Trade In Your Used Rings for What You Really Want

Rings are not traditionally thought of as a very liquid investment.  They are not easily exchanged for cash since their value often consists of more than just that material value of the metal and/or stone from which they are made. However, if you are considering a trade-in or barter-system you are more likely to be able to leverage a slightly more subjective valuation to get something you really want, whether that is simply a different kind of ring or something else entirely.

Trade with a Friend

More often than not, however, when a person wishes to get rid of a pre-owned engagement ring, they do not know how to go about it beyond simply asking friends or family.   If you are not as concerned about the true value of the ring, but instead prefer to simply trade your ring for something else, you could consider just trading with a friend, acquaintance, or colleague.  But know who you are dealing with.  It is not worth losing a friend over something as superficial as a material asset.

Place An Ad to Get Rid of It

Just like a “Wanted” or “Missing” poster, you can place advertisements or hang flyers to find a new home for your ring.  Especially if you goal is just to get rid of that unwanted jewelry, you can start by canvasing the local neighborhood that you are familiar with.  Or, you can do the equivalent electronically. Use “Buy it Now” and “Make an Offer” options to facilitate and streamline the process of customer interaction.

Exchange It for Some Other Ring

While word-of-mouth recommendations or advice-seeking is invaluable for many things these days, if you are looking to recoup the true value of a used ring, then only a professional appraiser will truly be able to evaluate that.  Additionally, in order to get the true value of your ring back, you won’t be able to beat the targeted traffic and inventory of a good jewelry store.  Jewelry stores will also have a better feel for the market of supply and demand for the particular jewelry piece you are looking to part with.  At the very least, visiting a jewelry store will give you an idea of what is out there and how your jewelry compares.  Here, too, there are online marketplaces for buying, selling or exchanging a used ring, too.

Know What You Really Want Instead

Regardless of what your ring is truly worth, you need to know what you really want to have in exchange for it.  If you just want to get rid of it, then fair value might be less important.  Maybe you would value a nice jacket or purse as a trade in exchange.  Or, maybe you prefer cash.  If so, do you need a particular amount of cash, or is a quick sale more important?  Depending on what you want or need in exchange for your used ring will be your best guide for how to go about getting rid of the ring and getting something you value much more instead. 

Citations:

Helen Hoefele is part of a team of dedicated writers who regularly write quality articles for various blogs and websites.  Follow her @figmentations.

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