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3 Must Read Tips for Selling an Engagement Ring

Special to OneWed by Gabi Gesch from Have you been thinking about upgrading your engagement ring or do you have a one leftover from a relationship that didn’t last? Instead of letting it collect dust in your jewelry box, there are a variety of ways to sell an engagement ring. The amount of choices and the things you have to consider is almost overwhelming. After reading a variety of articles, blogs, and interviewing a private jeweler, here are some top tips to selling a pre-owned wedding ring: 1. You Can’t Always Get What You Want You are not going to get what you originally paid for the ring, nor are you going to get what it is appraised for. Whether the ring is from an ended marriage or you’re selling a vintage ring passed down from a family member, a previously owned ring is not going to sell for as much as a new ring. 2. Get it Appraised Get your ring appraised by a professional jeweler who has appraisal certification and training. You can also find an appraisal association or network within your community by looking online. Try to avoid chain stores as not everyone who works there is qualified to apprise and information given may be incorrect. If you are unsure about the price that was given, you can always find a second opinion from another certified appraiser. 3. Explore Your Options There are various options to choose from when deciding how to go about reselling your engagement or wedding ring. Here are a few choices to consider: a. Pawn Shops – Probably the last place you want to consider if you are in hopes of earning as much back on your ring as possible. They will offer you the least amount of money compared to other options. They want to sell the item quickly and so will have a lower price on the item, thus offering you less money. b. Consignment – Instead of going to a consignment shop that sells everyday items, I would suggest finding a shop specializing in selling jewelry or a willing jeweler. Try hitting up the place you purchased your ring from, especially if it is an independent jeweler. Remember, consignment means that if the item is sold, the jeweler or store will take a percentage of the sale. Think of this as a fee as your item is taking up shelf space in their shop. Each place will have different policies, so be sure to check what they are. c. JewelersJewelers are a good option, but they may not offer what you want on your jewelry, especially if you go to a chain jewelry store. Again, try hitting up an independent jeweler. Although an independent jeweler may offer more than a chain jewelry store, they will still not offer the appraisal price that you bring in. Also, vintage jewelry might be worth less at a jeweler, as they have to consider what is in style and what is in demand and thus you might have to venture elsewhere. See next bullet… d. Auctions/ Antique Shops – If you have a high valued vintage ring, custom or unique jewelry, perhaps an auction house or high-end antique store is an option for you. The people who shop here are specifically looking for unique or vintage pieces. Go to the antique stores and auction houses in your area to find out what their policies are and what their fees may be. You could end up with a great amount… or, in the case of the auction house, you could end up with much less than what you anticipated. e. Online – Many people believe that this is the best way to earn the most money back for your engagement ring, as you are able to reach a much larger audience. There are a good amount of sites to choose from - i.e. Ebay, Craigslist, online high-end auction sites and bridal marketplaces like BravoBride- and each site has different policies, payment methods, security options, and some charge a fee. So do your research and list as much information on your jewelry as possible. I.e. high quality photos, receipt of cleaning and repair, documentation of cut, color, carat and clarity, and the document of appraised value. Just as you wouldn’t want to be swindled by an online buyer, an online buyer doesn’t want to be swindled by an online seller. The Internet is a great option to earn back your investment, if done correctly…just remember to do your research. Would you consider buying or selling a pre-owned engagement ring? Post a comment to share your thoughts! And if you love the bling featured above, check out all the stunners from! P.S. Enter our Ultimate Proposal Contest to WIN platinum and diamond wedding bands (and a luxe honeymoon!)
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