Everything You Need to Know About Selling a Diamond Ring
Diamonds are forever – except for when they’re not. Whether you’re choosing to sell because of a divorce, because times are hard and you could do with some extra funds, or because you want something different, there are a number of ways you can go about selling a diamond ring. At Samuelson’s, we are here to help you understand your choices.
When is the right time to sell your diamond ring?
Whenever you’re ready! However, there is one caveat – diamond rings lose value as soon as they are purchased. Instead, reputable jewelers will focus on the four C’s to identify a fair value for your diamond ring:
- Cut
How much does that diamond sparkle? A diamond’s proportions determines how light reflects through the diamond. While cut has no bearing on pricing, it does have a bearing on how quickly it will sell due to current trends.
- Color
How much color is visible within the diamond? While there is no such thing as a natural colorless diamond, the closer the diamond is to colorless, the more it can command per-carat, which will dictate how much you can command in turn.
- Clarity
It’s incredibly rare to find a natural diamond without inclusions or blemishes. Like color, the focus will be on how minimal the inclusions and blemishes are to dictate where it falls on the clarity scale.
- Carat
For comparison, a single diamond carat weighs no more than a small paper clip. That’s why fractions of a carat can mean a difference of hundreds or thousands of dollars in what the diamond costs. However, a lower carat weight can still be valued at a higher price depending on the cut, color, and clarity than one with a higher carat weight with poorer cut, color, and clarity.
Sentimentality
More often than not, a diamond ring holds some meaning. It may evoke memories of happier days gone by. It may also be a family heirloom for a family with no remaining living members. Make sure that you are in the right head space to say goodbye to a meaningful possession. And more importantly, look for a buyer that will treat you with integrity and respect throughout the sales process if the ring does have sentimental value to you.
Sustainability
Sustainability is a key element of buying and selling estate jewelry. It’s about reusing materials and being thoughtful when we cannot to reduce our impact on the environment. When we evaluate a diamond ring, we look at two main elements: the setting and the diamond, as we can repurpose both for new pieces. If this is the best option for your diamond ring, it’s also a win for the environment – because it means we can keep materials from being added to growing solid waste streams.
Preparing to sell your diamond ring
If you have the ring’s history and documentation, that already puts you miles ahead when it comes to selling the diamond ring. Things that are considered documentation include the original receipt, packaging, prior appraisals, or a certification by a diamond lab. One, some, or all of these will help ensure you receive the best value for your diamond ring when you go to sell.
Where to sell your diamond ring
In today’s world, there are numerous options out there – pawn shops, online marketplaces, private buyers, and more. However, few can give you both a quote and cash in hand the same day. At Samuelson’s, we work with you to make sure you are treated with comfort, respect, and privacy. Plus, it takes the burden off you to find a credible buyer and complete all steps of the transaction – because we’ll do it all for you.
What should I do now?
Make an appointment to get your diamond ring assessed! Our experts are trained and can make knowledgeable recommendations as well as provide the fairest and best offer possible. We’ll answer all your questions and if you like our offer, you’ll get paid right there and then. We’d be delighted to help you sell your diamond ring, whatever your reasons may be.
