Men's Diamond Wedding Band: Where To Sell

There are several options for selling a men's diamond wedding band, both online and in-store. Local jewellery stores, consignment shops, and pawn shops are all options for selling in person. However, it can be challenging to find a store that is interested in buying the ring and offers a fair market price. Online platforms, such as Worthy.com, provide a convenient and secure way to sell wedding rings, attracting multiple professional buyers to bid on the item. eBay is another online option, but it may result in low or no bids, and the seller is responsible for various costs such as insurance and shipping. When selling a wedding ring, it is essential to consider factors such as cut, carat weight, colour, clarity, and brand, as these can impact the value and attract more competitive offers.

Local jewellery stores

Research Local Jewellers

Start by researching jewellery stores in your area. Look for stores that specialise in buying and selling jewellery, particularly those that deal in diamonds and wedding bands. You can search online or ask for recommendations from friends and family. It's a good idea to make a list of potential stores to visit.

Evaluate the Band

Before approaching jewellery stores, it's important to evaluate the wedding band you want to sell. Gather as much information as you can about the ring, including any documentation, certificates, or appraisals that came with it. Knowing the characteristics of the diamond, such as the 4Cs (cut, colour, clarity, and carat), will help you understand its value. You can also get the ring appraised by a professional if you don't have existing documentation.

Compare Prices and Policies

Different jewellery stores will have varying policies and prices for buying diamond wedding bands. It's worth contacting or visiting multiple stores to get quotes and understand their processes. Ask about their evaluation methods, payment policies, and any other relevant details. This will help you make an informed decision about which store offers the best deal and provides a trustworthy service.

Negotiate and Finalise the Sale

Once you've selected a jewellery store, you can negotiate the price if you feel their offer is lower than expected. Share any relevant information or documentation you have about the ring to support your asking price. If you're satisfied with the final offer, finalise the sale by following the store's procedures, which may include providing identification and signing any necessary paperwork.

Remember to ask any questions you have during the process, and don't be afraid to walk away if you're uncomfortable with a particular store's offer or policies. It's important to feel confident and secure when selling valuable jewellery.

Consignment shops

Despite these drawbacks, consignment stores are generally safe to work with. It is recommended that you read reviews and thoroughly check the shop's policies before making a commitment to sell your wedding band.

Pawn shops

When selling to a pawn shop, be prepared for low offers and be ready to walk away if necessary. It's also a good idea to visit multiple pawn shops to get an idea of the price range they are offering. If you decide to sell your ring this way, be sure to get everything in writing, including any contracts or agreements.

While pawn shops may not offer the best price, they can be a good option if you need cash quickly and don't want to deal with the hassle of selling your ring privately or online.

Online platforms like eBay

EBay is one of the world's largest online marketplaces, with millions of active users globally. It is a great platform to sell a men's diamond wedding band due to its vast reach and ease of access.

To sell on eBay, you must first sign up and create a listing for your wedding band, providing detailed information and multiple clear photographs. It is essential to be transparent and mention any issues, such as missing or loose stones, to build trust with potential buyers. eBay allows you to set your opening price, giving you control over the selling price.

However, it is important to note that eBay charges seller fees, which vary by product category. For jewellery and wedding rings, the seller fee is 12.9% if the total sale is $7,500 or less, and 7% if the sale exceeds $7,500. Additionally, as a seller, you will be responsible for covering insurance, shipping, and other associated costs.

While eBay provides a vast platform to reach potential buyers, it can be challenging to establish trust with buyers as a new seller. Only about 5% of diamond jewellery listed on eBay sells, which can lead to frustration due to low or no bids. Therefore, it is crucial to provide detailed descriptions and photographs to increase the chances of a successful sale.

Overall, eBay is a viable option for selling a men's diamond wedding band, offering a convenient and accessible platform to reach a wide range of potential buyers.

Auctioning platforms

Worthy.com

Worthy is an online auction site that focuses on diamond and branded jewelry. It accepts jewelry worth as little as $1,000 and diamonds that are at least 0.7 carats, which would include many engagement rings and other items. The site is particularly interested in branded items like Tiffany, Cartier, and Rolex. Worthy has an A+ rating from the BBB and a score of 4.6 out of 5 stars on Trustpilot. It provides a free, trackable, and insured FedEx mailer to ship your jewelry to them for evaluation and eventual sale, and items are insured up to $100,000 from Lloyds of London. The whole process typically takes about two weeks, and once your item sells, you will be paid within 24 hours of the sale.

Bidsquare.com

Bidsquare is an online auction marketplace that hosts live and timed auctions from hundreds of auction houses, dealers, and galleries worldwide. It offers jewelry from brands like Cartier, Tiffany, Louis Vuitton, Chanel, and Dior. Bidsquare has an A+ rating from the Better Business Bureau and 3.9/5 stars on Trustpilot. However, an individual seller cannot list an item directly on Bidsquare; you would need to go through one of its partner auction houses, each of which has its own separate requirements and processes for listing an item.

Christie's

Christie's is a well-known and trusted international auction house with locations worldwide. It sells jewelry through 26 auctions per year, as well as through its website and private sales at its salons in London and New York. Christie's deals almost exclusively with high-value pieces of jewelry such as antique and designer items. To sell your jewelry through Christie's, you would need to request an auction estimate by describing your piece, uploading photos, and providing any supporting documentation. If your item is accepted, Christie's will provide a free estimate for the likely sale price. A sales representative will then contact you to discuss the best venue for selling your item, such as a physical auction, private sale, or online event. If your item sells at auction, you will be paid 35 days after the sale.

EBay

EBay is one of the largest online marketplaces for selling new or used items, including jewelry. To sell on eBay, you need to create a profile and upload pictures and descriptions of the items. You can either set a fixed price or put it up for auction, where buyers can bid and drive up the price. eBay typically takes a commission of 10-15% of the sale price. It has an A- rating from the Better Business Bureau but only 1.2/5 stars on Trustpilot.

Shop LC

Shop LC is an online jewelry auction site where bidding starts at just $1. It offers a wide range of jewelry items, including watches, rings, and earrings, with hundreds of new items added daily. There are no reserves, so every auction is an opportunity to save big. You can place your bid manually or use the Auto Bid feature, which automatically bids for you until your spending cap is reached. Shop LC offers easy payment options, including manual payment and Auto Pay.

Frequently asked questions