05 Aug How to Sell or Pawn a Diamond Ring?
Thinking to sell my ring is a great approach to obtain some extra cash. It is crucial to understand your ring, whether it is because you no longer desire it, it reminds you of a prior relationship, or you simply need the money. The more you understand about the setting and the diamond, the more money you can make — and the less likely you are to be taken advantage of.
Know the Setting
Find out more about the ring you are wearing. Silver, gold, and platinum have distinct values, with platinum being the most valuable.
Carry it to a jewelry shop and ask for an appraisal if you are unsure what you have.
This will prevent someone from telling you that the ring is silver when it is actually platinum when you attempt to sell it.
If at all feasible, learn about the ring’s history. For example, if you acquired it at an auction and discovered that it once belonged to royalty, the ring will be worth more.
You will, however, need to bring paperwork with you. Unless you have the correct documents, no one will believe you that they formerly belonged to the Queen of England.
Because their style is a hot trend, vintage settings can be worth more because few jewelers employ them now. Any paperwork you can bring to the jeweler to assist date the ring will be beneficial.
Rings from well-known brands, such as Tiffany, might be more expensive than rings from unknown ones.
Know the Diamond
Before you pawn a diamond ring, you must know about it. There is a whole lot of difference between a yellowish diamond and a low-clarity white diamond.
Color, clarity, cut, and weight are the four Cs to remember. Before you go into any kind of jewelry store, find out your diamond’s grade on each of these criteria.
If the diamond in the ring has a diamond report/certificate from the GIA or another gemological lab, it will prove the stone’s quality.
You might have the original certificate if you were the one who purchased the diamond. If such is the case, bring the document with you and double-check that the amount you are given is appropriate for the stone’s quality.
If you do not have a certificate for your diamond, getting it evaluated or getting a diamond report from the GIA by sending it in for assessment is an excellent idea.
Where Should the Diamond Be Taken?
A pawn shop, a jewelry shop, or a jewelry dealer are all good places to pawn a wedding ring.
Each one will almost certainly place a different value on the ring and offer you a different sum. It is good to go to a few different places because you will want to go with the highest bidder.
At DD Pawn Loans, you can also get loans on jewelry. We will assist you in pawning or selling your jewelry of all kinds. Get in touch now!