How to sell my engagement ring for the most money
An engagement ring is very precious to people when they first get married. It is a symbol of commitment and love. But over the years, its importance is lost to some and it becomes just another jewelry items. There are many reasons why people sell it off a few years later. It could just be lying around at the bottom of the jewelry box or they simply need more money. Some of course sell it after their divorce or after being widowed. Whatever the reason may be, you can sell your engagement ring and earn some money off it. There usually is some sentimental value attached to it but when you feel the time is right there is nothing wrong with selling it.
Factors that determine price
It is very important to know the worth of your engagement ring before you sell it. Even if you bought it ages ago, you should know its current value before finding the best possible dealer or buyer. Here are some factors that help determine the price:
When you sell your engagement ring, the buyer might want the grading report, also called certificate from a reliable gemological lab. It provides you with a scientific blueprint of the diamond’s properties and attests to its authenticity. Each lab uses its own grading system, so the results vary. GIA (the Gemological Institute of America), AGS (American Gemological Society), EGL (European Gemological Laboratory) and IGI (International Gemological Institute) are 4 of the major gemological labs in the world. Though all of these fluctuate in their accuracy and grading systems, the most reputable out of them all is GIA.
You should know what metal your ring is made of. Is it made of white gold or yellow gold? Platinum or palladium? Or a newer metal like titanium or tungsten? The purity and rarity of the metal determines its value.
The quality of diamonds plays a major role when you sell your engagement ring. It can be assessed by grading the 4C’s:
- Cut- it is a grading of how well the diamond has been cut and polished from its rough state to the end product.
- Color- the color of diamonds lies somewhere on a scale from pure white to yellow. The closer to white a diamond is, the rarer it is, and therefore more expensive.
- Clarity- it is a measure of the number of impurities that a diamond contains. These tiny flaws can only be seen under a microscope, but they do affect the price of the diamond. the purer the diamond is the more expensive it will be.
- Carat- The weight of a diamond majorly influences its price. A diamond that weighs more will command a higher price to it than a lighter diamond.
If you find yourself asking that question, then you have a few options to choose from.
- Pawn shop: People tend to sell their rings to pawn shops for quick cash. It’s a successful business model for shop owners because they are able to buy engagement rings at cheaper prices and make a decent profit as their purchasing price is well below retail and wholesale. However, this means that you are likely to lose more money if you choose to sell your engagement ring this way. People who sell their jewelry to a pawn shop are likely to receive thirty to sixty percent of the item’s real value. There are more profitable alternatives to pawn shops if you’re ready to wait a few days for a better return.
- Jewelry store: Selling your engagement ring to a jewelry store owner might help you reach out to a wider range of potential buyers. Since they already deal in jewelry, they will give you a decent price for your ring but will charge you a high commission rate. Moreover, not every jewelry store buys second hand jewelry. If they do, then at times they offer store credit in return, which might not be the best option for you. They also may offer consignment which may offer a higher payout but will likely take months, especially if your ring is older.
- Vasco Assets: A private international financial firm based in Newport Beach, CA Vasco Assets deals in luxury assets like watches, precious metals, diamonds, jewelry and more… They have access to a global marketplace so can help you get the best possible deal on your engagement ring. Vasco Assets values the customer’s time by having their international network of buyers at the ready. So if you are looking to sell your engagement ring reach out to Vasco and take advantage of their network of buyers so and receive highest price for your ring.
About Vasco Assets:
Vasco Assets is a private licensed, fully insured, and bonded financial firm with business interests worldwide, specializing in luxury commodity assets. Located in Newport Beach, CA, Vasco Assets provides Financial Flexibility and Security by buying and lending against luxury assets, unlocking the inherent value and converting the assets to funds, offering a variety of innovative collateral loan programs to both individuals and businesses. Vasco also provides Access to Luxury by making luxury available to their clients well below wholesale and manufacturing by virtue of diamond production in India and Israel, jewelry manufacturing in Los Angeles and worldwide networks. Vasco offers programs to Build and Maintain Wealth, through diamond commodity investment programs, taking advantage of the hedge opportunities inherent in commodities. By virtue of their diamond production, these investment grade stones are offered at commodity pricing, eliminating the mark-ups of wholesale and retail pricing.
For more information or to inquire about any of Vasco Assets’ high-value services, please call 855.285.7059 or email email@example.com