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Selling Your Diamond - How is the Best Way to Sell Your Old Diamond Ring?

Apr 22, 2008
Although the old adage goes "Diamonds are forever", sometimes they are not forever with regard to a single individual. There are a variety of reasons why one may wish to get rid of their diamond ring. Perhaps they have just gotten divorced and wish to rid themselves of all memories related to the prior marriage or maybe they have simply upgraded to a newer, bigger and better diamond and do not wish to hold on to the old diamond any longer. Whatever the reason behind the desire to dispose of the diamond ring may be, there are a few ways in which to sell an old gem of this type.

First Step: Have the Diamond Ring Appraised

Before even contacting any potential sellers with regard to the diamond ring, it is important to know exactly how much your ring is worth. The best way in which to do so is to have the piece of jewelry appraised by a certified appraiser. This individual will inspect the ring and determine the worth thereof by engaging in various observations and appraisal procedures. After the appraisal has been completed, it is a good idea to have the appraiser issue a certificate stating the results so that the seller can supply it to the buyer if so requested.

Second Step: Determine How You Want to Sell the Item

The next step is to determine how you wish to sell the item. There are many different avenues one can pursue with regard to selling their diamond ring. Some prefer to sell it through ads in the paper whereas others may find that online sales provide wonderful convenience and a great way to find a buyer for the ring. In addition, some jewelry stores may purchase used diamond rings and pay the seller up front for the ring. Any of these sales options provide a good way to sell an old diamond ring and provide the seller with money for their used diamond jewelry.

Final Step: Part with the Item

The final step, which is sometimes most difficult for individuals, is where one parts with their diamond jewelry. Although the gemstone is considered to be old, it may still hold some sort of sentimental value even though the current owner wishes to part with it. Arrangements need to be made with regard to passing the diamond jewelry over to its new owner. The diamond ring will be given to the buyer in exchange for the agreed upon sum of money.

Summary of Important Points

In summation, some of the steps one should take when selling their diamond ring to either individuals or jewelers include determining the worth of the item, deciding how you want to sell the piece of diamond jewelry and then taking that final step with regard to exchanging the gemstone for money. Selling an old diamond ring is often a big step in the lives of individuals who do so yet it is well worth it if they wish to get rid of the ring and receive some money in return for doing so.
About the Author
James Greene is a Graduate Gemologist and Master Gemologist Appraiser. James has been in the jewelry and appraisal business for over 25 years and specializes in Insurance and estate appraisals. http://www.diamondmarketwatch.com
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