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Blog » How to Sell a Diamond Engagement Ring

How to Sell a Diamond Engagement Ring

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.

78 Responses to “How to Sell a Diamond Engagement Ring”

  1. Trish Says:

    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

  2. Nikhil Says:

    Try http://www.gemstudieslaboratory.com.au/

  3. Stefan Says:

    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

  4. Nikhil Says:

    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.

  5. Michael Says:

    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.

  6. Nikhil Says:

    Hi Michael

    Have you tried approaching Charles Rose about it?

  7. sunny Says:

    hi
    i am having one dimond with me and i want to sell it. where i can sell. i m in melbourne

  8. Nikhil Says:

    Maybe try Klepners - http://www.klepners.com.au

  9. Monica Says:

    hi

    I am having diamond rings with me and I want to sell it, where i can sell in Perth or WA ?
    thanks

  10. fadi Says:

    hi where can i find diamond store in sydney that i can sell it my diamond ring
    thanks

  11. Ninette cilia Says:

    where can I sell my diamond ring in Melbourne/

  12. Ashleigh Says:

    Hi there, do you know of anywhere in Brisbane that will certify and sell my diamond engagment ring?

  13. Claudia Says:

    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?

  14. Nikhil Says:

    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.

  15. Nicole Says:

    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?

  16. Nikhil Says:

    In Perth, try Smith and Sinclair on the corner of Pier and Murray Sreets.

  17. kylie Says:

    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?

  18. Nikhil Says:

    Hi Kylie

    Try Klepners in Little Collins St (http://www.klepners.com.au). They specialise in antique jewellery.

  19. kylie Says:

    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?

  20. Nikhil Says:

    Yes, they specialise in antique jewellery.

  21. danielle Says:

    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.

  22. Nikhil Says:

    Hi Danielle

    Try DCLA Diamond Exchange. Ask for Roy and tell them I sent you.

  23. Kelly Says:

    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.

  24. Kerry Says:

    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

  25. Julia Diamond Says:

    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.

  26. kim Says:

    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

  27. lynette durham Says:

    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

  28. Adam Says:

    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.

  29. 2caratdiamondengagementrings Says:

    Thank you for sharing. I like very much. I will come back again. I hope you will write articles to read as good.

  30. Abraham Says:

    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

  31. Rochelle Says:

    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

  32. Aimee Says:

    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

  33. danielle Says:

    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

  34. Suzi Minobe Says:

    Is there a place in Brisbane that buys used diamond engagement rings

  35. Beverley Says:

    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

  36. Kylie Says:

    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

  37. Jessie Says:

    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.

  38. Nikhil Says:

    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.

  39. Kelly Says:

    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!

  40. Nikhil Says:

    Try http://www.jaa.com.au/sellingadvice/selling-advice

  41. Paul Says:

    Hi Folks. Where is the best place to sell a diamond engagement ring in brisbane
    Thanks

  42. elodie Says:

    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:)

  43. Nikhil Says:

    Try Klepner’s at 324 Little Collins St.

  44. Gabby Says:

    Hi
    Where can I sell my engagement ring in Canberra?

  45. ABRAHAM Says:

    TOP Service,Top Prices,Happy customers

  46. denise Says:

    Please need a place in Brisbane that buys diamond rings

  47. sian Says:

    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?

  48. Janelle hammelswang Says:

    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.

  49. JOEL Says:

    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

  50. Suzie Says:

    Hello,
    I am hoping you can assist,i have an engagement ring, unworn but tried on, 18 carat white gold
    0.54ct D/VVS2 (GIA certified) Brilliant cut centre stone, with two rows of 6 brilliant cut diamonds running up either side of the band. Any suggestions as where in Adelaide i can sell? thanks

  51. Dani Stanton Dani Stanton Says:

    Hi, i think the best place to sell gold is www.postyourgold.com.au i’ve used them a few times now and they pay the best rate Australia wide. They have a guarantee too.

  52. Lisa Tancred Says:

    I have 2 sterling silver pendants both from Tiffany&co, one is worth $170 on the website and the other is worth $580 and its got a real diamond in it. Iam wanting to sell both for the best reasonable price as they are only 5 months old. Doesanyone know the best place i can sell them?

  53. Abraham Says:

    There a place in the Grace hotel that buys all your Unwanted Gold ,Diamonds and engagement sets at very good prices you should see them and speak to a gentleman name abraham 02-92998070

  54. john t Says:

    Hi Suzie,
    How much u r looking to sell the ring, I am interested the diamond only, pls call me 0406703397 if possible, thanks

  55. chris Says:

    Yes, I would agree that the place in the Grace Hotel is a pretty good place. I got a good price.
    thanks Jogia Diamonds

  56. Syra Says:

    Hi I have a 0.8ct D vvs2 hearts and arrows round brilliant diamond with excellent cut with igi cert. Could you please recommend me somewhere I can sell the diamond in Perth? It actually sits in a platinum ring with a pave band thinning towards the centre of the diamond, a daniel k design. I could take it back to the jeweler but I thought if try selling it myself I may get a cheaper diamond upgrade elsewhere.

  57. wanda Says:

    hi i have a wedding band and a engagment ring purchesed from bell & brunt adelaide discription is as follows.
    Beautiful diamond engagement ring and wedding band. Comes with Valuation Certificate from Bell and Brunt jewellers. Diamonds: 1 x .34 ct. brilliant, G-H/VVS. 1 x .17 ct. brilliant, G-H/VVS

    Setting: Claws - crossover design.

    Mount: 18 ct. yellow gold, handmade
    where could i sell these rings in adelaide yhey havent been valued since 1994 and was valued at $3000.00 then would like to sell these as no longer needed

  58. Tasi Says:

    Morning,
    I have a Platinum 950, diamond ring with 5x 0.50 carat round cut diamonds paveset setting.
    Carat- 2.5 kt total
    Cut- Brilliant Round cut
    Colour-E
    Clarity-F
    Cutlet-Excellent
    Finish-Excellent
    Symmetry-Excellent
    Am looking to sell to save my home. Hardtimes have come my way. The info on your site is next to none. Unfortunately I am in NZD and there is no sites such as yours, based here with comprehensive help in selling diamonds. Certified by An independant Jeweller, but seeking second opinion on whether/where best place/business to sell to. Let alone in NZL! Was advised may be best to sell platinum loose diamonds seperately. Thoughts?
    Best Regards

  59. Nikhil Says:

    Hi Tasi

    Considering they sound like high quality diamonds, you should look at getting proper independent certification for the diamonds. Whilst in would necessitate taking the diamonds out of the ring and possibly destroying the ring, it would be a lot easier to sell the diamonds loose with proper certification.

    To get independent certification, you should try Gemlab in Auckland (www.gemlab.co.nz) or find a jeweller who can send them to GIA for certification, which will be a lot more expensive.

  60. Liz Hamilton Says:

    I have a very modern set diamond and gold ring that has a written valuation of $17,000.00
    This valuation was done in 1998. Gold prices have increased dramtaically since then but I am wondering where to go to sell it and what price I should expect to get
    I live on the Gold Coast Australia

  61. Kat Says:

    Hi,

    Thanks for the above article and information. It’s been the most helpful I’ve read so far!

    I have a round cut brilliant,
    1 carat,
    E color,
    good cut and polish,
    and fair symmetry diamond set in white platinum gold.

    Any ideas where in Sydney might be good to take it for sale?

    Thanks in advance.

  62. Nikhil Says:

    Hi Kat

    Try DCLA Diamond Exchange (www.dcladiamondexchange.com.au) or Grace City Jewellers (www.gracecityjewellers.com.au).

  63. James Says:

    I bought my fiance an engagement ring from LJ, but long story short, there is no need for it now.

    Where is the best place to sell it in Sydney?

    Thanks
    James

  64. Nikhil Says:

    Try going back to LJ, as they should be able to help you. Otherwise, as suggested before try DCLA Diamond Exchange or Grace City Jewellers.

  65. karan Says:

    Hi
    I want some loose diamonds approximately 100carat(0.01ct to 0.50ct) in India how plz suggest me
    Thanks

  66. karan Says:

    Sorry I want sell

  67. Nikhil Says:

    Hi Karan

    Try visiting your local diamond bourse.

  68. Karolina Says:

    Hi, I have a round brilliant diamond: 1.752 FSI1 set in a six ‘floral design’ claw in white gold and the band is in yellow. I’m looking to sell the engagement ring and upgrade. Any suggestions on where I can do this in Adelaide? Thanks, Karolina

  69. Lou Says:

    Hi, where in Melbourne can I take my diamond ring to be bought off me? I have the valuation certificate it came with.

  70. Nikhil Says:

    Try taking it back to the place you bought it from first.

  71. Geet Says:

    Hi Nikhil,

    I live in Brisbane and I have some diamonds in India.Can you please suggest me how can I sell them here?

  72. Avia Says:

    Hi Nikhil, on you recommendation I took my GIA certified square modified brilliant to Grace jewellers. There I was told the quality wasn’t correct and was offered 20% of the original price. I bought the diamond from express diamonds in Sydney you may know them, Do you think it is posible the stone is two colours lower and one purity lower ? I think I am being scammed. So I have called a dealer and ill take it to them to check the price and quality. This is all very upsetting. Anyway I thank you for the article and recommendation but not that happy with the result. If I find out he has lied to me about the quality and was trying to scam me I will let you know, before I take it further. Thanks again. Avia.

  73. Nikhil Says:

    Hi Avia

    It might be best to take it to an indepedent gemmologist before selling the diamond.

  74. Avia Says:

    Hi Nikhil, thanks for the advice my jeweller sent the stone to a valuer called Bill Secos and he said the stone is correctly graded by the GIA, . He also said that this has happened before with this very company, Sorry but this confirms my feeling that Grace jewellers is not doing right by me. And l feel that it is a disgrace to lie about the quality. I have sent in all the paperwork and details to Fair-trading they said they have been made aware of this companies dealings and have multiple complaints. Thanks for you advice but I think your recommending them is a poor choice.

  75. Nicole Says:

    Hi, I have an exquisite ladies engagement ring with matching wedding band I’m looking at selling. The engagement ring is 18ct White and Rose gold with a .71ct G Vs Eternity Hearts and Arrows Diamond (Laser inscribed with certificate), with 18 x .16 Natural Pink Vs-Si Diamonds and 10 x .35ct G Vs-Si Brilliant cut Diamonds, valued at $11K in 2005. The Ladies wedding ring is 18ct White gold, 3mm wide and contains 18 x .31ct G Vs Brilliant cut Diamonds in a channel set, valued at $1,900 in 2006. Could you recommend the best place to sell this please? I’m based in Brisbane. Thank you for your time :)

  76. Nicole Says:

    Sorry, forgot to note that the main diamond in the engagement ring is a G VS2 at .71 ct.

  77. Stacey Says:

    Beverley 2011 Do u still have your 2.3 carat ring, how much do you want for the ring.

  78. Stacey Says:

    Danielle 2011, how much do you want for you ring.

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