Where is the Best Place to Sell Diamond Rings?

Owning a stunning piece of jewelry can bring immense joy to your life, but if it sits untouched in a box, you may start considering selling it. Whether you have an heirloom diamond ring that deserves to be worn or an engagement ring that no longer fits your lifestyle, you might wonder where to find the best place to sell your precious piece. At Sherman Diamonds, we want you to feel comfortable and confident when selling your diamond ring. Allow us to guide you in your search for the ideal destination to sell your jewelry.

How can I get the most money for my diamond?

Selling your diamond ring can be a big decision, both emotionally and financially. Luckily, there are reputable online jewelry buyers who can help you get the best price. The value of your diamond ring is influenced by its cut, color, carat, and clarity, with higher carat weight generally meaning a higher price. Additionally, excellent color and clarity can increase its value even more.

Our experts have compiled a comprehensive list of top places to sell your diamond rings, taking into account factors such as the buying process, offer price, ease of use, and customer service. Before you sell, make sure you have all the right certificates and documents. Then, choose the best buyer for you based on the information we provide.

How do I sell my old diamonds?

You have different options for selling your old diamonds. You can choose to sell them at an independent jewelry store, through an auction or pawnshops. The price you receive and the treatment you experience will largely depend on the type of buyer you engage with and your level of familiarity with them. Here are some of the top places to sell your old diamonds:

• An Independent Jewelry Store

An independent jewelry store is an ideal place to sell your unused jewelry. But, for a store to invest in a piece of jewelry, they need to legitimize it by checking the certification and the diamond. In addition, the relationship between the seller and the buyer in this area is essential. Creating a strong relationship with a specific diamond buyer means you can return to this seller several times. You might also get a higher price for your diamond ring since there is no “middleman” in this negotiation.

• An Auction House

An auction house like Christie’s or Sotheby will be able to get you top dollar for your jewelry but at a price. When the auction house sells your diamond ring, the selling process is often lengthy and tedious. When your diamond ring or necklace actually sells, the auction house will take a certain percentage of your profit, traditionally about 20% of the selling price. It does take a lot of the responsibility off of you as a seller, and auction houses often have built-in marketing plans to draw a wider audience, but only you can decide if that access is worth the cost.

• Pawnshop

Local pawnshops offer certain advantages, such as immediate cash and the opportunity to negotiate the price directly with someone. However, for the convenience and speed they provide, you may have to sacrifice some profit. Traditionally, pawn shops undervalue rings and often offer significantly lower prices to expedite transactions.

• Direct-To-Consumer

You can sell directly to consumers through platforms like Facebook Marketplace, eBay, or Craigslist. This option offers optimal profitability in a traditional selling scenario, but you must assess whether the potential profit outweighs the risks involved.

Are diamonds hard to sell?

Diamonds are generally easy to sell due to their consistent demand. Engagements happen daily, and diamonds are popular gifts for occasions such as Valentine’s Day, Christmas, graduations, and anniversaries. You can readily find buyers for diamonds, but to ensure you obtain the best possible price, follow our expert tips.

Do diamonds increase in value over time?