When an engagement is broken up, the girl is supposed to return the ring to the guy. That’s the decent thing to do. So, do that.
If you’re the guy, you shouldn’t keep the ring to give it to the next girl you want to marry. You need to sell it. Others keep it and have it redone for the next girl but it’s really not a nice thing to do. No girl deserves a hand me down. Just sell it.
Here are some things to remember when you are selling the ring and places to check out.
Note: I am taking sites like ebay off this list because you know that already. I’ll concentrate on the ones you are less likely to know about.
Things To Do Before Selling
1) Get it appraised from an independent body like GIA, IGI or EGL. You are less likely to get the appraised value but at least you’ll have a nice benchmark. Also remember that if you bought the ring in a store, the actual value or street value is way less. Don’t be shocked to find out it’s less than 25% of what you paid for.
2) You may consider holding on to it first. Remember that a gem’s value go up as time goes by. If you hold on to it long enough, you might break even or even earn a profit.
3) Prepare you documents. Know the color, clarity, cut and carat (weight), if you don’t know that yet. You should have a Laboratory Certificate when you bought the ring. If not, the Appraisal certificate should have that. Also have the Official Receipt ready.
4) Take your time. You just might find buyers in least likely places who are willing to pay more.
Where to Sell Diamond Engagement Ring
Idonowidont.com specializes in selling wedding-related stuff like engagement rings. They will not allow you to directly deal with the customer. You will have to send them your ring and they will have to check your ring and appraise it to make sure the customer is getting their money’s worth.
The site was put up when the owner found the engagement ring he gave her fiancée on his table and his fiancée gone. With nothing to do with the ring, he put up this site. He is now married and his site has grown to be a million dollar site. They earn by getting a commission from every sale they make.
Needless to say, you will get about 80 percent of the appraised value of your ring.
Exboyfriendjewelry.com is like ebay but they concentrate on jewelleries. You set your own price and let customers trade with you directly. You can list up to 5 items at a time. The site has a little extra. They encourage you to blog about the story of the jewellery you are trying to dispose of. You can thrash talk your ex to your heart’s content.
They encourage the use of safefunds.com to protect the buyers. That means funds are stored in a system but it will only get released once the buyer allows it to be released. Most likely after the buyer gets the item and sees it is what she or he expected.
Haveyouseenthering.com is like idonowidont. You can post the piece you want to sell but before the item is shipped to the customer, they will need to appraise your ring and determine whether it is authentic and all the information you provided are correct. This added step means the customers are also willing to pay more. They give you better appraisals than a pawnshop.
When you list your item, buyers may offer you a lower price or buy it at the price you listed. It’s up to you to reject or accept offers. Once, you made a deal, the site will give you instructions on where and how to send your item. They will appraise your item before sending it to customer IF it passes their standards.
Bravobride.com buy and sells used wedding items including engagement rings. They are more like exboyfriendjewelry.com in their system. You post your item and buyers will contact you directly if they are interested.
The negative side of this site is that they will charge you $19.95 for rings and wedding gowns listing.
You don’t have to sell your engagement ring. There are other options.
- Trade. There are sites that allow you to trade your engagement ring. You will not get a ring with the same value but at least you can have something new. You may also choose rings with the same value or higher value but you need to add more cash or give more jewellery.
- Melt it. You can have the gold or the metal melted and the stone reshaped to create a new ring or another piece of jewellery altogether.
- Donate. If you have a friend or a relative who needs a ring, donate it or sell it at a loss.
- You may go to a pawnshop but they will give you less than 40 percent of the real value of your ring. They need to make a profit and the only way they can do that is if they buy things at a really low price and sell it low, too.
- Sell it to someone you know. You don't need to go to a shop or a website to dispose your ring. You may actually ask around and see who is looking for a ring.
- Walk-in. There are a lot of stores that buy used jeweleries. You can always walk in and have it appraised.