Selling Your Old Engagement Ring

Not everything in life goes according to the plan. Entering into a relationship with the best intentions of building a future together is no guarantee that the wedding vows will actually be exchanged. There can be a long list of reasons why an engagement is broken off. After a wedding proposal is called off, you might ask yourself, “Should I sell my diamond ring?” That would be an effective way to find closure for the breakup of that relationship, but there are a few things to consider before you start the search for “the best place to sell my diamonds in Los Angeles.”

Ownership

You might be thinking the following: “I can sell my diamond ring because it is in my possession.” The law considers an engagement ring as a token given in exchange for the contemplation of marriage. If that marriage contract is broken, then the ring goes back to the original owner, which is the person who bought the ring. There might be a situation where the buyer of the ring wants to willingly surrender ownership. If that is the case, then you should get that in writing. Once that happens, you can find a diamond dealer Los Angeles and move on to the next step.

What to Avoid

If you were to ask a Los Angeles diamond buyer “where is the best place to sell my diamonds in Los Angeles,” then they would probably tell you to avoid a pawn shop. Despite what a pawnbroker might claim, anyone working in a pawn shop is not a diamond expert. If they were, then they’d be working for a diamond dealer Los Angeles. You should also avoid trying to sell your engagement online. A private sale won’t have the guarantee that you’ll be getting a fair price.

The Diamond and the Setting

When asking yourself, “How do I sell my jewelry?” you should consider separating the components of the engagement ring. Those components are the diamond and the setting. If you know the diamond is genuine, then you can find a reputable diamond dealer Los Angeles who will offer you a fair market price. They might also make an offer in the setting.

If the ring was given to you as a gift and you aren’t sure about its authenticity, then there is a simple test. Remove the diamond from the setting and drop it into a glass of water. A real diamond will sink in the water. A fake one will float.

If today is the day that you decide “I’m selling my jewelry,” then you want to take the time to make sure you’re getting the best price. That can only come from a legitimate Los Angeles diamond buyer.