Selling engagement rings from a past relationship shouldn’t really have to be a difficult decision. Holding on to it is unhealthy and impractical. The most sensible thing to do is to sell it to finally let go of a memento that’s tying the owner to their past and provide them a little boost in their finances. There are several options for the owner of the engagement ring to sell to. The most popular option is usually the locale’s famous jeweler as it doesn’t entail much effort to sell the item. But there are also some other options that sellers should be aware of if they want to get the best value for their rings. Here are some of the most popular ways to sell them.
- The local jewelry store. As previously stated, this is a viable option but not recommended for those who want to have the best value for their trinkets. It’s undoubtedly the most convenient since the transaction happens only in a few minutes. But appraisals are generally on the lower side. This option should only be picked if the owner has no time to find better offers.
- Auction sites. Websites that auction off diamonds and other jewelries offer great appraisals. The drawback is that they don’t usually say the actual net value that the owner will receive. What they indicate is the flat market value, without having to disclose the fact that there is a 15% to 20% seller fee. Some auction sites are sensible enough to state this, so it’s entirely up to the owner of the ring if they are willing to part with the 20% value.
- Private buyers. This can be jewelry collectors or people who simply want to invest in jewelries. Appraisals are usually high, but there are arbitrary factors that might make transactions take longer. To have an easier time selling to private buyers, checking out websites such as speedydiamond.com and other online buyers is recommended. Some of these online buyers, including the one mentioned, are branches of larger companies that sell diamonds in stores. They are tasked with providing supplies to their storefront branch and buying from those who want to part with their jewelry is one way of doing so.
Those who are stuck asking themselves, “So which one’s the best option to sell my diamond?” This depends on the available time that the jewelry owner is willing to put into it. Naturally, the third option might take longer just because it has to be done through mail. But they are usually the ones that have the best deals.