Parting ways from your diamond ring can be overwhelming and
emotional. The circumstances leading to this might be painful and you would not
want to go through a tedious and challenging process to sell your diamond ring.
There are now dedicated companies working to make this experience pleasant and
with a positive outcome. One of these companies is iValueLab.
How Much is It Worth?
The essential thing that you need to consider when you want to sell
diamond ring for cash is to minimize the loss. One thing you need to understand
is that you will never recover what you paid. In general, you might be able to
receive 20% of the original value to maybe 50% on rare occasions but obviously
the amount also depends on the jewelry itself and the current market conditions.
There are various places you can consider, and each place might offer you a
different value. There is no formula according to which they decide the value
of the diamond ring. They use the details about the diamond and the selling
price of similar options to determine the price they want to offer you.
Determining the Value.
There are certain things that are taken into consideration when
making an offer for your diamond ring.
- Place of Purchase:
You must understand that retail stores have a very high markup some stores
more than others. You will pay more than the actual market value of the
item as they will add the cost of labor, brand name and any other
overhead charges.
They themselves purchase the diamonds from wholesalers after which they add a markup and then sell it to you. Therefore, when you step into the market to re-sell your diamond, the buyers would like to purchase it at a price even lower than wholesale.
- The
Diamond: The harsh reality is that your center diamond is what carries the most value. So, you will receive your
offers based on the diamond alone. The focus will be on the details of the
diamond which are:
·
Carat weight
·
Color of the diamond,
·
Clarity/Quality of the diamond and,
·
Cut/Shape of the diamond.
There are more details that a professional diamond buyer will
consider, and you can find that information on your diamond certificate as
well. It is always a good idea to ask your buyer to explain the reason for the
price they have offered.
- The Brand:
Items of Luxurious brands like Cartier or Tiffany & Co. can get you
higher offers. As they are the most sought-after brands. Even if you want
to sell
your old rings, pieces from these brands are usually always in
style. And the buyer can receive a much higher amount from the next buyer.
- Ring Setting:
Unfortunately, the setting will not bring you back any good amount of
cash. As the buyers might just want to melt it for the gold. When you
purchase it you pay for the labor and for the markup. So, the center diamond is what determines the value, and the setting might be just for a
couple hundred bucks.
- Appraisal Value:
Don't get yourself confused between the appraisal value and resale value.
The appraisal value or the replacement value mentioned on your jewelry
appraisal is usually the amount that you would have to pay to replace your
item. It is in no way the market value of your piece. When you are looking
to sell your unwanted rings do not expect to receive the amount mentioned
on the appraisal. It is a very unrealistic expectation and will only lead
to disappointment.
Having discussed all the points to determine your ring's value now
you just need to find the best place to sell it. And at present online
professional diamond buyers are the most popular and reliable option. You
deserve the best offers, and you can get that at iValueLab. When selling to
them you will eliminate any service charges or any kind of fee. You will get
the most professional customer service, a smooth and positive experience.
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