Do you wish to sell a diamond engagement ring in your possession? It could be that you’ve separated from your partner who proposed with a diamond ring, or maybe another beautiful ring caught your eye, and you decided to upgrade. Whatever the reason, you can sell your diamond ring for cash.
However, to receive high value for your engagement rings, you need to know what type of ring it is by doing comparative research and making sure you’re ready to take this step. Engagement ring buyers only go for quality diamond rings, so make sure yours is the real deal.
Nonetheless, if you plan to sell a diamond engagement ring and need a guide, this article will prove helpful to you.
Why Sell Diamond Engagement Rings?
The sale of diamond rings happens for various reasons. These are:
- Source of emergency income
- Separation from Partner
- Turning inheritance to cash
- Safety
- A new fashion for different seasons
1. Source of Emergency Income
Diamond rings are of great value and can be sold for cash if you are in immediate need. Though the sale of such jewelry may be hard due to its sentimental value. Notwithstanding, it is better to sell the engagement ring for cash than go for a loan or reach out to a lender.
2. Separation From Partner
Divorces are not a delightful reason to sell diamond engagement rings. Still, it is common. Dealing with such a sad event or passing through such a stage with a diamond ring in your hand can be difficult. Therefore, it is only reasonable to get rid of that jewelry as its sale can help generate money too.
3. Safety
Diamonds are the main target for thieves due to their monetary value. Thus, raising a cause for worry. Therefore, it is sometimes best to sell a diamond engagement ring and keep the money rather than lose such a piece of valuable jewelry. This is a better option especially if you don’t have the ability to keep it safe.
4. Turning Inheritance Into Cash
For many who receive pieces of diamond jewelry as inheritance, they may choose to sell them rather than hold on to it. The money earned can be used for other important purchases.
5. A New Fashion for Different Seasons
Trends come and go. If you have a diamond ring you do not like anymore, consider selling it to get better ones that fit the current trend or your style.
Importance Of Choosing A Reliable Dealer Before Selling
Before you sell a diamond engagement ring, you must go to a reliable dealer. Here is the importance of having a reliable dealer:
- A reliable dealer has a good reputation. They have good testimonies from previous clients and will not try to dupe you by offering less money for a ring worth much more.
- A reliable dealer is certified by a reputable gem laboratory. Going for such dealers means you get an accurate certificate for what you’ve sold.
- They only offer accurate prices. They do not tend to overcharge and will always tell you the right price for your diamond ring based on its value, and this will give you the worth of your money.
- A reliable dealer provides the necessary information their clients need to know to ensure they understand the basic concepts. A good dealer will not withhold this information, whereas an unreliable one will use that lack of knowledge to their benefit.
- They always carry trusted brands, and this increases their credibility. Customers will feel safe knowing a dealer has a variety of nice diamond rings and jewelry from reliable brands. Due to this, the clients believe they’ll be offered a great price.
What To Expect When Selling Your Diamond Engagement Ring?
When selling a diamond, you should expect to lose about 25% to 50% of the diamond’s cost value. Even though its value does not shift like gold’s rate, you will likely sell a diamond engagement ring below the price you bought it for. For example, the average cost of a Singaporean 1-carat diamond engagement ring is S$2,066.30, but its resale value will go for less.
Factors such as where you bought the diamond ring, its original worth, and where and how you choose to sell the engagement ring for cash affect the resale price of the diamond ring.
Where you bought the diamond ring
If you buy a diamond ring from a jewelry store, it will cost more than buying directly from a wholesaler since these diamond ring buyers add markup prices. When it comes to its resale, you’ll lose more since you’ll be paying twice what the jeweler paid.
Worth of the diamond
Diamonds vary in value based on their cut quality, color, clarity, and carat weight. A knowledgeable jeweler will check the diamond’s certificate to ascertain its quality. Diamond ring buyers surely will go for high-quality diamond rings over poor-quality ones. Nonetheless, it will be worth less than the actual retail price.
Where you choose to sell
If you choose to sell a diamond engagement ring at a jewelry store, you’ll sell it cheap. Going to a pawn shop is worse as they sell below the market price. The actual retail price of a diamond engagement ring is hardly ever regained.
Why You Should Sell Your Diamond Ring To Sell Your Jewelry (The Benefits)
Choosing to sell a diamond engagement ring to us is the best decision to make, and we’ll tell you why.
We are a jewelry and gemstone buyer specialist located in Singapore. We offer incredibly reasonable prices on second-hand items due to our gemologists’ expertise and our global network. By selling your diamond rings to us, you receive a free consultation from an elite gemologist with no obligation to accept his offer.
Furthermore, we work with transparency and ensure the provision of important information in its entirety to our clients to help them make the best decisions when it comes to diamonds and other jewelry.
We also work with top gemological laboratories worldwide and provide all documents required by the law. We pay well and depend on official market rates of jewelry and diamonds. Thus, the best way to sell your engagement ring is by selling it to us.
If you desire to sell an old diamond ring for money, instead of wasting time visiting pawn shops and jewelry stores that will offer a lesser price value, our expert gemologist will be glad to help you.
Selling your ring is as easy as contacting us by filling the form made available below and setting a free consultation with a top gemologist. We’ll be pleased to help you get your money’s worth by the sale of your diamond ring.
SELL YOUR JEWELRY, GOLD & DIAMONDS FOR THE BEST PRICE
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Sell Your Jewellery Singapore
Official diamond and precious metal buyer in Singapore. Accredited GIA gemologists offering transparent appraisals, spectrometry testing, and immediate PayNow payout.
