Selling secondhand diamond rings
Unfortunately selling a secondhand ring can be much more difficult than selling the diamond on its own but is often necessary to maximize the return on your investment. Large diamonds often make up 80% of the value of a ring and make selling the jewellery component less important but when when the diamond are smaller than 0.75ct or of a similar value to the rest of the rings then selling it a complete piece is often necessary. The market for people interested in buying second hand diamond rings is quite small but If you can sell your ring as the complete piece then you will get the maximum value for your jewellery. Selling second hand diamond rings is always difficult as you have to appeal to another person’s tastes and although unique pieces are beautiful they can be extremely difficult to sell. You do have to be realistic about the sale price which depend on the salability and condition of the ring is usually between 30-50% of the new retail value.
Prepare your ring for sale
The more details that you can provide about your ring the better as selling a ring privately requires either a lot of trust or knowledge from the buyers perspective. Firstly have your ring looked at by an expert and ask their opinion about selling the piece. Prepare your ring for sale by having it cleaned and polished and if it does not have a valuation send it out to have one done. Having certification for your diamond is a great help when reselling a diamond as it provides greater security for the buyer. Unless your ring design is very simple, new and the diamonds are certified selling your ring can often take considerable time and effort so be prepared to wait and try selling it on as many platforms as possible.
Alternatives to selling your second hand diamond ring
Unfortunately some second hand diamond ring due to their age, quality, design or cost of purchase are almost impossible to sell at an acceptable price. If your ring falls into one of the unsalable categories there are some further options.
Recycle your jewellery take the pieces and use then in a new piece that you can wear as a new ring, pendant or earrings.
Trade them in, often a retail store will not be interested in paying much money for your ring but if you are purchasing a new ring they are often much more accepting to take your ring as part of the payment.