If you have a diamond ring you don’t want to wear anymore, you might be struggling to come up with ideas for what to do with it. You don’t want to waste something as valuable and beautiful as a diamond by hiding the ring away, but what are the alternatives?
Some of the best things you can do with an old diamond ring include selling it, gifting it to someone else, repurposing it, donating it, or burying it somewhere where it can be discovered by someone else.
In this article, I’ll discuss several ideas about what to do with an old diamond ring you don’t want to wear anymore. Let’s get to it!
1. Sell the Old Diamond Ring
If you aren’t emotionally attached to the ring and no longer want to own it at all, one of your best options is to sell it. That way, you can make some money from the ordeal and treat yourself to a newer piece of jewelry you love.
Many factors contribute to how much money you can get from selling an old diamond ring, such as the following:
- Carats. Diamond rings with more carats will resell for a better price than rings with fewer carats.
- Setting. Attractive and popular settings are more likely to sell than older, out-of-date designs. The most popular settings include solitaire, pave, three-stone, halo, and bezel.
- Age. Unless the ring has a particularly spectacular or unique setting, old diamonds aren’t typically worth more than newer diamonds. Antique diamonds are often seen as outdated and, therefore, not as valuable unless they have a storied history.
- Damage. The more damaged a piece is, the less money you’ll be able to make selling it. If the ring is missing lots of stones or has broken prongs, you may not have a lot of success getting a good price for it.
- Shape. Some diamond shapes are more expensive than others. Round is one of the most popular shapes, which means you’ll be able to charge more for your old ring if it is in a round cut. Brilliant, oval, and heart-shaped cuts are also more expensive.
Typically, people make somewhere between 40% to 75% of the ring’s original value back from a resell.
How To Sell Your Old Diamond Ring
You have multiple options for where and how to sell an old ring. Let’s take a look at a few:
- Pawnshop. I don’t recommend selling a diamond ring to a pawn shop because most of these shops don’t offer you a fair price, and you usually don’t get anything close to the actual value of the ring. However, if you want to sell it quickly, this is one of the better options because often, the owner can take the ring and give you money on the spot.
- Jewelry shop. Local jewelry shops often buy old diamond rings. To do this, simply bring it in and wait for the expert to appraise it and offer you a price. Like selling to a pawn shop, the price is usually less than what the ring is worth, but it is a quick and relatively painless way to sell an old diamond.
- Online marketplace. Another option is to sell your ring directly to another consumer through an online marketplace, such as eBay, Craigslist, or Facebook Marketplace, or a jewelry-specific marketplace, such as I Do Now I Don’t.
- In-person to someone you know. One of the best ways to get the best price for your ring is to sell it in person to someone you know or a friend of a friend. I recommend posting on your social media about wanting to sell the jewelry and waiting to see if you or someone you know knows someone interested.
If you decide to sell your ring online, here are some things you can do to ensure that you get the best possible price:
- Take flattering pictures of the ring. A picture is worth a thousand words, and someone is more likely to offer you more money for a ring if they can see all the details. It will likely be worth it for you to take some extra time and take the best possible photos of your ring.
- Don’t try to hide imperfections. It’s always better to be honest, so you should avoid the temptation to represent the ring inaccurately. If something is wrong with it or it has some damage, it is far better to be upfront in the beginning so buyers know what to expect. Otherwise, you may end up dealing with an unhappy buyer and even face legal consequences.
- Take pictures of the ring on a plain background. If the only pictures you have of the ring on the listing are on a patterned or busy background, most potential buyers will scroll past because they can’t get a clear idea of what the ring looks like. There’s a lot of competition on online marketplaces, so you should do everything possible to set yourself up for success.
- Only meet potential buyers in public places. If you arrange to meet a potential buyer in person, your safety is of utmost importance. I recommend having someone come with you when you meet them, so you aren’t on your own. At the very least, you should always meet buyers during the day and in a public place. These buyers know that you’re carrying something of value with you, which can be dangerous.
If the ring doesn’t have any sentimental value and you don’t want to keep it at all or give it to someone in your family, selling it is the best option. However, take a moment to ensure that you’re ready to part with the ring before you list it on a marketplace or bring it into a pawn shop or jewelry shop. Once you sell it, you probably won’t be able to get it back.
2. Give the Old Diamond Ring To Someone Else
One person’s trash is another person’s treasure! Just because you don’t want an old diamond ring anymore doesn’t mean that someone else you know won’t want it. This is especially true if the ring holds sentimental value or meaning or if you want to ensure that the ring goes to a good home.
If you have children, I recommend passing the ring down to one of them, so it can become a family heirloom. Another option is to ask your close friends and neighbors to see if anyone is interested in the ring. Chances are, someone will know of someone who is in the market for a diamond ring, and they can take your old one and repurpose it into something new if they’d prefer.
3. Repurpose the Old Diamond Ring Into Something New
You may not want to wear the old diamond ring as a ring anymore, but that doesn’t mean you can’t transform it into something else. Repurposing old jewelry is a great way to breathe new life into an old piece. Here are some ideas:
- Turn the ring into a necklace. One of the simplest ways to repurpose an old ring is to string it through a chain and wear it as a necklace. Alternatively, you can remove the diamond from the ring setting and place it in a pendant to turn it into a necklace. As a result, you’ll have a simple and elegant piece that you can wear around your neck every day.
- Turn the ring into earrings. Diamond earrings are classic, elegant, and timeless, so you can repurpose an old diamond ring by removing the diamond from the setting and purchasing another diamond that is the same color and cut. Then, you can take the diamonds to a jeweler and have them add earring posts and backs so that you can add some shine to your lobes.
- Make a new ring. If you don’t mind the thought of continuing to wear the diamond ring as a ring and you simply don’t like the way the old one looks, you can have it redesigned and repurposed into a more contemporary design.
- Use multiple stones to make a bracelet. If the old diamond ring has lots of stones, you can use these to make a charm or tennis bracelet. This way, you can use every stone in the original ring design, not just the centerpiece.
If the ring has sentimental value, you can still wear it, just in a different way. Additionally, it isn’t too difficult or expensive to make a new piece of jewelry from an old ring. In most cases, a reputable jeweler can do the job for less than $300.
4. Donate the Old Diamond Ring
If selling your ring doesn’t seem right and you don’t have anyone in your life you want to give it to, you can donate it. Numerous organizations accept fine jewelry donations, including the following:
- Support Our Troops. This is a charity that is dedicated to supporting the morale and well-being of active-duty military members and their families. They accept fine jewelry, including diamond rings. They even accept jewelry that is missing pieces or otherwise damaged, so if your old ring has some imperfections, that’s not a problem.
- Helping Hands of America. They facilitate charity donations and raise money for lots of important organizations, including the Association of Blind Citizens, the Lupus Foundation of New England, and the Meals on Wheels program.
- I Have Wings Breast Cancer Foundation. I Have Wings supports women with breast cancer by relieving financial burdens and offering much-needed supplies, such as compression sleeves, food, gas, and wigs. The organization accepts all kinds of jewelry, and they clean and repair it to fund their efforts.
- Rings of Hope. This is a project through the Tough Angels organization. They accept all fine jewelry, even pieces that are broken or missing parts. Then, they can receive a refinery salvage price, which they use to fund education programs and housing for at-risk children in South Africa and Kenya.
- Local charity. If none of these charities are appealing to you, ask around in your community to see if any local charities will accept your ring.
- Local theater. If you have a theater in your area, you can always give them your old diamond ring to use in future productions. Most theater companies use fake diamond rings as costumes, but if you donate your ring, you can add some authenticity to their next production.
Donating your old ring is a great way to get rid of it and do a good deed at the same time.
5. Bury the Old Diamond Ring in a Public Area
This option may be a bit unconventional, but for some, it may be the most appealing choice. Suppose your diamond ring came from a failed marriage or a deceased loved one. In these situations, it may be painful for you to repurpose the ring or give it to someone who may wear it in front of you, and you may find yourself just wanting to toss the thing and be rid of it.
Of course, if you want to throw your ring away or chuck it in the ocean or down the garbage disposal, that’s entirely your choice. However, I recommend burying it somewhere where someone may discover it instead. The ring may carry bad memories for you, but it can be a life-changing and exciting discovery for someone else.
If you bury your ring in a public area, a lucky stranger may come across it someday. Many metal detector enthusiasts use their metal detectors in public parks, and they can pick up a buried ring. Imagine that person’s surprise and delight when they uncover your old diamond ring! This way, you can bring joy and a financial blessing to someone’s life, and the ring will be out of your life forever.
Here are some ideas for public areas where your ring is likely to be discovered:
- Park
- Playground
- Beach
- Fairground
- School ground
- Tourist site
- Campground
- Picnic area
- Drive-in theater
- Ski resort
Ultimately, leaving your ring in a place where someone can find it and benefit from it is a better choice than disposing of it completely.
