After the end of a marriage, the engagement ring can be a painful item to hold on to. On the contrary, it can also be challenging to get rid of. The sentimental value leads many divorced individuals to leave expensive diamonds lying around collecting dust for years. We have created this guide to help you along the difficult process of selling an old engagement ring.
The main piece of advice we can give you is to wait until you are emotionally ready to part with the ring. If you sell too early, it can lead to regrets down the line. Give yourself some time to recover post-divorce to ensure you are ready to say goodbye to this symbolic piece of jewelry.
It is also important to wait for the right season when the market is trending up. Diamonds tend to be in high demand around sentimental holidays such as Christmas or Valentineâ€™s Day. You may be able to get more for your diamond ring when the customer demand is higher than usual. Pay attention to market trends and donâ€™t sell during a significant dip in the diamond market.
Before selling your engagement ring, you need to educate yourself on its worth not to get less than you deserve. If your diamond is only a couple of years old, it should still be worth almost what it was purchased for. Older diamonds will depreciate in value each year. You should get your diamond graded by a reliable professional to ensure you get a fair price when selling.
If you are looking to sell the ring yourself, online selling platforms such as eBay or craigslist are good options. This can be a problematic channel because of the lack of trust on these platforms. Pawnshops are an excellent option if you are trying to sell quickly. However, pawnshops often offer far lower than what you could get elsewhere. The safest option that will get you a guaranteed fair price is a traditional diamond buyer.
Gembyr is a reputable diamond buyer serving New Hampshire and Massachusetts. Our highly qualified gemologist will grade your diamond, offer a competitive price, and provide you with payment on the spot. If you are ready to sell your diamond ring, contact Gembyr at (603) 828-1144 to have your diamond appraised.