We Buy Diamond Rings
Mike Fried has written hundreds of articles and helped answer more than 30,000 emails from our readers. This has given him a unique perspective on what information truly helps our readers in their quest for finding the perfect diamond engagement ring or piece of jewelry.
we buy diamond rings
For the store to actually make an investment in a diamond, and not just borrow one, it will have to justify it by buying at a very cheap price. Furthermore, relationships between suppliers and buyers in this business are extremely important.
For a jewelry store to use its capital to buy a diamond from you instead of using it as an opportunity to deepen a relationship with a supplier means that they need to justify that decision through buying your diamond on the cheap.
In my opinion, in a best case scenario, after diamond prices have appreciated by 10%, you could maybe find someone to buy your diamond for 90, leaving you with a loss of 28% (125-90=35 total loss 35/125 = 28% loss).
If you try and sell your diamond immediately after purchasing it, then your best case would be selling your diamond for 80 or a loss of 36%. Again, this is in an absolute best-case scenario buying bricks & mortar.
Take these diamonds for example. Here is a beautiful diamond from James Allen for $5,500 and a fantastic alternative from Blue Nile for $5,581. Both of these diamonds are phenomenal choices that would have cost you about $6,500 in a local store.
Buying online obviously makes selling a diamond much easier. Your cost basis is lower (so it will be easier to recoup your money if you need to sell on the open market) and the retailers give you options for returning and upgrading (so you retain full value for the ring).
We recently did a secret test that of the major online options for selling your diamond. We purchased a diamond ring from Tiffany & Co for other purposes (making videos and keeping our reviews current) and used this as an opportunity to see what the other side of the business is like. Here are the results.
The ring we used was a 0.53ct round diamond in a classic Tiffany solitaire setting. We originally purchased it for $4,500. Obviously, we expected to lose a lot of money on the transaction. The question was, how much?Please note that we used a Tiffany ring for this test. Tiffany diamond rings are insanely expensive and very poor bang for your buck. That is the reason there was such a large gap between the amount we paid and the amount we were able to sell it for.
As this article hammers home, many people are in for a rude awakening when they try to sell their diamond. As this test showed, the offers we received were 78%, 73% and 59% BELOW what we paid for.
Please keep in mind that this test was done with a Tiffany & Co ring. Tiffany has an incredibly high markup for their rings. A ring like that in white gold from Blue Nile would cost about $1,350. A diamond ring like that would get you a better return. For example, Abe Mor said they would buy that one for about $800. That would mean a net loss of only 39%.
Selling on eBay or Craigslist is possible, and it may net you slightly more than selling elsewhere. However, pre-owned diamond rings rarely sell quickly (especially at near-retail prices), meaning you may need to wait for a long time before your ring finds a buyer.
When you were first given your diamond ring, you probably had no intention of ever selling it. However, there are occasions when this changes: a divorce, a broken off engagement, or a death in the family. Or perhaps you are looking to upgrade your engagement ring.
Estimating the cost of a diamond can be quite challenging. There are many factors that go into valuing a diamond ring, but some are far more influential than others. Here are the main factors that influence the price someone is willing to pay when you go to sell a piece of diamond jewelry.
When it comes to selling a diamond ring, the condition of the setting can make a small difference. Buyers pay more for rings that are in good to excellent condition. But, the main driver of the value of a piece of jewelry is the diamond or gemstone. So, most buyers are happy to overlook worn or scratched settings as the diamond is the main attraction.
With our auction platform, multiple professional jewelry buyers are competing for your diamond ring at once. This makes it easier to sell it for a much higher price. We work with a network of esteemed jewelry buyers from around the world to make your diamond auction as competitive as possible. This means your ring will be visible to numerous educated buyers who will recognize the fair market value of your jewelry - and be willing to pay it.
Worthy helps you sell your diamond ring on a fast, fair, convenient platform. Diamond cleaning, official diamond grading, professional photography, and expert marketing and customer service are an essential part of every sale and all included for free.
All diamonds bought and sold through Worthy are graded at a leading gemological laboratory such as the GIA. We only trust the best diamond grading labs in the world to grade valuables prior to auction.
Diamonds sold with GIA grading reports are considered more valuable and can command higher prices. So not only will you get a fair evaluation of what your diamond ring is worth, but this report can even raise the final price of your sale.
Diamond engagement rings are by far the most popular item that people sell with Worthy. After all, they are of ten the most expensive single piece of jewelry that a person owns. But, almost 50% of marriages in the United States will end in divorce or separation.
Our staff consists of highly trained GIA specialists who have extensive knowledge in gemology and jewelry appraisal techniques. GIA trained appraisers have a thorough understanding of how jewelry is made as well as how to identify and grade diamonds. Our staff will carefully evaluate your engagement ring and provide you with a true fair market value offer.
There are two ways to sell your engagement ring with Diamond Buyers:1. Sell your Engagement Ring in Houston Although we buy engagement rings and diamonds nationwide, our headquarters are in Houston, Texas. If you are local to the Houston area, we welcome you to stop by our Galleria-area showroom and jewelry store for a free diamond estimate. Our trained GIA gemologists are ready to provide you with a true valuation of your engagement ring and make a cash offer. We also accept appointments.
Since 1978, Diamond Buyers has been committed to paying top quality prices for diamonds, fine jewelry, and watches. We understand the importance of earning and maintaining your trust and pride ourselves on transparency.
Most people who own a significant piece of jewelry will have received an appraisal certificate with the purchase. And when it comes to selling a diamond, people often understandably base their expectations on the appraisal price.
Jewelry retailing is extremely competitive and most jewelers operate on very thin profit margins. Online jeweler Ritani has recently started adding information about the amount of money they make on each and every diamond on their website:
But when it comes to selling the rings, the ring with the solitaire setting and the larger diamond will be worth considerably more as it is the diamond, rather than the setting that is valued by jewelry buyers.
These certainly makes it more special to the wearer, but unfortunately when most jewelry purchasers place a value on a ring, they disregard the production value and base the their offer on the center diamond as they will usually remove the diamonds from the setting and melt it down to reuse in other jewelry.
The GIA has graded this diamond much more strictly and it is likely that this is a more accurate grade. As a result of this strictness, the diamond trade trusts that certificates from GIA are accurate and trustworthy.
If your diamond has a certificate from a lab other than GIA or AGS, or if your diamond only has an appraisal and no grading report, the diamond seller may offer you less than a diamond that has been graded by one of those two organisations, as there is a chance that it has been overgraded and is actually lower in quality than the report indicates.
And many of these diamonds have low quality certificates which means they are listed at extremely low prices. A brand new 1.5 ctw emerald cut ring with D color and VS2 clarity is listed at under $3,000:
For the right piece of jewelry, worthy.com is a great option. They have a great looking website and it can connect someone who wants to sell a diamond with far more potential buyers than they would be able to reach normally.
So, while the stats of your center diamond and the amount of gold in your setting are important, supplying some clear and high quality images of your engagement ring can go a long way to putting them in a positive frame of ind to make a good offer on your ring.
Looking to sell diamond rings? As a leading online diamond buyer, we provide a fast and safe way to sell diamond jewelry. Our entire selling process can take as little as 24 hours. With an A+ BBB rating and hundreds of customer reviews, we ensure a professional and pain-free way to sell. We offer the option of selling online or via appointment.
If you are wondering how to sell diamond rings, you may first consider traditional diamond selling options like pawnbrokers or local jewelers. The reality is that many pawnbrokers, local jewelers, and some online buyers often do not have the necessary experience or market knowledge to make strong offers.
Diamonds are complex items to value and require expert gemological knowledge. These precious stones have 20 principal aspects that govern their value. The main factors that will affect how much your diamond ring is worth includes:
WP Diamonds also buys non-certified diamonds rings. We are one of the very few companies to buy all diamonds of any color, clarity and condition. Our minimum carat weight is 0.50ct for round diamonds and 0.75ct for fancy shape diamonds. We do not buy black diamonds, brown diamonds, synthetic diamonds or rough diamonds. 041b061a72