Selling a used engagement ring is often a difficult process because either an engagement has been broken or the person has found himself in serious enough financial difficulty to have to sell such a personal piece of jewellery. It is hard enough to have to sell a used engagement ring, but to get the price you'd like for it is an added pressure. There are steps you can take, however, that might make the process a little easier.
- Skill level:
Ask friends, family and co-workers if anyone would be interested in buying an engagement ring. This may be the easiest way to sell a used engagement ring. By selling this way, you save yourself possible fees and deal directly with people you know personally. You may even consider a payment plan for the appropriate person.
Advertise on a free classified website. You may try a national site or a local exchange. This is a good way to make a sale without having to pay any fees. Keep in mind, though, that while you might make an easy sale, you must be careful of people trying to defraud you. You might want to consider not accepting checks or money orders. When selling on a classified website, it is best to accept only cash.
Place the used engagement ring on an online auction site. Most online auction sites charge a fee for using their service, and you will need to take this into account when setting your price. It would also be best to use an auction website that allows you to set a reserve price. This assures you will get the price you would like for the ring. The safety of an online auction site is better than a free classified website, and you can choose to receive your money through PayPal or a credit card before you mail the item.
Visit your local jewellery shop to see if they would buy a used engagement ring. A jewellery shop might be more than willing to buy your ring, especially if you originally bought it from them. You must be prepared and understand that they might give you much less than you believe the ring to be worth. If the ring is being sold due to a broken engagement and not financial difficulties, then you could ask about trading it in for another piece of jewellery.
Sell a used engagement ring to your local pawnshop if you are desperate for money. This is the least attractive option as the pawnshop will likely only pay you pennies on the dollar of what the ring is worth. While you will probably receive very little, this is a way to get some quick cash. And if the ring is a sentimental piece, you could just take a loan out for it and not sell it.
Tips and warnings
- Try to sell the ring to people you know or on websites with no fees before you try a method that will charge you.
- Have the ring cleaned if it is very dirty so that it shows better in pictures.
- Beware of online scams, especially on the free classified ad sites.