How Can I Sell My Diamond Ring for the Most Money?
A guide to realising the greatest possible financial gain
14/06/2024
Perhaps you are considering selling a diamond ring associated with a past relationship, or possibly from an inheritance? If so, you will be wondering how to realise the greatest financial gain. Understanding how diamond rings are valued will give you a greater understanding of the process and afford you the knowledge required to make an informed decision.
A large diamond solitaire ring
The four Cs of a diamond are the features that will help determine the initial worth:
Clarity: the inclusions present within a diamond are graded from IF (Internally flawless) through VVS (Very Very Slightly included), VS (Very Slightly included), to SI (Slightly included) and I (Imperfect). The less included a stone happens to be, the greater the value.
Colour: the colour of a stone is graded from D (exceptional white) through to Z (tinted colour 4). This is a sliding scale in terms of value as some tinted coloured diamonds can be exceptional and therefore valuable.
Cut: this represents the actual cut, polish and finish of a diamond which will be relative to the age. An old-cut diamond might have a poor cut, but this does not necessarily translate in value.
Carat: this refers to the weight and size of a stone, which will be considered together with the features mentioned above.
The materials used such as gold or platinum, as well as the execution of the setting will also play a role in the appraisal of a piece.
An Art Deco style diamond cocktail ring
We would always recommend obtaining a current market valuation from an expert jewellery valuer with gemmological qualifications - the team at Dawsons would be happy to help - it is important to note that this type of valuation is very different to an insurance valuation. The latter refers to what it would cost to replace the ring with a similar counterpart at retail, whereas the other is an expected achievable price in the current market. It is worth noting that if you purchased the ring in recent years at retail, the realistic value could leave you feeling disappointed. Stores selling new rings will have a cost price as well as their mark up, and whilst diamonds tend to increase in value over time, it can take many years to accrue a value that surpasses that portion of the cost.
Once you have an accurate market valuation, there are many options available when looking to sell, but where can you expect to make the most money for your diamond ring?
Pawnbrokers are the quickest way to sell a diamond ring, obtaining cash immediately after agreeing to the sale. However, this is the only benefit to this avenue as the amount you will be offered will be significantly lower than the current value.
Most jewellers will purchase a second-hand diamond ring or offer a trade for instore credit towards another acquisition. A relatively quick transaction. However, always bear in mind that they are a retailer, and as such will be aiming to buy your diamond ring for the lowest amount possible, so as to make the most they can when selling at a later date.
A rare 11.03ct diamond three-stone Kutchinsky ring
There are numerous online centres (brokers) that offer to purchase your diamond rings. Unfortunately, there are many unscrupulous traders within this space, and we would always advise that you thoroughly research the organisation and read all the reviews before providing any information or accepting any offers.
You can sell a diamond ring yourself directly to a buyer via a platform such as eBay, Facebook, Etsy or Vinted. Keep in mind that you will be responsible for all the images, information, payments, packaging and posting, as well as the associated risk of potential scammers.
We might be considered somewhat biased towards the option of selling your ring at Auction, but with good reason… As a reputable Auction House, our sole aim is to secure the highest price we possibly can for our clients.
With extensive industry experience, our team of experts provide a seamless service covering valuation, logistics, marketing, and sale. Dawsons Fine Sales are broadcast live across multiple auction platforms to a global audience of over 10 million active bidders for maximum exposure. Whilst our innovative in-house marketing direct to buyers all over the world, allied with creative social media posts, ensures that we achieve the highest returns for our clients.
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Are you contemplating selling a diamond ring?
With a huge global audience of known buyers, Dawsons can secure the best price for you.
Get in touch with an expert jewellery valuer today for confidential sales advice, we would be delighted to help: