If you have decided that you want to sell your engagement ring, then you have come to the right place. Our website has reviews on the top online diamond buyers in the industry as well as helpful articles, like this one, so you can earn the most cash for diamonds. So you’re wondering how much money you can sell your engagement ring for, and the answer to that question lies in the value of the stone, setting, and how much profit the buyer receives. We go into more detail on each one of these things below to help you better understand what your engagement ring is worth and how much you can expect to make when selling your engagement ring online.
|WP Diamonds||Diamond Buyers International|
Engagement Ring Diamond Value
There are many reasons why it is difficult to value a diamond, but you can still get an estimate of its size and other characteristics to see what it may be worth. If you do not know how many carats your diamond is, use our diamond carat size calculator to get its weight. The other diamond characteristics that affect its value can be found in our Diamond Value Guide. Once you have estimated where your diamond falls on each of the four rating scales, you can begin comparing it to other diamonds that are for sale. Use various online retailers to search for loose diamonds that are similar in grade to your diamond. This will be a good baseline for you to start with for know how much you will get when selling your engagement ring.
Engagement Ring Setting Value
The setting of an engagement ring and any piece of precious metal is much easier to value than a diamond or gemstone. Precious metals like gold, silver, and platinum and all command a certain market price based on a variety of economical factors, similar to the stock market. These prices are generally calculated at the price per ounce of metal; for example gold may currently be priced at $1,000/oz. So by weighing your precious metals or engagement ring setting, you can estimate its value, but you still have to know the purity of the metal.
Here is an example of valuing and engagement ring setting:
Weight of setting: 15 grams
Purity of setting: 18k gold
Price of Gold: $1,000/oz. (Converted for grams – $35.27/gr.)
If 24k is 100% gold, then 18k means that only 75% of the 15 grams is gold (15 x .75 = 11.25 grams of gold).
11.25 grams of gold priced at $35.27/gr. means the value of the setting is $396.79 (11.25 x 35.27 = 396.79).
Selling Your Engagement Ring
You have found out an estimate of what your engagement ring is worth, now you just need to select a buyer after looking through our diamond buyer reviews. While there is no cost to sell your engagement ring, the online diamond buyers need to make money in order to stay in business, so you will not be offered the full value of your engagement ring. The online buyer will reuse your diamonds and setting or sell the ring as it is to someone else. This is where the online diamond buyers make their money. You may think that it is unfair, but it can be extremely difficult for an individual, like yourself, to find a buyer for an engagement ring and still get the price you are looking for. With online diamond buyers, just send in your ring and they can have a deposit in your bank account by the end of the week. Many people are seeing the benefits that online diamond buyers provide when it comes to selling jewelry. Be sure to look around our site to find more great info on selling engagement rings and other jewelry.