So you’ve met the girl of your dreams; things were going so well, that you went out, bought an engagement ring, and got on bended knee.
You thought you were doing the right thing at the time, but a couple of months down the line and the cracks have started to show, you are arguing over basic randomness, you aggravate each other to no end with your bad habits, and so you come to a mutual agreement that this relationship just isn’t going to work.
Your partner gives the ring back and now you’re stuck with it.
Or maybe the answer was just “No”. We know that’s unfortunate (it’s not the end of life though), but at the end of the day, you have the ring, and not sure what to do with it.
Will the jewelers (including the top retailers) buy the engagement ring you purchased from them? Let’s find out.
Will Jewelry Stores Buy Back a Ring?
Let’s skip the top online retailers for a minute here.
Will a local jewelry store buy back a ring?
For local jewelry stores, there is no direct answer, because “it depends”.
It depends on the store reputation, on how long the ring was with you, is it standard ring or a customized one.
But as a generalization (and unfortunately), majority of them will not give you a refund on an engagement ring.
The reason for this is that it is now considered used goods no matter how long you’ve had it (even if it wasn’t taken out of the box).
You might have just bought it the day before, proposed and your partner said no so you rush back to the store to ask for a refund.
Because it’s a large purchase, and most buyers want to know if it’s got any history.
Think about it, would you be comfortable buying a second hand engagement ring that was brought back to the store because the couple didn’t make it down the aisle?
In very rare instances the store owner might buy the ring back from you, but they won’t buy it back for the full price, so you will need to cut your loses there (your best shot will be getting 70% of the price you paid).
Okay, what about online stores? Will they buy back or refund?
The big ones, James Allen, Blue Nile, or Whiteflash to name a few.
Most major online stores offer customers a money back guarantee, if item is in its original, unworn condition within 30 days of purchase, and be careful here, they can tell if it was worn or altered by a jeweler.
So here comes a good advice, as they say “Pray for the best and prepare for the worst”:
Don’t get the ring too early before the proposal, we know it might be awful to even think about returning the ring before getting it if it was a No, but financially it’s wise to do so, and statistics say that around 25-30% of proposals get rejected.
You won’t be happy losing your dream girl of course, but adding a loss of $10k on a ring will make things worse.
So Now What do I do? Where to Sell your Diamond?
Whether you bought it from a local store which refused to return it, or passed the money back period from an online store, you’re now stuck with a ring, what to do?
That’s a good question, at this point you’ve got several options to try:
1) You can take it to a pawn shop and get some cash for it there, but it won’t be anywhere near as much as you paid for it (not even half to it).
2) What is better that pawn shops are some known online stores that buy back diamond, like Abe Mor or Worthy.
3) You can try selling it to a consumer, not your best shot but you might find someone from your friends pool (or their friends) who loves diamond rings and probably interested in buying yours.
4) Nothing is working from the above? Head to listing sites like Craigslist or eBay and list your diamond, include as much details as you can, hopefully someone who appreciates diamonds will find yours interesting (we don’t recommend mentioning it was from a rejected proposal, they might try to take advantage of this).
There is no harm in trying, take the engagement ring back to the store, and see what they say. If it’s no, then move on to the options we listed above, but your last resort should be to sell it to a pawn shop.
About the author
Olivia Bennett is a dynamic and accomplished expert in the diamond industry. With over a decade of experience, she has established herself as a go-to authority for all things diamonds. Olivia's love affair with these exquisite gemstones began in her childhood and has only grown stronger over the years.
Having worked closely with diamond miners, manufacturers, and retailers, Olivia possesses a comprehensive understanding of every aspect of the industry. From diamond grading to sourcing and the latest design trends, her expertise is unparalleled. Clients value her impeccable taste, attention to detail, and personalized approach.
Driven by a passion for education and empowerment, Olivia launched her own website dedicated to diamonds. Through engaging and informative content, she guides individuals through the intricacies of diamond buying, helping them make confident and informed decisions.
Olivia's mission is to ensure that everyone finds their perfect diamond, one that truly reflects their unique desires. With her extensive knowledge and unwavering dedication, Olivia is a trusted guide in the dazzling world of diamonds.