How to Safely and Securely Sell Your Engagement Ring Online (And Get the Best Offer)

 

Are you going through a difficult time and need to sell your engagement ring? Or simply want to release funds from a valuable asset?  We’re here for you. 

Whether you’re concerned about getting the best price, selling your ring to a trusted buyer, the emotional attachment of the ring, or the overall value of your ring, White Pine is here to walk you through every step of the process. And show how easy it can be to sell your engagement ring online. That’s why we wrote this blog. 

To help people like you safely and securely navigate the process of selling your engagement with confidence, so you can move forward with peace of mind and the best possible outcome.

In this post, we’ll take you through the entire process so you can make the most informed decision and get the best offer for your engagement ring. 

Let’s get started. 

(Note: If you’re ready to part with your engagement ring ASAP, head over to this page, fill out the short form, and we’ll be in touch within 24 hours.)

 

Selling Your Engagement Ring: Where to Start

People usually have many questions when they begin their engagement ring-selling journey, so if you feel overwhelmed, know you’re not alone. 

We’ll break it down so the whole process is super simple. And then go into more detail later in this post.

 

The first step in selling your engagement ring is understanding that engagement rings (barring any extensive damage) do have resale value. Instead of asking yourself “Can I sell engagement ring pieces?”, a better first question is “What is the value of my engagement ring?”.

This brings us to step 2 – determining a ballpark range of what your ring is worth. To do this, you can either do your research, or take it to a trusted diamond jewelry buyer and see what they say. There are a few different types of buyers you can take your engagement ring to, and we’ll review all of your options later on. 

Once you find a trusted buyer, the next step is to prepare your ring for sale. This can be an essential step because it will help your ring look more appealing to potential buyers and could help you get a better price. 

Then comes the offer. You’ll receive the price from the buyer, complete any necessary paperwork, and finalize the sale. And that’s it—that’s the “sell engagement ring” process from start to finish, simplified. 

Next, we’ll discuss each part of the process in detail, providing you with tips and best practices for each phase. 

 

 

Determining the Value of Your Engagement Ring

Understanding the value of your engagement ring is crucial because it ensures you’ll get a fair price and avoid underselling it.

Some people have the misconception that engagement rings don’t have resale value, but that’s not the case. Like most fine estate jewelry, engagement rings hold value over time and can be resold to buyers. This is especially important when it comes to selling engagement ring pieces, as knowing its worth can help you secure a better deal.

To determine the value of your engagement ring, you’ll want to look at factors like the quality of the diamond, the metal of the band, and the overall condition of the ring.

If you’re not a diamond expert, the more straightforward solution is to take it to a trusted diamond jewelry buyer. They’ll have the knowledge and expertise to properly appraise your ring and give you an accurate quote.

Which brings us to the next step in the process.

 

Resale Value

There is no hard and fast rule about what percentage of the original purchase price you will get back.  Bill Norton, White Pine's VP Of Diamond Operation explains " A good rule is to expect somewhere between 20% and 50% of what was originally paid. A lot will depend on the market conditions for the center diamond in the ring or how saleable the style of ring you have currently is. If its from a famous brand that can help the percentage quite a lot." 

 

Where to Sell Your Engagement Ring

Where you choose to sell your ring is a very important part of getting the most money possible and also getting that money in a timeframe that works for you.

We discuss some of the options available. 

 

Specialized Online Buyers

Specialized online buyers, such as White Pine, are one of the easiest ways to sell your ring. 

Plus points: Very knowledgable, quick process, strong offers, access to national and international diamond markets

Minus points: You have to part with your ring (send in to the buyer) to sell it.  

 

Jewelry Stores

Jewelry stores are also a convinient way to sell, especially if you are located close to a store. 

Plus Points: Convinience, more of a personal experience, stores have a local reputation which can be verified easily. 

Minus Points: Often not the best offers as they focus on local vs national makets and buy to meet their own production needs. The scale of the operation is small and relies on the knowledge of one or two staff members to make the offer and complete the evaluation. 

 

Online Marketplaces

eBay and  Facebook Marketplace are sometimes used by people selling their engagement rings. They are peer-to-peer transactions so you are dealing with another person directly. 
This can be a riskier and a non-standard transaction.

Plus Points: You can sometimes find a buyer willing to pay more for your ring. Fees can be lower than other platforms

Minus Points: You are dealing with individuals not professionals, increasing the variability of transactions. You have to determine your own sell price which is not easy. Most people don't have diamond or gold testing facilities so its hard for buyers to know what they are buying. 

 

Consignment

This option is allows you to send you ring to a company that will put in the effort of finding a buyer for you. They put it in their online or offline shop window to find a buyer. 

Plus Points: Consignment prices are normally good or acceptable. You open up your ring to a wider buying audience. Its a simple process.

Minus Points: Consignment fees can be high, over 30%. It can take a significant amount of time for your ring to sell. You loose control of your ring as it stays with the consignment company until it sells. 

 

Auction Houses

Auction houses can be a good way to sell important, high value pieces. They have a clientelle that can pay well for the characteristics they are looking for. 

Plus Points: You get to put your ring in front of a group of strong buyers. Speciality rings can sell for impressive prices. 

Minus Points: It can take a long time to sell with an auction house, thats if your item sells at all, there are no guarantees. Fees can be high to sell at auction. Most rings are not applicable to be sold at auction. 

 

Pawn Shops

Selling to a pawn shops is similar to selling to a jewelry store. They tend to specialize in the lower value items as their core business is loaning against items.

Plus Points: Offers are normally made whilst you are at the store, so its quick. 

Minus Points: Offers tend to be lower as they operate in a small local market. Sometimes stores are located in less desireable locations. 

 

How To Protect Yourself When Selling

Not every buyer is created equal and there are operators that don't have the best ethical standards. To protect yourself adopt these approaches when selling

• Never be in a rush to sell, anyone putting a time limit of a few hours on the offer or estimate is not behaving ethically. 
• Review the selling process of a buyer before your part with your ring so you are comfortable with how the sale will happen and the timeframes
• Don't expect that insurance appraisal values will be the same as an offer from a buyer. There is a big gulf between the two figures as insurance appraisals are for replacement value not a sell price. 
• Always take time to review the reviews of a buyer. Look out for reviews that follow patterns or are posted in bulk on the same date. These tend to not be trustworthy.
• Companies that don't have a fixed location can be more problematic to deal with. Having a location is a sign the company wants interactions and has some scale to the operation, therefore building trust. 

 

 

 

Why White Pine is the Best Place to Sell Your Engagement Ring

You’ve not only landed on the most informative blog about how to sell your engagement ring, but you’ve also entered the virtual storefront of one of the leading diamond jewelry buyers –  White Pine. 

It’s a no-brainer if you want to work with a trusted and reputable buyer who’s been recognized as an industry leader for over a decade. Let’s show you around.

 

Background

Since our inception in 2010, we have aimed to revolutionize the jewelry industry by utilizing naturally recycled diamonds, championing its expansion. And we’ve done just that. 

Not only has the number of businesses that recognize the value and sustainability of recycled diamonds and their positive environmental effects increased, but consumers are also becoming aware of these benefits. 

In addition to our diamond jewelry buying and selling services, we provide diamond recutting, diamond sorting, CAD & custom work, jewelry setting, special orders, and diamond testing. 

When it comes to your engagement ring, you’re in good hands. We’ve purchased thousands of them over the years and know what it takes to deliver a good customer experience and a competitive offer. 

 

Our Buying Process

We strive to make your selling process (and our buying process) as simple as possible. So, we’ve boiled it all down to four phases: 

 

1- Submit a request for a quote on your ring

Provide information about the ring, such as the metal type, the diamond size and quality, and the brand. Upload any certifications or appraisals you may have and add some photographs. The more information you supply, the more accurate your quote will be. 

 

2- Receive a quote within 1 business day

We’ll email you a quote based on the information you provide. 

 

3- Ship your ring to us for an official valuation

We’ll evaluate the physical characteristics of your ring and give you an official offer. The shipping is secure and insured. 

 

4- Accept the offer and receive your payment

Once we’ve received and evaluated your ring and agreed on an offer, we’ll mail you a check or process a bank transfer for a small fee. It’s that easy. 

 

Benefits of Working With Us

White Pine isn’t the only online diamond jewelry buyer out there. You can find many other online buyers with a simple Google search or two. 

However, two main characteristics make White Pine the clear-cut best option. Here’s what they are: 

 

Overall Process

The speed of our process compared to the competition is unmatched, especially since you're selling directly to us. Stack that on top of our competitive prices and the wide range of diamonds and rings we buy compared to competitors, and it’s a no-brainer.

At White Pine, you tell us some basic info about your diamond ring. We give you an estimate within one business day and send payment immediately after you accept our offer.

We know your time is valuable, so we get right to it. While the other guys keep telling you to “hang tight.” 

 

Specialization 

Other online buyers out there will take your diamond engagement ring … and a bunch of other items.  In other words, they’re not entirely focused on the diamond and jewelry industry. At White Pine, that’s all we do.  Remember all those diamond-specific services we mentioned earlier? We don’t just buy and sell diamonds. We also do diamond sorting, custom work, settings, and special orders; we’ll even test whether your diamonds are natural. 

And which potential buyer do you think you’d get a fair, accurate offer from? The buyer that lives and breathes the diamond industry 24/7? Or the buyer that wants also to know if you have some Gucci sneakers you want to sell? 

We think it’s a pretty easy choice. But don’t just take our word for it. Check out our customer reviews and see why many people prefer White Pine as their diamond buyer. 

How Should I Send The Ring To A Buyer? 

The buyer should explain to you their process and be able to answer questions. In terms of preparing the ring for sale most of the time its not neccessary to clean it. If its very dirty just use some warm water and mild dish soap to get most of the dirt off.

Most reputable buyers will provide a packing slip and a guide on how to package up your ring. They should also provide details on how much they are insuring the shipment for. One tip we recommend is to choose a buyer that uses a service that will take no more than 2 days for your package to arrive at their office. Being cheap on shipping and insurance often means being cheap with your final offer. 

 

How Long Does it Take to Sell an Engagement Ring?

You’ve done your research. You’ve found a buyer. Maybe even prepped and cleaned your ring. And agreed on a price. How much time has passed by?

The length of time it takes to sell an engagement ring can vary depending on several factors, including the condition of the ring, market conditions, the price, and the type of buyer or selling method you select.

If you’re selling the ring through a reputable online diamond buyer or a brick-and-mortar jewelry store, the process may take anywhere from a day to a week. 

At White Pine, we typically make an offer within 24 hours of receiving the engagement ring and send the payment immediately.

If you’re selling the ring through an auction or a consignment store, it may take longer (as in several weeks or even months), since the ring will need to be evaluated appropriately and marketed before it can be sold.

If you're selling on your own, on eBay, for example, it could take even longer as it depends on the people’s interest, negotiations, and the ring's price.

Overall, it's important to remember that selling an engagement ring can take some time. Still, by working with a reputable buyer or seller and being prepared with all the necessary information and documentation, you can help ensure a smooth and efficient sale.

 

Are You Ready To Sell? 

If you’re ready to sell now, White Pine is ready to receive your engagement ring and prepare an offer. It can be an emotional decision and we understand that and make the process as simple as possible. There is no need to list your ring for sale in an auction, we will make you an offer the business day your ring arrives for evaluation in New York or Birmingham UK. 

Visit our engagement ring selling page, complete the form, and we’ll contact you soon!