Worthy - Best Place To Sell Diamond Ring
Last updated: March 09, 2020
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.
- Were to sell diamond ring for the most money?
- Why sell your diamond ring with Worthy
- How to sell a diamond ring
- How we get the most money for your diamond ring
- What factors impact your diamond ring’s value
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. On average, consignors charge 20 to 50 percent of the final sales price and you keep the rest. 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.
- Jewelry stores – Some jewelers will purchase secondhand diamond rings if they are trending and if they are in excellent condition. Some can offer fair market value. Most, unfortunately, 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.
- Pawn shops – If you have a serious financial emergency and you need cash immediately, a pawn shop 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 pawn shop 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 five percent of diamond jewelry offered on eBay sells, and the market is very much in the buyer’s favor as there simply isn’t much 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 an A+ rating with the Better Business Bureau. Additionally, your item is covered by prepaid insurance for up to $100,000 from the moment you transfer it to FedEx to the moment we transfer it to the buyer. You are kept in the loop as the pre-sale process and auction progress, and at the end of the auction, you have the option to refuse the final bid if it does not meet your expectations, at which point we 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?
Worthy’s auction platform and personalized services set us head and shoulders above the rest:
- Better offers. Multiple buyers compete for your diamond ring, so it’s easy to sell it for more.
- Fast, 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. Simply schedule FedEx pickup at your convenience and we will handle the rest, ultimately offering your ring to our worldwide network of professional jewelry buyers.
- Your jewelry is covered with up to $100,000 in insurance from reputable providers. When you transfer your diamond ring to Worthy for auction, we provide a prepaid, fully insured shipping label that protects your ring with up to $100,000 in coverage. Insurance remains in place until your item is sold to the buyer.Luxury Item ProtectionWorthy provides up to $100,000 in 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
- Complimentary grading for every diamond. Understanding what you have is a vital key to obtaining a fair price for your diamond ring. All diamonds are graded at a leading gemological laboratory such as GIA.100% Seller ProtectionWe only trust the best diamond grading lab in the world, GIA, to grade valuables prior to auction. Diamonds sold with GIA grading reports are considered more valuable and can command higher prices.More About Our Seller Protection Policy.
- Work with your own account manager. Your Worthy account executive answers your questions and 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.
How to sell a Diamond Ring with Worthy:
- Submit Your Item. Tell us about your diamond ring. We ask you to provide basic information such as setting, shape and carat size, and afterward, we let you know if it's suitable for auction.
- Secure FedEx Pickup. We’ll provide you with insurance for up to $100,000 and a prepaid shipping label addressed to our headquarters.
- 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 you have.
- 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.
- 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?Because Worthy’s buyers trust our process, they are eager to purchase diamond rings and other luxury jewelry using our platform. With competition, bids increase, and the final price of your diamond ring goes up. 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:
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.