What Options Do You Have For Selling Your Engagement Ring?

Making the decision to sell your engagement ring should be the hardest part – the rest should be easy. Don’t let your experience be ruined by a low appraisal, or interacting with someone who doesn’t know how to appreciate what the ring is really worth. If you have a ring to sell, here are several options for you to consider before choosing the best way to sell it.

Auction Houses

One of the most traditional ways to sell off an engagement ring. Auction houses typically have diamond and jewelry experts who would be able to give a proper evaluation of the value of your ring. However, you will have to get on the schedule for the next auction, and the auction house takes a cut off the selling price. Also, there is in fact no guarantee as to whether it will sell, as it all depends on the fickle taste of the market. If you’re willing to see how high a bid can go, this could be a fun option – but if you’re not willing to have to sell it to a lowballer, this may not be the right way for you.

Pawn Shops

Pawn shops take the risk out of the equation, as they will most likely buy your ring from you. There are always many pawn shops to go to, and they are a great option if you want some quick cash. The problem with pawn shops, however, is that they usually don’t hire experts – they might just put your ring on a scale and give you a low price for it. However, the melt price of a ring might not be enough for you, especially if it is a designer item, vintage, or may have a higher market value for any reason, you would not be satisfied with this option.

Specialist Jewelry Buyers

When you’ve got something valuable, you know you won’t part with it for less than the best value it can bring you. That’s when specialist jewelry buyers come in. While they are not as common place as pawn shops, nor bring potentially high speculative prices like auction houses, they are experts in their field, and highly trustworthy. You can send in your ring for a thorough evaluation, get a quote, and you will not have to part with the ring if you don’t feel comfortable with the price.

Any Recommendations for Jewelry Buyers In New York or New Jersey?

For a reliable, trustworthy option, look to Global Gold & Silver. We are accredited by the Better Business Bureau, and our previous customers left us high praises on Yelp and Citysearch! We have a gemologist available at each of our three branches, who would be happy to give you an itemized appraisal of your ring, and share with you as much information as we can. We do our research as well based on brand, design, and historic value, to know if items brought in might be worth more than just the metal scrap value. You can feel confident that we will pay out a fair sum for your items. Best of all, if you are tight for time, you can even sell by mail and we can send you our valuation for you to consider. Read our FAQ, or visit us in any of our stores to find out more!