How Do I Get the Most Money for My Diamond Ring?
Want to sell your diamond ring for the most money but need help knowing where to begin? This article explores how you can sell your diamond rings, whether an engagement, promise or inherited diamond ring for the most money. Whether you want to part ways with a pre-loved diamond ring but want to make sure you get what its worth, or perhaps you need to make some extra cash to pay towards a bill – whatever reason, find out below how you can sell your diamond ring in the UK for the most money possible today.
How to Sell Your Diamond Ring for the Highest Price
Though you can sell your diamond ring quickly in the UK through many selling options, not all will provide you with the highest possible price. So, if the price is something you’re not happy sacrificing, follow the steps below.
1. Know Your Diamond Ring’s Value
The first step is very important if you want to sell your diamond ring for the best possible price. Firstly, how much is your diamond ring actually worth? Knowing the value of your diamond ring can help you during the selling process. Going into it blindly could result in you losing out on hundreds, or potentially thousands, of pounds.
You will need to consider the 4 Cs (a set of criteria used in the world of diamonds to understand the value of a diamond). The 4 Cs are as follows:
- Cut: What shape is your diamond? For instance, round diamonds in comparison to square diamonds tend to be higher in price. Once you understand the shape of your diamond, do some research online to know whether it is sought-after.
- Colour: What colour is your diamond? The whiter the diamond, the higher in price. Nonetheless, blue diamonds are still expensive. Take a look at a diamond colour pricing chart online to find out more.
- Clarity: How flawless is the diamond? How does light reflect through it and sparkle? The better condition of a diamond, generally the higher in price it will be.
- Carat: Last, but not least, how many carats are there?
2. Research Diamond Ring Selling Options
Once you have gathered all of the necessary information for your diamond ring, alongside its original documents if it has any, you need to research the selling options you have. Below, find some of the most common options for selling your diamond ring:
- Pawnshops
- Auctions (online or in-person)
- Local jewellery stores
- Diamond wholesalers like YL Diamonds
However, not all of the above are great for getting the highest price. Read our blog ‘Where Should I Sell My Diamond Jewellery’ to see why a diamond wholesaler will get you the most for your diamond ring.
3. Get a Free Diamond Ring Appraisal
Next, opt for a free appraisal for your diamond ring. This way, you’ll get a better understanding as to how much your diamond ring is truly worth. You can get a free appraisal at many stores in-person in the UK, whether you live in London, Manchester or perhaps even Bristol. A free appraisal can help you get a better estimate of how much you could, and should, sell your pre-loved diamond ring for.
4. Sell Your Diamond Ring!
Once you know your diamond’s value, what it could sell for and where you’d like to sell it to – sell! If you’re opting for a diamond wholesaler (which, is usually the best place to go for the highest price) then you need to decide specifically where to go. Fortunately, you can see if a company is reputable by reading reviews, researching the company online or even by visiting.
Following this, you’ll need to decide whether you’d like to sell your diamond ring in person or online. This won’t have an effect on the overall price of your diamond ring – but, it could save you a few pennies in transport if you live far from London, for example.
For more tips about how to sell your diamond jewellery, visit YL Diamond’s blog. Alternatively, get in contact with us today to get your diamond valued properly. Likewise, YL Diamonds will buy your diamond ring for the best possible price no matter where you are based in the UK.
