Diamond Rings

Diamond Rings: Selling A Diamond Ring

The first thing that you would need to do is to have the ring evaluated yourself. The most unbiased report that you could get would be from a certified, independent gemmology appraiser. An appraiser in a jeweller’s shop will favour his employer, and the jeweller would naturally offer you the lowest price possible, looking for a profit himself. Independent appraisers have a laboratory with gem testing equipment. After testing the four Cs - carat, colour, clarity and cut, you would be given a detailed appraisal report and a certificate for the diamond. (This is always welcome to a buyer.) The appraiser will also test the setting of the ring to ascertain the purity of the gold or platinum. Depending on the styles in fashion presently and the quality of the diamond and setting, the appraiser would then put a value to the ring.

Diamond Rings – Finding A Place To Sell

The next step would be to determine how to sell it. The perfect situation would be to find that someone who truly loves the ring and is willing to pay what it is worth – but how does one find that person? The place to start is among family and friends – pass the word around. These are some of the best sales – private, simple and usually the buyer and seller are both satisfied.

Then, there are the classified advertisements. If the buyer is interested, then a meeting takes place and the ring is examined. The appraiser's certificate is of value here and a decision is possibly reached. The online classifieds site, www.craigslist.com is another option with a larger audience. Well-taken photographs would help buyers decide if they want a closer look.

There are also the auction houses. Of course, if the ring is antique or worth a substantial amount, then one of the larger auction houses, Sotheby's or Christie's becomes an option. An online auction site, www.ebay.com is also an option. You can put pictures of the ring on the site and there is a good security arrangement between the buyer and the seller.

Another interesting online site is www.idonowidont.com – started by Joshua Opperman and his sister, Mara. Joshua bought a beautiful engagement ring for his fiancée, using most of his savings, only to have her change her mind a few months later. Realizing from experience how difficult it is to re-sell a ring, he conceived the idea of an online auction house dedicated to the re-sale of jewellery. The authentication process on the website makes the sale secure, good photographs, proper certificates arouse interest in the buyer and the site encourages you to tell the story of your jewellery, which adds a personal feel to the proceedings.

Diamond Rings – Making The Sale

Auction houses and online auction sites are a fairly safe way in which to make the final transaction, but if you do sell your ring to a stranger that you are personally meeting, a few precautions are in order.

Hold the meeting in a safe and public place, take a companion with you if possible and take the money in a legitimate form of payment - a bank draft for example as cheques can bounce. The value that the appraiser puts on your ring may not be the price that is offered to you. After all, the ring you are selling is, in a sense "second-hand", and if the price quoted is the going rate, then the buyer could walk into a store and choose from a vast selection for the same price. So if you get between 60% - 80% of the value put on your diamond by the appraiser, you can consider that a good price. Or someone could fall in love with your ring and you may even get more than you expected.