How to Sell A Diamond or Engagement Ring: A Pro Insider Guide

Craigslist is an incredible place to sell a diamond or engagement ring. People prefer local deals and are often looking for good bargains, so you might have your best luck here. However, when selling your jewelry here, please be patient; it might take time for the right buyer to show up.

When you sell on Craigslist, please prioritize your safety and watch out for scammers. If someone suggests an online transaction on Craigslist, it's likely a scam, so it's best to avoid it. Also, please ensure you meet potential buyers in a safe location, such as a police station or a trusted jeweler.

If you agree to meet at a jewelry store, make sure it is a reputable establishment. Some jewelers may try to discourage potential buyers from acquiring your stone in the hope of selling them their own goods.

Con

The biggest con is that it might take months to find the right buyer, especially if you need the money urgently. 

Facebook is a great platform for selling products locally, making it an excellent option for selling your engagement ring or jewelry in your area. One significant advantage is that it allows you to view the individual's profile, see when they created the account, and identify their friends and acquaintances. This provides an easy way to verify if the individual is legitimate.

Like Craigslist, it's important to avoid online transactions through the marketplace on Facebook. Instead, arrange to meet the individual at a secure location that ensures the safety of both parties involved.

Con

Like Craigslist, finding the right buyer on Facebook may take some time. Some individuals might also potentially waste your time.

eBay is a well-known platform for selling pre-owned jewelry, clothing, or electronics items. eBay has a well-established buyer base for fine jewelry and diamonds, with some buyers being diamond dealers who regularly visit the site in search of good bargains.

There are two ways you can go about selling your jewelry on eBay. You can list it for a reasonable, competitive fixed price or wait until you find the right buyer. If you are in a rush, we recommend auctioning it with a low starting bid and allowing people to bid competitively. This way, you might get the most money for your item.

When listing your jewelry on eBay through an auction, provide as much detail as possible, including certification and other relevant information. This will help potential buyers feel confident and encourage them to bid their maximum amount.

Pros and Cons

If you are in a rush, you might get quick cash. However, you might also not get the most money. Also, eBay listing and commission fees on the item after the sale is high. 

It is always a good idea to visit your local jewelers and explore whether they would be interested in purchasing your item. Jewelers often need to manage their inventories and cash flow and may be open to adding quality items to their collections. Additionally, they might be willing to pay more if their stock is running low. Moreover, they often aim to build relationships within their community and may want to help.

If you decide to pursue this option, you can identify the most reputable jewelers in your area and visit at least 3-4 of them before deciding which offer to accept. This will help you better understand your item's potential value and make an informed decision.

Cons

Finding the right jeweler might take more time. Also, some individuals are naturally not good at selling and might find the experience awkward. 

Jewelers and dealers typically aim to make a profit and may hesitate to offer the total value of your item. They also prefer not to tie up their cash for extended periods. Therefore, it's in your best interest to find a regular buyer if possible. However, selling through eBay auctions and to local jewelers remains a viable option.

If you sell directly to a consumer, be prepared to exercise patience until the right buyer comes along. Finally, your success in selling the diamond or engagement ring at the right price will depend on its quality and the related grading report/certification.