Selling your unwanted diamond ring after a divorce is a simple way to rid yourself of that reminder and reclaim your story. On top of that, doing so can be an unexpected financial windfall that could help you towards projects, vacations, or even a new piece of jewelry with which to make happy memories.
Selling your wedding ring(s) after a divorce can be challenging. We understand the ins and outs of the process and want to help make it a bit clearer for you.
Life doesn’t always turn out the way you expect. Sometimes the path you take isn’t the one you thought it would be, or someone you knew grows into someone else — sometimes you grow into someone else.
It can be hard to let go of happy memories, whether you and your spouse were together for ten months or ten years. We want to help you navigate the stormy waters of separation in a way that’s as positive as can be for you.
Do Wedding Rings Retain Their Value?
If you do decide to go the route of making some extra pocket money off of your jewelry, be aware that you will not be able to sell your rings for the same amount you or your partner paid for them.
The original retail price included the profit margin the jeweler or boutique needed in order to make a living. By selling the ring back to them you’re filling the role of wholesaler and can expect to make, at best, wholesale prices. If your ring is particularly unusual or attached to a luxury brand name you may be able to sell it for more.
Keep in mind that jewelers are particularly interested in large center stones of exceptional quality over 1ct. A stone of .97 carats will be indistinguishable from a 1carat to the naked eye but is worth significantly less. Fantastic for you when you’re buying your new ring, however a bit more problematic when you’re trying to sell it.
A quick note on TCW (total carat weight): many beautiful diamond engagement rings are made up of several glittering stones, then sold by TCW. This means that a ring with a .82ct center stone surrounded by a circle of smaller diamonds that add up to .21cts has a TCW of 1.03cts. When reselling it, be mindful of the fact that jewelers will be looking at their value as smaller individual pieces rather than one large piece.
Where to Sell Your Wedding & Engagement Rings
Once you’re ready, there are several paths you can take to getting the best value for your jewelry. One of your best options is to try and sell on consignment. This entails walking into a brick-and-mortar store and selling in person. You must leave your ring with them in the shop for a pre-agreed span of time and they do their best to sell it on your behalf. Once the ring sells, you and the shop each get a share in the sale price. Selling on consignment will always get you a better value because there’s no risk for the retailer and they don’t have to pay anything upfront out of their own pocket.
Alternatively, you can try to sell your jewelry online. There’s a rising trend right now with online buyers that cater specifically to jilted women providing a fully insured “breakup box” to send your items in for evaluation.
How Much Can I Expect To Get For My Jewelry?
Speaking very generally, when reselling a wedding or engagement ring you can expect to make back between a third and half of the original retail price.
Name brands like Tiffany or Cartier hold their value better than more discreet pieces, and the age, condition, and amount of wear and tear can also have an effect. Reputable documentation, such as GIA grading certificates and insurance appraisals, will add to its value.
The more information you have about your rings, the more prepared you’ll be. If you know specific details about your diamond-like color grade, clarity, and exact carat weight you can use an online diamond calculator like this one or this one to give you a rough idea of what you can ask for.
See if you can compare some free estimates before selling — start by comparing two online markets and one face-to-face option. If you’re planning on trying to sell directly, you can look through other pre-owned jewelry markets to see what comparable pieces are selling for.
Contributed by: Buyers Of NYC by Jacob 36 W 47th St E06, New York, NY 10036, United States
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