Why, How, and Where to Buy Engagement Rings Used

Why, How, and Where to Buy Engagement Rings Used

Across our publication, the Diamocycle Dispatch, we discuss the many places you could buy engagement rings. Our legacy in diamonds and jewelry began in 1857, over 164 years ago. We take pride in sharing the advice we would provide a valued customer. 

Why Buy Engagement Rings Used

The following are the 4 top reasons to buy engagement rings used. 

1.You are making a savvy financial choice.

Engagements like cars depreciate the moment you buy them. Engagement rings go through several channels of markups. A wise shopper lets the first consumer pay for these markups and then buys a gently used or timeless vintage ring at a bargain.

2. You are buying an environmentally sustainable recycled diamond ring.

Let’s face it diamond mining is not suitable for the environment. So, buying a recycled engagement ring is opting for the planet. So, you can save money and help Mother Earth. 

3. You can get a luxury used diamond ring for the same price as a budget new diamond ring.

If you have the budget for an economy new diamond ring, why not opt for a luxury used diamond ring. You are shopping like an experienced jewelry buyer and getting all the bling for less. You will be surprised by the ring you can afford if you shop for a used engagement ring. Wise jewelry buyers know that buying jewelry used is the secret to having the jewelry you want, but for much less. 

4. The internet makes shopping for a used engagement ring easier than ever.

It used to be that shopping for a used engagement ring meant visiting a depressing pawnshop or expensive consignment jeweler. Times have changed. The online jewelry auction and diamond-specific marketplace suggest that buying a used diamond ring securely and with confidence can be accomplished from the comfort of your home. 

How to Buy an Engagement Ring Used

The internet is the best place to buy an engagement ring used. The reason is that sellers on the internet have lower overhead than brick-and-mortar sellers. Websites that offer for sale by owner engagement rings are many. There are a few of our favorite options. For the experienced purchaser, the auction format can be an excellent place to shop. Our two favorite auction platforms are Everything But The House and Sotheby’s. Sotheby’s is an ideal place to buy luxury engagement rings, and Every Thing But The House is fun to shop for used engagement rings. Sotheby’s does have an expensive buyer’s premium, so be aware. Everything But The Houses charges an expedited fee for credit card purchases, which we believe is fair. If you were a well-researched buyer, you could purchase a ring at a discount on Sotheby’s or Everything But The House. While auctions can be exciting places to shop, overpaying can be easy. Buyers get competitive and lose track of the market price for the ring they are shopping for before. Our pro tip is to have a budget and know what the ring you are bidding on is worth. Make sure and add all the expenses of the auction.

Avoid bidding on treated diamonds or lab-created diamonds. Our favorite gem labs are GIA and AGS being a close second. GIA is the global leader in grading white and colored diamonds. When shopping for an engagement ring, make sure it has a diamond certificate from a gem lab or will be inspected by a 3rd party lab before delivery. While having a diamond certificate is preferred when shopping for used diamonds, this is not always possible. While auctions are an interesting and exciting way to buy an engagement ring, they are more geared towards the professional dealer. Remember, it is easy to over-pay in an auction, and the sale is final. Our preferred venue for non-professional buyers is the diamond-specific marketplace for engagement rings used. 

Where to Buy Engagement Rings Used

At Diamocycle, we have a diamond-specific marketplace to purchase engagement rings used securely. The advantages of this format are the following.

Your funds are safeguarded until the transaction is complete.

We hold onto your funds and do not release them to the seller until after the return date is passed. You have the option to return the used engagement ring. This is unlike an auction where the sale is final.

A third-party lab inspects your used engagement ring for authenticity and to ensure it conforms to the listing. 

You can rest assured that an independent expert has inspected your ring, and an appraisal for insurance has been supplied. 

Our marketplace regulates your used engagement ring’s price, so you do not over-pay. 

It is accessible to overpay when shopping in an auction, and that’s why we use a proprietary pricing formula that ensures you pay a fair market price. We do not allow sellers to over-inflate the cost of their used engagement rings. 

You have the option to return your purchase.

We understand that you need to be happy with your purchase. We offer a period for you to get to know your ring and be thrilled. If you change your mind, we understand. Auctions are final scary purchases. We at Diamocycle want our buyers to be confident, knowing they are paying a fair price and purchasing what they intended. Start shopping here. Diamocycle Marketplace