How Can I Sell My Diamond Ring?
Whether you want to sell a diamond ring to purchase a new car or want to part ways with an engagement ring to help fund a personal loan, there are plenty of ways you can sell a diamond ring in the UK. The most common methods are through pawn brokers, however, this can lead to underpriced transactions. Instead, opting for a reputable diamond retailer will ensure you receive the best price for your diamond ring.
Where to Sell Diamond Rings
As mentioned above, you can sell your diamond to a pawnbroker. However, it is much wiser to find a credible diamond retailer so that a thorough diamond appraisal can be made. In London, the most famous place to sell or buy diamonds is Hatton Garden. This is the leading area for diamond trade in the UK.
To find out where to sell a diamond ring online, read our guide here. It is important to find a website that is secure, credible and one with good customer reviews.
Can I Sell My Diamond Ring Online?
Yes, many people choose to sell their diamond rings online! It’s fast, secure and convenient. Yet, you will need to spend some time researching online diamond buyers beforehand. There are many diamond retailers who offer online purchasing, which allows people to send their diamond rings via post. These platforms are often very straightforward and user-friendly, allowing interested parties to sell their diamonds with ease.
Can I Sell My Diamond Ring Privately?
Some people do choose to sell their diamond rings privately. The main benefit of opting to sell your diamond ring independently is that you can manage the sale on your own terms. Nevertheless, the most common downfall is that people might not want to purchase a second-hand diamond for a great price. Likewise, it might take you longer to sell your diamond ring this way and could result in scams.
By opting for a diamond retailer, you will guarantee a fair price, because it will be evaluated by a professional. Moreover, the payment will be faster when selling to a registered jewellery retailer.
How Much Is My Diamond Ring Worth?
Each diamond is different. But, the 4 Cs will determine the overall value of a diamond. When getting a diamond appraisal, a geologist will check the colour against a grading chart, the clarity against a clarity scale, the carat weight and the type of diamond cut. All of these factors will help in deciding the real value of any diamond.
Find out with YL Diamonds how to value your diamond ring here.
Diamond Ring Colour
The clearer a diamond is, the more valuable it is. But, there are colours (such as red and blue) which are highly valuable and rare. This is one of the easiest ways to know your diamond’s worth. You can check this yourself by comparing it to a diamond grading chart.
Diamond Ring Clarity
Does your diamond ring have any internal flaws or blemishes? A diamond retailer will check this by using a specialist magnification tool. However, it is common for diamonds to have some kind of flaw or blemish – so, don’t worry!
Diamond Ring Carat (Weight)
A diamond’s carat weight can only be measured by a special diamond scale that measures small weights. One carat is ⅕ of a gram and is divided into 100 points. A diamond’s carat weight will help reflect its value and rarity.
Diamond Ring Cut
There are plenty of different types of diamond cuts, with the most expensive type being the round brilliant as it removes about 60% of the rough stone around the diamond. Some other common cuts include the princess cut, emerald cut and cushion cut.
Can I Sell a Diamond Ring Without Its Certificate?
Having your diamond certificate will certainly help during the diamond appraisal. However, it is still possible to sell a diamond ring without its original certificate. Choosing a reputable and experienced diamond retailer will ensure you are given the fairest evaluation and price for your diamond ring – whether you choose to sell it online or in person!
