One Mom's Moxie: Steps to Selling a Diamond Ring

Monday, August 31, 2015

Steps to Selling a Diamond Ring

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A scene in "Gone With the Wind" depicts a newly married Melanie, then Scarlett removing wedding bands from their left hand finger and placing them in a collection plate as it's being passed in support of their region's war effort. Melanie's contribution was heartfelt, but with a mere toss into the basket, it was obvious Scarlett didn't attach any deep emotions to her ring. Although the reason you have for relinquishing your diamond ring may not be as dramatic, the item still holds value that you want, or need, to recoup. 

Determine Value
If your diamond has never been appraised, you may think it's worth more than it actually is. On the flip side, you may be pleasantly surprised and learn the diamond handed down for generations is worth more than you could've conceivably imagined. For an accurate appraisal, and to instill confidence in potential buyers, find a gemologist certified by the Gemology Institute of America (GIA). GIA certification ensures trust in your jewelry's appraisal. Once your appraisal is complete, team up with a market expert to get the best price according to market trends at the time and in your area.

The Brokerage Route
Brokerage professionals help you through each step in selling your diamonds. Unlike a pawn shop, you retain full ownership of your diamond ring until it's sold and you don't have to settle on the offered price. The brokerage company is concerned only with helping you sell your diamonds. They put you in contact with a group of buyers interested in purchasing diamonds, and then it's entirely up to you what offers may be viable and the one you ultimately choose as the final purchase price.

The decision to sell a diamond ring is a personal one. It may hold strong emotional ties, but additional funds are necessary, or the diamond ring may hold memories best surrendered. Whatever the reason, the resolve to sell could cause anxiety. To lessen your unease, do your research and choose a brokerage company with a solid reputation and record of success. It's even possible to complete the process entirely online with a company such as Diamond Lighthouse at https://www.diamondlighthouse.com/best-way-to-sell-diamond-ring.