How to Pawn or Sell a Diamond Ring

How to Pawn or Sell a Diamond Ring

Are you thinking of selling a ring to get some extra cash? Then it is essential to understand everything about the ring you plan to pawn or sell. 

Whether it reminds you of a previous relationship, no longer desire to wear it or need money, it is possible to sell your diamond ring. Still, it is not about going online, and searching for pawnbrokers near me selling it to the first available one online. 

No, you need to understand the diamond and to set to get your money’s worth. 

Know Your Ring Setting 

Before selling your diamond ring or other precious metal jewellery, find out more about what you wear. Each precious metal has distinct values, with platinum the most prized of all. You can visit a jeweller to have it appraised if you are unsure what the ring is made out of. 

In turn, no one will tell you that the ring is silver if it is platinum when selling it to a pawn shop. Where possible, learn about the ring’s history if bought at an auction belonging to royalty. You may discover that the piece is worth more. 

But remember to take the rings paperwork with you, or no one will believe it belonged to Sophia Lauren, for example. If the ring has a vintage setting, the jewels might be worth more. Even jewellery with the Tiffany brand is expensive and worth its penny. 

What Diamond is in The Ring?

Yes, before heading out to a Melbourne pawn shop, you need to know the diamond in the ring. The truth is there is a difference between a white and yellowish diamond. Know the weight, clarity, colour, and cut. It is important to find out the diamond grade of each of these four important Cs. 

Suppose you have a diamond certificate/ report from a valued GIA or gemological lab. In that case, it will prove the quality of the stone. So, take your certificate with all your documents to double-check the amount offered. 

If you do not have a certificate, you can get someone to evaluate and provide you with a diamond report. 

Where do You Take the Diamond?

While a jewellery dealer or shop is a great place to go. You can search for pawnbrokers near me to find reputable pawn shops that buy gold, silver, and platinum diamond rings. You can even try them all to evaluate the price offered by each, as each will provide you with different values. Of course, you want to go with the highest bidder, right. 

Final Thoughts 

When you know everything about the diamond ring, you wear one thing is for sure. No one will be able to do you in when selling that luxurious jewellery piece. You can get a reasonable price for your elegant ring with documents in your hand for the precious metal and stone. The important thing is that it can bring you instant cash when you need it the most. So, go look at that diamond ring in the safe again. It might just be your lucky ticket to the next vacation, you have dreamed about for a while. 

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