You may be ready to sell your wedding ring after a divorce or split for emotional reasons, or you may want the funds. Whatever the reason, now is a critical moment to sell your engagement ring, in part because there are several reputable, secure, and transparent jewelry sellers out there who will give you the most money.
Determine the Value of Your Ring
Before selling any jewelry, you should always have it appraised by a third party, not related to the person who sold it to you. You may receive a competent assessment for your ring by taking it to any professional jewelry appraiser. To receive an accurate appraisal, you should take it to numerous appraisers. It will give you a fair indication of how much your ring is worth today and how much it may sell for in the future.
Here are the items you’ll need for your appraisal:
- Any ring-related paperwork (like a GIA certificate)
- previous evaluations
- Insurance policy
- Bill of sale
After your inspection, you’ll know what kind of stone/cut you have, the overall carat weight, precious metal, ring style, and any specific characteristics that might make it more expensive. These are the selling elements that will earn your ring the best price.
Places to sell Wedding Rings
1. Jewelry shops
The majority of jewelry businesses function only to sell newly bought wholesale jewelry. There are a few stores that provide fantastic value and are typically safe to deal with it. The primary disadvantage is that finding a store that is interested in buying your wedding rings. Also, one that can provide fair market value may be difficult. Remember that you’ll need to shop around, get quotes, and compare prices to get the best deal.
2. Consignment shops
Working with consignment retailers has two drawbacks: the time it takes to find a qualified buyer and the high cost of consignment. Consignment shops often charge 20% to 50% of the sale price, and you get whatever is leftover. Consignment stores, like jewelry stores and pawn shops, are generally risk-free. Read reviews and thoroughly study the shop’s policies before opting to sell your wedding bands.
Pawnshops have been around for thousands of years, with everyone from ancient Greeks and Romans to kings turning to them for a quick way to get cash for their valuables. Pawnshops are now well-regulated and generally safe locations to do business. On the other side, if you decide to pawn your jewelry, you are unlikely to get much money for it. Even yet, pawn shops are a dependable source of quick cash if you need to liquidate your wedding rings and convert them to cash in less than a day.
The massive buyer audience is one advantage of selling on eBay. The absence of bodily presence, however, is a drawback. A photograph of a ring does not do it credit, and it is insufficient to justify a premium price. It’s possible that if you price your jewelry more than these customers expect, it won’t sell at all.