Tips on Selling Your Old Diamond Engagement Ring

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By James Greene ©   

Selling an old diamond engagement ring may be a necessity in certain situations.  Perhaps the ring is not in use anymore or maybe one needs to replace it with a new one.  Whatever your reason for selling the engagement ring may be, there are a few different ways to do so.  Some will yield better prices than others will but all will be good ways to get rid of the diamond engagement ring and make some money from doing so.  No matter which route you choose to go when selling your diamond, here are some tips for making the selling part of the transaction go much more smoothly.

Be Realistic in the Asking Price

When you list your ring for sale, you need to be realistic in the asking price.  The best way to accurately price your old diamond engagement ring is to have it appraised.  This will ensure that the asking price is reasonable and also provide you with concrete evidence as to the true worth of your diamond engagement ring when selling it. Selling your ring will be a much easier thing to do if you know how much it is worth and price it accordingly.

Have It Cleaned Prior to Selling It

Before you sell your diamond, it is a good idea to take it to have it cleaned at a jewelry store.  Like any other piece of jewelry or any item for that matter, it will look best when presented in the most favorable light, i.e. a nicely cleaned and shiny ring.  Having your ring cleaned is easy to do and won’t cost a lot of money to do so.  It is well worth it to get it looking as nice as possible prior to offering it up for sale.  The nicer looking the ring, the more money you may make from the sale.

Thoroughly Examine Different Ways to Sell Your Diamond Engagement Ring

With the many different options for selling your old diamond engagement ring out there, you may be wondering which is the best way to do so.  The answer will depend on various factors such as the demand for diamond engagement rings in your area, the price of the ring and how you would like to sell the ring.  No matter how you decide to sell your ring, you should thoroughly examine the sales possibilities and if selling through another individual or company, make sure that the seller is a legitimate and reputable one.

Comments

  1. Noreen Quire says:

    I am interested in selling my engagment ring. It has been appraised by a Master Jeweler. Her appraisal comments: Ladies 14KY w/6 prong platinum head tiffany solitaire diamond ring containing an old miner’s cut exceptional quality diamond. The stone measures 7.2×7.4×4.4mm & weighs 1.54ct. This diamond has an undetermined antique value & replacement of a stone of this age & quality may be nearly impossible. This appraisal has taken into account a small potion of that possibility; however, completed value guidelines relating to these diamonds is not available at this time in the jewelry industry. The grading is Clarity: VVS2 & Color:E-F. Appraisal: $52,360.00. Appraisal completed July 6, 2004 by Madonna Pilcher. Now, I have researched on-line & I also learned learned this diamond was cut during the turn of the 20th century & is in fact described as: old mind cut diamond. If you are interested in purchasing or know of someone who is, I would like to sale. We can drive to make the deal- Thank you. Noreen

    • Hi Noreen,

      My thoughts are that your appraisal is over valued. I would suggest that you contact Michael Goldstein in New York City, he handles this type diamond and will tell you if he’s interested in buying it and at what price.

      The old mine cut diamonds are somewhat difficult to find. However, they are available. I’m not sure what the appraiser meant about “undetermined antique value & replacement” being nearly impossible. This type diamond is relatively easy to determine the value of.

      I have included 2 links for you below.

      Please let me know what you find out.

      Regards,

      Jim

      http://www.antiquediamond.com/
      http://www.antiquediamond.com/marketnews.html

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