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If you don’t already have one, it can be a good idea to have a ‘fair market’ appraisal conducted before you sell, to understand how much your ring is worth, bangkok apartments for sale rather than a ‘replacement value’ appraisal. Unfortunately jewelry is a commonly stolen item – it’s high value and easy to move. The first will show that the ring is yours to sell. A receipt or other proof of purchase will therefore go a long way to proving to a potential buyer that the ring is yours.
Diamond ring appraisal prices vs. And when it comes to selling a diamond, people often understandably base their expectations on the appraisal price. In reality though, the price that a diamond can actually be sold for will almost always be significantly lower than an appraisal value. Firstly, one thing to know is that appraisals are almost always higher than the actual value of the ring. There are two reasons for this – one which is valid, and one which is less so. Most people who own a significant piece of jewelry will have received an appraisal certificate with the purchase.
There are many reasons to sell a diamond ring – a change in life circumstances, an upgrade of an original engagement ring, passing on a family heirloom, or something else entirely. This is a long article, so if you’ve made it this far, you are obviously serious about selling. To summarise, our recommendations for the best place to sell your engagement ring to get the most money are below. Excellent customer experience and a fast transaction speed (typically 5-7 days) make this the best choice for higher value rings.
‘We buy gold’ shines the neon sign and yes, these businesses do indeed buy gold, as well as platinum, diamonds and many other precious metals. Like a pawnbroker, they will give you an assessment of the value straight away and will offer cash. We contacted two NY-based ‘We buy gold’ organisations and the offers that we received back were: $1,300 and $1,500. They are essentially a middleman who take the items that they buy and resell them on. Many local jewelers don’t buy second hand jewelry because they would rather focus on selling new jewelry – the profit margins are better and it is less work for them. If you can find a local jeweler who will buy your ring, they will normally sell it to a dealer who then will sell it to a wholesaler.
The exception to this are designer rings, which do have a secondary market and which can be sold as complete rings. Jewelry from these brands is known as ‘signed’ in the jewelry trade as they include an engraving of the maker’s name on the inside of the ring. They also don’t assign a value to a diamond but they are a key factor in deciding how much a diamond is worth. Grading reports are different from appraisals as they are prepared by an independent lab rather than a jeweler.
