Transcript:
Hi, guys, it sounds that are even made coming at you with another video today. I’m gonna be talking about how to sell your engagement ring before I get to it, though. If you liked the video. If you liked the content on my page, don’t forget to press subscribe with the bell. Besides, you get notified whenever there’s a new video while you’re on it, give it a like with a thumbs up and a comment. Hello, my first tip for how to sell. Your ring is know your goal. What that means is you need to know. Do you want cash at the end of the day or are you looking to upsize your ring? What I mean by that? Are you trying to take that tiny little diamond that you got when you first got engaged and get a bigger diamond or do you just want to sell it outright? For example, If you’ve gone through a door, so you want the ring gone? That would be a situation where you just want the money, or if you’re financially strapped and you want to sell your ring great. You just need some cash. If you’re looking to upsize your ring, there’s probably a different process You’re gonna go about, and I’m gonna talk about both in this video. If you’re just wanting to upsize your ring, what I would suggest is going to a reputable jeweler that you know of and talking to them about up sizing ring possibilities. There’s lots of possibilities out there. Maybe you want to keep the same setting and get a bigger stone. Maybe you want to get a totally new ring altogether. Maybe you want to take the diamonds from your ring. Create a new setting. I know lots of them and that had the halo style when they started and they now want a solitaire, so they’re trying to trade in to get that ring that they like shop around because one store might offer you way more and then the other star, so it’s good to go with the wee more option as well don’t disregard independent jewelers. There’s lots in your city that you can look up and you might get more bang for your buck from them, especially if you promise them, hey. I’m gonna come back and get my jewelry from you because they’re not a big chain. They’re constantly looking to grow their business. So that might be a way that you want to go. If you’re actually looking to sell your ring to make the money great, that’s awesome. My number one tip is to be realistic. What I mean by that is the money that you are ex-fiance or your fiance or your husband or whoever paid for the ring. Not the money you were going to get as well. The money that your ring is valued at like, if you take it for an appraisal, that is not the money you’re going to get talking to lots of people and looking at the market. You are lucky! If you get 50% of the value of your ring, so if someone offers you 50% you are laughing. Give them the ring. Get the money and run in reality. 50% is a great deal on these rings. You’re likely to actually get less than 50% so I think if you go in to your ring selling being realistic, you’re gonna come out happier. If you think that you’re getting your full price for your ring and you don’t, you’re gonna be really disappointed. It’s not gonna be a nice process, so just be realistic when you start. My number 2 suggestion is to avoid pawnshops. We live in an age with so many different ways to sell products. Why are you going to the weird pawn shop on the corner? You will probably get way less for your ring than you could if you went through a different. Avenue, so let’s avoid the pawnshop shop around. So if you’re looking to sell your ring, there’s so many different places you can sell you can sell online. You can sell at a local jeweler you can sell. I mean, you could go through the pawnshop like I just said. Don’t go through the pawn shop You could sell on Facebook. You could sell through the GG. There are so many ways to sell your ring. There’s actual websites that are dedicated to buy and sell wedding stuff and there’s actual sites that are dedicated to buy and sell engagement rings. There’s so many different avenues to go before you settle on an avenue. I would shop around. See what people will pay you for your ring because you want to get the most bang for your buck, And even though I said, you’re lucky to get 50% if there’s someone out there that wants to offer you a hundred percent for your ring, Take their money and run. My next tip in this process is to do a little looking around what other people are listing their ring for. If you have that Halo style ring from 2002 and you’re not really sure what to price it now that it’s 2020 you need to do some searching around, see what other people are listing that ring at try to search as close to your specifications as you can and white gold, yellow gold rose gold that all matters platinum that matters the karat matters in the diamond, obviously the size that cut the clarity at all matters. So you could find a ring that looks very much like yours, But the quality is way way way higher or way way. Way lower, so it’s obviously gonna sell for a different price. You need to know the exact specs on your ring so that you can do a search and you could figure out what people are selling it for, and that will give you a good idea of what to list. Your ring for? My next tip is to understand that this market is flooded with inventory. There is a lot of engagement rings out there. There are a lot of people that offered up an engagement ring in it fell apart, which is sad and there’s a lot of people that have been married and then they go through a divorce and they want that thing gone. There’s other people that just want to sell it because they won’t. They need money. Market is flooded with inventory, knowing that you need to understand that your price needs to be similar to the other people in the market. You are over pricing your ring. Nobody’s gonna bite at it because they can get a ring. They can get your ring for cheaper. You’re pricing it way too low. It’s gonna get scooped up real fast because people can see that all the other rings are priced kind of around here, so you need to make sure that your a ring is priced correctly. My last tip is, maybe you want to sell the diamond and the setting separately. That’s one way that you can go about it. You can actually split it up. You can sell it separately. You might make more money that way. I’m not really sure, but that’s just an option that you have thanks so much for watching, and I hope you have a very spectacular day and happy selling.