Diamond Articles And Industry News

September 28, 2017

The most expensive watch in the world 2017

Luxury watches can command astronomical prices. The combination of the brand name, the value of the materials used and the labor and technology that goes into each piece creates this value. But with w...

September 26, 2017

How Much Can I Sell My Engagement Ring For?

Engagement rings are beautiful, wearable works of art. From the classic diamond solitaire to halo rings to wedding ring sets, they come in an endless variety of shapes, sizes, and designs. And while d...

September 25, 2017

Top 10 most expensive gemstones

Gemstones have played an integral part in human history. Treasured by kings and queens throughout the ages and believed to hold mystical powers, these precious stones can command sky-high prices. But ...

September 21, 2017

How to sell emeralds online

Highly coveted and rare, emeralds are one of the most valuable gemstones available due to their beauty and durability. This year, Harry Winston purchased an 18.04 carat emerald that once belonged to J...

September 20, 2017

How to sell sapphires online

Sapphires, which belong to the corundum gemstone family, are one of the most valuable types of gemstones in the world. Alongside rubies, emeralds, diamonds and amethysts, sapphires are known as ‘car...

September 18, 2017

How to start over after a divorce

Divorce certainly brings challenges, yet any life change brings the opportunity to start afresh. There are many ways in which you can rebuild your life after divorce, whether it be in your personal or...

September 7, 2017

How To Sell A Used Watch

You may own a luxury watch that you have never worn, or you may have worn it every single day for the past 20 years. Regardless, it will still be considered a “used watch” or a “secondhand watch...

August 31, 2017

Top 10 Most Expensive Diamonds 2017

While all diamonds are mined from the Earth, not all diamonds are created equal. Formed at 500km below the Earth’s crust, often over 3 billion years old, diamonds are created when carbon is subjecte...

August 29, 2017

Engagement ring upgrade inspiration

Engagement rings are symbols of love, fidelity, and mostly, a promise to marry your partner. However, it’s not a promise to keep the same engagement ring forever. Engagement rings are also a reflect...

August 25, 2017

Understanding Diamond Prices

Diamond prices can leave many feeling confused. With so many misconceptions about diamonds and how much they are worth, trying to understand how diamonds are valued and what makes diamonds valuable ca...

June 26, 2017

The History of Engagement Rings

An international symbol of love, engagement rings are popular throughout the world. But why is it that we wear engagement rings? And how did this seemingly age-old tradition start? Infographic cou...

June 23, 2017

How to Cope with a Broken Engagement

You started to plan your future together when… life happens.  An unforeseen broken engagement can be incredibly heartbreaking. Coping with this kind of loss can be challenging both emotionally and...

Diamond Articles: The world’s most expensive diamond 

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The story of the Koh-i-Noor, which translates as the ‘mountain of light’, is truly exceptional. So much so, that books have been written about the diamond – but despite this, no one knows for sure where i...


Jewelry Articles: October Birthstones: opal and tourmaline 

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October babies are spoilt for choice, with not one but two October birthstones to choose from: tourmaline and opal. Both incredibly versatile stones in terms of color, shape and value, tourmaline and opals have...


Watch Articles: How Luxury Watches are Priced 

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As luxury watch aficionados know, these beautiful devices have a fascinating history that goes back to the 16th century in Europe. They evolved from spring-driven clocks that were made portable with the inventi...


Diamond Articles: Newly Divorced? Here’s What to Do with the Ring 

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The end of a marriage can be a very difficult time, both emotionally and financially. One area where those two concerns intersect is the wedding ring, engagement ring or ring set. As a representation of a relat...


Diamond Articles: How to safely sell an engagement ring 

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Engagement rings are symbolic of the promise of marriage and there are many reasons why you might be looking to sell your engagement ring, especially if your engagement ring is from a relationship that has sinc...


Watch Articles: Top 5 best men’s watches 

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Choosing a men’s watch can be a challenging task, especially if you are a first time buyer and do not know where to begin. With so many options available, it can be a long process deciding on which men’s wa...


Diamond Articles: Where can I sell my engagement ring for cash? 

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When a marriage is over or you need to raise funds quickly, selling the engagement ring can make financial and/or emotional sense. But where to start? You will want to make sure that you are selling safely and ...


Jewelry Articles: How to Authenticate Tiffany Jewelry 

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Tiffany is a name that is synonymous with beauty, style, and elegance in fine jewelry and luxury watches. Some the company’s collections include: Tiffany Infinity Tiffany Keys Tiffany Soleste Tiffany Bow Tif...


Watch Articles: The most expensive watch in the world 2017 

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Luxury watches can command astronomical prices. The combination of the brand name, the value of the materials used and the labor and technology that goes into each piece creates this value. But with watch compa...


Diamond Articles: How Much Can I Sell My Engagement Ring For? 

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Engagement rings are beautiful, wearable works of art. From the classic diamond solitaire to halo rings to wedding ring sets, they come in an endless variety of shapes, sizes, and designs. And while diamonds ar...



Engagement rings are beautiful, wearable works of art. From the classic diamond solitaire to halo rings to wedding ring sets, they come in an endless variety of shapes, sizes, and designs. And while diamonds are the most common stones in engagement rings, the use of other precious and semi-precious gemstones like white and black pearls, tourmaline, rubies, opals, sapphires, and onyx is increasing in popularity.

While this variety makes it fun to shop for the perfect engagement ring, it also makes it very challenging to assess the value of a ring should you decide to sell it. As we explain below, the simple question, “How much can I sell this ring for?” can have a fairly complex answer. However, there are features of your ring that you can use to start to zero in on its value. Click on any of the engagement ring selling questions below to find out more:

 

How are Rings Priced?

As you prepare to sell an engagement ring, it’s helpful to have a general understanding of how rings are priced. There are a number of factors that impact the value of a piece. They include:

  • Type and quality of the center stone
  • The availability of a certificate for diamond rings
  • Type of metal in the band
  • Designer
  • Age of the ring
  • Where the ring was purchased
  • How much was paid for it
  • Where the ring is sold

 

How engagement rings are priced

 

Center stone

For rings that have one primary stone, much of the value is tied to that stone. The type of gem (diamond, ruby, emerald, etc.), its size, how it is cut, and its quality are all pieces of information that will help you start to determine the value of the ring.

There are defined standards that are used when assessing a diamond. They are known as the 4 Cs:

  • Carat weight
  • Color grade
  • Cut grade
  • Clarity grade

Based on these characteristics, a diamond expert can determine an accurate value for the stone, which can then be used in calculating the overall value of the ring. If the diamond has been certified by the Gemological Institute of America (GIA), these details will be indicated on the certificate.

 

Diamond certificate

Engagement rings with GIA certified diamonds generally command a higher price, as the buyer is assured of the quality of the stone(s). There are other diamond grading laboratories, but their findings generally don’t instill the kind of a confidence that a GIA inspection does. If you do not have a certificate, your local jeweler will likely be willing to take a quick look at the ring and give an opinion of the 4 C’s of any diamonds.

 

Metal

One of the reasons it can be challenging to determine the precise value of an engagement ring is that the price of the gold, silver, or platinum that its band is made of fluctuates daily. However, if you know the composition of the material, that figure can be helpful. For example, with gold, karat weight is the percentage of pure gold present. The higher the number, the higher the purity. And, of course, the more pure gold is, the more valuable it is. Do keep in mind however that the value of the metal will be minimal in comparison to the value of any gemstones.

how to sell engagement ring

Designer

Rings created by a well-known designer like Tiffany or Cartier are likely to sell faster and for more money than others. You can maximize the impact on price of a designer name if you have the ring’s original box and paperwork.

 

Age

Rings that are between 20 and 100 years old are considered “vintage,” and that designation will have a positive impact on price. Those older than 100 years are “antique” and, here again, that label will make the piece more valuable.

 

Purchase price

While the factors above all influence the resale price of an engagement ring, in general you can expect to get 20-45% of the original retail price. If you sell your ring to a jeweler, this number will be affected by their markup. Larger stores will likely have a higher markup than your local independent jeweler.

 

Why is there a Difference between Retail and Resale Value?

In general, the reason your engagement ring is worth less in a resale transaction is the idea of “markup” noted above. Jewelers have high markups in order to cover expenses such as overhead, marketing, rent etc. Meaning that when it comes to the resale of your ring, you will not recoup what you originally paid. It is also important to understand that diamonds are not investments, contrary to popular belief, therefore they will not increase in value. Much like a car, when a diamond is purchased it will decrease in value.

Another factor in the difference between retail and resale prices is the ring’s history. How was it treated? Is there any hidden damage that will have to be repaired? These kinds of unknowns cause jewelers to pay less for a ring in order to protect themselves from loss.

 

how to sell engagement ring

 

Does Where I Sell My Ring Affect the Price?

Where you sell your engagement ring can have a big impact on the price. Some of the options and their advantages/disadvantages include:

  • Websites like Craigslist or eBay: They are easy to use, but dealing with potential buyers is time consuming. And, there are the risks of being approached by people looking to take advantage of you. There is also guarantee that your ring will sell.
  • Local jeweler: This can be a good option if you know the jeweler. However, because they likely sell to a local (and therefore smaller) market, they may not have a need for your piece.
  • Pawn broker: Pawn shops are convenient, but they may not have the expertise to understand the value of your ring and make you a good offer.
  • Auction house: An auction format can help you get a higher price for your ring, especially if it is vintage or antique. But, auction houses charge fees that take a bite out of your profit.
  • WP Diamonds: As experts in jewelry valuation, we can give you an accurate assessment of your ring’s value and make a competitive offer. We offer appointments at our offices in New York, Los Angeles, Dallas, London, and Birmingham (UK). We can also provide you with a price estimate based on your description and photos, or a final price through our free and fully insured mail-in service.

 

Get a price for your engagement ring

WP Diamonds’ experts buy engagement rings of all shapes and qualities with at least one stone of 0.50ct+. Our service is free with no hidden costs and very quick. It can take as little as 24 hours from filling out the form to receiving payment. 

How selling your engagement ring to WP Diamonds works:

1. Fill out the online form

2. Receive a price quote for your engagement ring

3. Schedule an appointment OR send your ring in (we provide free and fully insured Priority Overnight Fedex shipping labels)

4. Receive a final price and get paid or your ring is returned free of charge.


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