These are the questions people ask most before selling an engagement ring or another diamond ring. The answers are short and plain, and where a question belongs to a lawyer or a tax professional, we say so.
Sell Diamond Engagement Ring is an independent referral service, not a buyer, pawnshop or dealer. When you call or send the form, we connect you with an independent buyer in New York, who makes any offer.
Where to read more
- The places that buy rings: where to sell a diamond engagement ring.
- The sale, step by step: how to sell an engagement ring.
- Other diamond rings: how to sell a diamond ring.
- Bands and sets: how to sell a wedding ring.
- Which place suits your ring: the best place to sell an engagement ring.
A question that is not here? Ask privately by phone, or send the form.
Questions people ask
Is this site a buyer?
No. Sell Diamond Engagement Ring is an independent referral service, not a buyer, pawnshop or dealer. It does not buy, appraise, grade or test rings, and it does not lend money. When you call or send the form, we connect you with an independent buyer in New York, who makes any offer.
Does it cost anything to ask, and do I have to sell?
Asking is free. An offer is only a figure, and you can decline it, wait, or compare it with others.
Is it hard to resell an engagement ring?
Selling one is usually straightforward; the harder part is the figure. A retail price includes the store’s costs and margin, and a buyer pays what the ring is worth to them to resell, so an offer will be lower than what was paid.
How much can I expect to sell my engagement ring for?
No one can say honestly without knowing the ring. The figure depends on the center stone’s carat, color, clarity and cut, any report, whether the stone is natural or lab-grown, the setting’s metal and weight, and any maker’s name. See how much can I sell my engagement ring for.
Is an appraisal the same as an offer?
No. An insurance appraisal describes the ring and can be a useful guideline, but it is not an offer.
Do I need a GIA report to sell a ring?
No. A report from GIA, IGI or another laboratory makes the stone quicker to describe and confirm, but a ring can be valued without one. GIA offers a Report Check on its website where a report number can be looked up.
What are the 4Cs?
Clarity, color, cut and carat weight: the four factors in the grading system GIA developed in the 1950s. Color is graded on GIA’s D-to-Z scale; Flawless is the top clarity grade.
What is a carat?
A unit of weight: 200 milligrams. A point is one hundredth of a carat, so 25 points is a quarter of a carat.
What does 14K or 18K mean inside my band?
The karat of the gold. Pure gold is 24 karat, so 14K is 58.3% gold and 18K is 75%. Under the FTC’s guides, 14 karat should not be called solid gold, and plated metal is not solid gold.
How is the metal in a ring valued?
Melt value is the weight in troy ounces times the fineness times the spot price per troy ounce. A troy ounce is 31.10348 grams. An offer for metal is usually below melt, because the buyer pays to refine it and needs a margin.
Can I sell a lab-grown diamond ring?
Yes. Ask each buyer first whether they take lab-grown stones. Under the FTC’s guides a lab-grown diamond should be clearly described as laboratory-grown or similar, because it is not a mined diamond. See selling a lab-grown diamond ring.
Is it better to pawn or sell a ring?
A pawn is a loan secured by the ring: you repay it to get the ring back, and you can lose the ring if you do not. A sale is final. See pawn or sell an engagement ring.
What ID do I need to sell a ring in New York City?
An official document with a signature from a US, state, county or city government, a public agency or an employer, or a numbered police, fire or postal badge. You sign in front of the buyer; a copy of the ID is not enough.
How do I check a buyer in New York City?
A business that buys used jewelry in NYC needs a DCWP Secondhand Dealer license. It should be posted where you can see it, and the license number should be on the receipt.
Will a buyer tell me what the metal weighs?
In New York City, a buyer of precious metal must have an approved scale and tell you the troy weight of the metal. Ask for it in writing with the offer.
Who keeps the engagement ring after a breakup?
That is a legal question. New York’s Civil Rights Law section 80-b lets a person go to court to recover property or money that was handed over solely in view of a planned marriage that did not take place. Ask a lawyer about your case. See the engagement ring after a divorce.
Do I pay tax when I sell a ring?
It depends on your sale. The IRS says net capital gains from selling collectibles, such as coins or art, are taxed at a maximum federal rate of 28% (IRS Topic 409). Ask a tax professional.
Can I sell from outside New York?
Yes. You can call or send the form from anywhere in the US. The line is answered in New York City.