At Diamond Estate Jewelry Buyers, we specialize in purchasing extraordinary ruby rings ordinarily sold at auction houses like Christie’s and Sotheby’s. If you have been wondering how to sell a ruby ring for cash, our estate jewelry buyers can help. In this article, we cover some of the common questions our clients have had when selling a ruby ring for a generous and immediate cash offer.
1) What exactly is a ruby and what does “pigeon’s blood” mean?
Rubies are precious gemstones in the corundum family of gemstones. Their fiery red glow is due to traces of chromium (one of the scarcest elements on Earth). The term “pigeon’s blood” refers to rubies that display the most intense shade of color. Some of the most legendary ruby rings to be sold at auction are from the Mogok Valley in Burma. Recently a ruby ring set with an 8.03-carat cushion-shaped natural “pigeon’s blood” ruby from Burma was sold for over 3 million dollars. It is important to note that a natural “pigeon’s blood” ruby is worth much more than similar one which has been heat treated to achieve that color.
2) What aspects of my ruby ring will increase the cash offer?
There a variety of factors that can impact the cash offer for a ruby ring. The important thing to keep in mind is that the value of your ruby ring is based primarily on the quality, origin, color, and carat size of the ruby. In most cases, the band of your ruby ring will be melted down and sold at scrap prices. The exception to this rule is if you are selling a rare antique ruby ring or it has been manufactured by a highly sought-after fine jewelry brand like Tiffany & Co., Cartier, or Van Cleef & Arpels.
3) Why is my cash offer so much less than the retail price of my ruby ring?
When people sell a ruby ring, they are sometimes surprised when they don’t receive a cash offer closer to the retail price of their ring. When selling a ruby ring, it is important to remember that the retail price of your ruby ring was likely at least triple the manufacturing cost. This usually holds true even if you bought your ruby ring online or at advertised “wholesale” prices.
4) Will I get a cash offer close to the appraisal value of my ruby ring?
In most cases, the answer is no. If your ruby ring came with a “replacement” appraisal or was appraised for insurance purposes, the appraisal value is the retail value of your ruby ring. And, as we mentioned previously, the retail value of a ruby ring is usually 3 times more than the manufacturing cost.
However, if prior to selling your ruby ring, you take the ring to a jewelry appraiser and ask for a re-sell price estimate, you usually will be able to receive a cash offer that is closer to that price, depending on the accuracy of the appraisal.
5) Can I sell my ruby ring for a good price even if it is not accompanied by a lab report?
You can sell ruby ring to our jewelry buyers, regardless of whether or not your ring is accompanied by a lab report. However, if you do have a lab report for your ruby ring from a respected gems lab (such as GIA) do let us know because this will help us to evaluate the ruby’s correct value.
6) How safe is it to sell my ruby ring online?
Selling a ruby ring online to Diamond Estate Jewelry Buyers is highly secure and involves no risk whatsoever. We provide you with free FedEx Overnight shipping and every ruby ring shipped to us is insured to its maximum value by G4S International Logistics, the world’s largest security services provider. If you decline our final cash offer for any reason, we will be happy to ship your ruby ring back to you at our expense. For more information about selling your ruby ring online to our estate buyers, please click on the following link: Sell a Ruby Ring From Home.
Customers who live in Southern California can sell us their ruby ring in person at our main buying office in La Jolla, CA.
7) What about trying to sell my ruby ring on eBay?
While some people have success selling a ruby ring, necklace, or brooch on eBay, many more are not so fortunate. The reason so many people find it hard to sell ruby jewelry on eBay is that the world market is full of synthetic rubies and low quality rubies. Potential buyers are therefore legitimately worried about buying a fake ruby ring and low quality ruby jewelry online. Sellers who are successful at selling a ruby ring on eBay are usually private individuals who have a long track record of successful sales and high ratings, or professional jewelers with a bricks and mortar store.
Arrange a Free Ruby Ring Appraisal
Contact our ruby ring buyers today to arrange a free verbal appraisal of your ruby ring. You can also get the process started only by telling us about the ruby ring you wish to sell below.
Diamond Estate Jewelry Buyers is where to sell a ruby ring, sell an engagement ring, and sell antique fine jewelry for more of the cash that you deserve.