If the ring has never been used, what is the positive points?
1. Flawless and in good condition
2. Prepare a complete set when there is buyer (such as box, warranty certificate, invoice etc.). It should give a plus effect on the evaluation.
Customized rings are also able to sell【engraving, initial, name】
Wedding rings and engagement rings with distinctive initials or custom engraving are quite common. Although this design approach is very common, the engraving will probably make it difficult to resell.
However, please be at ease. It does not mean that unable to find a buyer if have engraving.It doesn’t matter if it is engraved or not if you are only selling the materials. The engraving can also be removed during the processing stage if you planned to sell it as a ring. The processing fee may, however, be subtracted from the purchase price by the latter, bringing the total price down from the estimate price. Additionally, if the evaluation finds that the engraving cannot be removed or that doing so would diminish its value, it may be determined that the purchase cannot be made.
Purchase price will vary with the material! Following briefly explains the purchase standardThe material of your wedding or engagement rings will be the main factor considered when selling them. What types of gemstones and metals are used? What volume is used? These will have a significant impact on how much you spend. Following are examples of typical wedding and engagement ring materials and information on how to resell them.
When it comes to the widely loved material of wedding rings and engagement rings, it will be platinum. Platinum re-sell market price is as follows (data from September 2020):
Pt950 …… RM75 / g
Pt900 …… RM71 / g
The metal used in a simple design ring weigh about 4 to 5 g. Multiply the unit price and weight to know will roughly purchase amount.
The gold market is still relatively high compare to previous. (data from September 2020)
Common purity and recycle market rate are as below:
K18 …… RM136 / g
K14 …… RM97 / g
If calculated based on the current market, even if the weight of the ring is the same, the gold ring can be sold at a better price than the platinum ring.
The purchase price of silver is extremely low, which is far from platinum or gold. Silver re-sell price is as below (data from September 2020):
Sv1000 …… RM2.00 / g
Sv925 …… RM1.50 / g
Silver can also calculate the re-sell price by multiplying the metal’s weight and the unit price. But the calculation results show that the price is extremely low compared to platinum or gold.
Diamond second-hand marketEngagement rings and wedding bands frequently contain diamonds. One of the most significant materials during assessment is diamonds. Wedding rings typically contain diamonds that range in size from 0.3 to 0.5 carats on average. Although the price will vary depending on the diamond’s quality, it generally ranges from RM2,500 to RM7,200.
【Popular brands are tends to sell more!】Brand’s influence on the evaluationThe brand is a crucial factor to consider when valuing the ring. There is a good chance that a new buyer can be located right away if the brand is well-known. At this point, the assessment’s primary focus is on how well-liked each item is.
The following are the popular brands:
• Harry Winston
• Van Cleef & Arpels
However, the ring may also reduce the estimated value due to big engraving or unable to appraise.
Why do you always feel that the re-sell price is “too low!”?
When assessing the price of pre-used wedding rings and engagement rings, many people feel disappointed that “so cheap…”.
• Unable to evaluate properly
• Deduct the cost “eliminate engraving” from the purchase amount
• Big gap between the first buying price
It is important to choose a store that can correctly evaluate the value of the item. Among the jewellery stores, some companies “only evaluate the material” or “might estimate lower price to avoid risk”.
Additionally, the price at which wedding rings and engagement rings are purchased is one of their distinguishing features. This is so that other costs, like design fees, are included in addition to the value of the ring metal or gemstones. But only the material’s value is typically assessed at the time of assessment. Many people may believe that the quoted price is low because of this gap.
Where can I sell it?
Pawn shop (mortgage type)
The pawn shop’s business model is to keep valuable items and lend the equivalent amount. The item will be sold if the loan is not repaid. If provided by specialty stores, buying from them is of a different type and can cost more money.
Recycle store, K gold specialty store (Sell type)
Although the second-hand shop offers ring purchases as well, it deals with a wide range of goods, from groceries to daily necessities. Due to this feature, it is likely that the service staff will lack the necessary knowledge and that the product’s value will be calculated incorrectly. The assessment of specialty stores finds no such risk.Selecting the right store is crucial when reselling wedding and engagement rings. There are many different kinds of stores that offer purchase services, but it is advised to visit a store that focuses on those services. Additionally, many consignment stores offer a courier option for purchases, assuaging concerns that “a man would be embarrassed to sell ring by himself…” If you choose to trust the store with your purchase, it is advised that you choose a store that values its customers’ privacy. Additionally, there are numerous specialty shops. Before choosing which store to use, it is advised that you consult someone with experience there.
Have the aforementioned explanations allayed your concerns about selling wedding and engagement rings? I advise you to put your wish to “Wanting to say goodbye to the ring and let go of your worries!” into action. Declare your needs and choose a reputable retailer!