Selling your diamond engagement ring can be due to a variety of reasons. It is not necessarily because of the end of a relationship, but due to financial demands. To avoid going to sell any diamond ring blindly, there are various factors to consider. Knowing the processes and facts will allow you to be well-informed and give you the best deal you can get.
You must not be opportunistic about the amount of money you could get from the sale of your diamond engagement ring. It pays to invest your time and efforts into the research to get in-depth information, which you can find online on how to sell a diamond ring by Ringspo. The factors to consider include:
Diamond estimate value compared to the list price
Most of the time, the estimate price is influenced heavily by the purchase price from the appraisal certificate issued at the point of initial sale. The suggested estimate will often be lower compared to the value certificate. You can’t expect it to be higher or at the same level. It just sets the base price, when going to sell your diamond ring.
One thing for sure though; the diamond ring value is never directly taken from its estimate. The estimates always turn out to be much higher. It can be due to the replacement value as well as the resale value of the diamond ring. For sure, the resale value will always be lower in comparison to replacement value. It is one of the reasons why people would often opt just to replace, but sometimes selling it is the best option, depending on the circumstances.
Accuracy on the quality and authenticity of the diamond
Just because a diamond ring seems expensive and very valuable doesn’t mean it necessarily is. Opinions can be biased, so going to someone who is independent and can provide you with realistic insight into the value of the diamond ring. It can be from someone who is qualified and does not benefit from buying or selling the diamond ring. This option may entail having valuation costs, but not always necessary, if the ring’s value seems lower than previously assumed. Some ring vendors can also provide you with a rough valuation of the ring at no costs associated with it.
Setting realistic prices
There will always be huge disappointments if your expectations of the price are unrealistic. Looking at different sources within the diamond resale market of the same or similar type of ring could be a good starting point. Asking people who have previously done the same for their advice, and the process they used can also give you a valuable insight when negotiating prices during the sale.
Consider the best places for selling engagement diamond rings
It is also essential to know where the best places are that the ring can be sold at, if you decide to go to a physical retailer. Different locations will have various offers. Some of the places that are considered for selling diamond rings include pawnbrokers, reputable local jewelers, online specialist diamond buyers.
Be ready to sell the ring
Our engagement diamond rings will always be meaningful to most of us and having an emotional attachment to it could make you question your decision when it comes to the point of sale. It could make you doubt the reason for selling the ring. However, depending on your circumstances, having a clear perspective of what really is important to you at the time, does help with making that step.