Deciding to sell an engagement ring during or after a divorce has a number of financial and emotional benefits. But what is the best way to sell an engagement ring? How quickly will you get paid? Who will give you the best price?
Who to sell to
When looking to sell your wedding ring, you have a multitude of options including jewelers, auction houses, pawnbrokers, and online diamond buyers. The reality is that large auction houses such as Sotheby’s and Christies only cater for exceptional diamonds (typically extremely large stones or rare fancy colored diamonds.
Meanwhile selling on platforms such as EBay and Craigslist can be a lengthy process with no guarantee of a sale. Pawnbrokers will get you cash the quickest, but aren’t diamond specialists and often pay a pittance for wedding sets. And jewelry stores have limited buying power.
Online diamond buyers, however, offer a quick service and are typically able to offer stronger prices. There are multiple reasons for this:
- They are diamond experts who are able to establish the exact value of your engagement ring.
- Online buyers have lower overheads which translates into higher offers for your ring.
- Large, established companies have access to the international diamond market.
The importance of research
Finding a reputable diamond buyer takes some research. You will want to work with a company that fulfills the following criteria:
- BBB accredited
- Has a credible number of reviews online
- Provides a free and transparent service
- GIA (Gemological Institute of America) trained diamond experts
The process to sell an engagement ring
WP Diamonds is an online diamond buyer that offers a quick and pain-free service, making it simple for you to get cash for your engagement ring.
The 5-step process outlined below can take as little as 48 hours:
- Fill out the online form with the details on your engagement ring.
- You will be contacted by a representative with an initial price range.
- Schedule an appointment or send in your items overnight for a final offer (free shipping and insurance provided).
- A representative will be in touch with a final price.
- Money will be wired into your account usually within 24 hours or your items returned insured and free of charge.
However you choose to sell your engagement ring, you should feel comfortable every step of the way. Consider all of your options, do your research and make sure to sell your engagement ring safely, for the best possible price.
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