The best places to sell engagement rings in Atlanta are a cluster of jewelry stores in the Buckhead district (mainly close to Peachtree Road/ T.Harvey Mathis Pkwy junction). If Buckhead isn’t convenient for you, check out the jewelers in Downtown and Midtown. If you’re selling an engagement ring with a diamond center stone in the 0.5-carat range, you can try any local neighborhood jewelry store.
Atlanta has almost half a million residents and the wider Atlanta Metropolitan Area contains almost six million people. You’d expect such a thriving modern city to have it’s own diamond district or jewelry quarter, but it’s not the case. Atlanta does have its share of prestigious jewelry stores and workshops offering skilled custom design, but there isn’t really a tradition of fine jewelry on the scale of New York or LA.
The second-hand jewelry market in Atlanta is divided between the city’s pawn stores and its jewelry stores. Jewelers usually offer more money than pawnbrokers, but both drive a very hard bargain. There are few places to sell engagement rings in Atlanta if you’re holding out for a high price. We’ll give you the rundown on the used jewelry market in Atlanta, and explain the pros and cons of trying to sell a diamond engagement ring in Georgia. We’ll also take a look at some of the popular online options for independent sellers, as well as some of the less well-known ways to sell an engagement or wedding ring online.
How to Sell an Engagement Ring in Atlanta
It’s always been a big challenge to sell a used engagement ring for a high price. It’s not that used diamonds really lose their value, just that the prices that you see in the store display cabinets are inflated. When you sell a second-hand engagement ring in Atlanta, you are basically competing with the jewelry store owner’s supplier. This might sound strange at first, but it’s just basic economics.
When Atlanta jewelers buy their stock (the engagement and wedding ring that you see in the store) they can tap into nationwide supply chains. A supplier can offer a jeweler a range of rings – or diamond earrings, necklaces, pendants and tennis bracelets – on a sale or return basis. The way it usually works is that the jeweler provides some financial and business references, and then signs an agreement to take a batch of jewelry on a three-month consignment.
If the jeweler sells the merchandise, the supplier gets paid the agreed price. If the jeweler can’t sell any of the items, they are simply returned to the supplier. When you sell a second-hand engagement ring to an Atlanta jeweler, you’re potentially competing with suppliers in New York – or even in Antwerp or Israel. You’ll have to match the suppliers’ price range and compensate the jeweler for the lack of a sale or return deal.
When you’re looking for places to sell engagement rings in Atlanta, try calling jewelers and ask if they’d be willing to take your engagement ring on consignment.
If you don’t need the money urgently, it may be your best option. All you have to do is find a jeweler who you trust and agree to a minimum price. The jeweler then displays your ring in the store (and on their website) and tries to sell it for a higher price. The difference between the two prices represents the jeweler’s profit.
The only problem with this kind of deal is that a dishonest jeweler might swap your diamond for a lower quality stone, or even a fake.
Choose a reputable, established jeweler who you trustDraw up a clear sales agreement with the jewelerInclude a copy of any certification in the agreementCheck whether your diamond has a GIA certificate number etched on the girdle. Photograph the ring and diamond from every angle
Get the Best Price for an Engagement Ring in Atlanta
Once you’ve identified the best places to sell engagement rings in Atlanta, you need to work on your sales strategy. That might sound like a grandiose term for a quick one-time sale, but you could save yourself time, money and disappointment. It pays to plan and decide in advance how you’ll approach jewelers when you decide to sell your engagement ring.
Atlanta Jewelry Sellers Checklist
- Know the market value of your engagement ring and set a minimum price that you won’t compromise on.
- Find a neighborhood like Buckhead with plenty of jewelry stores in close proximity. Be ready to almost canvass the stores and see if there is any significant variation in offers.
- Identify a few isolated stores with no close competitors that you can visit enroute. They might be more open to doing business.
- Choose a time when stores are likely to be quiet – you don’t want to distract jewelers away from paying customers.
- Approach each jeweler confidently and show them that you know what you’re talking about. You’re a seller now – so think about how sales staff have spoken to you in the past. Copy any good sales techniques and use your charm.
You have two great strengths when you try to negotiate a high price for your engagement ring in Atlanta. The first is a clear idea of how much your ring is worth to the jeweler. The second is a willingness to walk away if you don’t like a final offer. You’ll be surprised how many jewelers will call you back and offer another 50 bucks, or even a hundred to their ‘absolute final offer’. If they don’t call you back, you’ve lost nothing.
There might be a jeweler two blocks down Peachtree Road who’s ready to make a slightly better offer. One thing to remember is that the tougher the bargaining gets, the more friendly and polite you need to be. When you’re pushing someone to get a high cash price for an engagement ring, you don’t want to anger or alienate them. Don’t be insulted when you receive low offers, or if you catch a jeweler in a lie about diamond prices or the local Atlanta second hand jewelry market. It’s all just a ritual game. The goal is for everyone to go home happy.
Sell an Engagement Ring Online in Atlanta
If you’re not impressed by the choice of places to sell engagement rings in Atlanta, it’s time to look online. There are several online options that cover both the Atlanta Metropolitan Area and Georgia (millions of potential buyers) and the entire Continental United States (hundreds of millions of potential buyers). You can also go directly to a professional online diamond buyer like Gemesti and save yourself a lot of time and inconvenience.
There are three main options if you want to sell an engagement ring online in Atlanta:
Craiglist gives you great localization – and you may even find potential buyers within a few miles of your home. The disadvantages are that you’ll have to arrange the online listing, viewings, and a sale yourself. It can take time to close a deal (sometimes months) and there are some very real security issues when you sell an engagement ring on Craigslist. The bottom line is that you’ll have to meet with strangers in a public place, let them try on the ring, and pay cash for it. In a city like Atlanta, that can be exceptionally dangerous.
eBay is safer than Craigslist, but you’ll be competing directly with professional jewelers who publish professionally designed listings. Like Craigslist, eBay also creates a lot of administrative hassles. You’ve got to process the payments, arrange shipping and consider a returns policy. It’s rarer, but you can still get ripped off on eBay – especially when there is diamond jewelry involved.
Get a High Price for an Engagement Ring Online
Gemesti is a nationwide online service that specializes in buying used engagement rings and other diamond jewelry. They use free FedEx shipping to bring rings to the independent EGL Laboratory for appraisal. A professional gemologist examines each ring to determine its real market value and emails a report to Gemesti. This means that every engagement ring (or loose diamond) is evaluated to a national standard and the price is completely fair.
If you decide to sell an engagement ring to Gemesti, you can complete the entire process and bank your money in as little as 48 hours. It might take a little longer during the holidays, but the service is still incredibly fast. You can begin the 5 Stage process right now:
- Take a couple of minutes to fill out the simple online form
- Get a call back from a client services manager with a provisional offer
- Get free FedEx shipping to send your ring for an independent appraisal
- Get a second callback with a formal cash offer
- Upload a signed sales agreement and get paid straight to your bank account
There are several advantages when you sell an engagement ring online to Gemesti. The first is that you only deal with a single person – your client services manager. The second advantage is that you’ll be treated with respect and guided through the sales process. It’s entirely transparent and you can ask for your ring to be returned (for free) at any time. You’ll get a national market price for your engagement ring and the money will be wired to you the same day. Gemesti is fast, convenient – and completely secure and discreet.
If you want to know more about why Atlanta residents are opting to sell unwanted engagement rings and other jewelry to Gemesti, check out their Facebook page.
Is there a best time of year to sell my engagement ring in Atlanta?
No, jewelers and pawn stores in Atlanta buy all year round. Demand for engagement rings does go up in the month before Valentine’s Day (14th February) and the summer wedding season. Christmas and New Year also see a spike in demand. If you sell outside these key periods, some store owners will try and tell you that demand has dropped and prices are lower. This is just a bargaining tactic and you should ignore it. Prices stay fairly constant throughout the year.
Should I try to sell my engagement ring outside Atlanta?
You’re unlikely to get a better price anywhere in the State of Georgia, or in neighboring states. Some sellers will wait until they travel out of state on business or for a vacation and then try to sell an engagement ring. Even if you spend a day in the diamond district in Manhattan, you probably won’t get a significantly higher price. The New York jewelers are just as tough – and a lot less polite. They have even better access to major suppliers. Their attitude is “This is the price – take it or leave it”.
Has the COVID-19 Pandemic affected used jewelry prices in Atlanta?
No, all our research shows that it’s business as normal. There was actually an increase in sales during the lockdowns as more people decided to get engaged. We also saw an unexpected phenomenon of Atlanta residents buying jewelry with government checks! The COVID-19 pandemic certainly caused some fluctuations in the jewelry market in 2020 and 2021, but no major upheavals. Don’t be fooled by any speeches about how the lockdowns have knocked the bottom out of the second-hand jewelry market and slashed prices – they haven’t!
Do Atlanta Pawn Stores Pay Cash for Engagement Rings?
Atlanta pawn stores love to pay cash for engagement rings. The problem is that they will aim to give you less than 30% of the real value of your jewelry. Pawnbrokers are adept at weighing up customers and making the lowest possible offer. They’re used to dealing with a fairly unsophisticated clientele who need money urgently. If an Atlanta pawn store manager is ready to pay cash for an item like an engagement ring, you can guarantee that he expects to make a fast 50 – 100% markup.