How do I get rid of my old engagement ring?

How do I get rid of my old engagement ring?

While an online ring buyer is likely best, you have several options for selling an engagement ring:

1. Local jeweler or diamond exchange.
2. Local cash for gold/silver/diamond store.
3. Local pawn shops.
4. Jewelry auctions.
5. Consignment shops.
6. Marketplaces like Etsy and eBay.

How much can you get for an old engagement ring?

In most cases, a diamond engagement ring or other diamond jewelry will have a resale value of between 20 and 60% of the amount it cost when it was new.

Can you sell an engagement ring back to the store?

The return option is the quickest way to exchange the ring for your money back. Most of the time, though, the engagement ring value is halved once you walk out of the jewelry shop with it. Regardless if your partner wore the ring or not, jewelry shops will consider it as a used one.

Can you sell a broken diamond?

So you’ve broken or damaged your precious diamond jewelry. Don’t worry, it isn’t the end of the world. No one likes to see their valuables broken or damaged, but you can always try to get it repaired. If that doesn’t work, you can sell it.

Why is diamond resale value so low?

Why is diamond resale value so low? To understand why a diamond’s resale value can get so low is to first look at the retail prices of the diamond. In many retail diamond stores, management sets the prices at a high margin to earn a profit. So the diamond can be priced twice the amount than it originally is.

Can you sell a ring back to Kay Jewelers?

Kay Jewelers makes a straightforward commitment to buy back your ring at the original retail price (minus taxes and shipping). The actual market price isn’t a factor in the offer and they may even be paying slightly over the actual second hand value of the ring.

How do I find out what my ring is worth?

The most straightforward way to figure out the market value of a diamond is to check the prices of stones with the same carat weight and of the same clarity, cut, and color grades. You can do your research online and calculate an average price, which will serve as an estimate of your diamond’s value.

How much can I sell a loose diamond for?

In this case, a new diamond that has the same carat weight, cut, and GIA gradings as your diamond is now selling for $250 less than the initial retail price of your diamond….Does a diamond have a resale value?

What do you do with a broken diamond?

The first is to recut the stone; the jeweler will remove the broken section and reshape your diamond into the desired cut, then return it to you good as new. Of course, this does mean your diamond will be a little smaller than it was originally, but it will still retain the fire it always possessed.

Is 2021 a good time to sell diamonds?

Also, if you are on the fence as to whether now is a good time to sell your diamond, the answer is yes. Diamond prices are up at about 30% over the past couple of years (keep reading to learn why)….Diamond resale value chart.