Most advice on how to sell an engagement ring starts with the steps. But the harder part usually comes before them: deciding whether to sell at all, whether to sell all of it, and how to judge an offer for something that meant so much. This guide is about those decisions. When you are ready for the practical steps, the page on how to sell an engagement ring takes you through them in order.
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.
Is it hard to resell an engagement ring?
Selling one is not hard. Many kinds of business buy diamond rings, and a ring can be valued with a report or without one. What people find hard 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. Knowing that before you start is the single most useful thing in this guide.
Deciding when
There is no right moment, and no need to rush. Some people sell soon after an engagement ends because the ring is a weight; others keep it for years. Diamond and gold prices move, but no one can tell you which way, so waiting for a better day is a guess. A better reason to choose your moment is to choose one when you can think clearly about an offer.
If you are not sure, you can ask what the ring is worth without selling it. An offer is only a figure. Knowing it may help you decide, and you can still say no.
Deciding what to sell
- The whole ring. The simplest choice: stone, setting and any side stones together.
- The stone alone. Some people keep a family setting or a band and sell only the diamond. Ask for the offer to say exactly what is being bought.
- The ring, but not the band. If the engagement ring came with a wedding band, they can be sold apart. See how to sell a wedding ring.
- Reset rather than sell. If you would rather wear the stone differently, a jeweler can reset it. That is a different decision, and worth thinking about before you sell.
How much can I expect to sell my engagement ring for?
No honest page can give you a figure without knowing your ring, and you should be wary of any that does. What moves the figure is clear enough: the center stone’s carat weight, color, clarity and cut (the four factors GIA set out in the 1950s); whether there is a report from GIA, IGI or another laboratory; whether the stone is natural or laboratory-grown; the setting’s metal and weight; and whether the ring is by a known maker. Our article on how much you can sell an engagement ring for explains each one.
An insurance appraisal is a useful description of the ring, and Jewelers Mutual, an insurer, suggests getting one before selling and using it as a guideline. But it is not an offer.
How many offers to get
Two at least. Different kinds of buyer value the same ring differently: a jeweler, a diamond buyer and a consignment shop each look for different things. Two written offers show you whether the buyers were valuing the same thing, and they make the choice yours rather than the buyer’s. If you want to know which kinds of buyer suit which rings, see the best place to sell an engagement ring; for the places themselves, see where to sell a diamond engagement ring.
Mistakes people make
- Accepting the first figure. Even a fair first offer is easier to trust once you have a second.
- Taking a spoken offer. Ask for it in writing, with the stone and metal described.
- Not reading the report first. Look up the number yourself; GIA offers a Report Check on its website.
- Treating an appraisal as a price. An insurance appraisal is not an offer.
- Repairing before selling. Work done before a sale is money spent on a ring you are about to part with.
- Selling before ownership is clear. After a broken engagement, ask a lawyer if there is any doubt.
- Deciding under pressure. A good offer is still there tomorrow.
What to expect from a careful buyer
In New York City, a business that buys used jewelry must hold a Secondhand Dealer license from the Department of Consumer and Worker Protection, post it, and print its number on receipts. When you sell, it must ask for your photo ID and signature, weigh precious metal on an approved scale and tell you the troy weight, and keep a record of the sale. It cannot buy from a minor. Those rules are a fair standard to hold any buyer to, wherever you are.
After a broken engagement
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. If ownership of the ring is in question, ask a lawyer before selling. See our page on the engagement ring after a divorce.
How to sell a diamond ring that was never an engagement ring
The same decisions apply to anniversary bands, eternity rings and cocktail rings, but their value is often spread across many small stones rather than one large one. Small stones are often described as a group: how many there are, their combined weight, and their general color and clarity. A total carat weight on a receipt is the weight of all the stones together. For the detail, see how to sell a diamond ring of any kind.
Lab-grown or natural
Before you ask anyone, find out whether the stone is natural or laboratory-grown. Under the FTC’s guides, a lab-grown diamond should be clearly described with words such as laboratory-grown, because it is not a mined diamond, and a buyer will want to know which kind you have. Check what any report says. If yours is lab-grown, read the guide to selling a lab-grown diamond ring first.
When you are ready, ask privately. An independent New York buyer can make a written offer, and you never have to accept it.
Questions people ask
How do you sell a diamond ring for the first time?
Find the report or receipt if you have them, read the report yourself, ask two buyers for written offers, and decide in your own time.
Should I wait for diamond prices to rise?
No one can tell you which way prices will move. Choose a time when you can think clearly about an offer instead.
Can I ask what my ring is worth without selling it?
Yes. Asking is free and an offer does not oblige you to sell.
Is it better to sell the stone or the whole ring?
Either is possible. If you want to keep the setting, ask for an offer on the stone alone, and make sure the offer says what is being bought.