Selling Back Your Engagement Ring
What you need to know to get the most for your wedding ring
Many times engagement / wedding rings are people’s most expensive jewelry purchase. Liquidating them takes special care to maximize the return of investment. Selling diamond wedding jewelry to a cash-for-gold company without a specialist gemologist will not yield the best price.
A cautionary tale: I had a client take an engagement ring to a jewelry buying events at a local hotel. They offered a fair price for the gold, around $200. But the ring had a $2,000 diamond in it! We paid her $2,200 for the ring.
Not all places try to get the diamond for free like that. But, many don’t have the experience or training to pay reasonable cash value for diamonds.
As with most things, the value of wedding rings comes from several factors:
- First, there is the metal the ring is made out of. Gold and platinum are the two most common metals in wedding rings (learn more about gold purity and the difference between white gold and platinum).
- The second factor that brings value to engagement rings is the diamond. The main diamond in some engagement rings contains over 95% of the value. The value of the diamond is based on many factors (learn about the basic factors of diamond value).
- Next, there is the condition of the wedding rings. If the ring is very worn, it is usually only worth the intrinsic value of the metal and gems.
- Style is very important when reselling a ring. If the design is still in vogue, then the ring can have increased value as a stylish piece of jewelry. If the jewelry is out of style, then most of the value is in the metal and gems.
- A premium designer or branded ring can be worth much more than a “no name” ring.
Arden Jewelers has many years of experience with divorce sales of wedding jewelry. If you need paper work to prove the price paid for the jewelry, we can supply that for you. Also, if you need an appraisal to show the value of the jewelry for liquidation, we can do that type of appraisal as well. We’re here to help you get the most you possibly can for your engagement ring and wedding jewelry.