Judging by classified ads like those in The Trading Post, there are always people selling diamond engagement rings. The most common cause is that the engagement or wedding was called off, leaving the would-be bride or groom with an expensive ring, along with all the emotional baggage attached to the ring.
We actually get quite a few calls and emails from people wanting to sell their diamond engagement ring or jewellery. Sometimes they’ve upgraded the diamond, other times they need the money, but most commonly, the engagement has been called off.
Unfortunately, none of these calls or emails have ever resulted in us buying the diamond or engagement ring, and the advice we usually give people is to either take it to a valuer and speak to them or contact the store you bought it from, as they most likely deal in the kind and quality of ring that you have previously bought from them.
However, it’s not that we’re adverse to buying diamonds from the public, it’s just that none of the diamond offered to us would suit our inventory or our target market. For example, if someone came off the street today, and offered to sell us a 1ct F/SI1, AGS 000, we’d have no hesitation to buy it - and we’d pay good money for it. However, the story would be different if someone came off the street and offered us a 1ct H/VS1, very good cut, certified by a lab we’d never heard of before.
Good Selling Begins With Good Buying
Buying a diamond engagement ring is usually a very emotional purchase, but that doesn’t mean you have to get ripped off by buying a ring that looks good in the store or with a nice design, but is worthless. Below are some tips that I think I would consider if I was buying a diamond engagement ring:
- Certificates add a lot of resale value to your diamond, especially GIA or AGS. However, that shouldn’t preclude certificates from other labs or uncertified stones, as long as they are accurately graded. You can confirm the grading by going to an independent appraiser.
- Make sure the diamond is eye-clean if buying an SI1 or SI2 graded stone.
- Learn a little about diamond pricing in general. Browse our site, as well as others to get an idea as to what the wholesale price for diamonds is, as well as the differences in pricing between colour and clarity grades are as well as the proportions.
- Don’t buy a pre-made ring solely based on the design of the ring. Put some effort into your purchase and buy the diamond separately, and then think about the ring.
- Remember, valuations are for insurance purposes, shouldn’t be given prior to purchase, and are not grading reports!
What Your Diamond Engagement Ring is Worth
On the free and open market, your diamond engagement ring is worth the wholesale price of the diamond(s) plus the amount of gold or platinum used in the ring.
The easiest way for a consumer to buy a ring close to the wholesale price is to buy from an online diamond broker (like our International Selection) and then buying a cast ring. This effectively eliminates the overheads or maintaining and stocking a retail store, and then goes one step further and eliminates the cost and wastage incurred when hand-making a ring.
However, the majority of people do not do this, and therefore, engagement ring buyers need to accept that what they are buying may well worth 1/2 or even 1/3 of what they are paying.
How to Sell Your Diamond Engagement Ring
Selling a diamond engagement ring is not an easy thing to do. If you have bought well (see the tips above), it makes it a lot easier, but most commonly, people have no idea as to the proportions of their diamond and/or have inaccurate grades. Therefore, it is best to give your diamond to a reputable local lab (Auscert & BGL in Melbourne and GSL in Sydney), or if you’re not in Sydney or Melbourne, ask a local dealer to send the diamond to them. If you think it’s worth it, then you can also send the diamond to an international lab such as the GIA (again, best to ask a dealer to do this).
The next step is to find an accurate wholesale price for your diamond. The easiest way to do this is to look at our International Selection which are diamonds listed at an international wholesale price, plus a small margin. Keep in mind that cut and proportions make a huge difference, so try to find a diamond as close as possible to your one.
Once you have your diamond certified, and an accurate wholesale price, then you are ready to sell. The “I’m Feeling Lucky” option is to advertise via classifieds or even Ebay, however, success may be limited as people generally don’t want to buy engagement rings from broken engagements. You will also need to get the ring professionally polished as well.
If you’ve had no luck selling via the classifieds, then it’s time to get help from a dealer or retailer. First stop would be to ask the store where you bought it from, as common sense says that they’d probably be the best people to sell it for you. However, if they are not helpful, then ask some dealers in your area, or even online, remembering that you do have a near-wholesale price. However, don’t expect cash, as dealers may take the diamond or ring on consignment, meaning they will pay you when they sell it.
Alternatives to Selling
Sometimes, it may be best to keep the diamond, buy another and make a pair of earrings. Alternatively, you could melt the gold and make a nice pendant. You may even want to try your luck and hold on to the diamond and hope that diamond prices will rise, or the Australian dollar will fall.
AUD 
April 29th, 2009 at 12:39 pm
Hi,
Thanks for the information above. I tried to click on the GSL link above and it would not connect.
Is there another place in Sydney that I could get a certificate for my diamond?
Kind Regards,
Trish
April 29th, 2009 at 2:47 pm
Try http://www.gemstudieslaboratory.com.au/
September 3rd, 2009 at 8:54 am
Hi, Can you recommend any places in Sydney that do buy Diamond Engagement Rings from the Public or somewhere that will sell it for me for a fee?
Thankyou
September 3rd, 2009 at 5:26 pm
Hi Stefan
Try DCLA Diamond Exchange http://www.dcladiamondexchange.com.au
They are good people and can sell the diamond for you. The also have a pawnbrokering licence.
December 9th, 2009 at 9:20 pm
Hey there can you recommend a place to sell this diamond ring in Melbourne
I have tried ebay a few times now but no luck. I am selling it for less than half price.
December 10th, 2009 at 5:56 pm
Hi Michael
Have you tried approaching Charles Rose about it?
January 13th, 2010 at 2:05 pm
hi
i am having one dimond with me and i want to sell it. where i can sell. i m in melbourne
January 13th, 2010 at 5:13 pm
Maybe try Klepners - http://www.klepners.com.au
February 19th, 2010 at 9:24 am
hi
I am having diamond rings with me and I want to sell it, where i can sell in Perth or WA ?
thanks
March 12th, 2010 at 8:03 pm
hi where can i find diamond store in sydney that i can sell it my diamond ring
thanks
June 17th, 2010 at 12:38 pm
where can I sell my diamond ring in Melbourne/
July 10th, 2010 at 4:19 pm
Hi there, do you know of anywhere in Brisbane that will certify and sell my diamond engagment ring?
July 22nd, 2010 at 6:33 pm
Hello, I have a platinum engagement ring, it is engraved and used. Should I remove the engraving before attempting to sell it? or should I sell the diamond separately and keep the platinum?
July 23rd, 2010 at 8:54 am
Yes, definitely remove the engraving and get it polished before attempting to sell it. If the diamond is certified and high quality, then yes, it may be worth selling the diamond separately.
September 20th, 2010 at 10:55 pm
Hi I have a never worn engagemant ring and has harly even come out the box where could i sell it in perth or is ebay my best option?
September 21st, 2010 at 10:46 am
In Perth, try Smith and Sinclair on the corner of Pier and Murray Sreets.
October 19th, 2010 at 9:02 am
Hi there, I have a 1.5ct August Vintage Cushion set in a Harry Winston style micropave halo. It was purchased a few months ago (from usa) and has never been taken out of the box. We have decided the house is more important and we are going to sell it before it even gets out of the box. any suggestons on where to take this in Melbourne?
October 19th, 2010 at 10:15 am
Hi Kylie
Try Klepners in Little Collins St (http://www.klepners.com.au). They specialise in antique jewellery.
October 19th, 2010 at 10:34 am
thanks so much. The August Vintage Cushion is a new stone that is cut like a antique stone and have incredible bold flashes and fire..(not sure if you have heard of them?? Would this store still be appropriete to go to?
October 20th, 2010 at 1:03 pm
Yes, they specialise in antique jewellery.
October 29th, 2010 at 1:12 pm
Hi there, I have 2 diamonds both 1/2 carats F/VS1 and F/VVS2 certified by DCLA - I am wanting to sell them - any ideas where I could sell them in Brisbane area and an indication of what they might be worth.
Many thanks.
October 29th, 2010 at 4:16 pm
Hi Danielle
Try DCLA Diamond Exchange. Ask for Roy and tell them I sent you.
November 7th, 2010 at 5:37 pm
Hi, I am not sure where to go to sell my engagement ring in Melbourne. The only specs i have for the ring are as follows:
18ct BT 1.00ct PC Solitaire JKL/SI-PI Any adivce would be greatly appreciated.
December 9th, 2010 at 3:21 pm
Hi there
I have an 18ct white gold wedding ring -
123=4.28ct round brilliant cut diamonds set in a pave setting on a high domed ring.
G/H Clarity
Total weight 15.87 grams.
Any suggestions as to where I might be able to sell it in Melbourne?
Thanks
Kerry
December 23rd, 2010 at 3:43 am
The best place for you to sell a rough diamond is http://TheDiamondLining.com . They will be able to off you more for your diamond than anyone else because they have access to the knowledge and equipment necessary to cut and polish your stone. They have the ability to turn a rough stone into a finished and polished diamond so they should be able to offer you more than anyone else would be able to.
January 1st, 2011 at 12:24 pm
Hi,
i have an engagement ring, unworn but tried on,
18 carat white gold
1.01 ct F/VS2 princess cut centre stone, .20ct of brilliant cut diamonds running up either side of the band. Handcrafted. Beautiful piece of jewellery. Any suggestions as where in sydney i can sell? thanks
January 10th, 2011 at 6:01 am
Hi,
I have an engagement ring that I want to sell
18K thick white gold band
1.54ct D/SI2 EGL certified brilliant solitaire.
Any ideas where to sell in Melbourne?
Thanks,
Lynette
January 17th, 2011 at 12:02 pm
I have a full wedding ring set including an eternity ring. Paid over $2k per ring. Engagment ring one centre Diamond 0.35 and 51 small diamonds surrounding total 0f 0.65 ct. Wedding bands are .95 same as eternity ring. 54 diamonds each. Any ideas on where to sell it in Brisbane? 14ct Gold band and setting.
January 21st, 2011 at 2:59 pm
Thank you for sharing. I like very much. I will come back again. I hope you will write articles to read as good.
February 8th, 2011 at 9:27 am
Try a place in sydney Called Grace city jewellers if you are looking at selling some diamonds he got voted Number 1 Diamond and Gold and buying centre In sydney by Choice Magazine
February 18th, 2011 at 12:03 pm
Hi,
I have my mums engagement ring bought from a sydney jeweller in 1975. We’v had it valued and tried to sell on ebay but were scammed each and every time. We live in bathurst and desperately need to sell it for payments on our own upcomming wedding- happy to travel to sydney if need be…
Thank u
February 18th, 2011 at 5:27 pm
Hi, i have a 18k white gold wedding set, the engagement ring has a dcla diamond certificate and the wedding band a valuation certificate. i’m in brisbane and am wanting to sell them… Is there anywhere in brisbane that i can try? Ebay is no good and i can’t bring myself to ask cash converters how much they would give me… Hope to hear from you soon…
Thanks.. Aimee
March 9th, 2011 at 10:16 am
hi i have a 2.39 ct dimond ring thats 14k gold and P3 clarity. it has 1 inclusion and im just wondering where would be best to sell it? i had it valued at the australian gem testing in collins street and have tried selling it on ebay but no luck? any sugestions would be much appreciated
March 24th, 2011 at 1:32 pm
Is there a place in Brisbane that buys used diamond engagement rings
April 29th, 2011 at 5:13 pm
I have a platimum three wire four and tow claw set engagement style ring for sale.
Diamond round brilliant cut 2.35 carats estimated weight measuring 8.57 x 8.57 x 5.00mm Colour J-K VS1
Fantastic cut makes ring sparkle - has side diamonds also. Any idea where it can be sold? Last valuation for insurance purposes in 2003 was 31K
April 30th, 2011 at 12:59 pm
Hi,
I have a gorgous 1.02ct Brilliant cut G-VS2 excellent to very good cut diamond that i would like to sell. EGL certified and comes with all its certifications of authenticity, brought directly from universal diamonds, the diamond is originally found in Belguim. UGS Valuation of this ring is $12,250.00
May 9th, 2011 at 12:27 pm
Hi,
I have a Tiffany & Co. platinum and solitaire diamond ring. One round brilliant cut diamond with a total of carat weight of 0.73, in I colour and VVS1 clarity. Retail Valuation replacement AUD$8500. Any idea on where I could sell this? Any idea’s where I could sell this? I have listed it on eBay but no such luck in selling it as yet.
May 9th, 2011 at 2:46 pm
Try a good jeweller with a secondhand dealers licence in your local area. Tiffany pieces are quite sort after and maintain their value a lot more than jewellery bought at say a chain store.
June 2nd, 2011 at 12:19 pm
Hi there, I am hoping you can assist. I purchased a hand crafted diamond engagement ring from Bell & Brunt in Adelaide - it is a 1.54 carat, brilliant cut diamond, VS1, Colour H. It has an 18 carat yellow gold pirouette claw setting. I am now looking to sell it to a jeweller & wondered if you could kindly direct me to a reputable jeweller in Brisbane (I have recently relocated from Adelaide)? Could you also give me an indication of what price I may expect? All the best, thanks!
June 7th, 2011 at 1:26 pm
Try http://www.jaa.com.au/sellingadvice/selling-advice
June 13th, 2011 at 7:38 am
Hi Folks. Where is the best place to sell a diamond engagement ring in brisbane
Thanks
July 8th, 2011 at 8:57 pm
Hi there. I have a hand crafted, antique diamond ring with 0.39 ct brilliant cut diamond, clarity SI, colour GH, one claw set flanked by 6 swiss cut diamonds, clarity SI, colour I-J 0.10ct. Embedded in 18ct yellow gold, 18ct white gold and palladium. I live in Melbourne and wish to sell it. Can you please suggest a suitable place to contact? Many thanks:)
July 11th, 2011 at 10:00 am
Try Klepner’s at 324 Little Collins St.
August 23rd, 2011 at 12:13 am
Hi
Where can I sell my engagement ring in Canberra?
September 3rd, 2011 at 8:51 am
TOP Service,Top Prices,Happy customers
September 21st, 2011 at 10:07 am
Please need a place in Brisbane that buys diamond rings
September 26th, 2011 at 4:27 pm
Hi,
I have a .9 carat brilliant cut, platinum-set ring. The stone is over 60 years old but has been made into a new setting copied from a Tiffany’s setting. Where can I sell this in the Newcastle/Hunter region?
November 12th, 2011 at 7:26 am
I have 3 diamond rings one modern setting and 2 are an antique circa 1968-1970 setting set..i have had both very recently valued with certificate of cut size shape weight, all 3 rings have colaborated a considerable amount…my question is i live in Townsville..what would be the best way to go about selling these and receiving the valued amount. Thank you.
January 25th, 2012 at 9:31 am
Hey Guys there a place in Brisbane named sell gold australia they pay top dollar on all your diamonds , gold, watches and anything of value there located in the anzac square arcade