Sell Engagement Ring

Whether you’ve been passed down a precious heirloom or want a fresh start free from any reminders of your relationship, the decision to sell an engagement ring can be an emotive one. Letting go can free you from constant reminders of the past, including the burden of unfulfilled hopes and dreams. It also provides an opportunity to start an important new chapter in your life. As you navigate the process, it’s normal for doubts and questions to arise – will you get the right price? Will you come to regret the decision? What does this mean for your memories together?

Ultimately, the choice to sell your engagement ring is deeply personal, and different people will have different motivations and circumstances for doing so. What’s important is to take your time, listen to your instincts, and chat the decision through with friends, families, and even professionals if you feel that’s what you need.

There are numerous stages of preparation when it comes to the question of how to sell an engagement ring. Here, we outline the 3 main steps:

1. Decision making. Before starting the journey to sell an engagement ring, it’s wise to take the time to reflect on your reasons for selling. This includes its emotional significance and the outcome you hope to achieve – whether psychological, financial, or both.

   
   Many find that selling an engagement ring provokes a rollercoaster of feelings, so it’s smart to approach it with the utmost understanding and compassion for yourself.
   
   

2. Professional valuation. When you have made the decision to sell an engagement ring, the next step is to get a professional valuation. This involves finding an expert valuator, who will inspect the quality and condition of your diamond or gemstone, looking closely at its composition and any unique features. You can find jewelry appraisers through your local jeweler, auction houses, online brokers, and professional organizations such as the Gemological Institute of America (GIA) or National Association of Jewelry Appraisers (NAJA).
   
   They will also assess its craftsmanship, paperwork (if any) and if it’s a diamond, the 4 Cs (cut, color, clarity, and carat weight). This will give you an accurate understanding of the market value of your engagement ring, you can set realistic expectations and decide on your selling price.
   
   

3. Finding a place to sell your engagement ring. Now you have a professional valuation, the next stage is to decide where to sell your engagement ring. You will find there are many different options, both online and offline, each with advantages and disadvantages. Later in the article, we’ll discuss some of the most popular. 

Understanding the value of your engagement ring is particularly important when you're looking to sell it. An accurate valuation, which inspects the quality of the diamonds or gemstones, the metal used, and the craftsmanship, allows you to make informed decisions about its sale. Knowledge of its market value supports you in achieving a fair price for your ring, aids in negotiation, and gives buyers confidence that they are making a sound investment. The value of your engagement ring is determined by a number of factors. These include:

The 4 C’s of the Diamond

If your engagement ring has a diamond, the professional valuing your ring will consider its categorization according to the 4 Cs – cut, color, clarity and carat weight. These are graded based on criteria established by gemological laboratories such as the Gemological Institute of America (GIA) and the International Gemological Institute (IGI).

Originality

The valuer will also take into consideration the originality of the jewel, including if it has any unique or stand out features. This might be an unusual setting, or if a combination of metals has been used to enhance the design.

Condition

The value of your engagement ring is also subject to its condition. This is why it’s important to take care of your stone with regular polishing and cleaning to maintain its natural sparkle. The valuer will be looking for any scratches or chips, the integrity of the setting, and everyday wear and tear.

Historical Period

If your engagement ring is from a certain historical period, as is often the case with heirloom diamonds, this can positively impact its value. Desirable historical periods include Victorian, Retro, Edwardian, and Art Deco, as they tend to evoke nostalgia, distinct design styles and intricate craftsmanship.

Brand

Certain brands of diamond engagement ring are given a higher value for their prestige and reputation for quality. This is often the case with diamonds from Tiffany & Co., Cartier, Bulgari and Van Cleef & Arpels. Many are willing to pay more for the brand association and creative design that comes from some of these leading fine jewelry houses.

Local jewelry stores

Selling your engagement ring to a local jewelry store can be an enticing option, especially If you have visited them before and you feel confident with their staff or transaction process.

However, while physical stores can offer the reassurance of convenience and familiarity, they are often limited in reach and even expertise specific to selling certain types of diamond engagement rings.

Auction houses

Auction houses are another traditional way of selling an engagement ring. Your ring is accepted as part of a curated “lot” alongside other valuable items and marketed to potential bidders. They usually have a structured process that involves a valuation, cataloging, and a live auction.

Selling an engagement ring with an auction house offers the chance of securing more for it than you expect, although it can be an uncertain, nerve-wracking, and lengthy avenue. The sales process can take several months, and major auction houses such as Christie’s or Sotheby’s can take up to 15% commission, in addition to charging for shipping, marketing, and cataloging. Together with LDL (loss, damage, and liability insurance), this makes it likely you will receive less than you expect. 

Online marketplaces

Selling your engagement ring online with websites such as eBay or Facebook marketplace can expose your sale to a vast network of potential buyers from all over the world, but with this comes a need to exercise extreme caution.

Even though you have the flexibility to create your own listing and set your price, these places are often rife with fraudulent activity and potential scammers. Be sure to read the terms and conditions carefully so you understand the protections you will have and consider taking out specialist insurance before you post your engagement ring.

Private or specialist jewelry sellers

Engaging with a private or specialist jewelry seller often leads to a more personalized approach to selling your engagement ring. They often specialize in specific types of jewelry, and even high-quality, unique pieces they believe will attract the most discerning buyers.

However, while they may grant you access to their knowledge and industry connections, a private jewelry seller is likely to charge a high commission. The size of their reach will also determine the length of time it takes to sell, and you may find a degree of subjectivity in your engagement ring’s valuation.

Online broker -  Auctentic

More and more, those deciding where to sell an engagement ring are opting to sell with a trusted online broker such as Auctentic. With an in-house team of GIA and iGI certified gemmologists, a 24-hour payment guarantee, and a network of over 2000 international buyers, we can help you to sell your jewel in approximately 3 days. Plus, by taking a commission from the buyer, as opposed to the seller, our team work on your side to ensure you receive the best possible price for your jewel.

Whichever option you choose, it’s essential to conduct thorough research to make sure your sale is secure and trustworthy. When deciding the best way to sell an engagement ring, we recommend keeping an eye out for buyers or platforms that pride themselves on professionalism, transparency, and fair pricing.

1. Free appraisal. Receive a free, professional valuation from our GIA and IGI certified gemologists. Simply post your engagement to us using our free, fully insured delivery service, and we’ll give you an accurate insight into its current market value.

2. Free preparation. We’ll help you to prepare your engagement ring for sale, including cleaning, polishing and professional photography. We will then market it to our network of over 2000 international buyers. As we take our commission from the buyer, it’s in our interest to work on your behalf to secure the best possible price.

3. No obligation to sell. Our services come with no obligation to sell, and you are free to terminate your agreement with us at any time if you are not confident or happy.

If you are wondering how to sell your engagement ring for the most money, Auctentic might just be for you. Get started by getting in touch with our expert team today, who will be delighted to assist you in selling your diamond or gemstone with confidence.