If you searched online for “sell engagement ring near me” or “best place to sell a diamond near me” you were served up a lengthy list of diamond buyers in your area. Additionally, you probably came across many out-of-state buyers asking you to mail your diamond to them, as well as auction houses. The plethora of choices can be confusing.
Which business is the right one for you depends on a variety of factors. So, let’s look at each type of business individually and break down the things to consider when selling a diamond ring in Los Angeles. Hopefully, with this information, you will be able to decide on the best way to sell an engagement ring.
1. Selling a Diamond Ring to a Jewelry Buyer
A jewelry buyer is someone who buys second hand jewelry from dealers, estate sales and private individuals to resell. This includes items such as diamond rings, bracelets, and earrings. It can also include luxury watches. Los Angeles Jewelry Buyer is an example of this type of business.
There are two kinds of jewelry buyers: local and national. A local buyer will buy your diamond ring at their place of business. A national buyer will ask you to ship them your diamond ring.
What are the pros and cons?
When a local buyer buys your diamond ring, it never leaves your sight. You can meet personally with the buyer and complete the sale in-person. However, most local buyers can’t usually match the higher cash offer of a national buyer, who has a larger network of dealers they work with.
At Los Angeles Jewelry Buyer, we are in a unique position as both a local and national buyer. We buy diamond rings from clients throughout Los Angeles County through our network of executive offices, as well as from our main buying office in Redondo Beach. Additionally, Los Angeles Jewelry Buyer is a second-generation owned jewelry business with a large national network of clients, which allows us to pay more than buyers who rely only on local sales.
If you really don’t want to ship your diamond then a local Jewelry Buyer like Los Angeles Jewelry Buyer is probably the best way to sell an engagement ring.
Our process begins with an initial quote for your diamond ring, and an estimate of the cash offer you will receive. To get started, contact us now and tell us about your item.
2. Fine Jewelers Who Buy Diamond Rings
Keep in mind that fine jewelers are in the business of selling new diamond jewelry, rather than buying used rings. However, many Los Angeles jewelers are willing to trade your old diamond ring as credit against the purchase of a new item of diamond jewelry. So, if you are looking to upgrade your old diamond ring to a newer one with a larger stone, then your local fine jeweler is an option worth looking into.
Fine jewelers who know about the value of old diamond rings are estate jewelers. These are your best option for selling a diamond ring to a jewelry store. You can find Los Angeles estate jewelers who operate jewelry stores that exclusively sell vintage and antique jewelry. There are others who sell new diamond jewelry, along with estate items
The difference between these jewelers and Los Angeles Jewelry Buyer is that we are estate jewelers who are experienced buyers. Our speciality is second hand jewelry, whether it’s modern, vintage or antique. We have 25+ years of experience in diamond jewelry. While searching for the best way to sell an engagement ring, you will get offers from different buyers. We encourage any client who is not sure about selling us their diamond ring to receive a cash offer from other Los Angeles estate jewelers. And then see how much more we can pay for your diamond ring.
3. Selling Your Diamond Ring at Auction
There are several ways to sell your diamond ring at auction. In the past, selling at an auction was primarily for people selling very expensive diamond jewelry at Sotheby’s and Christie’s. But today there are online auctions, ranging from e-Bay to auction websites dedicated to selling diamond rings.
The main two issues involved in all instances are: 1) Uncertainty and 2) Time.
While auctioning your diamond ring may seem like the best way to get the highest cash offer, that is often not the case. The bidders at online jewelry auctions are mostly dedicated jewelry buyers (like Los Angeles Jewelry Buyer) and not members of the public. So, you are adding an extra and unnecessary “middle-man” to your transaction, whose commission is often as much as 35%. All of which means that much less money in your pocket.
In the case of e-Bay, there is a lot of time involved. Setting up a successful auction page with proper photos takes time and knowledge. You could be waiting a long time for a cash offer that is acceptable. A big reason for this is that most buyers of diamond jewelry are not willing to buy an expensive diamond ring from a stranger. Retail buyers will often only buy from established businesses, where there is an extra level of security.
If you do decide to auction your diamond ring online, we would strongly encourage you to get a quote from Los Angeles Jewelry Buyer first. So that when you do auction your diamond ring, you will have a better understanding of its true resale value.
4. Should I Sell My Diamond Ring to a Pawn Shop?
Pawn shops used to have a bad reputation, but that has changed partly because of popular TV shows like Pawn Stars. Many of today’s Los Angeles pawn shops are nothing like the seedy ones seen in Hollywood movies (though some still exist). There are many reputable pawn shops throughout Los Angeles County where you can sell a diamond ring or take out a collateral loan.
Pawn shops are useful for people who are selling a diamond ring with a stone under one carat. But probably not the best way to sell an engagement ring if it is a large carat diamond ring or luxury designer jewelry. The reason is that pawn shops have a business model focused more on loans, and they lack the large resale network of a dedicated jewelry buyer.
When deciding on a Los Angeles pawn shop, be sure to choose one that has a GIA trained professional on staff. This will better ensure you get an accurate offer for your diamond ring. However, please note that GIA training does not mean the staff are experts at pricing your diamond ring, only that they are trained to assess the quality of your diamond.
For additional information about GIA and other diamond certification labs, please read the section below. To get started selling your diamond ring now, contact Los Angeles Jewelry Buyer.
Reviews for Los Angeles Jewelry Buyers
Learn How to Read a GIA Diamond Report
Can I Sell My Diamond Ring Without a Certificate?
Yes, you can sell your diamond ring without a certificate. While it is often easier to sell a ring with a diamond certificate, any highly trained buyer such as Los Angeles Jewelry Buyer will be able to accurately price your diamond without a diamond grading report (certificate).
Generally, the best way to sell an engagement ring is to get a certificate for the center diamond if the diamond is over one carat and is white and with no eye visible inclusions. Because a certificate will cost a minimum of $200, it doesn’t make sense to get a very low quality or tiny diamond certified.
The reason a diamond grading report makes it easier to sell a diamond ring is because it gives the diamond buyer an exact quality grade of your diamond. However, not all diamond grading labs are the same. There are only a handful of respected diamond grading labs whose certificates are widely accepted by Los Angeles diamond buyers. These are as follows:
Gemological Institute of America (GIA)
The Gemological Institute of America (GIA) is the most respected of all diamond grading labs. If you are selling a diamond ring with a GIA certified diamond, a Los Angeles diamond buyer would rarely (if ever) question a GIA certificate.
American Gem Society (AGS)
The American Gem Society (AGS) is also a well-respected diamond lab. The most common diamond certificate they issue is called a “Diamond Quality Document”. The main difference between an AGS and GIA report is that AGS uses a unique zero to ten grading scale.
Diamond High Council (HRD)
The diamond grading reports issued by The Diamond High Council (HRD) in Antwerp are more popular in Europe than in the United States. Therefore, it’s unlikely that your diamond ring will have come with an HRD diamond report. However, they are a respected lab with strict standards, whose reports are viewed as accurate.
International Gemological Institute (IGI)
Diamond reports from the International Gemological Institute (IGI) are also less common in the United States. Their diamond quality standards are also a little looser. So, if you are selling a ring with an IGI certified diamond, a GIA trained professional may grade the diamond slightly lower.
Regardless of whether your diamond ring has a certificate, Los Angeles Jewelry Buyer can evaluate its proper value in today’s market and make you a cash offer immediately. Simply tell us about the diamond ring you wish to sell.
Can I Sell a Ring with a Treated Diamond?
You can sell a diamond ring set with a treated diamond. Several factors such as type of treatment, level of treatment and how noticeable to the naked eye the treatment is will affect the price. The price difference can range from 50% lower to 90% lower value from its equal carat size, color, clarity, and cut untreated counterpart. Also note that diamond grading standards forbid the certification of treated diamonds — except in the case of laser drilling and HPHT, which must be noted on the diamond grading report.
If you take your ring to a Los Angeles diamond buyer, and their buyer mentions any of the following treatments, you will know why the value of your diamond has been reduced.
Fracture Filling :
Resin has been injected into tiny fissures within the diamond to enhance its clarity.
Surface Coating :
A thin layer of colored material has been applied to the diamond to either enhance its color or hide its original color.
While the next two treatments are accepted by GIA, they significantly reduce the value of your diamond.
Laser Drilling :
A laser beam is used to drill a hole into a diamond to reach an inclusion (dark spot). Then acid is used to reduce the color of the inclusion. This treatment enhances the clarity of the diamond.
HPHP Treatment :
High pressure and high heat is applied to the diamond to either reduce the color of the stone, or to change its original color. This includes colored diamonds (usually brown) that have been heated to turn yellow, blue, or other colors. These fancy diamonds have value, but that value is usually under $100 per carat for melee sizes, to $500 per carat for 1 to 2 carat sizes, etc.
Lab Grown Diamonds :
Lab grown diamonds are making a big entry into the market these days. These are worth about 20% of the price of a natural diamond.
With all this in mind, the most valuable diamonds are “natural diamonds” which have not been treated at all. Large natural diamond rings command the highest prices and what Los Angeles diamond buyers are most interested in buying from sellers.
Do You Buy Fancy Diamond Rings?
Yes, we buy all types of diamond rings set with high quality diamonds, as well as diamond necklaces and earrings. While most diamond jewelry is set with white stones that show off flashes of fire and brilliance, there are certain types of colored “fancy” diamonds which are highly valuable. The most expensive of these rings include:
Blue Diamond Rings :
Only about 1 in 200,000 diamonds have a bluish highlight, and the most valuable variety are the stones which show the purest blue hue.
Pink Diamond Rings :
The most valuable colored diamonds in the “pink” category are the ones with the deepest reds—vivid red stones being the most valuable all diamonds.
Orange Diamond Rings :
Diamond buyers look for a very intense “pure” orange in this category. Orange diamonds that do not have a pure hue are much less valuable.
Canary Diamond Rings :
Yellow diamonds that command the highest prices are what are referred to as canary yellow. Like with the color orange, it is an intense and pure hue.
There are other types of colored diamonds used in contemporary diamond rings and fine jewelry. For example, cognac diamonds which show a brownish-orange color have been growing in popularity in recent years. However, any of these diamonds which exhibit a mixed color are much less valuable than fancy diamonds that exhibit a vivid, pure hue.
The best way to get an understanding about the value of your fancy diamond ring and how much you can sell it for is to contact our Los Angeles jewelry appraisers today. We’ll be able to provide you with a free quote for your ring. Then, if you would like to proceed to the next step, we can arrange an appointment for an in-personal appraisal of your diamond and immediate cash offer.
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Sell a Diamond Ring in Los Angeles
Los Angeles Jewelry Buyer makes it easy to sell a diamond ring in Los Angeles for the following reasons:
1. We are local:
There is no shipping required and you can get the transaction done right on the spot.
2. Your diamond engagement ring never leaves your site
We believe in full transparency. Our evaluations are done in front of you while you wait.
3. Our buyer is trained and certified by GIA (Gemological Institute of America).
You can be sure that you are dealing with a professional in the diamond business.
4. We will advise you on the best way to sell an engagement ring even if the diamond is not for our market.
We will gladly refer you to another buyer if the diamond is not for us.
You will never feel pressured to sell your diamond engagement ring.
5. We will never charge you for providing you with verbal information.
It is our mission statement to help you sell your diamond and earn your trust and business.
Would you like more information about us? Click on the following link to learn more reasons why we are the best place to sell diamonds in Los Angeles: The Best Place to Sell Jewelry.
Sell a Diamond Ring in Los Angeles
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