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.
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.
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.
Used jewelry accounts for 78% of the luxury goods second-hand market. Jewelers routinely buy back engagement and wedding rings and are happy to give you a cash payment. They will either clean and polish the ring and resell it, or separate the diamond to use in another design. The precious metal setting is then smelted for bullion and nothing is wasted.
Selling an unwanted diamond engagement ring to a jeweler is certainly a quick and fairly easy way to make some money. The problem is that when you sell an engagement ring back to a jeweler, you will inevitably sell at a significant loss. If you know the original retail value of the ring ( and are in a financial position to decline low offers) you can at least try to hold out for 70% of the original price.
If there are no public holidays, or unavoidable disruptions, your ring will arrive at the EGL laboratory on the morning of Day 2. If you complete the sales agreement that day, your money will be wired to your bank within hours.
But when it comes to selling the rings, the ring with the solitaire setting and the larger diamond will be worth considerably more as it is the diamond, rather than the setting that is valued by jewelry buyers.
These certainly makes it more special to the wearer, but unfortunately when most jewelry purchasers place a value on a ring, they disregard the production value and base the their offer on the center diamond as they will usually remove the diamonds from the setting and melt it down to reuse in other jewelry.
If you can find a local jeweler who will buy your ring, they will normally sell it to a dealer who then will sell it to a wholesaler. Each of these people will be looking to make some profit on their sale, which means that the initial offer that the jeweler will make you is likely to be low.
Put husbands wedding ring on layaway (paid off in 2 payments). Was given wrong ring in the wrong size. Original ring was no where to be found. The employees are not the brightest either.
10 years ago , after my ring was sized and ready for pick up, they tried to give me the wrong ring.
Definitely shop elsewhere. We will never do business with Zales again
Buying online obviously makes selling a diamond much easier. Your cost basis is lower (so it will be easier to recoup your money if you need to sell on the open market) and the retailers give you options for returning and upgrading (so you retain full value for the ring).
From the law aspect, in most states, including Chicago, the engagement ring is a conditional gift, that is, you gift the engagement ring for the promise of marriage. Therefore, after a breakup, the engagement ring should be given back to the gift giver. On the other hand, some states blame the person who broke the engagement. In these states, the faulty person, who broke the engagement, loses the ring.
From the social-norm aspect, the recipient should return the engagement ring to the gift giver in case engagement is called off. Therefore, the gift giver can ask for the gift back. If the couple could not agree on this issue, they can refer to the court to determine who is entitled to keep the ring.
You can return the engagement ring to the original jewelry shop if you have discussed the return policy. Some jewelry shops accept a full refund for non-personalized engagement rings. It is rare to find a jewelry shop that accepts a full refund. The return option is the quickest way to exchange the ring for your money back. Most of the time, though, the engagement ring value is halved once you walk out of the jewelry shop with it. Regardless if your partner wore the ring or not, jewelry shops will consider it as a used one. Therefore, before buying the engagement ring from a jewelry store, please learn about their refunding policy.
Some jewelers may accept to exchange the ring, instead of a refund. If you are no longer comfortable with that ring, you can accept the possibility to exchange your ring for credit. This way, you may not receive your money back, but you can at least have the credit within that store so you can either get a new ring later, or even change it out for some jewelry for yourself!
Selling the unwanted engagement ring to others is a better option. The resale process may take longer than returning the ring. However, you can manage to sell it to others, at a higher price, in comparison to the return option. A real jewelry buyer will pay you what the ring is worth based on the value of ring materials, including the gemstone.
You can try selling your engagement ring through online websites like eBay or even social media platforms. In addition to online resale platforms, jewelers and large retailers will also buy your second-hand engagement rings. Sometimes, you can sell your engagement ring to someone you know. The ring may work well for others.
You can always go back to your original jeweler to have your engagement ring deconstructed. This way, you keep the center stone while giving away your ring. By deconstructing the ring, you will experience some financial loss. However, it is a better idea than saving the engagement ring for your next proposal.
Ultimately, you will need to decide on what will happen with the ring. Failed proposals and divorces are unfortunate events in life, and it takes time to recover. However, you can always recover from financial hits by getting the engagement ring, a new home, with a jeweler or pawn shop.
Jewelry stores will only buy items in high demand, such as necklaces, gold rings, and diamonds. But pawn shops will buy pretty much anything, including specialty pieces like watches, costume jewelry, and trendy collections such as Pandora.
Resizing services at Zales will also depend on the style of the ring you have. For instance, if your engagement ring features full-band stones, patterns, and inlay, it is pretty challenging to resize it by normal means.Any intricate feature interferes with the cutting needed to resize a ring at Zales, and the jeweler might not have enough ring surface to work with.
The waiting time to get your newly sized ring will also depend on the workload of the jeweler. For instance, right after the wedding season, many customers might be sending their rings back to the store to get resized, extending the queue. Special ring size orders like a rare size-4.5 ring might also take some time. Upsizing your engagement ring might also include adding extra metal to your ring, and that requires ample time to finish.
Most of the rings you bought from Zales include a lifetime guaranteed trade-in value. The store will gladly accept trade-ins for solitaire rings, bridal sets, and other diamond-encrusted jewelry. But there are several conditions for ring trade-ins at Zales.
I have a lot of Jewelry from Zales with warranties they refuse to take care of me my wedding ring needs fixed and they said they have no store near me the will not pay for me to take it to my jewelry store in town to have it fixed.
The SSPI Lifetime Jewelry Protection Plan (Plan) will provide the following repairs or replacement necessary to maintain your jewelry under normal conditions. The Plan covers the following repairs necessary as a result of damage due to normal wear and tear or due to a manufacturing defect in materials or workmanship.
Rental or Lease Purchase (LTO Arrangements) If you leased this Plan and the covered merchandise under a Lease-to-Own Arrangement, you are entitled to all non-cash benefits under this Plan until you acquire ownership of this Plan and the covered merchandise. Until you acquire ownership of this Plan and the covered merchandise, any rights to a settlement or cancellation refund under this Plan will belong to the lessor. Upon acquiring ownership of this Plan and the covered merchandise, you are entitled to all benefits under this Plan.
Though not a diamond I would recommend, the James Allen diamond is objectively better than the Zales option and the setting is higher quality. Despite this, the Zales engagement ring is over $700 more expensive. In every case with Zales, you will find low quality jewelry with inexplicably high prices.
If you must build-a-ring with Zales, I'd rather you do it with the Vera Wang custom. The design is beautiful, but the price is steep. Any ring made by a high-end designer will be more expensive than a ring. Granted, you could build a ring similar to that, but you won't have that signature sapphire.
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