Do you still have photos and mementos from your former marriage around the house? Do you have a strong negative reaction when your ex’s name comes up in a conversation? It can be difficult to bounce back aft...
How to Sell Your Tiffany Engagement RingFebruary 22, 2016 - Jewelry Articles
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.
1. Understand the second hand value of Tiffany engagement rings
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. Do you have the Tiffany box and Tiffany paperwork?
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.
You can also 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. 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.
Online 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.
To find out more about how we can help you sell your Tiffany engagement ring, contact us. 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.