Planning To Sell Your Engagement Ring At The Best Price? Here’s How

August 11, 2015 News

Have you experienced a breakup recently? In case you do, then one of the best ways to get over the bad phase is to sell off your engagement ring. If you haven’t sold used jewelry before, then you are likely to face a tough time at the initial stage. You are not likely you know exact place to sell, how much to charge and how to go forward with a deal. Here are some steps that you should follow to get the best price for your engagement ring:-

Have a Clear Idea of Existing State Laws

As per existing laws, state laws don’t agree about the ownership of the ring in case there is a broken engagement. There are cases when the ring is regarded as the asset of the individual who has received it. However, there are cases when it is regarded as a confidential gift and should be given back to the person who gifted it. This is also a problem if there is a divorce, as the ring might be regarded as a property by both parties. To know more about the legal aspects related to the selling of your ring, get in touch with an attorney who has good knowledge of laws within your state.

Planning To Sell Your Engagement Ring At The Best Price? Here’s How

How to Go Forward with the Selling Process?

There are numerous avenues that you can use to reach out to couples and individuals who want to acquire a engagement ring. In case you are selling to a person, then you may have to print a classified ad in the local newspaper. The ad should present valuable details about carat size, type of materials used as well as the ring’s condition. Also, make it a point to include the selling price and your contact details.You will have to spend some money for this purpose.

You can also make use of websites to place ads for free. Apart from the details that you would include in a newspaper ad, you will also need to include a few pictures of the ring. Ensure that the pictures that you share show its present condition. You can also consider selling your ring on an online auction site. To do so, you will need to create a sales account, put a picture of your piece, create a listing and observe bids from time to time.

Selling the Ring to a Jeweler

In case the ring is quite new, you can return it to a jewelry store to get a full refund. However, don’t do so at the place from where it was brought since you will be losing your money in the process. All jewelry stores don’t deal in pre-owned rings, enquire about the ones that do. Approach independent jewelers instead of chain stores for this purpose.

Tips to Set a Price

To get a fair idea of the exact worth of your jewelry piece, get in touch with a appraisal professional. Also, observe the sites and classified ads have a clear idea about how similar rings are priced. Avoid comparing new rings, as they usually fetch a much lesser selling price. Price your ring in a way to compete with existing options.