Wedding rings are very personal items, which are often seen as a symbol of love, union, and passion. However, not all relationships last, and not all rings are meant to be kept forever. If you have experienced a divorce, you might want to sell your wedding ring as a way to make some extra money. Or, in the case of a broken engagement, many partners choose to sell their engagement rings after the couple breaks up before committing to the "big step."
Where Should I Sell My Ring
There are many establishments that will help you sell your wedding ring, engagement ring or diamonds. Traditionally, most ring buyers used to fall into one of five categories:
- In-person auctions
- Online auctions
- Local jewelry stores
- Jewelry chains
There are pros and cons to each of these options, with some services gaining more popularity than others. Many in-person auctions will only include incredibly rare and valuable diamonds, while online auctions can leave you with no wedding ring and a smaller payout than your item merits. Pawnbrokers are known to pay very little for rings, and local jewelry stores have a reputation for treating one customer very differently from the next. Jewelry chains, of course, are large corporations with a focus only on their bottom line—not on customer satisfaction. Thankfully, today's consumer has a sixth choice, with unique guarantees and a business model that's able to pay more for rings than the traditional options.
Why Choose an Online Diamond Buyer?
Whether or not your wedding ring contains diamonds, there is a quick and effective alternative to the above options: an online jewelry and diamond buyer. Some online jewelry buyers have carved out a reputation for great customer service and competitive offers for wedding rings. While some online jewelry buyers are really just another auction site, the best buyers, like SellYourGold.com, employ GIA-educated appraisers who will make a professional evaluation of your wedding ring and offer you a fair market price.
How Does it Work?
It can be intimidating selling something valuable online, like your wedding ring or your engagement ring. The most reputable online jewelry buyers, like SellYourGold.com, provide you with a simple process to follow, and helpful customer service if you have questions. Here's how to sell your wedding ring:
- Fill out the buyer's online form, which typically asks for a minimum of information (such as name and address) to keep the process streamlined. Using this information, the buyer will send you an "Appraisal Kit" containing packaging materials, a guide for determining your ring's value, and a prepaid FedEx label.
- Using the materials provided by the buyer, package and send in your items for appraisal. If this step concerns you, check the insurance coverage provided by the buyer. SellYourGold.com, for example, will insure your items for up to $25,000**, more than enough to put your mind at ease.
- Once your wedding ring has been appraised, a company representative will contact you with your offer details. This is a great opportunity to learn more about your item, and the representative should be able to answer any questions you have. Accept your offer, and the buyer will deposit your payment into your account—usually within 24 hours.(Note: if your buyer is a major nationally-recognized jewelry buyer like SellYourGold.com, they won't have any problem sending your items right back if you decline your offer.)
Remember, a wedding ring or an engagement ring is not just another piece of jewelry. It can potentially hold a lifetime of sentimental value. But when a marriage ends, or when an engagement is broken off, that ring can be an unpleasant reminder. When that happens, your ring can have more cash value than emotional importance. After you decide to sell your wedding ring, use this guide to help you find the right wedding ring buyer.