Your Guide to Buying Second Hand Diamond Rings in South Florida

If you are thinking about buying a second hand diamond ring, this guide has everything you need to know. We are Diamonds By Raymond Lee, Boca Raton and South Florida’s #1 diamond jewelry store and leading expert in pre-owned diamond rings. 

The information below will be useful for those residing anywhere in the United States. By following our guide and the tips within, you will not only know how to choose the right ring, but you will also know what to look for when deciding on a jewelry store to shop with.

And for those who live Boca Raton or the South Florida area, this post will make it clear why Diamonds By Raymond Lee is the best place to shop for second hand diamond rings…

The word “second hand” usually comes with a negative connotation, and for many consumer products, that is understandable. However, second hand diamond rings are not like technology or clothes or even cars, they are made to last forever, the styles are timeless, and they have intrinsic value. After all, they are made from precious metal, which can be easily polished to look like new, and diamonds, which is the hardest rock on the planet.

Second Hand Diamond Ring Terminology

Just to be clear, there are various terms for second hand diamond rings, but not all second hand diamond rings are the same. 

“Second hand” is the same as “used” or “pre-owned”. It is a ring that has been previously purchased by another person. We will be using these terms interchangeably throughout this guide. 

Now, to get more specific, the following terms all refer to second hand rings, but there are some important distinctions to know. 

Estate Rings: Rings that have been acquired from someone’s estate. Sometimes this can mean the previous owner is deceased, but it is not always the case.

Vintage Rings: Rings that were made over 20 years ago.

Antique Ring: Rings that were made over 80 years ago.

What kind of used diamond rings are we talking about in this guide?

The used diamond rings we are discussing here include engagement rings, eternity rings, half-eternity rings, promise rings, wedding rings, and any other ring with diamonds or gemstones.

Are second hand diamonds worth anything?

Absolutely! Second hand diamond rings have intrinsic value as they are made from precious metal and diamonds. Precious metal will have a set market price and diamonds always have value because they are always in demand. How much a diamond is worth will depend on the size. But typically speaking, any diamond over 1 carat will retain considerable value. 

But that’s not all. Some used diamond rings have more than just intrinsic value. Depending on the brand, the designer, and its age, a used diamond ring can be worth far more than its intrinsic value.

All in all, there are many factors that make up the value of a pre-owned diamond ring. This is why you will find the price for a pre-owned diamond ring varies greatly. 

Are second hand diamond rings cheaper?

The average price of a new diamond ring ranges from a few thousand dollars to hundreds of thousands of dollars. However, as soon as it is bought, it loses a significant portion of its resale value. Typically speaking, it is around 30-50%. Because of this, second hand diamond rings are considerably cheaper than their new counterparts. The same size and quality ring will often be thousands of dollars less than a similar ring that’s new. 

There’s more good news for those who buy second hand. Once it is pre-owned, it doesn’t matter how many new owners there are, the value remains stable. There will be no further depreciation in value, as the only time a ring drops in value is from new to pre-owned.

This is a major benefit of buying second hand. You retain pretty much all of the ring’s value! If you were to resell the ring, you would only lose the mark up that the jewelry store put on the used diamond ring.

Note: Some used engagement rings can be worth more than they were when new. But this only applies to vintage or antique rings from big-name brands like Cartier and Tiffany.

Is it OK to give a used engagement ring?

While many people buy used rings for themselves, as they look just as good as a new ring and they retain value better, they would feel somewhat awkward to give someone a used ring because it may come off as they are cheap. We are here to say, that should never be the case. 

First, no one has to know the ring is used as it will be cleaned and polished to perfection, and it will have a brand new presentation box. 

Second, if the ring is breathtaking, it won’t matter. Once the recipient receives the ring, they will be in awe of the diamond’s radiance and the precious metal’s gorgeous luster. That’s the great thing about diamond rings, they keep their beauty and style no matter what. The most expensive rings are ones that you find at auction. And guess what, those rare and vintage rings that sell for millions of dollars are all pre-owned and used. 

Lastly, even new rings don’t have new materials, and if they do, it is very rare. Much of the jewelry industry is made up of recycled precious metal and diamonds. So, while no one will have worn that “new” ring before, the materials that make it up are almost always used. 

If you are still skeptical, here are some of the benefits of buying second hand diamond rings…

BENEFITS OF SECOND HAND DIAMOND RINGS

1. Affordability

As we’ve already discussed, second hand diamond rings often come with a lower price tag. So, for example, if the original buyer bought said ring for $10,000 when new, and the unavoidable depreciation that follows instantly drops the resale value of the ring to $6,000, you will get that same ring, labeled as used, for $6,000 + the jewelry stores markup. 

The point is, you are pay a substantial amount less than a diamond ring of equal size and quality that is new. 

The only exception to this is if the ring is historical, such as a vintage piece from a well-known designer. 

2. Uniqueness

If you buy second hand, you are far more likely to get something original. Many new diamond rings from big box stores are cookie cutter designs. They are mass produced and as beautiful as they may be, they are unoriginal.

So, if you want something unique, shopping for a second hand diamond ring is the best bet. You can almost guarantee that you won’t ever find someone with the same ring as you.

3. Brand-New Look

You pay less for a diamond ring that looks brand new! Unlike shoes, clothes or cars, it is a simple process for a jeweler to make a used diamond ring look brand new again. All they have to do is clean it and lightly polish the precious metal. And if the ring needs repairing, that is a simple fix as well, as precious metal is super easy to work with. 

Note: Polishing gold removes metal. So, you will want to make sure that the used ring hasn’t been polished a ton of times. A few times over the course of its life is nothing. But if it has been polished over and over again, that’s not good. So, feel free to ask about that. As for platinum, this is not a concern as platinum will not polish away, it just becomes displaced. A platinum ring will always weigh exactly what it did when new no matter how many times it is polished. 

Cleaning an old diamond ring – It looks brand new again!

At Diamonds By Raymond Lee in Boca Raton, we use ultrasonic cleaners with high frequency sound waves and chemicals to clean our diamond rings. The chemicals create bubbles that latch on to dirt, then the sound waves pull the dirt away from the stone and moves them to the surface where they can be wiped away. That’s all it takes to make a used diamond ring look spotless. 

4. Better Craftsmanship

You may automatically think second hand diamond rings are of lower quality than new diamond rings, as why would someone sell it? That is far from the truth. People sell diamond rings for many reason, with the main one being of the financial nature. 

In fact, you will find that vintage diamond rings are of better quality than new rings. Yes, technology has advanced, but there’s nothing like diamond rings that have been crafted by hand. There is a special refined look to them.

Most of the new rings on the market are mass produced and machine made. Conversely, many second hand diamond rings are hand-crafted with expert workmanship. 

5. Vintage Styles

Vintage and antique styles are perennially popular in the world of jewelry. That’s why so many new rings try to replicate designs of the past. The most popular diamond ring designs are from the classic jewelry periods like the Art Deco, Retro, Victorian, Edwardian and Georgian eras. 

When buying used, you are getting an authentic diamond ring with a style of the past. 

BONUS

Besides the points above, there are other advantages of buying a pre-owned diamond ring. They are a more eco-friendly option and you may find a ring with some incredible history. 

Related: New vs Used Engagement Rings

SHOULD YOU BUY USED DIAMOND RINGS

If you love the look of the used ring in question, don’t ever let the word “used” deter you from buying the ring. And if you want to get the biggest bang for your buck, then buying a second hand ring makes sense. 

If either of those reasons come into play, the answer to “should I buy a used diamond ring?” is a resounding yes!

SECOND HAND BUYER’S TIPS

When shopping for a second hand ring, there are a few things you want to keep in mind. If you follow the tips below, you will be an informed buyer and you can purchase a used diamond ring with the utmost confidence that you made the right choice. 

1. Make sure the diamond has a certification. In our opinion, the Gemological Institute of America (GIA) is the only diamond cert you want. At Diamonds By Raymond Lee in Boca Raton, all of our used diamond rings have GIA certificates that will tell you everything you need to know about the diamond.
2. Learn about the 4C’s of diamonds. It is best to know the basics about the 4C’s of diamonds – cut, color, clarity, and carat weight. With that knowledge, you can understand what the information on the diamond certificate actually means.  
3. Do your research on the jewelry store that you plan to visit. You will want to make sure they have good reviews and that the company is reliable. You will also want to make sure that the sales associate you speak with is knowledgable about diamonds, jewelry and the jewelry store’s inventory. 

WHERE TO GET SECOND HAND DIAMOND RINGS IN BOCA RATON?

If you live in Boca Raton or the South Florida area and you want to buy a used diamond ring, Diamonds By Raymond Lee is without a doubt the place to shop. We have been in the jewelry business for nearly four decades and in that time we’ve built an unrivaled reputation for providing the best quality diamond rings at the most competitive price. Moreover, we pride ourselves on having excellent customer service. Our team is made up of expert gemologists who know everything about diamonds, gemstones, rings, jewelry, and all of the products in our store. Any questions that you have will be answered thoroughly and we can guide you through our vast collection of both used and new diamond rings so you can make a purchase that you will cherish forever. 

Diamond By Raymond Lee in Boca Raton – our collection of second hand diamond rings with prices included.

Our flagship jewelry store, Raymond Lee Jewelers, which is located in West Boca Raton also has an extensive collection of stunning used diamond rings. You can check out Raymond Lee Jeweler’s second hand rings here. 

If you have any questions for us, please feel free to contact us.