortly be contacted with our final offer and explanation of how we came to that price. If you like our buying offer, you can accept payment by wire or check. If you choose not to accept our offer, we return it to you at no cost.
How much is my diamond ring worth?
The value of your diamond ring is based on a variety of factors. To receive an accurate price quote on a diamond ring, you will need to provide the following information:
The 4 C’s: The majority of your diamond ring’s value comes from its largest stone. A diamond’s core qualities are detailed by the 4C’s: cut, carat weight, color and clarity. These are globally accepted diamond grading criteria established by the Gemological Institute of America (GIA):
- Cut Grade: Indicates how well your diamond is cut from a scale of Excellent to Poor. Cut grade only applies to round diamonds while fancy diamond cuts, such as pears and ovals, do not have official cut grades.
- Color Grade: Denotes how much color your diamond displays, graded from D (colorless) to Z (faint yellow). This letter grade only applies to white diamonds while fancy colored diamonds, such as fancy blue diamonds, are graded from Fancy Light to Fancy Vivid depending on color intensity.
- Clarity Grade: Details the amount of internal and externals flaws present in your diamond, graded from FL (flawless) to I3 (visibly flawed).
- Carat Weight: Refers to how much your diamond weighs in carats, frequently abbreviated to ct.
Setting: Your ring’s setting will add some value to your overall offer. Be sure to know the basics about your diamond ring’s setting:
- Metal: Diamond ring settings can be made with a variety of metals such as platinum, white gold, yellow gold and rose gold. If you know the gold purity of the ring, such as 14k or 18k, be sure to include this information.
- Additional Stones: Your ring may feature additional gemstones, such as side stones or a pave band. Indicate the total carat weight of any additional stones.
How to get the best price for my diamond ring?
Now that you know where to sell your diamond ring for cash, we will share our tips for getting the highest offer for your ring:
- Sell to diamond experts: When it comes to selling a diamond ring, it pays to sell to the experts. Diamond grading and pricing is a nuanced and technical process that requires training, experience and a thorough understanding of the second-hand diamond market. Working with specialist diamond buyers will ensure that you are working with qualified experts who know the true value of your ring.
- Include the diamond certificate: When you bought your diamond ring, it likely came with a certificate from a diamond grading lab. While there are multiple diamond labs, the GIA is considered the most detailed and accurate in the industry. Your certificate contains a plethora of information about your diamond ring such as the 4C’s, symmetry, fluorescence and much more. Having this certificate will add value when it comes to selling the ring.
- Original box and papers: Diamond rings from luxury brands, such as Tiffany & Co., will have been sold with the branded box and paperwork. Keep these in good condition as they add value to your ring on the second-hand market.
With WP Diamonds, selling diamond rings in person or online has never been simpler or more streamlined.