When all’s been said and done, and there are no more lingering feelings, the next step is to get rid of the material reminders of a failed marriage but keep close the intangible reminders of love which is your children (if any).
And hitting two birds with one stone could mean selling your wedding ring and investing the money as starting capital for your children’s future, for example. You’ve got options where you’ll sell your ring and get the best price. By best price, it includes finding what or who to trust the most. Just a matter of knowing which is more worth the trust.
EYES ON THE GOAL BEFORE ACTUAL SELLING
Before selling, you should have asked the appropriate questions that help you realize your selling goal already.
Are you just trying to prove that this ‘once symbol of forever’ is not real? Are you saving for your child or her soon-to-be sibling? Maybe settling the estate of a decedent parent’s estate or just full-on pleasure and leisure?
Does the ring really have sentimental value because it came from a person you thought you really loved, or was the ring just a knock-off from the diamond retailer Blue Nile? Probably want to repurpose?
FIND A BALLPARK
If you aren’t the type who actually cares about how much a ring or any jewelry in general costs, it’s time to care.
Get your sights and energy on finding the retailer or getting the initial price of the ring. Then you can add on the details like the carat weight, size, history, and narrative to make it sell. Do you want to sell to fellow divorcees, wide-eyed to-be-wed fairytale dreamers, or anyone you come across in the street if you’re that good.
Something borrowed says to remember that wedding or engagement rings are items of emotional value that precede commercial value. A buyer is probably against the institution of marriage but knows true love, pretty much like Ben Affleck as Neil in He’s Just Not That Into You.
Never forget that anecdote or a sensible but romantic story as a vital selling point.
So, where to sell your wedding ring for cash? Here’s a list:
- Metro Jewelry Stores
- Consignment Shops
- Pawn Dealers
METRO JEWELRY STORES
The easiest place to look would be your local jewelry store, either in the city, province, etc. Your local option for selling your wedding ring would be jewelry stores near you.
Typical jewelry stores mainly sell new inventory or jewelry bought from wholesale retailers. A few shops bring a decent offer for preloved items and are recommended if you want to take a chance on the safest bet.
A single but major snag is that it can be tough to find a store that takes an interest in paying for your wedding ring and, at the same time, find one that can offer fair market or even appraised value.
Usually, it’s upscale collateral lenders and sellers equipped with certified professionals and experts in the purchase and appraisal of any type of high-end jewelry, including antique and vintage jewelry.
Otherwise, you can always window-shop and discover more shop options than necessary, get estimates, and compare and contrast to obtain the best bargain.
When selling your wedding ring, a consignment shop is another option. It’s the business of allowing another person or agent the authority to sell an item on behalf of the consignor, which is the owner.
Right off the definition, the consignor or original owner will only receive a percentage of the sale price as commission for giving another person the job of selling the wedding ring.
That’s one snag of consignment, and the other one is the amount of time it’s usually going to take before finding the right buyer to waltz in the door and claim your valuable ring.
The very high cost of consignment, both time and money, is something you should consider. Research shows that, by and large, consignment stores charge 20 to 50% of the sale, and you take whatever remains.
Similar to jewelry stores and pawn dealers, consignment stores are among your safest investments. It’s wise to peruse the review page and shop’s policies before committing to selling your wedding rings in consignment shops.
Like consignment stores, pawn shops are one of the most risk-friendly options. It’s not a scam, for they have been in existence for more than centuries, probably under various names. It’s a swift method of receiving cash for jewelry items. However, unlike in ancient times, pawnshops are well-manned and systematic now.
Since it’s one of the safest, one snag is you won’t receive much return for your jewelry should you choose to pawn it. Yet it remains that pawnshops are reliable for easy money, especially when you need sustenance but don’t need a wad of cash.
In the event you need to convert your wedding rings into purposable cash in a jiff, then visiting a pawn shop is the way to go.
As mentioned in passing earlier, Biltmore is an upscale loan provider and outright buyer of valuable assets, including wedding rings. About that appraisal, whether it be a used item with high-end value, there’s an online appraisal form you can fill in. You can provide general information regarding the wedding ring you wish to be evaluated.
If you prefer in-voice, you may also call someone at the Scottsdale and Chandler offices, with our telephone numbers displayed on the site.
If you want in-person, bring your wedding ring to one of the locations, so one of our professional buyers can assist and evaluate your valuables, then walk you through the buying process. You will receive immediate cash in hand after a successful item evaluation.