Selling a diamond engagement ring is a simple process when you know what you are doing. By following the steps we have laid out below, not only will you find a convenient way to sell your ring, you will also have given yourself the best opportunity to earn the most money while doing so. The more knowledge you have about diamonds and the way they are graded, the more you will be able to understand how diamond buyers placed a value on your engagement ring.
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1. Find A Diamond Buyer
There are many organizations out there that will compensate you for your diamond ring. These businesses can be found locally, as well as online if that is the route you want to go. Each type of diamond buyer has their advantages over the other so it really depends on what is most important to you. For example, a pawnshop will not pay as much as an online diamond buyer, but you will be able to receive cash that same day. You can use reviews to check out the local diamond buyers along with some of the online businesses that are known for paying top dollar for diamond rings.
2. Get A Valuation On Your Ring
Whether you decide to sell online or locally, the diamond buyer will assess what you have before making their offer. The diamond will be graded on various scales that determine how much the stone is worth. The precious metals that were used for the ring setting will be weighed and compared to their current price in the market. After determining the value of the ring, the diamond buyer will find a price that they think they can profit from. Online diamond buyers will make one offer, while with a pawnshop you may lose out on money due to a lack of negotiation skills. It is also a good idea to have multiple places value your diamond engagement ring to give you a better idea of what it is worth.
3. Sell Your Diamond Ring
If you have decided to sell your diamond ring to a pawnshop, then you will likely get cash. Online buyers may have different options available. You should look into the types of payment available before selecting which online diamond buyer to use. If an online diamond buyer offers wire transfer, the money is often in your account within 24 hours of you accepting the offer. There is also the option to get paid through a check in the mail, or using an ecommerce platform like Paypal. This is how to sell a diamond engagement ring and if you follow these steps you will have a good experience when selling jewelry.