A divorce, a ring upgrade, a hardship, an inherited ring you do not use; these are just some of the reasons why you may be thinking about selling your engagement ring. An engagement ring is not just any other ring. Oftentimes, it is a ring that is filled with many good memories and emotions. It is also, perhaps, the hardest piece of jewelry to part ways with. But once you do come to the decision of selling your engagement ring, the first thing to consider is the emotional value. By now you are probably thinking I already have, and that is great! But have you separated the emotional value from the numerical value?
It is important to go into the process of selling your engagement ring knowing that what you hope to receive for your engagement ring may not match the numerical value that you will receive for it. In order to have a true idea of what your ring is worth the first step is to gather all the information that you have available on about your ring. This would include all of the diamond and ring certificates.
If you realize that you lost your engagement ring’s paperwork, specifically the diamond certificates or perhaps never got a copy of it, that is ok. There are a few options that are available to you that will help you to determine your rings value:
- Certify Your Diamond Independently.
- Get a jewelry appraisal.
- Sell your engagement ring without any certificates.
Certify Your Diamond
Certifying your diamond engagement ring will provide with you with all the characteristics of your stone which in turn will give you the most competitive quote to sell. The only disadvantage to certifying your engagement ring is that you will need to send the diamond ring to a gemological laboratory which can cost both in time and money. Depending on the size of the stone it can take up to 3 weeks and can cost approximately $150. It is also important to note that obtaining the certificate does not automatically mean you will receive more money for your stone. It does however mean that you will get the most competitive quote when you are selling engagement ring for cash.
Did you know that your local jeweler can provide you with both a written and verbal appraisal? An appraisal is in essence the jeweler’s opinion of the stone’s characteristics. Generally, you can have an appraisal done the same day, which can sound appealing. The jeweler will be able to point out specific insights into your diamond, for example they can tell you characteristics like the carat weight, color, and clarity amongst others. While the quickness of a jewelry appraisal is appealing, its main disadvantage is that it relies on the opinion of the specific jewelry appraiser that is evaluating your ring. An appraisal is beneficial for insurance purposes, not necessarily for re-sale value.
Sell Without Paperwork
It is possible to sell your engagement ring without having any paperwork, but you should know that any legitimate purchaser will want to see it in person before giving you their best price. This can potentially put you in a sticky situation.
Another option that can be explored is to work with an online jewelry buyer such as iValue Lab. With them, selling a diamond ring has never been easier. You can do the entire process from the comfort of your home by completing their appraisal form. Once you submit that, one of the teams account managers will contact you with an estimated buying offer for your engagement ring. Once you accept, you will then send the ring to their laboratory (at no expense to you) to be evaluated. Rest assured, this entire process is ensured and recorded for your peace of mind.
Finally, one of the team’s in-house gemologists will evaluate and appraise your jewelry and contact you with a final offer. It is then your decision to agree or request the stone back. By working with a company such as iValue Lab, you mitigate your risk and can confidently know that you are getting the best possible value for your engagement ring as the team fully reviews the diamond to ensure you are getting the best quote possible.