Perhaps you are ready to sell your engagement ring after a divorce or breakup for emotional reasons, or maybe you just need the money. No matter the reason, now is a good time to sell your engagement ring, in part because today there are a number of quality, safe and transparent jewelry buyers who will pay you the highest rate.
Ready to sell your engagement ring or wedding band? Here’s everything you need to know.
You have five options for selling an engagement ring:
1. Local jeweler or diamond exchange
2. Local cash for gold/silver/diamond store
3. Local pawn shops
4. Marketplaces like Etsy and eBay
How do I sell my engagement ring?
Here are the basic steps for how to sell your engagement ring:
1. Gather all the information you have about your ring: if you have a GIA or other lab report, the box, receipt, any appraisal or documentation of the size and quality of the stones and metal.
2. Decide where you will sell your ring — to a jeweler or diamond buyer near you? A marketplace like Etsy or eBay? Or an online jewelry buyer or marketplace like Worthy?
3. Get offers from some of the top online jewelry buyers, including Worthy and CashforGoldUSA.com. Just share some basic information with the seller either online or on the phone, then they will make an estimate. From there, a quality online buyer will send a free FedEx mailer that includes insurance, and you should be able to track your item all the way to the buyer, through their specific selling process.
Where can I sell my engagement ring for the most money?
If your ring has at least a half-carat center stone and will likely sell for more than $1,000, it can be sold on Worthy.com, an online marketplace where hundreds of buyers will bid for your item — promising to drive up the sale price. Worthy has an A+ BBB rating and insures up to $100,000. Get a free GIA lab report estimate and sell on Worthy.com now >>
If your ring has smaller diamonds or gemstones and will resell for less than $1,000, the best choice is online jewelry and gold buyer CashforGoldUSA. With a Better Business Bureau rating of A+, insurance up to $100,000, CashforGoldUSA promises to pay within 24 hours of receiving your ring. Get a 10% bonus if you send in your item within 7 days with CashforGoldUSA now >>
Best way to sell an engagement ring? Online!
After researching this topic for five years, I am confident that you stand the best chance of getting the highest price for your jewelry if you sell to an online jewelry buyer.
Think about it: The vast Internet creates much more competition that encourages online buyers to provide honest, trustworthy service. And while there are certainly quality local jewelers, there are simply fewer jewelers in each community. Plus, selling your engagement ring or other jewelry online means you don’t have to leave your home, haggle with a jeweler or otherwise go through the hassle.
The recommendations made here are based on my own personal experience with highlighted companies, online reviews from customers, Better Business Bureau ratings, news reports from reputable publications, age of the company, ease of use of their websites, transparency, and overall sentiment that these are quality businesses that care about their customers.
Best place to sell an engagement ring: Worthy.com
If your ring is worth $1,000 more (a .5 carat center stone) we recommend selling an engagement ring with Worthy.com. Worthy will help you sell your ring, plus any other fine jewelry.
- Worthy.com is an online auction, so you will get multiple vetted bids on your jewelry — which typically drives up the sales price
- Worthy is trustworthy. Send in your jewelry with a free, 100% trackable FedEx mailer. Your ring is video recorded from the moment it enters the Worthy NYC offices, and insured up to $100,000.
- Better Business Bureau A+ rating.
- Each seller receives a free GIA certified lab report — the only way to get a fully accurate appraisal and resale price estimate
- You have full control of the auction minimum sale price
- Get paid within 24 hours of the sale close.
Check out my Worthy review to learn more about my personal experience selling a diamond ring with the auction platform.
How to sell your engagement ring online to Worthy.com
- Go to Worthy.com
- Enter your name and email, along with basic information (diamond color, carat weight, clarity, etc.) about your jewelry, including size and grade of your jewelry or stone.
- Receive an estimated market value for your piece right then and there. This whole process takes about 2 minutes.
- A very nice customer service representative calls to answer all your questions, and tell you what will happen next.
- Ship your item. If that price suits you, Worthy will send a FedEx delivery person to your house the next business day (or sometimes the same day! That blew my mind!), in which you send the jewelry, diamond or watch to them — Worthy pays for all shipping and insures the item for up to $1 million. Sweet!
- Agree on a “reserve price,” or the lowest price you are willing to accept.
- Your item is auctioned. Worthy will put your jewelry in front of at least 100 potential buyers worldwide, who can then bid on your item.
- Receive an offer within 7 days of Worthy receiving your item.
- Get paid. After you confirm the sale, you’ll receive payment within 24 hours.
Sierra Fein: “I recently used your services to sell an engagement and a gold wedding ring that I no longer needed after my divorce. When I was emotionally ready to sell these pieces, I went to my local jewelry store and was really disappointed with the small amount that they were willing to offer me as the resale value of my diamonds. Using Worthy was so easy. I felt very comfortable once I spoke with a customer service representative. I received shipping labels, and I was able to watch the live auction. It over exceeded my reserve price and with the money, I am able to go back to school to become a teacher. Thanks so much, and I am happy to recommend your services to anybody else I know that’s in a similar situation.”
Christa Carrell: “HI wanted to say thank you again for helping me to sell a ring on your site. Everything went great, the process was seamless. You guys answered any questions that I had and I will definitely recommend you in the future. Again, thank you so much. I’m going to be using that money towards a vacation pretty soon.”
Kelly Witte: “I recently sold my Rolex Datejust women’s stainless steel watch on Worthy.com. My experience was a wonderful one. I was extremely impressed with the attentiveness and the response time from my sales representative. I also felt that he tried to get me the maximum amount of money that I wanted for my product, and I was very pleased with them. I am looking forward to the next purchase that I will be making with the money, which is a new upgraded version of my watch. So, I am extremely excited and I would definitely recommend Worthy.com for anything you want to sell in the future.”
Maura: “I have been looking to sell my diamond engagement ring for at least five years and I did not find any good ways of reselling it. When I say “good ways” I definitely wasn’t coming close to getting the value that I would have liked to have gotten for the ring. I just wanted to sit on it, like a safety net. I felt like I had my safety net ready when I needed it, even though there was no way to actually get a decent price for it. So, when I discovered Worthy, of course, I wanted to look into it to see what I could get for my ring. I had a minimum in my head of what I wanted to get, and when I spoke to somebody at Worthy, which was nice when I went to the website, somebody called me to follow up, which I think was very helpful because it gave me the human touch of the process which continued throughout. So, I was very happy. When Mary called me, she asked me questions that were right on par with what I would have wanted somebody to ask. She made it very easy for me. I ended up coming into New York City because I’m close by in Connecticut, so I made it even easier for myself by popping in and making an appointment.”
Learn more about how much you could sell your engagement ring for at Worthy >>
Best place to sell an engagement ring: CashforGoldUSA
For other rings, gold and jewelry, CashforGoldUSA is a quality choice:
- Better Business Bureau rating of A+
- Get paid within 24 hours
- Free, secure mailer or FedEx package sent to your home
- Buys gold, silver, platinum jewelry, watches, coins and scrap
- Fox Business News investigation found CashforGoldUSA paid 3X its competitors.
- 100% highest price guarantee.
- Insurance up to $100,000
- If you do not accept their offer, CashforGoldUSA will send your item back immediately, free of charge.
- 10% bonus if you send your item within 7 days.
How to sell your engagement ring online to CashforGoldUSA.com
CashforGoldUSA.com is one of the best gold buyers on the market, and easy to use:
- Go to CashforGoldUSA.com and request an appraisal kit, including a FREE prepaid overnight FedEx mailer delivered to, and picked up from you door. Your item is insured up to $100,000 by Lloyds of London.
- Once received, you will get a confirmation email or call, and CashforGoldUSA evaluates your item and extends an offer.
- Once you accept the offer, get paid within 24 hours!
Send in your item within 7 days and get a 10% bonus.
If you choose to decline the offer for whatever reason, CashforGoldUSA will immediately return your item for free, no questions asked. Learn more in my review of CashforGoldUSA, which I used to sell a diamond and gold ring.
What customer have to say about CashforGoldUSA:
Where you could sell your engagement ring (and why you probably shouldn’t)
When selling your diamond jewelry, you have a few options that likely won’t get you the most money for your engagement ring:
- Sell to a jeweler or diamond exchange near you. You may have a relationship with a trusted jeweler, or find someone on Yelp. This may be a quality choice, though keep in mind that a local retail business has high overhead in rent, staff and advertising, and less competition than an online diamond or jewelry buyer — so they may be more likely to take a higher commission.
- Pawn shops typically buy all kinds of gold and diamond jewelry, but expect to pay a very high commission. Pawning your jewelry may get your immediate cash, but a pawnbroker will nearly always pay far less than a reputable jeweler or online gold or diamond buyer.
- Online consignment store or marketplace like Etsy or eBay.
Google or Yelp will lead you to many choices of where to sell your engagement ring for the most money — both online, as well as jewelers and large retailers near you, pawn shops, gold buyers, vintage and estate jewelry stores, and auction houses.
While selling to a local jeweler or pawn shop may give you quick cash, brick-and-mortar jewelry buyers typically pay less than online buyers, so I recommend finding a reputable jewelry buyer online.
Online jewelry buyers often pay more than local jewelers or pawn shops because their overhead is low, there is far more competition online, and online buyers are subject to national review agencies like the Better Business Bureau. For you, they are fast, convenient and you don’t have to leave your house to get your cash within a day or two. Plus, many local buyers have closed during the pandemic (even if their Yelp or Google listing says they are open, they may have actually closed).
Jewelry stores that buy diamond rings near me? Will a jeweler buy my ring?
Ask your friends or colleagues for local jewelry stores they trust, and check with your local Yelp or Google listings, as well as the Better Business Bureau and Chamber of Commerce. Many if not all jewelers in your town may be closed temporarily or permanently.
Especially during today’s pandemic lockdowns, selling online can be a good option for sake of convenience, and the fact that there is more competition on the Internet, inspiring online diamond buyers to pay the highest price, and most online jewelry buyers send a FedEx or other mailer right to your door.
How much is an engagement ring worth?
Before selling an engagement ring, or other precious jewelry, first educate yourself about what you have, as well as the valuing and pricing process.
Understand the value of gold or platinum engagement ring:
The resale value of your engagement ring depends on the size, cut, clarity and color of the stone, as well as the market value of the precious metal in which it is set — as well as whether yours is name brand jewelry.
Understand the value of your gold wedding ring:
Your gold wedding band is worth more or less its weight in gold, based on the karat and weight of the metal.
Appraise an engagement ring
Most local jewelers in your community will offer an appraisal, often for free. This can be a good estimate of the replacement value of your jewelry, which can help you get it insured, and understand its retail value, if you were to buy the sale item at a store, today. Jewelers will often offer this for free.
However, if you want to know the true value of what your jewelry is worth, and how much you can get for it by selling, you really need a certified lab report.
There are just a couple of internationally recognized jewelry grading laboratories, and these include the Gemological Institute of America, or GIA, based in New York City, and the International Gemological Institute, or IGI, based in Antwerp, Belgium.
Worthy works with both of these laboratories, which provide the most respected, independent, third-party certifications (a.k.a. lab reports) on your jewelry.
How much is a small engagement ring or gold wedding band with small diamonds worth?
If your jewelry is modest, there are other options for selling an engagement ring. For engagement rings and other jewelry estimated at less than $1,000, I recommend CashforGoldUSA, and its sister site CashforDiamonds — both of which have an A+ Better Business Bureau rating and guarantee payment within 24 hours, and pay a 10% bonus if you send in your item within 7 days.
Note: Worthy only accepts items valued at $1,000+, which is typically the minimum value of a diamond center stone of at least .5 carat.
How much is an engagement ring setting worth?
The gold or platinum setting of an engagement ring is typically worth its weight in scrap metal costs. Any side stones, unless they are more than .3 or .4 carats, are called melee diamonds, and may be worth a few hundred dollars if they are high quality.
Except in rare cases when side stones are large or high quality, or the ring is by a name-brand jewelry designer (Tiffany, Cartier, Bulgari) jewelry and diamond buyers will remove the center stone to repurpose, and melt down the ring setting for scrap.
How much can you sell an engagement ring for?
A 1-carat diamond and gold engagement ring will fetch resale prices ranging from $1,000 to $5,000, depending on the cut, quality and setting. Platinum setting and large side stones can mean higher prices, as can name brands like Tiffany or Cartier.
Your diamond engagement ring is worth the current market rate for the diamond and metal.
At Worthy, a 0.92 CT emerald-cut solitaire ring, H, VVS2 in a platinum setting sold for $1,380, while a 1.55 CT round solitaire ring, J, SI2 in a gold setting sold for $4,003. A 2.24 carat princess-cut solitaire diamond ring, J, I1, sold for $4,348.
Do engagement rings hold their value?
While over time, diamonds have historically risen in value from a retail price point, do not expect to get your money back on an engagement ring. Typically resale vale of fine gemstone jewelry is one-third to one-half of what you pay for it.
Why is the resale value so low? Why you will lose money selling your engagement ring
One of the reasons many women choose not to sell their engagement ring is that the price they are quoted from a jeweler or auction site is much lower than they believe their rings to be worth. Typically, the resale value of a diamond is about one-third of what you will pay retail.
There are a few reasons for this:
- Wholesale jewelry buyers need to make a profit when they resell your ring or earrings, so they like to buy low, and then turn around and sell your diamond for a higher price.
- The market for diamonds and jewelry changes all the time, so the market price of your jewelry may have dropped since it was originally purchased. Also, engagement ring resale value fluctuates with supply and demand.
- There is often confusion about the total carat weight of a diamond ring or other jewelry. A common misunderstanding is that the jewelry owner believers that, for example, she has a 1 carat diamond ring, when in reality, the center stone is .5 carats, and the surrounding smaller stones total .5 carats. Most jewelers or jewelry buyers value the smaller stones very little — perhaps less than $100 total in this case — and are only interested in the center stone.
- Many people also do not know the actual, certified resale value of their diamond center stone.
I admit that the cash I earned by reselling my engagement ring was less than I’d hoped, but after some research, I understood that there is a significant difference between retail and resale value of diamond. It is what it is.
I used the money to send my kids to Europe with their dad to visit relatives there. It seemed a just use of those funds.
Plus, it felt good to rid my home and mind of that significant marriage memento.
Takeaway: Just trade your engagement or wedding ring for cash, and call it a day.
Who gets the engagement and wedding rings in a divorce? Is it OK to sell your engagement ring after the divorce?
In most states, jewelry is considered a gift, and the gift recipient (a.k.a. the bride/wife/woman) keeps her own engagement and wedding ring, whether she stays married or not. Learn more about marital property and assets here.
100% yes, it is OK to sell your engagement ring. Legally, it is likely yours, no one else will want it in the future, and you can cash in that asset to add joy, meaning or financial stability to your life now!
What you could with an engagement ring after divorce if you don’t want to sell
If the rings sitting in a drawer, the back of the closet, or a jewelry box, collecting dust and spreading bad energy, what can you do with them? Two ideas:
- Repurpose the diamond into another piece of jewelry — like a necklace pendant or right-hand ring. But, let’s get real: It’s still the same gemstone, with the same memories.
- Keep it to give to your children (do they really want to wear a ring from a marriage that ended in divorce??)
These divorced women created their own meaningful ceremonies with their engagement rings:
Monique: “Climbed a mountain and threw it off the summit.”
Sarah: “Put it in the collection plate at church.”
Melanie: “Sold my diamond ring. Bought an entrance to a marathon, new running shoes, got my hair cut and colored, bought my kids a toy, and paid my attorney (some) of the money I owed. It was tough, but I’m glad it’s not there burning a hole in my soul.”
Misty: “Sold it to buy gas to leave his sorry a$$!”
Marilyn: “Sold it. Kept thinking about the Gary Lewis song, This Diamond Ring Doesn’t Mean What it Meant Before.”
Precious: “Flushed it. It was cheap just like our marriage.”
Joan: “Since mine is 3.5 carats I still wear the fucking thing…😳”
Eve: “I left it on the dresser for him along with a note that said it was as worthless as his vows to me.”
Shonda: “Bought hardwood floors for the house. We’d fought bitterly over that while we were married. I enjoyed my new floors for three years before selling the house. The realtor estimates the floors added $25,000 value. Win!”
Shanna: “Wrapped it up in a bunch of scrunchies, and threw it into the middle of a river.”
Brenda: “When my divorce was final, I put them in an urn which holds the ashes of my baby girl furbaby. She is gone and so is my marriage, so now they – the memories – are entwined forever.”
Jess: “My wedding band was worn, and engraved on the inside, so I couldn’t get more than scrap gold value for it. It had felt like a shackle to wear. So I threw it into the Great Salt Lake the day before I left the state for good.”
Julie: “I took all the jewelry he gave me to our jeweler who bought them. Most were “sorry I screwed up” pieces, so all loaded with bad memories. I purchased several pieces that I really love, including nice diamond stud earrings, and don’t miss a single piece!”
My advice? Don’t hold on to a token of a relationship gone wrong. Instead, consider selling your engagement ring for the most money, safely through a reputable online jewelry buyer — and use the money for a positive new start.
More about my own experience selling my diamond and gold engagement ring:
I had a really spectacular engagement ring.
It wasn’t that it was huge or particularly expensive.
It was unique — the 24-carat yellow gold band consisted of a half-dozen hand-hammered connected spheres, each centered with a very nice diamond.
It was totally my style, and it got lots of attention (which is also my style).
When I divorced, I put the wedding rings in the safe in my house.
In the back of my mind, I thought I would give them to my daughter one day — a token of the marriage that produced her.
Plus, I just wasn’t ready to sell the engagement ring — or part with that time of my life.
I see now I wasn’t ready to face it. In the end, I sold it.
Bottom line: Sell your engagement ring near me or online?
Selling an engagement ring can be stressful — but ultimately freeing, and a smart financial move. Selling online is typically the fastest way to sell your diamond jewelry, and gives you the greatest chance of selling for the highest price, thanks to all the competition.
Worthy.com stands out for its high customer service, free lab report, and online marketplace of diamond buyers from around the world.
Smaller stones of less than .5 carats, and other jewelry should be sold to CashforGoldUSA.
How about you? Do you still have your engagement ring? Or did you resell your wedding ring, give it away, turn it into a necklace, or throw it out the car window into a ditch on the way home from the court date finalizing your divorce? Do you feel you understood the true resale value of your jewelry? Please share in the comments …