Last Updated on September 1, 2023 by Lori Pace
Maybe you’re ready to sell your wedding ring after a split or divorce. Or maybe you just need the cash. Whatever the reason, there are great places to sell your wedding (or engagement) rings, and maybe you will find a good reason for a divorce ring instead? So, there are reputable, transparent and trustworthy buyers who will pay the best rates.
Where Can You Sell Your Wedding Rings For The Most Money?
Worthy.com is an online marketplace that allows you to sell your ring for at least half the price of its center diamond. This will allow you to make more money than the original asking price. Worthy is a BBB-rated company with an A+ rating. They insure up to $100,000. Get a free GIA laboratory report and an estimate from Worthy.com.
Perhaps you have an alternative wedding ring or an engagement ring that is less than $1,000. We recommend selling a platinum or gold wedding band or an engagement ring with a smaller gemstone to CashforGoldUSA.
You Have Several Options To Sell Your Wedding Rings Online
- Local jeweler or diamond exchange
- Local cash for gold/silver/diamond store
- Local pawn shops
- Jewelry auctions
- Consignment shops
- Marketplaces like Etsy and eBay
- Professional online ring buyers like Worthy.com and CashforGoldUSA.com — the best way to get the most money for your engagement ring
What Is The Best Way To Sell An Engagement Ring?
Selling to an online buyer will give you the best chance at getting the highest possible price for your jewelry. Online buyers are more competitive and can offer trustworthy, honest service. There are many local jewelers who are qualified, but there are fewer of them in each area. Selling your engagement ring online or any other jewelry means that you don’t need to travel, bargain with a jeweler, or go through all the hassle.
What You Should Do Before Selling Your Wedding Rings
1. Gather all the information you have about your engagement ring
Get the GIA or other lab report, the box, receipt, and any documentation of the size and quality of the stones and metal. This information will help you prove the authenticity of your product.
2. Get an appraisal of your ring and diamond
It is crucial to know what your ring’s value is on the resale marketplace. This includes the weight and grade of the stones as well as the setting. These details will be documented in a quality jewelry appraise or laboratory report.
3. Get offers from some of the top online ring buyers
This includes Worthy (for engagement rings with larger stones) and CashforGoldUSA.com (for wedding rings and engagement rings with small stones). Just share some basic information with the seller either online or on the phone, then they will make an estimate. From there, a quality online buyer will send a free FedEx, UPS or USPS mailer that includes insurance, and you should be able to track your item all the way to the buyer, through their specific selling process.
Sell Your Wedding Rings On Worthy.com
If your ring is worth $1,000 more , it’s best to sell it on Worthy.com. The same applies if you are selling a wedding ring. Worthy will help you sell your ring, plus any other fine jewelry.
Worthy.com is an online auction, so you will get multiple vetted bids on your jewelry — which typically drives up the sales price. You can send in your jewelry with a free, 100% trackable FedEx mailer. Your ring is video recorded from the moment it enters the Worthy NYC offices, and insured up to $100,000.
Each seller receives a free GIA certified lab report — the only way to get a fully accurate appraisal and resale price estimate. You will also have full control of the auction minimum sale price. Additionally, you can get paid within 24 hours of the sale close.
How To Sell Your Wedding Rings Online To Worthy.com
- Go to Worthy.com. Then Enter your name and email, along with basic information (diamond color, carat weight, clarity, etc.) about your jewelry, including size and grade of your jewelry or stone.
- Right away, you will receive an estimate of the market value of your piece. The entire process takes approximately 2 minutes.
- A friendly customer service representative will call to answer your questions and let you know what’s next.
- Send your item. Worthy will ship your item to you the next day if the price is right for you. Sometimes, even the same day. It was amazing! You can send your jewelry, watch, or diamond to Worthy. They will pay for shipping costs and insure the item up to $1,000,000. Sweet!
- You can agree on a “reserve” price, or the lowest price that you are willing to pay.
- The item will be auctioned. Worthy will place your jewelry in front of at least 100 potential buyers around the world, who can then bid on it.
- Within 7 days of receiving your item, you will receive an offer.
- Get paid. Within 24 hours of your confirmation, you will receive payment.
Sell On CashforGoldUSA.com
CashforGoldUSA offers a high-quality option for other rings, jewelry and gold, including small diamonds and wedding rings in gold and platinum.
CashforGoldUSA is a trustworthy option with rating a+ on Better Business Bureau and having ⅘ Trustpilot stars. They will also return your item immediately if you refuse to accept their offer. Additionally, there is a 10% Bonus if you ship your item within 7 Days
How To Sell Your Wedding Rings Online To CashforGoldUSA.com
- Go to CashforGoldUSA.com to request an appraisal kit. This includes a FedEx overnight FedEx mailer that can be delivered to your home and collected at your door. Jeweler’s Mutual insures your item up to $100,000, while the CashforGoldUSA facility is insured by Lloyds of London.
- CashforGoldUSA will confirm your order by email or phone.
- Accept the offer and you will be paid within 24 hours.
How Much Can You Sell Wedding Rings For?
An engagement ring made of 1-carat gold and diamonds will fetch prices between $1,000 and $5,000 depending on its cut, quality, and setting. A platinum setting with large side stones and a name brand like Tiffany and Cartier can lead to higher prices.
Do engagement rings hold their value?
Although diamonds have appreciated in value over the years, you won’t get your money back if you buy an engagement ring. Fine gemstone jewelry typically has a resale value that is between one-third and one-half the price you paid.
Why is the resale value so low? An why will you lose money when you’re selling your engagement ring
Many women don’t sell their engagement rings because the price they get from a jeweler is lower than what they think their rings are worth. The resale price of a diamond is usually one-third of the retail price. This is if you, or your special someone, are not willing to pay retail. But, women are increasingly buying their own engagement rings.
This is due to a few factors:
- Wholesale ring buyers must make a profit on reselling your ring or earrings. They like to purchase low and then sell your diamond at a higher price.
- Because the market for jewelry and diamonds changes constantly, the market price of jewelry might have fallen since its original purchase. The resale price of an engagement ring fluctuates according to supply and demand.
- It is common to be confused about the total weight of a ring or any other jewelry. One common misconception is that jewelry owners believe they have a 1 carat diamond engagement ring. In reality, the center stone weighs.5 and the smaller stones are.5 each. The smaller stones are often not valued by jewelers or buyers of rings, and they are usually only interested in the central stone.
- Many people don’t know the true, certified resale price of their diamond center stones.
What You Could Do With An Engagement Ring After Divorce If You Don’t Want To Sell It
What can you do about rings that are sitting in a drawer or at the back of your closet collecting dust? Here are two ideas:
- You can repurpose the diamond to make another piece of jewelry, such as a necklace pendant or right hand ring. Let’s be real, it’s still the exact same gemstone with the same memories.
- It can be kept for your children. (But, do they really want to wear rings from a divorced marriage?)