Sell Your Diamond Ring

Last updated: December 03, 2021
Sell Diamond Ring
When you were first given your diamond ring, you probably had no intention of ever taking it off. However, there are occasions when this changes. Maybe you’ve gone through a divorce, broken off an engagement, or are facing a more positive experience, such as upgrading your ring or passing it on to a family member. If it’s not staying in the family, you may want to learn more about how to sell a diamond ring.

Many women decide to sell their diamond rings for both emotional and financial reasons. Getting rid of the most tangible symbol of an ended relationship can do wonders when it’s time to move on. What's more, the cash return for a diamond ring can ease the financial predicaments that often accompany the reality of dealing with expenses on your own. Whether you’d like to sell a reminder of a past relationship or liquefy your diamond ring and use the cash for an upgrade, Worthy can help.

Where to Sell a Diamond Ring for The Most Money?

You have more than a few options when it comes time to sell a diamond ring that you no longer want. Of the following choices, Worthy is safest – and smartest.
  • Consignment shops – Many consignment shops sell jewelry; however, the process can be lengthy and expensive. While some sales do happen quickly, most take weeks or months since the right customer must come into the shop and decide to purchase your ring. On top of that, consignors charge an average of 20-50% of the final sales price, and you only keep what’s left after they take their cut.
  • Jewelry stores – Some jewelers will purchase second-hand diamond rings if they are trending and in excellent condition. Some can offer fair market value, but unfortunately, most cannot offer much more than wholesale, as this doesn’t make sense for their business model. Costs associated with running a brick-and-mortar jewelry store are high, and it’s usually easier for jewelers to buy diamond rings wholesale. If you’re considering this alternative, try to get a few offers so that you can get the best possible price for your ring.
  • Pawnshops – If you have a serious financial emergency and you need cash immediately, a pawnshop might be the best option available. These shops are typically well-regulated and they can provide payment in short order. The bad news is that you are likely to receive a price that’s far below fair market value since the pawnshop must cover costs and turn a profit. Most are safe, and if you have time to check a few different locations, you may be able to get a little more than you would by selling it to the first shop you visit.
  • eBay – Unfortunately, scammers have ruined eBay for many buyers, and the likelihood of making a good sale is slim. Only about 5% of diamond jewelry offered on eBay sells, and the market is very much in the buyer’s favor as there is a lot of competition these days. If you are already a respected eBay seller with a solid reputation, you have a better chance of selling your ring. Be sure to use every safety net available to ensure that you receive payment, as scams harm sellers just as they do buyers.
  • Worthy – Where other formats make you responsible for photographing, describing, and authenticating your jewelry before cleaning it, packing it, insuring it, and shipping it to your buyer, Worthy takes care of these important details on your behalf. Worthy is safe, secure, and boasts a 5-star rating on TrustPilot. Additionally, your valuables are fully covered by Lloyds of London brokers from the moment you transfer them from FedEx to the buyer. You are kept in the loop as the pre-sale process and auction progresses, and at the end of the auction, you have the option to refuse the final bid if it does not meet your expectations. At this point, we would return your diamond ring at no cost. The process takes an average of two weeks or less to complete, and when the sale is made, money is transferred securely to your account.

Why Sell Your Diamond Ring with Worthy?

There are many different scenarios that lead to diamond ring resale. The truth is, holding onto a ring that reminds you of a painful experience isn’t doing you any favors. Letting it go can actually be a cathartic experience, especially if you are able to sell it and use the money for something that benefits you. Your diamond ring is a financial asset and should be treated as such. Use it to pay off debt, make ends meet, build an emergency fund, save/pay for a vacation, or anything else that contributes to your overall happiness.

Worthy’s auction platform and personalized services set us head and shoulders above the rest. Check out some of the major benefits of choosing to sell a diamond ring with Worthy.

Better Offers

With our selling platform, multiple buyers are competing for your diamond ring at once, so it’s easier to sell it for more. We work with a network of professional jewelry buyers from around the world.

This means your ring will be visible to numerous educated buyers who will recognize the value of your jewelry.

Fast and Simple Process

Worthy helps you sell your diamond ring on a fast, fair, convenient platform. Cleaning, grading, photography, and expert marketing are an essential part of every sale. This ultimately enables us to offer your ring to a worldwide network of professional jewelry buyers. The only thing left for you to do is schedule a FedEx pickup at your convenience.

Your Jewelry Is Fully Insured by Brokers

When you transfer your diamond ring to Worthy for auction, we provide a prepaid shipping label that protects and fully insures your ring. This coverage will remain active until your ring sells. Worthy provides full insurance coverage for every shipment through Lloyd's of London. They have been a global leader in insurance since 1688, and we rely on them to protect all valuables auctioned on our platform.

Read more about our item protection policy

Complimentary Grading for Every Diamond

Understanding what you have is key to obtaining a fair price for your diamond ring. If you don’t know what your ring is worth, you may be more likely to sell it for a lower price. One way to find out how much to expect is to get your ring graded.

All diamonds bought and sold through Worthy are graded at a leading gemological laboratory such as GIA. We only trust the best diamond grading lab 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 appraisal, but this report can even raise the resale price.

More About Our Seller Protection Policy.

Work with Your Own Account Manager

When you sell a diamond ring with Worthy, you’ll be assigned an account manager to help you with the details. Your Worthy account executive walks you through each step of the process so that you’re never left in the dark. You remain updated as the auction progresses and you always know where your ring is and what is happening with it. If you have any questions along the way, you can reach out to your account manager for more information.

lloyds insurance
Luxury Item Protection
Worthy provides full insurance coverage for every shipment. We trust Lloyd's of London, a global leader in insurance since 1688, to protect all valuables auctioned on our platform.
Click here for more about our item protection policy

How to sell a Diamond Ring with Worthy:

  1. Submit Your Item. Tell us about your diamond ring. We’ll ask you to provide basic information such as setting, shape, and carat size. After gathering the necessary details, we’ll let you know if it's suitable for auction.

  2. Secure FedEx Pickup. We’ll provide you with full insurance coverage and a prepaid shipping label addressed to our headquarters. This way, your ring is protected, even during transit.

  3. Grading and Auction Preparation. Once your ring arrives at our offices in New York, it is cleaned, professionally photographed, and sent for a complimentary diamond grading at a top gemological lab, such as GIA, so that you know exactly what your ring is worth.

  4. Auction. Professional jewelry buyers are invited to bid on your ring based on the flawless photographs and detailed report. You are able to watch the auction map live as the bids roll in.

  5. Get Paid. If the highest offer meets or exceeds your reserve price, you get paid almost immediately. If not, you have the option to have your ring returned to you free of charge and fully insured.   

How Worthy Gets The Most Money for Your Diamond Ring?

Worthy has established a network of professional buyers who trust our process. This means they are eager to purchase diamond rings and other luxury jewelry using our platform. With the right competition, bids increase, and the final price of your diamond ring goes up. There’s no worrying about vetting individual buyers, because we already have a set of qualified buyers ready to bid on your ring.

In other words, the marketplace and the competitive nature of the auction combine to ensure that you receive a fair price for your diamond ring instead of settling for whatever an individual is able to offer. Selling your diamond ring with Worthy gives you access to a vast audience of buyers who are eager to pay top dollar.

Recent Diamond Ring Deals:

Using Worthy was so easy, I felt very comfortable.
Sierra Fein · Happy Client

What Factors Determine Your Diamond Ring’s Value?

There are several factors that go into determining the value of a diamond ring:
  • Brand: Some jewelry brands are worth more than others, and the value of a brand name can change over time. If your ring is from a luxury jeweler such as Tiffany, David Yurman, Cartier, or Harry Winston, it’s probably worth more than a similar ring that doesn’t carry luxury branding.

  • Shape: Diamond shapes go in and out of style, and those that are currently trending typically fetch more than those that aren’t. This doesn’t mean that a diamond ring isn’t valuable if it isn’t trendy – it simply means that fair market value increases when a certain diamond shape is in high demand.

  • 4Cs: Cut, Color, Carat, weight, and Clarity are taken into consideration when grading any diamond. The better the diamond, the more valuable the ring is likely to be.

  • Age: Some vintage or antique diamond rings are worth quite a bundle, so don’t hesitate to put an older ring up for auction if you aren’t interested in keeping it.

  • Condition: When it comes to selling a diamond ring, condition makes a big difference. Buyers pay more for rings that are in good to excellent condition. Still, if the diamond is a valuable one, many buyers are willing to overlook worn or scratched settings as the diamond is the main attraction.
When the time comes that you feel ready to sell your diamond ring, Worthy is here to help you navigate the process. We look forward to helping you with this big step and understand the emotions that may come with it. Skip the cold, impersonal alternatives and get the highest value for your ring with Worthy.

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