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How to sell an engagement ring for cash, safely in 2023

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Now is a good time to sell your diamond ring, in part because today there are quality, safe and transparent ring buyers who will pay you the highest rate, but the market is strong because diamond resale prices have jumped 31% over the past two years, according to Martin Rapaport, founder of the Rapaport Diamond Report that tracks diamond prices.

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 into their process
  • Overall sentiment that these are quality businesses that care about their customers
Diamonds USAWorthy
Buys all diamondsAccepts diamonds of
at least .5 carat per stone &
high-end pieces from
brands like Tiffany and Cartier
Pays in 24 hours of
accepted offer or
about 3 days from
requesting mailer
Takes about 2 weeks total
A+ BBB ratingA+ BBB rating
Free, trackable
shipping
Free, trackable
shipping
Insurance up to $100kInsurance up to $100k
Price match guaranteeFree GIA lab report
Go to Cashfor
DiamondsUSA.com
to sell now >>
Go to Worthy.com
to start the
process now >>

Ready to sell your old engagement ring or wedding band? Here’s everything you need to know:

But what you really want to know is likely this:

Best place to sell an engagement ring with a ½ carat or larger diamond: Worthy.com

If you want to sell your diamond ring for cash, we recommend Worthy.com. Your ring should be worth $1,000 or more (a .5 carat center diamond), whether it’s your engagement ring or wedding ring. Worthy will help you sell your ring, plus any other fine jewelry, such as designer engagement rings (Tiffany & Co, Cartier, Harry Winston, Van Cleef & Arpels, etc.). 

Pricing and payment

  • Worthy.com is an online auction, so you will get multiple vetted bids on your jewelry — which typically drives up the sales price and the money you receive
  • You have full control of the auction minimum sale price
  • Get paid within 24 hours of the sale close

Reputation

  • Better Business Bureau A+ rating
  • 4.8/5 stars on Trustpilot

Safety

  • 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

Value add

  • Sellers receive a a free GIA-certified lab report — the only way to get a fully accurate appraisal and resale price estimate

Check out my Worthy review to learn more about my personal experience selling an engagement ring with the auction platform. You can also see what jewelry recently sold for on this Worthy page.

How to sell your engagement ring online to Worthy.com

  1. Go to Worthy.com
  2. Enter your name and email, along with basic information (diamond color, carat weight, clarity, etc.) about your ring, including size and grade of your jewelry or stone.
  3. Receive an estimated market value for your piece right then and there. This whole process takes about 2 minutes.
  4. A very nice customer service representative calls to answer all your questions, and tell you what will happen next.
  5. 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 $100,000. Sweet!
  6. Agree on a “reserve price,” or the lowest price you are willing to accept.
  7. 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.
  8. Receive an offer within 7 days of Worthy receiving your item.
  9. Get paid. After you confirm the sale, you’ll receive payment within 24 hours.

Best place to sell wedding bands or an engagement ring with a small diamond: DiamondsUSA.com

DiamondsUSA is the best option for selling your wedding rings of gold and platinum, and those bands and engagement rings with small diamonds online. 

DiamondsUSA can help you sell the following:

  • Diamond ring with a small center stone (below .5 carats)
  • Wedding ring with lots of small diamonds in the setting
  • Engagement ring with small diamonds or other gemstones in the setting
  • All other diamond, gold, gemstone or even silver jewelry and coins

Pricing and payment

  • Get paid within 24 hours
  • 10% bonus if you send your item within 7 days
  • 100% highest price guarantee

Reputation

  • Better Business Bureau rating of A+
  • Founded 2005
  • 4.7/5 Trustpilot stars
  • Get paid within 24 hours

Safety and insurance

  • Free, secure mailer or FedEx package sent to your home
  • Buys gold, silver, platinum jewelry, watches, coins and scrap
  • 100% highest price guarantee
  • Insurance up to $100,000

Value add

  • Guaranteed highest price
  • If you do not accept their offer, DiamondsUSA will send your item back immediately, free of charge

How to sell rings online to DiamondsUSA.com

DiamondsUSA.com is one of the best gold and jewelry buyers on the market, buys any and all sizes of gold and diamond jewelry, and is easy to use:

  1. Go to DiamondsUSA.com and request an appraisal kit, including a free prepaid overnight FedEx mailer delivered to, and picked up from your door. Your item is insured up to $100,000 by Jeweler's Mutual insurance, and the CashforGoldUSA facility in Foxboro, Mass., is insured by Lloyds of London. 
  2. Mail your item to DiamondsUSA.com. If you mail in your item within 7 days, you're eligible for a 10% bonus.
  3. Once received, you will get a confirmation email or call, and DiamondsUSA evaluates your item and extends an offer.
  4. Once you accept the offer, get paid within 24 hours!

DiamondsUSA is 100% United States-based and family-owned business. The parent company, C.J. Environmental. was started in the basement of the Schneider family home in Sharon, Mass., in 2005, according to CEO Norm Schneider, who runs the company with his sons, Cory Schneider, Stephen Schneider and Barry Schneider.

“By partnering with a refinery, we can offer the public metal and diamond rates typically reserved for private companies,” Norm told me. Within three years of opening, the company was named to the INC 500, as one of the fastest-growing private companies in the United States.

Aside from top rates, customer service, Norm Schneider says, is the other differentiator for CashforGold and DiamondUSA customers.

“We understand the delicate nature of every transaction — clients trust us with their valuables and family heirlooms, and we recognize that is a big responsibility,” Norm says.

Each customer who gets a mailer receives a tracking number so they can track their shipment through SMS messaging and/ or email based on preference. You get an alert when your shipment is scanned by the carrier, when it is scheduled to arrive and when our shipping department has received it.

“We constantly invite clients to ask questions and work nights and weekends to ensure queries are answered in a timely fashion by one of our in-house jewelry experts,” Norm says. “Some clients have lots of questions, some don't have any, either way we are patient and never pressure anyone to sell. We have thousands of repeat clients, some who have been working with us for over a decade.”

If you choose to decline the offer for whatever reason, DiamondsUSA will immediately return your item for free, no questions asked. 

Best place to sell gold, silver, or platinum bands: CashforGoldUSA

Learn more in my review of CashforGoldUSA, which I myself used to sell a gold ring.

Other places where you can sell an engagement ring or wedding ring:

Of all these options you have to sell your old engagement ring, these few likely won’t get you the most money. Here’s why:

  • A local retail business has high overhead in rent, staff and advertising, and less competition than an online diamond or ring buyer, so you may not receive as much cash in comparison to other options.
  • Selling on ebay or Etsy is a lot of work, and requires expertise in jewelry photography and marketing, and unless you have a large cache of product that warrants building a platform, selling just one or a few products is very hard to do.
  • Pawn shops typically buy all kinds of gold and diamond jewelry, but expect to pay a very high commission and receive less cash.  A pawnbroker will nearly always pay far less than a reputable jeweler or online gold or diamond buyer

Again, these are just a few reasons why we think online ring buyers are the best way to sell your diamond rings.

Before selling an engagement ring or other precious jewelry, first educate yourself about what you have, as well as the valuing and pricing process.

How to sell an engagement ring or wedding ring

Here are the basic steps for how to sell your engagement ring and wedding ring:

1. Gather all the information you have about your rings

If you have a GIA certificate for your diamond or other lab report, the box, receipt, and any documentation of the size and quality of the stones and metal.

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.

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. So, you should consider getting a lab report if you don’t have one.

2. Get an appraisal of your ring and diamond

It is important to understand what your ring is worth on the resale market, including the grade and weight of the stones and setting. A quality jewelry appraisal or lab report will document these details. 

An appraisal can also help you determine how much your engagement ring or wedding ring is worth. 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.

3. Get offers from multiple buyers 

Get multiple offers from online ring buyers, including Worthy.com (for engagement rings with larger stones) and DiamondsUSA.com (for wedding rings and engagement rings with small stones). (You can see recently sold items at Worthy to get an idea of jewelry prices.)

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, UPS or USPS mailer that includes insurance, and you should be able to track your item all the way to the buyer, through their specific selling process.

FAQs about engagement ring resale value

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 ring is to be worth.

There are a few reasons for this:

  1. Wholesale ring 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.
  2. 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.
  3. There is often confusion about the total carat weight of a diamond ring or other jewelry. A common misunderstanding is that the jewelry owner believes that, for example, she has a 1 carat engagement ring, when in reality, the center stone is .5 carats, and the surrounding smaller stones total .5 carats. Most jewelers or ring buyers value the smaller stones very little — perhaps less than $100 total in this case — and are only interested in the center stone.
  4. Many people also do not know the actual, certified resale value of their diamond center stone.

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 value of fine gemstone jewelry is one-third to one-half of what you pay for it. In recent years, diamond prices have fallen, making now a good time to sell before prices drop further.

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 engagement ring is worth the current market rate for the diamond and metal.

Understand the value of the gold

Understand how to value platinum

How much will I get if I sell my diamond ring? What is my engagement ring worth?

Here are some recent diamond ring sales from Worthy.com to give you an idea:

0.97 Princess Cut Bridal Diamond Wedding Ring Set sold for $2,520:

Recent sale of diamond engagement ring 1 carat

Worthy takes about 20% off the top of this price as a commission, and you get paid the remainder. This should be similar to what a local jeweler will pay, but you should shop around.

How much will a jeweler pay for a diamond ring?

A jeweler will likely pay you anywhere from 50% to 70% of the retail value of your ring. Shop around to ensure you get the best price. 

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, J, I1, sold for $4,348.

how to sell an engagement ring or bridal set on Worthy.
How to sell an how to sell an engagement ring in yellow gold for $6,000.

Bottom line: Should you sell your engagement ring?

Overall, I am a huge fan of selling your engagement ring in the event that your relationship ends, and I did so myself. The owner of the engagement ring is typically the women, so you are free to sell it when you divorce.

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 a diamond. It is what it is.

I only received a fraction of what my now ex-husband and I paid for it, but I felt I got a fair price and used the proceeds to fund a trip my kids took to Europe with their dad to visit family — which, again, I felt good about.

The real value in selling your wedding or engagement ring or other jewelry you don’t wear is that it frees up all that negative energy attached to the item, stewing indefinitely in your jewelry box. It felt good to rid my home and mind of that significant marriage memento.

Even if you loved the ring, loved your ex, loved being married (yes, yes, yes for me), it is time to move on and free the mental energy attached to the ring — not to mention the money!

Diamond buyer DiamondsUSA

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!

Looking to sell other belongings? Did you know you can sell your wedding dress for cash?

Where can I sell my engagement ring for the most money?

After researching this topic for years, I am confident that you stand the best chance of getting the highest price if you sell to an online engagement ring buyer.

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 value of fine gemstone jewelry is one-third to one-half of what you pay for it.

How much can you sell an engagement ring for?

Your engagement ring is worth the current market rate for the diamond and metal. 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.

Should you sell your engagement ring?

Overall, I am a huge fan of selling your engagement ring in the event that your relationship ends, and I did so myself. The owner of the engagement ring is typically the women, so you are free to sell it when you divorce.

Wealthysinglemommy.com founder Emma Johnson is an award-winning business journalist, activist, author and expert. A former Associated Press reporter and MSN Money columnist, Emma has appeared on CNBC, New York Times, Wall Street Journal, NPR, TIME, The Doctors, Elle, O, The Oprah Magazine. Winner of Parents magazine’s “Best of the Web” and a New York Observer “Most Eligible New Yorker," her #1 bestseller, The Kickass Single Mom (Penguin), was a New York Post Must Read. As an expert on divorce and gender, Emma presented at the United Nations Summit for Gender Equality and multiple state legislature hearings. More about Emma's credentials.

158 Comments

I’m going to sell my rings, and use the money to help buy my daughter’s wedding dress. That way the rings will go to her in some way, but be a blessing to her, instead.

I went to Cancun, got my belly pierced and had my diamond reset into a belly ring. Also had a fling with a hot Latino waiter…

Thanks , I’ve recently been searching for information about this subject
for ages and yours is the greatest I have discovered so
far. However, what in regards to the bottom line? Are you positive in regards to the supply?

I would love to sell mine but when I tried to, I found out the “$10,000” diamond was fake. Seems appropriate based on my marriage experience. Live and learn!

I am not divorced but my mother and father got divorced. My mom hung onto her ring for me. She thought multiple times about selling but didn’t. My step dad also hung onto his ring for his daughter. When my husband asked permission to marry me he was given the ring. I love it and it means so much to me.

That’s beautiful that your mother kept her ring for you and that your husband gave it to you as an engagement ring or when he proposed. That’s so meaningful.

I held onto mine for 9 years after everything was done. I asked my daughter who was 13 if she would like me to save the rings for her (which I paid for our entire set and as well $21,000 in his schooling and he didn’t finish his degree). She declined and suggested I sell the rings. I went to a reputable jeweler in my area and was surprised how much I received!!! I have the money in savings bonds for kids for college. I slowly got rid of pieces of furniture and other household items and replaced with my own choices. My house is my own style now. Only thing I have left isn’t wedding dress and wedding photo albums I don’t know what to do with so packed away and put in storage……what did everyone do with their wedding albums:photos?

Great experience … and good Q … I have all the pics … I like to remember the good times and feel those memories belong to my kids.

Nice sentiment. Remember the good times, those memories belong to the children who were born to that relationship.

I’m surprised your daughter didn’t want the rings. I’d suggest that she might want your wedding dress. If it’s not her size she may not want to have it altered because she may want it to be the same as it was when you got married. She could still treasure if you make the wedding dress a family heirloom or proud treasure. It would mean a lot to her if you kept it, and would still mean a lot to her if you gave it to her. Same for the photos.

I have a “show diamond…looking as if he spent a fortune. Go figure. Ex bought a one and three quarter diamond surrounded br nice bagets..six. bur the diamond was exactlythat. “LOOK WHAT I BOUGHT HER..” What looked like a 10,000 ring has so much carbon..worth maybe 1,500…I may donate it to a food bank or homeless shelter. Not doing me a darn bit of good hanging around.

that sounds like a plan! Or … sell the ring and donate the $$ … might be more helpful to the charity.

After having my diamond engagement ring and wedding bands stowed in a safe for the last two years, I decided it’s time to get them out of my life. Appreciate all of the advice I found here. Whatever I get for the rings, I intend to donate half to the Democrats. Then I will let my hillbilly ex know just where his money was donated. #SweetRevenge.

LOL–Lee You are too funny…I feel like Ebeneezer…I want one ghost to show me hope for compassion, grace and forgiveness to drizzle down and peace to settle in

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