Should You Sell Your Engagement Ring (or wedding band) After Divorce?

Don't hold on to a token of a relationship gone wrong —  sell your bridal jewelery to Buymyjewellery.com today and use the money for a positive new start. 

I had a beautiful engagement ring It was quite expensive origionally it was custom made with 2.00cts of diamonds.

It was totally my style, and it got lots of attention (which is also my style).

When I got divorced, I put the wedding rings in the safe in my house.

In the back of my mind, as I just wasn't ready to part them as I still had an emotional attachment to them.

Plus, I just wasn't ready to sell the engagement ring — or part with that time of my life.

I just wasn't ready to face selling them.

When you’re ready to sell your engagement ring and wedding band, sell to Buymyjewellery.com

 

How to sell your engagement ring (or wedding band)

 

    1. Why sell your engagement ring
    2. Where to sell your engagement ring
    3. How to sell your engagement ring
    4. Sell other types of fine jewellery and watches
    5. Where to sell diamonds and gold online
    6. Reviews/Testimonials

 

Why sell your engagement ring?  ( Sarah O'Neil)

 

Then, a few years ago, I just thought why am I holding on to it.

 I had a few friends in the same situation who had got divorced and sold their wedding and engagement rings.

 I couldn't sell it at first as I still had too many emotions attached to the ring. Just memories I guess silly really but now I closed the door on that chapter I knew it was time to let go and sell it.

If you surround yourself with things that remind you of the relationship from which you are trying to start anew, well in the land for Feng Sui it's not a good thing so I decided to sell my engagement ring.

 I shopped around a few places online and my local jeweller and Buymyjewellery.com offered me the best price and it was simple.

 

 What you need to know about selling diamonds before you sell your engagement ring.

 

There is definitley lots of options available when it comes to selling your unwanted diamond ring.

You can search Yell to find your local jeweler or pawnbrokers (or you can sell your jewellery online).

Before you sell your diamond engagement ring, or other precious jewelry, first educate yourself a bit about diamonds, as well as how the valuing and pricing process.

How To Tell If A Diamond Is Real

While sending it to be tested by a Labratory is the only way to be certain whether your diamond is real, there are some easy ways to test at home:

 

  1. If your diamond is unmounted (not set in jewelry), simply drop the gem into a glass of water. A real diamond will sink to the bottom. A fake will float.
  2. Have a look with a magnifying glass. All but the very rarest, highest quality diamonds have small, natural flaws and imperfections which are known as inclusions.
  3. A fake will be “perfect” — without any natural flaws
  4. Heat test it. Hold the stone with tweezers and hold above a lighter or candle flame for 45 seconds, then drop into an icy glass of water. A real diamond will not be affected by the extreme temperatures, while a fake will likely shatter.
  5. Take it to your local jeweller they can test it with a diamond tester or you can send it to us for an appraisal.

 

How much are diamonds worth?

 There is 4 main factors which effect the value of a diamond we will have a look at these below in a bit more detail.

 

4 C's of Diamonds

The “4 C's of diamonds” is important when it comes to the value of diamonds it's an easy way to understand all the ways the gemologists and buyers determine how much you can sell your engagement ring or other diamond jewelry.

 

A Diamonds Cut

The First C is the diamond's cut its the way a stone is finished. A skilled diamond cutter chooses to make precision facets that minimize a stone's natural flaws, and enhances its natural beauty, brilliance and shine.

A diamond grader looks for a stone cut with symmetry, precision, and polish, as well as attractive proportions. The Gemological Institute of America's grades a cut on a scale ranging from Excellent to Poor.

 A Diamonds Colour

Most diamonds are actually not pure white. In fact, the most valuable diamonds include those in shades of bright yellow (“canary diamonds”), green, red, and blue, and are called “fancy diamonds” and are graded on a scale of their own.

 

Diamonds also come in shades of brown (“cognac diamonds”), and even black, though these tend to be less valuable than white diamonds.

 

Most white diamonds are usually various shades of pale yellow. The brighter the white, the more brilliant the stone tends to be, and the greater the value.

 

The GIA's color grading scale for white diamonds ranges from D (colorless) to Z (light yellow). GIA's color scale:

What makes a diamond valuable

 Diamond Clarity

 Because diamonds are formed deep within the earth, under extreme heat and pressure; virtually all diamonds contain "birthmarks"; small imperfections inside the diamond (called inclusions), or on its surface (called blemishes).

Clarity refers to the degree to which these imperfections are present. Diamonds which contain numerous or significant inclusions or blemishes have less brilliance because the flaws interfere with the path of light through the diamond.

 

The position of an inclusion affects how easily it can be seen. Diamond cutters make every effort to cut a stone so that inclusions are not visible through the table of the finished diamond. The preferred position for inclusions is under the bezel facets or near the girdle because they are harder to see there.

 

Almost all diamonds are graded for clarity using the 11 point diamond clarity scale created by the GIA.

In grading diamond clarity, the GIA considers the number, size, color, reflectivity, and position of every flaw visible under 10x magnification.

 

 

GIA's diamond clarity scale: 4 Cs diamond clarity

 

Diamond Carat Weight

Diamonds are sold by the carat (shown as ct.), which is actually a unit of weight, though most think of a carat in terms of size.

The word "carat" comes from the "carob" seed, the original unit of measure for diamond traders. Today, a carat is equal to exactly 0.2 grams (about the same weight as a paper clip).

Carat weight is unrelated to the similar sounding karat, which refers to gold's purity.

Two diamonds of equal carat weight can have very different costs based on the other factors (such as cut, colour, and clarity). In understanding the importance of carat weight, know thy partner. If the recipient's heart is set on a certain size diamond, then carat weight will probably be the most important factor in your search until the desired size is attained.

At that point, other criteria will take on more importance. Most women can tell you the carat weight and shape of their ideal diamond, and most men can tell you the price.

As the carat size of a diamond increases, the diamond's price increases at a large rate.

Why? Because the larger the diamond, the more increasingly rare it is. Fewer than one in one million mined rough stones are large enough to produce a finished 1 carat diamond. So, as carat weight increases, you will typically pay more not only in total, but on a price-per-carat basis as well.

The table below illustrates the typical relationship between diamonds of equal quality and increasing carat weights:

 

The 4 C's of a diamond

 GIA certification

There are just a couple internationally recognized jewelry grading laboratories, and these include the Gemological Institute of America, or GIA, based in New York City, and the International Gemological Institute, or IGI, based in Antwerp, Belgium.

We work with both of these laboratories, which provide the most respected, independent, third-party certifications (a.k.a. lab reports) on your jewelry.

A certification, or grading report, is not the same as an appraisal.

An appraisal is typically done by a single jeweler, such as a jewelry store owner, based on their expert opinion. Some of these appraisers and jewelers are certified by GIA, but that does not make their appraisal “GIA certified.” GIA and IGI laboratories are equipped with extremely sophisticated grading equipment, and they provide value estimates based on databases of millions of recent sales.

An appraisal for insurance purposes (commonly provided by local jewelers), is typically much, much higher than the actual resale value of your diamond jewelry.

A GIA certificate, or IGI certificate, provides definitive grading information about your diamond or gemstone ring, earrings, necklace, brooch, or bracelet. The certificate will also provide a market value range for your item. Expect to pay £100 to £200 for most reports, though more valuable jewelry will cost more to grade.

If you chose to sell your engagement ring or other diamond or gemstone jewelry with Buymyjewellery.com our inhouse experts are diamond graders and have the knowledge and expertise to accurately grade your diamonds.

What is a GIA report check?

Just as there are a lot of fake diamonds on the market, there are also a lot of fake GIA reports. If you are buying or selling jewelry, and you want to double-check whether the information on a GIA certificate is authentic (or if you lost your lab report), you can quickly enter the certificate number on GIA's site, and immediately access the report for free. 

Receive your quote

 

How much is a 1 carat diamond worth?

 

As outlined, there are many factors that determine the value of your diamond, including the cut, clarity, color and carat weight, as well as style, setting and the market at the time of sale.

 

The price you would pay for a diamond in a store, or retail price, is much higher than what you can expect to receive if you sold your diamond to a jeweler, or an online diamond buyer, or at auction.

 

Keep in mind: The large, center stone is mostly what determines your ring's value, not the total carat weight of all the stones combined.

 

Here are a few recent engagement rings we have purchased here at Buymyjewellery.com:

 

1.16 carats oval-cut cluster ring, H color, I1 clarity purchased for £1,100.

 

1.10 carats emerald-cut, F color, VS1 clarity, purchased for £3,010

 

1.25 carats, round-cut solitaire ring, F color, VS1 clarity, purchased for £4,600

How much is a 2 carat diamond worth?

Again, these are prices based on the size and quality of the center stone, not total carat weight of all the small diamonds in the piece. 

Here are a few recent purchased at Buymyjewellery.com rings with center stones of approximately 2 carats:

2.12 carats oval-cut solitaire ring, I color, SI1 purchased for £5,950

2.5 0carats pear-cut bridal set, J color, SI2 clarity, purchased for £8,700

2.00 carats round-cut, G color, SI1 clarity, purchased for £14,820

 

 

Do diamonds hold value or increase over time?

 

Is a diamond a good investment?

 

In terms of money, the honest answer is No You are not likely to see your diamond jewelry appreciate in value over time.

 

In fact, expect that the price you will receive at auction or from even a very reputable diamond buyer such as ourselves will be substantially lower than what you paid for it.

 

Why is this ?:

 

  • Diamond buyers are really only interested in the center stone, which they can repurpose into other, more contemporary pieces of jewelry, or custom items for their clients.
  • The retail price you paid includes the design, smaller side stones, and the retail experience. A diamond wholesale buyer will melt the metal down to scrap.

 

That said, there are countless good reasons to sell your diamond jewelry for cash. These include:

 

  • You need the money.
  • You don't wear or enjoy or like the jewelry, and so could use the cash from a sale to pay for a practical bill or an experience or purchase that you would enjoy.
  • The jewelry is a gift or inheritance attached to someone whom you have a negative or complicated relationship. In other words: The jewelry has bad energy for you. Cleanse it!

 

How to sell your jewelry online for the highest price

 

There is lots of options for you if you wish to sell your jewelery online, including ebay or a private sale and each has it's pros and cons.

If you have a significant ring, loose diamond (or branded watch) you expect would fetch more than £1,000 on the current market, then it's important to work with a trustworthy company who have the right expertise to accurately assess your jewellery.

Best yet, you can get a very good idea of whether Buymyjewellery.com is right for you even before you commit to working with us.

 

We can firstly provide you with a no obligation estimate just click here to fill in our online enquiry form 

 

They have historically been just focused on being a jewelery buyer, but have branched out into high-end designer handbags and watches and are looking to expand further in the future.

 

Heres What Customers Are Saying.

 

Check Buymyjewellery's reviews to learn more........

 

How to sell your engagement ring online:

 

  1. Go to Buymyjewellery.com
  2. Enter your name and email, along with basic information (diamond color, carat weight, clarity, etc.) about your jewelry, including size and grade of your jewelry or stone.
  3. We will let you know our initial estimate
  4. If you are happy with our offer you can send your item to us free of charge via fully insured and tracked mail.
  5. It will arrive at our valuations department within 1 business day.
  6. We will let you know as soon as your jewellery arrives with us, we will carry out an appraisal and let you know our final offer.
  7. If you choose to accept our offer payment is via bank transfer and takes just 1 - 2 working days to clear with most banks.

 

Selling heirloom or estate jewelry or a watch? I write about that selling antique and estate jewelry here.