Tips for Selling Diamond Rings for Cash

Investment in the diamond rings is made with the intention to use it forever. Some diamond rings are even passed down generations as a family heirloom. 

But inevitable situations like financial problems or even trouble in paradise can lead us to search for “Where to sell my old diamond ring” on the internet. Even though buying the jewelry may seem like an easy task, but the other way around is a bit challenging.

Where Can I Sell My Diamond Ring For Cash?

So, here in this blog, we will provide you with easy tips so that you can sell the GIA certified loose diamonds conveniently for cash. 

1- Provide An Authentication Certificate:

When you go out to sell the Diamond jewelry, the authentication certificate is the first thing the buyer will ask. So, it is better that you establish a certificate from legal gemological labs such as the GIA. This way, the buyer of the gold jewelry will get proper knowledge about the stone. If you want, you can even get the diamond assessed and appraised before selling it. 

2- Approach A Jeweler:

Not just the distributors, even the jewelers purchase used jewelry from the owners. But, keep in mind Jewelry stores that buy rings are looking for a profitable business. And that means they will try to purchase the diamond from you below the dump-price. So, be sure to never fall for any value that is lower than 40% of the Rapaport value. Always negotiate the first price they tell you.

3- Sell On Your Own:

If you wish, then you can even sell your diamonds on your own. That means you will require sourcing the buyers. You can either put the advertisement for the rings on websites like eBay, craigslist, etc. You can even place ads in the local newspaper. Or else, there is always an option of talking with colleagues, friends, or families to see if anyone is interested.  

4- Place It On A Consignment Basis With A Local Jeweler:

If selling on your own seems daunting, then you can stay away from the hassle and let the local jeweler help you sell it on a consignment basis. Even though you may require paying service fees, but you can stay away from unnecessary headaches. Plus, consigning the jewelry is the Best place to sell rings as it can offer better profits.

Bottom line

We know it can be the hardest decision to part your ways with the diamond jewelry that you once relished. However, if selling is the only solution, then use our article as a guide for sell your diamond ring conveniently. 

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