5 Simple Steps to Selling Your Diamond Ring

Your diamond rings and precious jewelry can hold significant value, both financial and sentimental. In some cases, however, they might not be worth holding on to—you may be feeling ready to clean out your jewelry box and make a fresh start.

Whether you're debating selling or just don't know where to begin with the process, you've come to the right place. Check out this guide with tips on deciding when to sell your diamond ring and 5 steps to a smooth selling experience.

How Do I Know When It's Time to Sell My Diamond Ring?

Moving on from your precious jewelry is a difficult decision. Let's take a look at some factors that could help you decide whether or not to sell your diamond ring.

• Seldom-used jewelry sometimes isn't worth keeping around if it has no sentimental value. If you haven’t worn your ring in over 6 months, it may be better to turn it into cash instead of letting it collect dust on top of your dresser.
• Pay attention to market trends—high diamond and gold prices or diamond shortages will allow you to get a higher payout for your piece. Professional jewelers and gemologists can help you determine if it's a good time to sell your diamond ring or not.
• Maybe you still love your jewelry but want a little more bling. If you're looking to upgrade to a bigger or higher-quality diamond, selling is a good option. Some jewelry stores offer an upgrading program that allows you to sell your diamond and put the payment towards a new stone in one process.
• Sometimes you just want to be a little more liquid. If you feel okay about parting with your ring and are in need of cash, selling could be a beneficial route.

In the end, if your jewelry is still important to you and holds high sentimental value, it's okay to hang on to it, even if it meets some of the above criteria. Your memories are more priceless than any precious pieces.

How Do I Sell My Diamond Ring?

If you've decided selling is the way to go, get started on these 5 simple steps.

1. Know Your 3 C's

Understanding the 3 C's of your diamond will help you to know its value and therefore, ensure you're getting a fair price.

• Cut: The cut of a diamond affects its brilliance and sparkle; a well-cut diamond reflects light beautifully, enhancing its overall appearance.
• Carat: Carat refers to the weight of the diamond; larger carat sizes typically indicate a more valuable stone.
• Clarity: Clarity measures the presence of internal flaws or inclusions; diamonds with fewer imperfections are generally more desirable and valuable.

A fourth C is considered sometimes: color, This is also important to take into account when determining the value of your diamond, but it may not be included in all evaluations. When you're unsure about how your diamond ranks with the C's, an appraisal from a gemologist or the certificate for your diamond can help.

2. Find Your Diamond's Certificate

Certificates provide a verified assessment of your diamond's characteristics, including the 3 C's. This authentication assures potential buyers of the gem's quality and value, facilitating a smoother and more transparent transaction.

3. Schedule an Appointment with a Jeweler

After gathering everything together, find a trustworthy, experienced jeweler who buys diamonds and schedule an appointment with them to sell your diamond ring.

4. Get an Appraisal

One of the most difficult aspects of selling jewelry or diamonds can be making sure you get a good deal—understanding your piece's true worth is hard if you're not an expert in fine jewelry.

That's why it's so important to consult someone who is: Make sure your jewelry store includes a thorough, professional appraisal as part of the selling process so you'll know you're not getting hustled.

5. Negotiate a Price

Now that you know your gem's value and the 3 C's, it's time to negotiate a price. Discuss this confidentially with your jeweler and don't feel rushed or pressured to decide if you're not ready yet or not happy with the price. Take various factors into consideration and consider getting bids from multiple buyers.

Sell to Someone You Can Trust, Sell to Solomon Brothers

At Solomon Brothers Jewelers, we've been buying diamonds for over 40 years, and we take pride in offering you a seamless, stress-free experience when you sell your diamond ring. Our certified gemologists are experts at what they do—you can rest easy knowing they'll handle your piece with care and provide an honest and thorough assessment of your diamond's value.

If selling isn't what you're after right now, we also upgrade diamonds and recreate older pieces—whatever your goal is with your jewelry, Solomon Brothers can help. Ready to upgrade, update, or sell? Schedule an appointment—we'd love to help.