Looking to sell your engagement ring for a fair price? Then check out our guide to finding engagement ring buyers in Chicago.
Are you looking for ways to make some quick cash for you and your family? Do you have an interest in getting a new ring to celebrate your and your spouse’s anniversary? If so, then you should consider selling your engagement ring to engagement ring buyers.
Doing so will help you to get some much-needed cash in hand. However, to make it worth your while, you need to find the right buyer. There’s a technique on how to sell an engagement ring and maximize your return.
See below for the tips and tricks you need to know when you look for the right ring buyer to sell it to.
1. Manage Your Expectations
Before you go looking for the perfect jewelry buyer to sell your engagement ring to, it’s important to know a few things. You need to manage your expectations before you go out asking for a certain price.
An engagement ring is a lot like a car or a boat in that sense; you’ll never sell it for more or as much as you paid for it, and that’s okay! If it’s served you well for many years, then you’ve certainly received a high return on your investment.
Now it’s time to get some cash in hand! Go find a buyer that you can sell to directly. If you use a middle man to sell the ring, that person will take a fraction of what you’ve sold the ring for.
Most importantly, you need to go to an expert jewelry buyer to get the best price. Don’t go to the pawnshop. Don’t auction it off online. Go to someone that knows the true worth of your ring.
One of the following steps below is to get your ring evaluated by the right buyer, which will help you find the right price.
2. Find the Right Engagement Ring Buyer
So how do you know when you’ve come across the right buyer to sell your engagement ring to? There are a few key traits to look for. Think in terms of professionalism. The more professional the company seems, the more legitimate they are.
Here are a few things to look for when you reach out to an engagement ring buyer:
- Do They Answer Your Question?- Does the buyer you’re speaking with seem knowledgeable on the industry? Do they answer your questions or just try to beat around the bush?
- Do They Schedule In-Person Appointments?- You want to go through this process in person. Make a connection with the buyer. Talk through the price. Negotiate where you can.
- Are They Diligent With the Diamond?- Do they take their time while looking at the diamond and give you a fair offer on what they find?
3. Have Them Perform a Ring Evaluation
If you haven’t already, you need to have a professional take a look at the value of your ring. Fortunately, if you find the right ring engagement buyer, they can do the evaluation for you!
The analysis can be performed in-house, meaning that you won’t have to make several different stops to sell your ring for the right price.
They can do so in front of you and explain each feature of your ring in detail. The center stone is almost always going to be the determining factor in the price of your ring. The buyer can provide more detail as they see fit.
The best part? This eliminates the need for your to receive an appraisal or any other documentation for us to make you an offer.
More often than not, an appraisal will state an amount that’s impossible for you to sell for. It’s priced for insurance purposes, not for selling purposes. So it isn’t in your best interests to get one for this process.
Getting your ring evaluated will help you understand the true selling value of your ring. It can help grant you more confidence when you and the engagement ring buyer move into negotiations.
4. Read Online Reviews
For that reason, you should take the time to read through online reviews left by previous customers. Are they happy with the service they received? Did any of the customers sell their engagement ring to them? Did they get a fair price on their jewelry?
If you would like a bit more insight, you can ask the buyer for client references that you can call and ask for more in-depth information.
5. Remember the Four C’s
In the jewelry industry, four major components determine the value of a diamond. Which, as pointed out earlier, is likely to be the priciest part of your engagement ring.
Those four components are known in the industry as the “four C’s”: Color, Cut, Carat, and Clarity. If your ring bodes well in all four areas, you’re likely to sell it for a higher price!
If you’re working with a trustworthy engagement ring buyer, they can help walk you through each of the four C’s and where your ring stands with all of them.
Find the Perfect Engagement Ring Buyers for Your Needs
Now that you have seen several important tips and tricks when looking for engagement ring buyers to work with, be sure to use them to your advantage.
Need more information? Be sure to read this article on our site about how and where to sell engagement rings in Chicago.
For more inquiries that you may have, be sure to visit and read a page answering some of our most frequently asked questions from customers.