How Much Do Used Diamonds Sell For?

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When people are in a financial pinch, they often think about selling their jewelry as a way to get them through a tough situation. One of the most common questions people have is how much they can get for a diamond ring.

After all, a diamond is a popular jewel that always seems to be in demand. Many people even think about going to a diamond pawn shop. How much can people expect to get for a used diamond?

Selling a Diamond Ring

One of the most common misconceptions people have is that they can sell a diamond ring at the current market price. This simply isn’t true. If someone is hoping to get back close to what they paid for the ring, let alone what it is currently worth, this is not going to happen.

Nobody is going to pay market price for a used diamond ring because they need to make a profit when they sell it to someone else. Therefore, people need to focus on where and how they can get as much for the diamond ring as possible.

The Dangers of a Diamond Pawn Shop

Many people think about going to a pawn shop first because this is a convenient option; however, pawn shops are already selling at prices that are well below market value. Therefore, they are going to be buying items for even less money. People are going to lose quite a bit of money here.

Use a Professional Retailer

The best case is to sell a diamond either online or directly to a professional retailer. These shops often have fewer overhead costs to deal with.

Therefore, they are more likely to offer a better price for a diamond. Furthermore, these vendors are easier to work with, offer a lifetime upgrade policy, and frequently have fantastic return policies.