If you are researching where to auction an engagement ring online, Diamond Estate Jewelry Buyers can help. We have helped thousands of people around the country get fast and generous cash offers for their engagement rings & bridal jewelry, while eliminating the wait, uncertainty, and substantial fees associated with large auction houses and online engagement ring auctions.
Many people believe that auctioning an engagement ring is the best way to obtain a best cash offer for their items. Beyond traditional auction houses like Christie’s and Sotheby’s, there are internet auction portals like eBay and new online auctions specializing in pre-owned engagement rings.
However, if you have never tried to auction an engagement ring, you may be unaware of all that needs to be considered when making a smart selling decision. So, let’s cover some of the important issues now and explain why thousands of clients have chosen Diamond Estate Jewelry Buyers as the best place to sell an engagement ring and wedding ring.
Auctioning an Engagement Ring at an Auction House
Sellers who wish to auction a high-brand large carat engagement ring that is valued into the five and six figures often look toward a luxury auction house like Christie’s or Bonham’s, who have long traditions of selling expensive jewels like 3+ carat diamond engagement rings.
What these sellers often do not realize is that auction houses charge more than just a commission on the final sales price. When auctioning an engagement ring, there are also other associated fees which can ultimately add up to 40% of the final hammer price.
In other words, after waiting up to six months for the auction to take place, you may end up receiving only 60% of the final sale price (IF your ring sells). And if your engagement ring does not sell for the reserve price, you will actually lose money—because you still will be charged photography and processing fees.
That is why so many sellers of engagement rings and bridal jewelry choose to sell their item(s) to Diamond Estate Jewelry Buyers. We often can provide you with a generous cash offer that comes close to the final amount you might have received when auctioning your engagement ring through a traditional auction house—and there is no wait or hidden fees attached.
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Auctioning an Engagement Ring at an Online Auction
In the past couple years, some online jewelry auctions have emerged which promise to get you more money for your engagement rings. It is always wise to approach these online diamond ring auctions with caution.
Keep in mind that an online jewelry auction is only as good as its network of buyers–and it takes many years (if not decades) to establish a strong international network of large carat engagement ring buyers.
The only online engagement ring auctions worth considering are those who have a deep background in diamond rings that can be easily verified. Their engagement ring “experts” should provide first and last names, so their credentials and experience can be assessed. And the business should be registered with the Better Business Bureau with an A rating.
Also be aware of the potential for inflated initial appraisals when dealing with online auctions that sell engagement rings. An inflated engagement ring appraisal is how an unscrupulous online jewelry auction can convince you to sell your engagement ring with them. The final sales price could be well below that initial ring appraisal, and you could be on the hook for selling your engagement ring at that much lower price.
Check whether the auction website is publishing prices from past engagement ring auctions. While the auction prices you see may be higher than what your local pawn shop or jewelry store offered, it could be thousands of dollars less than what a professional jewelry buyer like DEJB would pay you for your large carat engagement ring and bridal jewelry.
Why is the amount so much less? This is because the vast majority of engagement ring buyers at online auctions are wholesale diamond dealers (buyers)–this includes those increasingly popular online auctions which specialize in engagement rings and claim to put you in direct contact with retail buyers (end users) willing to pay you more for your diamond engagement ring. The vast majority of bids at these engagement ring auctions are not from the public (individual consumers) but actually wholesale diamond dealers.
So to summarize the situation, when you deal with any online auction that claims to specialize in diamond engagement rings, you are frequently just presenting your items to a number of wholesale dealers (buyers), who will pay you the wholesale dealer price, minus the commission and fees taken by the auction. When all is said and done, you are basically adding one more middle man between you (the seller), and the wholesale dealer (the buyer), which ends in you (the seller) getting substantially less money for your engagement ring than if you had gone directly to a high-paying honest diamond buyer like Diamond Estate Jewelry Buyers.
How do we know all this? Because we work with clients every week who have tried for months to sell their engagement ring via one of these online jewelry auctions–and who are shocked at how much higher our offer was compared to what they had received and almost accepted.
When you sell your engagement ring to Diamond Estate Jewelry Buyers, you eliminate the middle man and all of the uncertainty that comes with auctioning your diamond ring. Our owner Carl Blackburn is an internationally-recognized fine jewelry designer and one of the most trusted buyers of large carat engagement rings in the country. He and his team bring 50+ years of combined expertise to the table when purchasing your valuable engagement ring. We tell you exactly how much your engagement ring is worth (explaining in detail how we have arrived at that price). And we pay you immediately in cash.
Should I Auction My Engagement Ring on eBay?
When it comes to auctioning an engagement ring on eBay, this generally works best only for those who are established fine jewelers who have bricks-and-mortar businesses.
There are simply too many fake diamonds engagement rings on the market. Thus the potential for fraud is too great for most buyers to risk spending thousands of dollars on an engagement ring on eBay—even with the increasing safeguards that eBay has put into place.
Sellers should also take into account the hassle and time involved in setting up a proper and professional looking eBay listing for their engagement ring—including quality photographs, well-written text descriptions, etc.
In contrast, selling engagement ring to Diamond Estate Jewelry Buyers is very easy and fast. By using our highly-secure Sell From Home service you can be guaranteed a fair and prompt cash offer for your engagement ring, while having complete confidence in the security and confidentially of the process.
Let us help you sell your engagement ring and other estate jewelry today. Call our friendly and knowledgeable staff to arrange a free, no obligation, appraisal of your valuable engagement ring, wedding ring, and bridal jewelry.
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Diamond Estate Jewelry Buyers makes premium cash offers for diamond engagement rings from all leading bridal jewelry brands, including Cartier, Tiffany & Co., Philip Press, Tacori, Michael B, Simon G., Scott Kay, Michael Beaudry, Christopher Design, Ritani, Jack Kelege, A. Jaffe, Jeff Cooper, Neil Lane, Verragio, Graff, and De Beers. We serve clients nationwide.