The Basics of Selling a Diamond Ring

The Basics of Selling a Diamond Ring

If you are looking to make extra money, clear out your jewelry collection, or move on from a past relationship, selling your diamonds is a good step to take. Rings, like any other piece of fashion jewelry, go through different periods. There are times when the most fashionable cuts and styles of ring quickly go out of fashion; if you’re looking to upgrade your ring collection and start by selling your old rings, it might be something to consider. You might wonder if your old style ring will still be marketable. Even if the ring is out of fashion, the materials from which it is made are still valuable. Diamonds are valuable no matter their cut. However, they will be judged by their cut as well as other factors. So, the first step in selling a ring is knowing how it will be appraised.

The Four C’s

Where can I sell my diamond ring, you might wonder. Well, you can sell your diamond ring online, to a pawn shop, to a buyer, or to a private buyer. Your best option is to sell it to a private buyer. They may take a little more time and do their due diligence to appraise the ring, but that way, you’ll know you’re getting the right value for your ring. Diamonds are judged on what are called the four C’s. These are cut, color, clarity, and carats. The cut of a diamond is the shape into which it was cut by the original jeweler. There are popular cuts and there are proprietary cuts. Some jewelers have actually trademarked their individual cuts, which can make them much more valuable.

The color of a diamond involves the actual color of the stone itself. Most diamonds are completely clear but some of them have tints of other colors. In fact, some of them even come in solid colors such as brown or yellow. These are popular diamonds, but will need to be assessed. Similarly, the clarity of a diamond tells whether there are any imperfections in the stone. Every diamond will have a few imperfections, but a quality diamond won’t have so many as to be cloudy.

And lastly, the carats of a diamond are a judgement of the weight of the stone.

Market Value

The market value of a diamond is important as well. The market value involves an assessment of the cut, color, clarity, and carats. It is also related to the price of diamonds at the time. Diamonds are a commodity that tends to fluctuate on the market. So, you might try to sell a ring one month and get a certain price for the diamonds, and the next month, you could get a totally different price for them. If you’re not in a hurry to sell your ring, you should analyze the changes in the market over the past year or two. Does it look like the price you are being offered now will grow if you wait? If so, you could make a strategic decision to hold off on selling your ring for a few months.