Knowledge of their value – It is gold of utmost importance that you understand the value of the diamond rings when you want to sell diamond rings. It doesn’t matter if you're upgrading, selling a piece for whatever reasons, or just looking for ways to make some extra cash, fully understanding what your ring is worth can ensure you make the best decision for you with confidence. Wondering how to sell a diamond ring for the best price in 2020?

Value Drivers in the Key (Strategic) Category 

Before you sell a diamond ring, it's important to learn more about what makes it valuable. The offer that you receive will be based on a combination of qualities, in order of importance:

The Four Cs: Cut, Clarity, Color and Carat

The following are the usual gemological grading standards :

Cut is the quality of the shape and proportions of the diamond. A diamond that’s been artfully cut sparkles more and therefore demands a higher price.

Clarity checks for internal imperfections (inclusions) as well as surface irregularities (flaws). And the less flawed, the higher the price.

They are graded on a system based on the amount of colour they have, from D (colourless) to Z (light yellow). Colourless diamonds are more rare and thus more valuable.

Carat is a measure of weight referring to the size of the diamond. Bigger stones are more expensive, of course, but quality is also a huge factor.

Diamond Certification

A diamond certified by a reliable laboratory (such as GIA or IGI) has an honest grade of its quality. This is a nice card to have when presenting diamond rings for sale on the Internet, for it helps the buyer trust.

Ring Setting and Metal Type

Though the diamond itself is the most valuable part of the ring, the setting can also increase the resale price, particularly if it’s gold or platinum. Branded or vintage rings may lowball those offers.

Selling Diamond Rings: The Right Way To Do It

Get a Professional Appraisal

Before you begin to shop your ring around to potential buyers, consider having it appraised by an independent jeweller or a gemologist certified by one of the following organizations: the American Gem Society, the Gemological Institute of America or the International Gemological Institute. An appraisal will help you know approximately what the ring is worth in the market.

Compare Offers

Do not take the first offer offered to you! Compare prices, particularly if you are selling diamond rings for cash. In online as well as brick and mortar settings, there are buyers who specialize in quoting low figures on stones.

Best Place to Sell Your Diamond Ring?

The best place to sell diamond rings is wherever serves your needs best—whether you value convenience, price, or speed. Here are your main options:

Nearby Jewellers and Gold Buyers

They provide fast cash, but the rate is likely to be lower than other sources. It’s still a fine place to start, though, and to compare offers.

Online Diamond Buyers

It can be convenient — and competitive — to sell diamond rings online. Search for outlets that provide free shipping, insurance and quotes with no obligation. Reliable online vendors are also likely to be cheaper since they have less overheads.

Marketplaces and Auction Sites

Sites like eBay or other resale markets enable you to reach a wide audience. You will need great photos, thorough descriptions and patients though. Also, beware of scams and low bids.

Consignment Services

Some jewellers or online vendors can sell the ring on your behalf and earn a commission. This option will usually net a better price, but it could take longer to close a sale.

How to Sell Diamond Rings for Cash Smartly?

However, if you are only interested in how to sell diamond rings for cash, we have some tips that can help you maximize your cash offer:

Have a Minimum in Mind: Establish a realistic floor price and do not hesitate to negotiate.

Prep It: If you’re selling it online, clean the ring and take clear pictures.

Present Documentation: Certificates, receipts, and appraisals are a great way to gain buyer confidence and explain your asking price.

Verify Buyer’s Identity and History: Always be careful to check the credentials of buyers or vendors if you are selling diamond ring online.

Final Thoughts

There’s a lot involved in Selling Diamond Rings, and it can seem quite overwhelming at first, but with a little know-how and preparation, you can make the process as easy and profitable as possible. There are several important steps you need to consider: knowing what your ring is worth, receiving multiple offers, and selecting the proper platform to sell.

Whether you need to know the best place to sell diamond rings, are looking to sell diamond rings for cash, or are looking at selling diamond rings online, making sure that you approach this valid means of fund-raising in a very considered manner will mean that you get the return your jewellery deserves.