Are you planning to sell your old engagement ring? In case you approach any local jeweler who sells diamond jewelry, then you are likely to get very low offers. This is because the jeweler has to pay his employees and also spend on his storefront. His consumer base is limited. Here are some major factors you should stress upon, so as to get the best deals on your engagement ring:-
Pricing
The price of your engagement ring will depend on some factors such as color, clarity, the carat weight and cut. You can check these details on a diamond certificate. However, to quote a good price, you will also have to make sure that your diamond is in good working condition.
Though engagement rings are made from diamond, they are subjected to a lot of wear and tear. In case it gets damaged, it will need to undergo repair. This might have an adverse impact on its price. Therefore, you should pay adequate attention to the proportions of your diamond engagement ring.
Look for a Trustworthy Buyer
Though there are many companies who would be willing to buy your engagement ring, you need to be very selective about the buyer. Some buyers can provide high estimates at the initial stage, but then offer lower quotes to persuade you to sell the ring at a lower price. Therefore, opt for a jeweler who has an established market reputation and have experienced professionals as part of their professional team.
Verify the Certifications of the Diamond Engagement Ring
The proportions of a diamond have a major impact on its market price. In case you possess a certificate from IGI or GIA, then the initial quote that you will get will be quite close to the final offer. Gemological laboratories are independent institutions and have expertise in grading diamonds. Therefore, make it a point to check the certification of your engagement ring before getting in touch with potential buyers.
Check the Fluorescence of the Diamond Ring
Another major factor that you will need to take into consideration is the fluorescence of your diamond engagement ring. Fluorescence diamonds are those that give out a glow once they are put under UV light. Diamonds of this type are far and few and usually come with a certificate.
Usually, the presence of strong or visible fluorescence may reduce a diamond’s value by as much as 25%. Therefore, you should approach a buyer who has expertise in diamond jewelry to assess the fluorescence of your diamond ring. It will help you to determine its selling price.
Look for Buyers who Offer a Free Transaction
In case you come across a jeweler who is serious about buying your ring, find out whether they are willing to bear the shipping costs to have a look and provide their quote. In case they ask you to pay for the shipping charges, then it would be wise on your part to avoid them.