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Posted 01/12/2023 in Business by iValue Lab

When Your Engagement Ring Isn’t Forever - Where’s the Best Place to Sell?

When Your Engagement Ring Isn’t Forever - Where’s the Best Place to Sell?

Do you have an engagement ring that you are looking to part ways with? Perhaps you and your partner are no longer together, or you upgraded your diamond ring for one that suits your style, budget and preferences better today. If you don’t want to keep your diamond ring anymore, there are ways to explore making money from it. 

Your engagement ring is a valuable investment. The problem is it can be hard to know where to begin if you want to sell your engagement ring. How do you know who to trust or the true value of the ring? If you have made the difficult decision to part ways with your engagement ring, we’re here to help. 

Although the saying goes, “Diamonds are forever,” sometimes your engagement ring is not meant to be. In this blog, we’ll help you find the best place to sell your engagement ring, how long the process takes and pro tips. If you’re looking to trade your ring in for cash, here’s how to sell your engagement ring. 

Start With an Appraisal 

A ring appraisal will be the first step in evaluating your ring. A certified jeweler, estate planner or insurance provider can help to determine the type of appraisal you need. What you need to know is that an appraisal is essential to knowing the current value. This will come in the form of an official document that verifies the market value of your engagement ring. A ring appraisal includes information about the characteristics of a ring including its monetary value. 

While you may know the price you paid for your ring, the market for diamonds, gemstones and metals is ever-changing and this will likely have evolved from the time of purchase. An appraisal will give you a professional assessment of what you can expect today. They will also let you know of any existing damage or wear or tear which can be especially relevant if you’ve had your ring for many years. 

How Much Can I Get for My Ring?

The honest answer is that it depends on the ring. There are so many consideration factors that go into an engagement ring’s value, from the carat weight to the setting to its provenance. The vast majority of the time, people get anywhere from 40-75% of the ring’s original value, so you’ll want to make sure you’re on the high end of that range. 

Where is the Best Place to Sell My Diamond Ring? 

If you’re looking for the best place to sell your engagement ring, look no further than iValue Lab. Yes, you may have heard that pawn shops or local jewelers will look at your ring, but you certainly won’t achieve the highest price for your engagement ring at either of those places. 

With iValue Lab, the entire process is seamless. Navigate to the free appraisal form on the iValue Lab website and include a detailed description of your ring along with photos. iValue Lab will provide a rough estimate of the jewelry appraisal, although they need the jewelry on hand to give you the most accurate estimate. 

If you wish to move forward, iValue Lab will send a courier to go pick up the jewelry. iValue Lab covers the cost of transportation and insurance so you are fully covered. Once your ring reaches them, the entire process is recorded front to end so you have an added layer of transparency, protection and security. You will receive a final offer once their in-house gemologist inspects and appraises the ring. 

If you decide to accept, iValue Lab draws up an agreement. Once the paperwork is finalized, your money is transferred directly to you within 24 hours from the time of package receipt to iValue Lab. This process is risk-free with no upfront charges or fees. 

Furthermore, the entire process is confidential to respect your privacy. Especially if you are looking to sell an engagement ring, which can be an emotionally charged process, these are the best people to make you feel comfortable and secure in your choices. 

Contact us for more information! 

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iValue Lab

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