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Shop 8 Raby Bay Harbour 152 Shore Street West Cleveland 4163

ABN: 16 884 875 007


Adrian Lee

Sell Engagement Rings in Brisbane

Having trouble finding a reliable place to sell your diamond engagement ring for a fair price in Brisbane?


If you are looking for a safe and convenient way to sell your diamond engagement ring for the best return in the industry, Diamond Brokers Queensland are an experienced licenced Brisbane dealer who can offer to sell your ring through our online and Brisbane jewellery store.


There are only a few avenues to re-selling a diamond engagement ring; privately, to a pawn dealer or back to a reputable jeweller.  Selling can be difficult and depending on the quality and value of the ring each option has its benefits and disadvantages.


To sell your engagement ring it is very important to understand what you have and its value before looking to see what it is worth in the second-hand market.  There are only a few authorised second hand jewellery specialists and each will likely have a different opinion on the value of your ring and if it is suitable for their target market.


We specialise in medium to very high quality jewellery with a focus on premium certified diamonds and assess every piece that comes into our office to decide as much for the clients benefit as our own to our ability to sell your second-hand diamond engagement ring.  Our platform is designed for selling second-hand jewellery that has a retail value above $5000.00 but will still consider bulk listings of lower value jewellery that is of high quality and new condition.


By offering our store and online platform to private sellers wishing to sell their unwanted diamond engagement ring we can return you a fair and reasonable resale price without any complications through our easy and efficient process.

What is the Value of a Second-hand Ring?

When looking to sell your second-hand engagement ring there are a few aspects to understand about the value of your ring.  An engagement ring is made up of two components the metal (gold or platinum) and the crystal (diamond or gemstone) of which both will hold value on resale. Once second-hand, a ring is only worth what someone is willing to pay for each of these components and the better the quality, condition and attractiveness of the design the better chance that it will sell for close to new replacement price.


Gold and platinum are precious metals that will always have a market value if sold for scrap.  However, as new, a ring mount is worth the cost of the metal as well as the cost of manufacturing.   The scrap value of a ring is minimal but depending on the condition, complexity, type of manufacture and the attractiveness of the design a ring can achieve anywhere up to the value of new replacement.


The gems within a ring will also hold a set market value based off the wholesale replacement as long as there is no damage in any way. Diamonds are the easiest gem to resell as they rarely damage and are the most popular gem used in engagement rings whereas coloured gemstones are much softer and unless relatively new can sustain chips and scratches.


Once a diamond or gem has sustained damage then the value rapidly diminishes with the condition and is usually considered worthless for resale unless the gem is large enough to be re-cut.


The majority of the gem value will always be held is the main stone with most smaller diamond and gems having only minor resale interest.  Diamonds above 0.50ct no matter the quality will retain high market value and is what any buyer is looking at when determining the value of a ring. 



To sell a second hand engagement ring requires finding a buyer who requires a ring with the right size and quality diamond and within their budget and a design that is similar to their taste and expectations.  Not an easy task and this is the same even for jewellery stores, which is why we suggest even for the most popular selling rings it will take an average of 6 months to sell. 


When the value of the main diamond makes up the majority of the ring value then achieving a return is much easier and relies less on the need to sell the whole ring.   When the ring value is split amongst the various components then the ring has to be sold on the merits of the whole design to achieve a reasonable return, which can be a much slower process. Diamond Brokers Queensland have the experience and understanding of the second hand diamond ring market to get your ring sold in the most efficient manner at the best possible price.


Why is my engagement ring not worth what I paid?


Unfortunately selling a diamond engagement ring in the pre-owned market is not worth the same as selling it in a retail store.  Retail stores are a business, they have a customer base and a reputation for a particular range or quality of jewellery, that people hold with an awareness and element of trust.  Retail stores also have very large advertising and operational overheads, and are selling a new product of which they can ask up to the full recommended retail price.  


The RRP is the price that a jewellery retailer is allowed to mark up a diamond engagement ring from the wholesale price. This helps regulate the industry and protects customers from being over charged.  However, this is the maximum amount that they can sell the item for and in a lot of circumstance these stores will have sales of up to 50% off their marked price.


Regardless of how much you may have paid for your ring the real value of the ring is what it has cost the jewellery manufacturer to produce and sell to the jewellery store.  At best a second hand ring can be sold at the lowest price that it could be purchased new directly from a retail store but as condition, quality and style decrease so will the price.  


As a diamond merchant business we have the ability and reputation to be able to ask and receive a better price for your diamond than what you would get trying to sell it privately.  How much we can ask is dependant on the demand for the type of ring that you own and how much it is worth to the person wanting to purchase the item.  As experienced second hand dealers we can quite easily work out with you what we believe your ring is worth and set a highest and lowest price for the sale of your ring before you have to bring or send your ring to our store. If our offer is acceptable then we will list the jewellery at the highest starting price, which will also include our commission and the GST components.


Sell your Pre-owned diamond ring on consignment

For sellers who do not need an immediate sale and are looking for the best possible return, selling your ring with an agent on consignment is our best recommendation.


Diamond Brokers Queensland, provides consignment sales on high quality rings directly in store and online for people to sell their unwanted engagement ring. We believe our consignment process can give your ring the best opportunity in the industry to sell your ring at the best possible price without any effort.


Diamond Brokers Queensland hold all diamond rings for sale in a secure locked premises and take full responsibility for their safety when in our possession.

Diamond Brokers Queensland do not hold any exclusive rights over the sale of your diamond engagement ring and it can be delisted at a moments’ request.  When we sell your ring we take a commission of $500 or 15% whichever is greater from the total sales price on consignment sales pre-GST.

Selling your Second Hand Diamond Ring for Cash

For sellers who require an immediate cash sale for their second hand engagement ring we will consider all rings.  Our store preference is for premium GIA certified diamonds above 0.75ct when it is suitable to purchase with our current holding stock.  As a guide, depending on the popularity of the diamond in your engagement ring we aim to purchase rings of interest for around 75% of the current wholesale market replacement value of the diamond.


Selling to a pawn shop for cash – the great advantage is that they will buy almost anything but will only pay the lowest market price which is the amount that they can sell you ring for the scrap component value and still make a profit.  This is often your only sale option for rings that are of low to medium value, without a significant quality diamond, unrepairable damage, or just completely out of fashion.  The cash offer price will be low but often fair as the demand for your ring from jewellers can be limited and gets you the fast sale required.

Selling diamonds privately at Auctions like eBay or Gumtree

There are several small and large online auction sites where you can list your ring privately to sell at your own discretions.  Unfortunately we have found that for quality jewellery this is a fairly flawed style of selling.  Trust between buyer and seller is low, there are a high number of scammers and scavengers and to achieve a fair sale price can often take several years.  One of the greatest distractions when trying to sell your quality jewellery on privately listed online auctions is the high volume of rubbish jewellery where the quality is too low to sell in any other format


Listing your ring privately online will rarely bring a high return as many buyers looking to purchase from theses sties are wary about the authenticity of what they are buying or are looking to take advantage of sellers not knowing what their ring is worth or their desperation to sell.

Alternatives to selling your second hand diamond ring

Unfortunately some second hand diamond rings 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 them 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.


Search Wholesale Diamond Prices Online

Once you have decided on the type of diamond you would like to buy, our wholesale diamond search tool is a great place to start looking for quality loose diamonds in your budget.

The online diamond search inventory is an international list of available loose certified diamonds that will give you a great guide to the wholesale price of different quality diamonds to help make your selection.

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