Where Can I Sell My Wedding Ring? A Guide to Selling Online and Near Me.
Including
What factors affect wedding ring value?
What paperwork do I need to sell my wedding ring?
Should I sell my wedding ring for cash?
Understanding what selling option is right for me.
How long does it take to sell my wedding ring?
How much cash can I recoup from selling my wedding ring?
Local Buyers Reviewed
Online Buyers Reviewed
Where to sell your wedding ring for the most money?
Across our publication, The Diamocycle Dispatch, we discuss the many places you could sell your wedding rings and how to get the most money selling your wedding rings. Our family legacy in diamonds and jewelry began in 1857, over 164 years ago. We take pride in giving you the best advice we would provide to a valued customer. In this edition of the Dispatch, we tackle the problem of selling a wedding ring and how one should go about selling it securely to recoup the most money.
What factors affect wedding ring value?
The diamonds’ size and quality are the most significant factors affecting wedding ring value. Wedding rings with larger diamonds or higher quality will be worth more to buyers. The next factor is brand. Wedding rings from luxury brands like Harry Winston, Graff, and Tiffany will be more desirable. Antique and vintage wedding rings from popular eras will also command a premium.
What paperwork do I need to sell my wedding ring?
It is doubtful a wedding ring would have certified diamonds, but some with valuable colored stones, colored diamonds, or larger natural diamonds will be certified. Diamond reports would be supplied for the small minority of these valuable wedding rings. For the vast majority of wedding rings, a bill of sale would be helpful, and a diamond appraisal stating the total weight and quality of the diamonds. A GIA graduate gemologist should conduct the appraisal.
Should I sell my wedding ring for cash?
Wedding ring buyers that pay cash generally offer this service because they are paying a low percentage of value. However, a reputable diamond buyer does not offer cash as a payment method. If you need to sell today, we give you some fast solutions to sell your wedding ring now, so please read on.
Understanding what selling option is right for me.
Two factors determine the place you should sell your wedding ring. The first is the quality of your ring and its value to buyers, and the second is your urgency to sell. If you have to sell your wedding ring to an online marketplace is not an option, but if you can wait for a retail buyer, this is the best way to get the most money. A luxury auction like Sotheby’s is not the right place for a commercial wedding ring but could be an excellent way to sell a rare antique ring with a storied provenance.
How long does it take to sell my wedding ring?
We offer the below guide with the estimated time it takes to recover funds from each selling option.
How much cash can I recoup from selling my wedding ring?
As we noted above, selling for cash is never an ideal option, but you will likely receive 10-50% of the retail cost of your wedding ring, depending on which selling method you opt for. We provide the likely outcome below.
Local Buyers Reviewed
Pawnshops-Example Cash America Pawn, or Single Unit Brick and Mortar Pawn Shop
Time of Transaction: Immediate
Percentage of Retail:5-10% average
Safety Risk: Low
Fraud Risk: Low
Time spent: Medium
Gold Buyers-Example Single Unit or Multi-unit Gold Buyer.
Time of Transaction: Immediate
Percentage of Retail:5-10% average
Safety Risk: Low
Fraud Risk: Low
Time Spent: Medium
Jewelry Store-Example Single Unit Brick and Mortar Jeweler/Or larger Chain Jeweler.
Time of Transaction: Immediate
Percentage of Retail:10-15% average
Safety Risk: Low
Fraud Risk: Low
Time Spent: Medium
Online with an In-person transaction
Craigslist-
Time of Transaction: Long
Percentage of Retail:30-50% average
Safety Risk: High
Fraud Risk: High
Time Spent: High
Facebook marketplace
Time of Transaction: Long
Percentage of Retail:30-50% average
Safety Risk: High
Fraud Risk: High
Time Spent: High
Online Buyers Reviewed
eBay
Time of Transaction: Long
Percentage of Retail:30-50% average
Safety Risk: High
Fraud Risk: Medium
Time Spent: High
Overnight Online Diamond Buyer-Example, WP Diamond
Time of Transaction: Short
Percentage of Retail:10-20% average
Safety Risk: Low
Fraud Risk: Low
Time Spent: Low
Jewelry Auction Specialized-Example, Worthy
Time of Transaction: Short
Percentage of Retail:10-20% average
Safety Risk: Low
Fraud Risk: Low
Time Spent: Low
Luxury Jewelry Auction-Example Sotheby’s
Time of Transaction: Medium
Percentage of Retail:15-30% average
Safety Risk: Low
Fraud Risk: Low
Time Spent: Low
General Auction-Example, Everything But The House
Time of Transaction: Short
Percentage of Retail:15-30% average
Safety Risk: Low
Fraud Risk: Low
Time Spent: Low
Diamond Specific Marketplace-Example Diamocycle.
Time of Transaction: Medium
Percentage of Retail: 40-65% average
Safety Risk: Low
Fraud Risk: Low
Time Spent: Low
Where to sell your wedding ring for the most money?
Online marketplaces to retail customers have the highest percentage return for sellers of wedding rings. The problem with most marketplaces is that there are fraud and safety concerns with an in-person transaction. A vetted and secure marketplace for sellers and buyers of preowned rings is a must to protect both parties. We operate one such marketplace. Please submit your wedding ring here. https://www.diamocycle.com/sell-a-diamond