Q:

How can you sell your engagement ring?

A:

Quick Answer

A diamond engagement ring can be sold to individuals through an online auction, classified advertisements or to a business that accepts used diamond jewelry, such as a jeweler or pawnbroker.

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Full Answer

To attract individual buyers from the general public, the engagement ring can be listed on an online-auction website. The seller includes one or more photos of the ring along with a full description. The ring is sold to the highest auction bidder. Another option is to list the ring for sale in a classified advertisement, either online or in a newspaper. The seller discusses the ring with potential buyers and makes the sales transaction with a selected buyer. When selling a diamond ring to a jeweler or pawnbroker, bring the ring into the establishment to negotiate a fair price. Professionals who buy and sell diamond jewelry regularly can appraise the ring's value and make an offer. The seller can accept the offer and sell or refuse to make the deal.

Before attempting to sell an engagement ring, the owner should have the ring appraised to find out its current value. Knowing the value helps the seller remain realistic on how much money the ring is worth in the secondary-jewelry marketplace.

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