Selling your diamond ring is a great way to earn some extra cash. Whether it’s because you no longer want it, it reminds you of a past relationship or you simply need the money, it’s important to know about your ring. The more you know about the setting and the diamond itself, the more you can earn – and avoid being taken advantage of.
Know the Setting
Find out about the ring that you have. Silver, gold and platinum are all valued differently – with platinum being the highest.
If you aren’t 100 percent sure what you have, take it to a jewelry store and ask for an appraisal.
This will ensure that when you go to sell the ring, someone isn’t telling you that it’s silver when it’s actually platinum.
Learn about the history of the ring, if possible. For example, if you bought it at an auction and it actually belonged to royalty, this is going to add value to the ring.
You will need to bring documentation with you, however. No one is going to take your word that it belonged to the Queen of England unless you have the proper paperwork.
Vintage settings can be worth more because their style is a hot trend and few jewelers are using those settings any more. Any kind of documentation that you can bring to help the jeweler date the ring will be helpful.
Rings from well-known brands, such as Tiffany, can fetch better prices that non-branded rings.
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