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How to Sell a Diamond Ring

June 26, 2012 | Comments: 0 | Views: 162

They say that diamonds are forever. Indeed they are, and unfortunately sometimes they outlast our love. When it happens, we decide to sell a diamond ring and move on. What do you need to know to successfully sell you diamond and get the most money for it? Where should you look and what documents should you have?

When you want to sell your diamond ring, you are probably thinking of several options: a cash-for-gold store nearby, your local jeweler, an online auction like eBay or one of online jewelry buyers. So we will try to weigh the pros and cons of those. We will also mention the certificates and paperwork you need to make the most money for your piece. A diamond ring is a very expensive item, and the sums of money you could get for it from various sources might differ by a huge amount! You need to be careful.

In addition, we should bear in mind that women tend to form a strong emotional bond with their diamond rings - an engagement ring is a romantic new beginning of a lifetime union. And it is hard to believe that our new engagement ring was a symbol of somebody else's previous relationship that did not succeed. We all want a new, not a pre-owned engagement ring, thus it will be hard to resell yours at exactly the same value as a new one. When you bring your ring to a local jeweler, it will be difficult for him or her to resell the ring in a smaller community.

Both your local cash-for-gold store and a jeweler have a relatively small market. They are trying to make a living and pay their staff, based on a fairly small turnover. With fewer customers willing to buy their items, the way to survive is to increase the profit margin. This means you receive less. You can certainly visit them and ask for their offer, but try to avoid an immediate commitment and do a little more research.

eBay is a very popular platform to sell rings for their qualities. The problem for you is that eBay is not just popular with customers, but also with experienced jewelry stores, who are experts in selling such items. Their high seller ratings, glittering descriptions and free shipping will make it hard for you as an individual to compete for buyers' attention and also to beat their prices. Although it might be difficult, but if you have more time you could still try.

There are also ways to sell your ring on consignment - there are plenty of advertisements online and in local newspapers for jewelers who want to do it for you. But you should remember to be extremely careful. There is not only the risk of getting a lot less money than you expected, but also being plainly cheated. Do not send your diamond to them until you make sure they have a trading license with the Bureau of Consumer Affairs, a great reputation and at least several years on the market. Check if your buyer is a member of Jewelers' Vigilance Committee - this will increase the chance of an honest and transparent deal.

One very important thing for you to have is a diamond certificate. A GIA (Gemological Institute of America) document tremendously affects the sale value of your diamond. In fact, very few reputable jewelers will be willing to pay a good price for a diamond without a document. If you do not have one, I suggest you request it. Sending your diamond for certification to GIA is safe, trustworthy and not too expensive - they generally charge less than $150 per karat. You can find out more about diamond reports and services on their website One other agency you can address to is EGL USA (European Gemological Laboratory offices in the US).

If you do have a certificate for your diamond, just scan and send it along with the picture of the ring to for a fast and free price estimate. This way you will get an advice and an idea of your diamond's market price without actually sending the stone. This is a safe and reliable way to evaluate your diamond! And it will only take you a minute.

For more information on diamonds and gold check my blog at

Check out more information about our diamond services on our website:

Source: EzineArticles
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