If you’re unsure where to sell wedding rings, you have seven options to choose from. We will discuss selling a wedding ring online and various ways to sell it in person.
But what if the wedding ring is an heirloom and not yours, to begin with? Grandmas often pass on their rings, so here is what to do with grandma’s wedding ring for some ideas to consider.
Where To Sell Wedding Rings For Best Price
There are different online marketplaces to consider if you don’t know where to sell your wedding ring. Some popular places include Facebook or Etsy, and they are even advantageous since you are selling directly to the prospective buyer of your wedding ring.
However, remember to be ready to answer questions from potential buyers. It would also be best to be cautious when transacting with a stranger, especially with precious wedding rings.
Besides posting on online marketplaces, there are also websites online to sell wedding rings. How these websites work is you will ship your wedding ring to them to evaluate it for the best offer.
Of course, you must manage your expectations with the price of your wedding ring as online companies are unlikely to give a high offer. Furthermore, be extra careful and do your research about the company since you’ll be shipping your wedding ring to them.
If you don’t like the idea of getting a lower value for your ring because you’ll be selling it from another online store, you can directly sell the wedding ring to a buyer by doing ads. But, again, you have to be vigilant when choosing a buyer and never agree with shipping the ring to them without meeting in person.
You might also encounter low offers for your wedding ring, but that doesn’t mean that you must agree. Instead, research the cost expected for your ring, so you’ll be selling it for the best price.
Online auctions are popular nowadays, especially with jewelry. You can also consider them for selling your wedding ring, especially when you don’t want to exert much effort like on ads and posting on marketplaces.
The auctioneer will do most of the work, which means that you must also expect a cut from the total fee you’ll get for the ring. Just make sure that low-price bids can be rejected; otherwise, you might not get the best price.
Some jewelry stores are certified to buy jewelry like wedding rings. This is because they can deconstruct used old wedding rings to make new pieces.
Used wedding rings can also be resold as estate pieces. Jewelry stores make an excellent option for selling wedding rings, especially if you want consignment options.
What’s a consignment? You will potentially have the best price for your wedding ring since you will get the balance once it’s bought, and the shop will only get a percentage from displaying and selling it.
If selling your wedding ring to a jewelry store takes too long for your needs, a quick way to earn money from your wedding jewelry is with a pawnshop. This route won’t give you the best price for your wedding ring, so think carefully.
Pawnshops might not give the best value assessment for your ring. However, they are an option for those who need the payment as soon as possible.
If you know someone or a person interested in buying your wedding ring is recommended to you by a friend or relative, it’s possible to sell your jewelry to them for a good deal. It’s also less risky than talking to a stranger via online ads or posts.
But then again, it would help you to do your research regarding the expected value you can get from your wedding ring. You can do this by browsing the prices of similar rings in the market.
Can You Sell Your Wedding Ring?
You can certainly sell your wedding ring, especially if it’s in good shape or its style is trendy nowadays. If you’re unsure where, try starting with jewelry stores near you as some offer reasonable prices for used wedding rings.
There are also professional jewelry buyers that you can meet up or talk to. But if you need quick cash, pawnshops are the first on the list of people looking to sell their wedding rings.
While most people sell wedding rings after divorce or the death of a spouse, some sell their rings because they’ve upgraded them. Find out more on what anniversary do you upgrade your wedding ring.
How Much Can You Get For Selling A Used Wedding Ring?
Usually, you can get 20 to 45% of the original price when you sell a used wedding ring. However, different factors affect the cost you can get, including where you bought the ring, when you bought it, its age, designer, and materials of the ring.
Was this selling guide helpful? We just learned where to sell wedding rings: marketplace, website, ads, auctions, stores, pawnshops, and in-person meetups.
The main takeaway is to know the worth of your ring by researching about it or comparing it with similar rings in the market. You should also always be cautious, especially when doing transactions with people and stores.