Where Can You Sell Your Engagement Ring?

Where to sell an engagement ringNowadays, there is no guarantee for anything – a hard fact to swallow and to live with in this world. Everyone and everything is dispensable, even relationships. But what happens after the hard break-up? Where do you start? How do you move on?

Yes. Moving on. Pretty much the first thing one has to do after the break up and this can be as simple as deleting the person from your social media accounts, or literally throwing away all the things that reminds you of the hardest, most painful time of your life. But there is one thing that you would hesitate to throw away – the engagement ring.

Ladies, imagine parting with your 14k asscher cut diamond engagement ring. Imagine the choices you have to make: Give it away, keep it, or sell it? Majority would choose the last option since the engagement ring would only be a stark reminder of what used to be if you decide to keep it. It would be the practical move instead of just giving it away. But what are the things you need to remember before selling your engagement ring? We need to identify the things needed to be done so you could do it right.

What You Should Do First

Before you start selling your ring, you must identify the worth of the item you are selling. Have it appraised or check the value of the engagement ring first. You can check websites or physical stores for similar rings and take note of the price. Once you know the value, you can now start searching where you can sell your engagement ring.

Sell your engagement ring to a pawnshop

Sell it to an establishment that exchanges cash for items, specifically cash for jewelry. A pawn shop can be classified as one. Mostly these items will be sold to a different customer or may act as a medium to other buyers looking for items that you sold. They have their own shops and they are an already known business in your area.

Usually the process is they offer you a price for the engagement ring you’re selling but more often than not, lower than the value you were given by a 3rd party appraiser or sometimes lower than market value. The reason being they want to gain as much profit from the item when they resell it.

They can offer you a lower price that may corner you to a wall but you need to make sure that if they want the item, both sides agree and meet halfway. That is why they may offer multiple times until you reach an agreed price. You need to make sure that you will actually set an expectation when it comes to the selling price and not to be overpowered by the buyer’s convincing powers to sell it at a lower price. You must meet halfway and go with a price that you feel is fair to you (and not just them).

Sell it to a Jewelry Shop

Another way to sell your engagement ring is through a jewelry shop. These are very visible throughout the state so you will not have a hard time locating one. It also works the same way as establishment that exchanges items for cash, only that not all the time they would exchange it for cash. Some stores offer gift certificates or store credits in the event you may want to get a different set of jewelry. You can actually get another ring in exchange of your ring. So it depends on the value or the time you sell the ring. Keep in mind though that most of the time, the value of your ring would definitely be lower and you may have a difficult time getting a better price.

Sell your engagement ring to Biltmore Loan

In the state of Arizona, Biltmore Loan and Jewelry is one of the most trusted jewelry buyers where you can sell your jewelry such as engagement rings. Biltmore Loan is a proud member of BBB and while people may compare us to a pawnshop, we are not one and definitely we are better than pawnshops. The professional experience you get once you step into our Scottsdale or Chandler office is something you cannot get from a pawnshop. We have expert jewelers who can appraise your item and in fact, once we’ve given you the value of your item, feel free to shop around and check other stores that may appraise your item. You’ll find it ours is the most competitive rate.

Before Selling The Ring

There are lots of ways to sell your engagement ring, but always remember that before selling, you should have considered everything and thought this through. Once it’s sold, there’s no way to get it back. Making a big decision like this is potentially life changing. Letting go of your previous engagement and making peace with the past, allows you to create a space for something new to come in your life.