How to Sell an Engagement Ring or Diamond Jewellery Second-Hand?

I remember the first time I sold a piece of diamond jewellery.  A friend of mine was planning to upgrade her engagement ring.  They were trying to sell their previous engagement ring in order to contribute financially to the new one however they weren't having much luck.  They asked me to help as I had some knowledge in the industry, so I gave myself the task of trying to sell this piece for them.  I wrote about it in my diary at the time and I'm going to share some of those thoughts with you.

"It. Is. Hard. I'm currently wondering if it is possible to even sell this item. I've invested a lot of work already, and not one person has emailed me about it. I've listed on various sites and even contacted re sellers. I've contacted auction houses and the commission is sky high. This is tough.
I'm feeling relieved I don't have a sentimental attachment to this piece. The only offer I've currently received is from a jeweller that I know, for a fraction of the purchase price. Essentially they offered a price for scrap metal. I know if this was a precious piece to me I'd have given up already. I'd be feeling sad that no one wants something that once was special to me. I'd be thinking the jeweller who said my ring wasn't worth anything was just mean and grumpy and I'd want to put it in a draw and forget about the whole ordeal." - CT

Unfortunately the experience that I encountered is extremely common for people trying to sell a piece of jewellery pre loved.  The diamond retail market does not want to encourage the sale of secondhand diamond jewellery. They would prefer people to store the item in a jewellery box and simply move onto their next piece.  

The good news is, there are a few things you can do to help sell your item. This will help you be in a much better position to get a sale and hopefully get a good price.

  1. Clean the item thoroughly. You can use some liquid detergent in a cup with warm water. Use a toothbrush to clean the item.
  2. Take good clear photos of the item from multiple angles. People also don't really want to see the item on a person, so try to find a neutral background. 
  3. Include any images of the packaging you may have.
  4. Always include an image of the Diamond certificate. This is extremely important when selling a Diamond Ring.
  5. Include an image of the original receipt if you still have this.
  6. Include an image of the original valuation you received when you first purchased the ring.

Many companies may try to push getting the item re appraised to the current day value, however I do not believe this is necessary at all.  A current day appraisal from an unknown valuer will not usually help get a premium.  Second hand shoppers will generally ignore this and establish the value themselves.  See my blog article here specifically on how to price a Pre-Loved Engagement Ring.

Have a good clear description. Describe the following:

For a Ring:

The details of the diamond, ie Colour, Clarity, Cut and Carat Weight. The Metal of the setting and the Ring Size. Describe any hallmarks, ie PT950, 750 etc.

For Pendants/Earrings/bracelet:

Describe the metal of the item, ie 18ct White Gold, Platinum etc. Include measurements of the pendant/earrings/bracelet. Include the carat weight of the diamonds in the piece. Describe any hallmarks on the item as well.

Finally on where to sell it.  This is possibly one of the most challenging parts for sellers who are selling a one off item.  Most places that will list your item will take a large commission fee so make sure you know the commission before pricing your item.  For free classifieds make sure that if you do meet in person it is at a police station or public place.  View my blog article here on selling a diamond ring or diamond jewellery safely

It is common for people to visit a jeweller at some point when trying to sell their item. Jewellery stores will generally downplay the secondhand diamond market because consumers can save so much money on buying pre loved.  I'll explain this more in my next blog article along with the current change in the luxury retail landscape. 

So in summary, make sure your item is clean, take good clear images from all angles and provide a thorough and accurate description with pertinent information. This will put you in a much better position to sell your item.

At Catherine Trenton Jewellery we value the workmanship in creating each piece and endeavour to preserve this beauty.  As such we have a specific interest in pre loved diamond jewellery from  Tiffany & Co. and other Luxury Brands.  If you would like a quote on a Pre Loved diamond jewellery from Tiffany & Co., Cartier, Bvlgari or Hearts on Fire please contact us here.

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