If you want to sell an engagement ring online for a high price – and with a minimum of hassle – you need to connect to a professional online buyer like Gemesti. We’ll explain how these services work and show you how to achieve a fast and secure sale, and get money in the bank in as little as 48 hours. We’ll also look at some of the common traps and pitfalls waiting for online sellers, and offer detailed advice about how to avoid them. Read on for the ultimate guide to how to sell an engagement ring online.
Why Sell an Engagement Ring?
There are two main reasons why women (and occasionally men) decide to sell their engagement rings. The first reason is that the relationship ended and they no longer want the ring. The second is that someone is in a financial crisis and urgently needs cash. There is also a small but steady market for estate jewelry and inherited items that people don’t want to keep.
Whatever your reason for selling an engagement ring, we’ve got some great tips to get you started and ensure that you approach the sale with the right frame of mind.
3 Top Tips to sell an engagement ring after a breakup
If you’re walking away from a broken relationship, selling your engagement ring is a sensible course of action. You’re breaking your connection with the past and moving on emotionally. This is undoubtedly difficult for some women, but it is psychologically healthy and can even be cathartic. Selling an unwanted engagement ring asserts your status as a single person and allows you to make a fresh start. If you’re already in a new relationship, you should sell the old ring as quickly as possible. Keeping your old engagement ring sends very mixed messages to your current partner.
- Double check that you’re the legal owner of the ring and are free to sell it.
If your ex paid for the ring, he might want it back or try to claim a share of the money. If you were awarded the ring as part of a divorce settlement, you’re already covered legally. In any other circumstances, you may want to check before you sell. Random advice from strangers on internet forums, friends, and colleagues does not constitute legal advice. Talk to a lawyer.
- Don’t seek validation from others. You don’t have to justify selling your ring.
Once you’ve established that you’re the legal owner of your ring, it is your private property. What you do with it is your business and nobody else’s. You don’t need other people’s approval or validation to sell your old engagement ring. If you do sell, you are in the right morally and legally and should ignore any family or friends who try to criticize your decision.
- Don’t procrastinate – get it done. Bank the money and move on in life!
You may find that you have no idea where to begin when you decide to sell your engagement ring – or any item of jewelry. The process can be intimidating and there is a real danger of being ripped off. If there are also some emotional issues or regrets involved, you can easily find yourself procrastinating. Hopefully, this article on how to sell an engagement ring online will set you straight and give you a push in the right direction.
3 Top Tips to sell an engagement ring for fast cash
Selling an engagement ring because you’re broke and urgently need money is a tough call – and a lousy situation to find yourself in. It happens far more than many people realize and can be a real emotional wrench. If you are in this predicament, there are a couple of basic truths that may help you to deal with it. From the very earliest days, jewelry wasn’t just a form of decoration or a sign of social status; it was a form of portable wealth that could be quickly sold or traded in an emergency. That is exactly what you’re doing now.
The second thing to remember is that every situation is temporary – including the difficult one that you are in now. The future may be brighter and you could replace the ring you sold with a better one! If you do have to sell your engagement ring, it’s vital that you get the best possible price. It’s also important that you find a seller who will treat you respectfully and show some basic sensitivity. If you sell your engagement ring online you’ll be spared a face-to-face encounter with the buyer and the unpleasantness of being offered a low price or having to try and bargain.
- Don’t be ashamed or embarrassed by your situation.
Millions of Americans will experience financial difficulties at some point in their lives. If you take the tough decision to sell an engagement ring – which is possibly a treasured possession – you have made a positive step. You’re taking responsibility for your situation and making a sacrifice in order to move forwards. Try to overcome any emotional pain and regrets with a single-minded determination to improve your life.
- Do your homework and be sure of the value of your ring.
If you’re in a situation where every cent counts, you absolutely have to get the best possible price. You can’t afford to get ripped off and will be really miserable if you later discover that you could have got a better price for your engagement ring.
- Check original store receipts or certification.
- Look for jewelers that offer free valuations. Try and get 2 or 3 valuations but don’t accept any offers. This is important and we’ll explain why below.
- Choose a professional online buyer who can pay within 48 hours
When you’re reluctant to sell your jewelry, but need money urgently, it’s always easier to make a fast sale and just move on. An online buyer will give you a fair market price (based on the national second hand jewelry market and not the local market). They will also pay your money straight into your account as soon as the deal is closed. A professional online buyer will also be polite and sensitive and won’t try to exploit your difficult situation for a higher profit.
Selling Inherited or Estate Engagement Rings
If you inherited an engagement ring, and it doesn’t have a strong sentimental value, there’s a good chance that you’ll decide to sell it. Unwanted jewelry is unconverted cash. It’s likely that whoever bequeathed you the engagement ring would prefer you to sell it and improve your quality of life. Rather than let a ring gather dust in a drawer, it’s much better to sell it and buy something that you genuinely need. You’ll also be spared any worries about insurance and security. Some assets are simply better cashed in.
3 Top Tips to sell an inherited engagement ring
- Deal with professional buyers only.
If you want a smooth sale with a minimum fuss, you need to sell online to a pro buyer. There is little to be gained by hawking your jewelry around all the local stores – especially if the ring is vintage or antique piece. You’re unlikely to get the real market value and can easily waste half a day talking to people whose actual business model is selling. A company like Gemesti will take care of all the logistics and make a realistic offer for your engagement ring.
- Sell your jewelry as a batch.
If you inherited more than one item of jewelry, or you also have unwanted items, you can invariably get a better deal online. A local jeweler might only be interested in one or two of your items. He will expect to cherry-pick what he can easily resell. If you’re dealing with a nationwide buyer, you have a much better chance of selling the whole batch in one go. Obviously, this depends on the actual quality of your jewelry. Diamond rings, earrings, necklaces, pendants, and tennis bracelets are currently in demand.
- Be circumspect if you have family issues
Selling inherited jewelry occasionally sparks bitter family rows. It can easily provoke jealousy from other relatives or cause resentment. Even if people don’t care about the money, they may feel that the jewelry is a tangible personal connection to its former owner and should stay in the family. Your children may also have hoped to inherit an item of jewelry in turn. It’s wise to be aware of the issues and have strategies in place to deal with any negative reactions.
The advantages of Selling an Engagement Ring Online
Over 230 million Americans will buy something online in 2021. Most of us are regular online shoppers because we love the wide choice and convenience. We’re also generally very comfortable with the current level of online security. If you buy from Amazon or eBay, you expect to get a quality product at a good price. You also expect the financial transaction to be carried out smoothly and your goods to arrive quickly. This is the basic model for online shopping and it usually works flawlessly.
If you’re working with the right buyer, it’s just as easy to sell an engagement ring online. The online buying process that you already take for granted is basically reversed. You offer your ring via the company’s website, a FedEx courier collects the package, the ring is appraised and the company makes an offer. If you agree to the sale, the company transfers your money to your account.
5 Major Reasons to Sell Online
Women across the US are increasingly opting to sell their jewelry online. This is partly because we live in online culture and people are simply accustomed to doing all kinds of business over the internet. That general preference aside, there are five specific reasons why women (and a growing number of men) are consciously choosing online buyers like Gemesti.
- You get a fair market price
- The process is fast and convenient
- You have complete personal security
- You are in full control of the sales process
- You will be treated with respect and consideration
Get the best price for your engagement ring
Major online jewelry buyers have a nationwide reach and wide access to the global diamond markets. They also operate streamlined businesses that are entirely different from traditional high street jewelry chains. The relatively low operating costs create higher profit margins and allow companies to pay higher prices.
You might ask why they’d bother to pay higher prices – and not just bank the money – the simple reason is that they are competing for clients. All online businesses basically depend on positive user reviews and their reputation as good service providers. If they can’t generate a base of satisfied clients, they won’t prosper in the future.
A national company like Gemesti is able to guarantee that every seller receives an offer that is based on the actual market price of their engagement ring. This is because they use a single independent appraiser to check and value every item of jewelry that they receive. When you send your engagement ring to Gemesti they will arrange for it to be shipped for free via FedEx’s secure overnight service. It is initially delivered to the prestigious EGL US laboratory for appraisal.
A professional gemologist will carefully evaluate your ring and determine its current resale value on the national market. It doesn’t matter which state you live in, your ring will be appraised according to exactly the same criteria. Someone in Nevada or Idaho will get the same price as someone in New York or Florida for an identical ring.
Sell your ring quickly and conveniently
If you follow the instructions on Gemesti’s website, there’s a good chance that you’ll be able to close the deal and bank your money in just 48 hours. There are some useful little hacks that you can use to ensure a fast sale:
- Start the sales process during the first half of the week (avoiding any weekend delays).
- Have any relevant info to hand before you complete the short sales form.
- Arrange your FedEx pickup in time to meet the cut off for next day delivery.
- Ensure that you’re available to receive telephone calls or emails with your formal offer and final sales agreement.
The overall sales process takes a minimum of two days from start to finish. If you’re completely organized, the total amount of time you spend on arranging and managing the sale of your ring could be as little as one hour. That definitely beats driving around every jewelry store in town and bargaining with store managers.
Protect your personal security when you sell
Gemesti is an established online business accredited by the Better Business Bureau. They absolutely guarantee your personal security and privacy and also pay to protect your engagement ring from the moment it leaves your possession. The free FedEx shipment is insured up to a maximum of $100,000 giving you 100% insurance coverage. When your package arrives at the EGL US Laboratory for appraisal, it is opened on camera. This proves that your ring arrived intact and undamaged, protecting you against any subsequent damage or loss.
When you sell online, you don’t need to walk around town with a valuable item of jewelry or a cash payment in your pocket. You’ll deal briefly with a vetted FedEx employee who can come to your home or workplace. This can be particularly reassuring for elderly or vulnerable people, or anybody who lives in a place where crime is an issue. The money for your engagement ring will be wired directly to your bank account. Nobody will know that you have either jewelry or money in your home or on your person.
Control the sales process from start to finish
When you sell an engagement ring online, you have absolute control over the sales process. You can terminate the sale at any moment before the final sales agreement is signed and uploaded. It’s important to understand that although you’ve sent your engagement ring away for a professional appraisal, it’s still your personal property. If you want it back at any time, you just need to call your client services manager or send an email.
If you do break off the sales process, your client services manager will definitely want to know why, but there won’t be any hard sell or pressure to continue. Your engagement ring will be returned to you free of charge by a secure courier and the shipment will be insured. It’s certainly not unreasonable to worry about the whereabouts of a diamond engagement ring that you originally paid a few thousand dollars for. Any good buyer offers full tracking and will return your calls or emails if you ask for an update.
Be treated as a valued client
The last thing you want when you sell your engagement ring is to be treated disrespectfully. Not all jewelers are pleased to receive visits from people trying to sell unwanted jewelry and can be impatient with ‘walk-ins’. If you’re already uncomfortable about selling your ring, encountering a cold or tough attitude can make the experience even harder. Jewelers are like everybody else, even the nicest ones can have bad days. There are also sharks in the business who will drive the hardest possible bargain if they sense that you need the money urgently.
When you sell online, you’re selling remotely. There’s no face-to-face contact with the buyer and the price of your engagement ring is determined by an independent third party. The sales process works well because sellers are treated as clients who are receiving a service. Your client services manager won’t try to guess at your personal circumstances, or whether you’re likely to settle for a low price. His concern is to guide you through the sales process and make sure you get your money on time.
Sell an Engagement Ring Online Now
If you’re ready to sell an engagement ring online, you can get started right now. All you really need is a cell phone with an internet connection, an email address, some valid photo ID, and a bank account. It’s really that simple!
If you have an original store receipt, a GIA or AGS certificate, or an insurance appraisal it’s a plus, but none of these are essential. What you will need to do is complete a simple self-assessment form that asks some basic questions about your engagement ring and preferably upload some digital photos.
You’ll then get a call back with an initial offer for your ring. This offer is provisional and is based entirely on the info you provided in the form. The more accurate your information, the closer the offer will be to the ring’s actual market value. If you want to proceed, Gemesti will provide free FedEx shipping for your ring.
The ring will be sent overnight to the EGL US Lab for an independent gemologist’s appraisal. This report will be used to calculate the exact market value of your engagement ring. Your client services manager will quickly get back to you with a formal offer. If you accept, all you have to do is upload a signed sales agreement and other required documentation. Your money will be wired to your account that day.
Over 90% of Gemesti clients are happy to accept their final offer and get their money the same day. The only way you are likely to get a higher price and a better service is if you have personal connections in the jewelry industry. Selling your engagement ring online, particularly if you are in a small town or rural state, is definitely the way ahead. If you have a busy life, it’s a lot easier to fill out an online form and coordinate with a FedEx courier than to cold call a list of local jewelers!