By reading our simple yet comprehensive guide, when it’s the right time to sell your ring, you won’t be left wondering what to do and thinking ‘where can I sell my wedding ring’, instead you’ll have the relevant information you need to make an informed, calculated choice as to what you want to do and how you want to do it.
WEDDING RINGS – A SHORT HISTORY
With origins in Europe, the tradition of wearing a wedding ring has spread across the globe. Wedding rings were only ever worn by women but it became customary for both husbands and wives only within the last 100 years or so.
Historically, gold wedding rings were not just a sign of love, but were also linked to the bestowal of ‘earnest money’. In King Edward VI’s prayer book, the words ‘with this ring I thee wed’ are followed with ‘this gold and silver I give thee’, at which point the groom was supposed to hand a leather purse filled with gold and silver coins to the bride.
WHY DO YOU WANT TO SELL YOUR WEDDING RING?
We’ll give you your options on how to sell your ring, but before we do, you need to be clear in your mind why you want to sell it.
You might want to sell it for either emotional reasons or practical reasons, but remember, the sale of a wedding ring is the same as the sale of any other commodity. Take as much time as you need to come to the right decision – for you – about how best to sell your wedding ring.
Finances – Selling a wedding ring is often a quick way to release cash for debts or for other purchases. If you need a fast sale, there are places both on the High Street and on the Internet that will give you instant quotes and cash payments for your wedding ring but be aware that you may have to accept a little less than the ring’s original sale value, as you are now dealing with a second hand item.
Sentiment – Unfortunately, one of the most common reasons for the sale of a wedding ring is through divorce, where neither party wants to keep their ring. It’s also possible that you don’t like it or it doesn’t suit your personality.
Fashion – Wedding rings of all styles, gold, silver or platinum go in and out of style and what was fashionable when you got married may be out of fashion now, so you may be looking to trade your wedding ring for a more up to date version.
Inheritance – Wedding rings are a common item passed on in Wills and rare, vintage and antique wedding rings can fetch very high sums of money.
HOW TO SELL A WEDDING RING
There are pros and cons of selling a wedding ring and it’s not as simple as advertising it and then waiting for a buyer to arrive as you would with, say, an iPad. All iPads are the same. They look the same and they do the same things.
Wedding rings are as different and unique as you are.
- Ensure you have a good knowledge of the market. Whether you have a gold wedding ring, a silver wedding ring or a platinum wedding ring, the prices of all commodities go up and down and if you wait, it won’t necessarily stand to reason that your ring will hugely increase in value but it could mean a few extra pounds in your purse.
- Have your wedding ring valued by an independent jeweller. It instils more confidence in the buyer if you can offer him or her a third-party valuation.
- Have all the relevant paperwork, receipts and any other information supplied at purchase ready for the buyer. They will be required to verify its condition and value.
- If you want to sell your wedding ring on the Internet, take good quality photos with enough magnification to show up the ring’s detail.
Selling Your Wedding Ring at Auction
- As you hear ‘SOLD’ and the bang of the gavel, that’s it, the sale is complete. The pro is that you have done what you went there to do – sell your wedding ring – but the con is that if you’re not happy, there’s nothing you can do.
- You can set a reserve price but if it’s not achieved, the ring won’t sell.
- Auction houses charge fees for both buying and selling items. Make sure you know what your liability is before you start the sale process.
SELLING YOUR WEDDING RING ON THE INTERNET
The online world has opened up the market for selling wedding rings to a massive audience.
- Secure, reliable and 100% free websites like 62days.com give you a fast and easy way to sell your wedding ring.
- Quotes are completely free with 62days, as is all transportation, and you can sleep easy knowing you are backed by TRUSTe, the internet’s leading online privacy provider.
- In addition, you have sixty-two days to change your mind with the option of buying your wedding ring back for the same price you sold it for. There are no hidden handling charges or stealth costs at all.
- Upload a photograph of your wedding ring and we’ll send you a quick, free quote which you can accept or decline.
- As 62days.com is online, very low overheads mean we can give our customers market-leading prices for your wedding ring and other valuables.
- We use secure, trusted payment methods including PayPal, Google Checkout, Neteller, Moneybookers and directly into your bank account.
- Your items are collected and delivered by FedEx and are insured while in transit.
When you’re researching your options to sell your wedding ring online, remember that peer-to-peer sites can often make you feel like you’re playing ‘sell wedding ring’ roulette and can involve risk so be mindful of safety and security issues – particularly those surrounding payments, communication and delivery.
Other Ways to Sell Your Wedding Ring
Pawnbroker – They will offer you instant cash for your wedding ring using a time-limited loan agreement (between 3 – 18 months) with the ring acting as your collateral. If you don’t return and collect your wedding ring within the loan period, ownership reverts back to the pawnbroker. To get the ring back, you will have to repay what they paid you, plus a traditionally high rate of interest.
Antique Dealer – If you have a vintage or antique wedding ring, an antique dealer can value it for you or even want to buy it him or herself. If you ask, they may also put you into contact with other dealers or known buyers of wedding rings but this type of service may well incur high fees.
WHAT YOU SHOULD DO NOW
If you’re set on a particular course of action, the sale process can commence.
If you’d like to see how much you could get for your wedding ring instantly with an expert quotation from 62days, simply upload your item now for a quick, free online offer.