Sell Your Engagement Ring With Trust
Last updated: June 26, 2019
When the time comes to sell your engagement ring, we know you want a trustworthy, understanding company to walk you through the process. We specialize in selling engagement rings, in addition to loose diamonds, as well as other types of luxury items.
- Why Selling Your Engagement Ring with Worthy
- How Selling Your Engagement Ring with Worthy Works
- Understanding Your Engagement Ring’s Value
- Where Can You Sell Your Engagement Ring
- Insights from Worthy’s Auctions
Why Sell Your Engagement Ring With Worthy?When selling your engagement ring, we know your priorities are getting the best price for your ring and selling it in a safe and easy way. That’s why Worthy has developed a simple way of doing things by using our online auction platform. Our platform makes it easy for professional diamond buyers to see your ring and for you to monitor the auction. We take care of all the lab grading, cleaning, and care of your diamond so the buyers know what they are getting and know your ring’s true worth. And once the sale goes through, we make sure to get your money to you quickly so you can move on.
When using Worthy, you will benefit from:
- Better offers. Sell your engagement ring for more when multiple buyers compete for it.
- Fast, simple process. Many of our clients tell stories of the frustrating process that typically occurs when seeking a fair price from one local jeweler after another. Worthy is different: we help you sell your diamond engagement ring on a platform that’s fast, fair, and convenient. Grading, cleaning, photography, and marketing expertise are part of every sale. Simply schedule FedEx pickup and we’ll handle the rest, ultimately offering your ring to our worldwide network of professional jewelry buyers.
- You’re covered with up to $100,000 in insurance from reputable providers. When sending your ring to Worthy for auction, you will receive a prepaid, fully insured shipping label that provides 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 the key to obtaining a fair price for your engagement 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 jewelry is and what is happening with it.
How Selling Your Engagement Ring Works:
- Submit Your Item. Tell us a bit about your ring, such as the carat size and shape, and we'll tell you 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 item 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.
Recently Sold Engagement Rings:
Understanding Your Engagement Ring’s ValueWhen selling an engagement ring, it’s very important to understand how diamonds are valued - after all, they play starring roles in most engagement rings!
- Cut: Even though diamonds come in a variety of intriguing shapes, the term “cut” refers not to the outline or shape of a diamond, but to the angle, number, and type of edges or facets on the diamond. High-quality cuts offer more sparkle and shine since they reflect light better than low-quality cuts.
- Color: While fancy colored diamonds are gaining popularity, most engagement rings continue to feature white and colorless or “clear” diamonds. The less color a diamond has, the easier it is for light to pass through it, and the easier it is for those same lightwaves to be reflected and seen outside the diamond. Since the color change from one grade to the next is extremely subtle and nearly impossible to detect with an untrained eye, color determination is among the chief aims of professional diamond grading.
- Clarity: Most diamonds contain microscopic defects called inclusions. The more inclusions a diamond has, the more difficult it is for light to pass through. Clarity is a term that refers to the number and type of inclusions. The fewer inclusions, the more valuable the diamond.
- Carat: Weight or “carat” is among the most important factors when determining a diamond’s value. The larger the diamond, the rarer it is and the more valuable it is likely to be.
We also consider the ring itself. The type of precious metal that it contains contributes to its overall value.
Where Can You Sell Your Engagement Ring:
Finding a place to sell your engagement ring isn’t so difficult but finding a place that will sell it quickly and give you a good price is difficult. The traditional routes of pawn or consignment shops are not likely to get you anything close to what your engagement ring is worth. And local jewelers, while more trustworthy, usually cannot give you a good deal when selling a ring. Worthy, on the other hand, doesn’t have the constrictions traditional jewelry sellers have and can, therefore, sell your ring for quickly and get you a good price by presenting your item to many qualified diamond buyers.
- Local jewelry stores - As trustworthy as these stores are, they will need to take a big portion of the price you get for your ring for themselves to cover their costs. When choosing to sell jewelry locally, you might have to shop around, making the process long and draining.
- Consignment shops - Much like local jewelry stores, consignment shops have their own overhead costs and therefore need to take a large percentage of the price you get for your ring (often a minimum of 35%). Another problem is if you are in need of quick cash, consignment shops can take a long time to sell your item.
- Pawn shops - While pawnshops can be a great place to find deals on antiques and rare collectibles, they are not the best place to sell jewelry. If you are looking to make money quickly, you can sell your engagement ring to a pawnshop, but again don’t expect anything close to a fair price for it.
- Ebay - There are over a million pieces of jewelry for sale on Ebay at any given time so if you decide to sell an engagement ring there, you will literally be one in a million. Unlike shops and stores, you can get a good deal on your ring through Ebay but there is no guarantee. One reason for this is that it’s the seller’s responsibility to submit the ring’s characteristics, meaning that sellers who don’t know what they have, don’t know how much to ask for.
- Worthy - Knowing that sellers are looking to get good deals quickly, Worthy has developed a method that lets everyone sell smart. Each engagement ring is sent to a grading lab for a full analysis, meaning sellers and potential buyers know exactly what the ring is. The ring is then put up for auction to a network of professional buyers who know the true value of the ring and are able to pay the true price. That way, sellers get the deal they need and there is no waiting around for the right buyer to come along.
Insights from Worthy’s AuctionsWhile we certainly think that Worthy is the best place to sell an engagement ring, we are not the only ones:
- 75% of our auctions last year were for diamond bridal jewelry, either bridal sets (engagement and wedding ring) or a diamond solitaire ring.
- And when it comes to style, the three most popular ring styles in our first-quarter auctions of 2019 were bridal sets, solitaires, and halo settings. These three accounted for more than 82% of all our auctions.
- Do you have a round-cut engagement ring you’re looking to sell?
51.6% of Worthy’s 2018 diamond auctions were rounds.