If you have a white gold ring for sale, this article will help you to narrow down the list of potential buyers and understand how your ring will be valued by them. Let’s see what you need to know before selling your white gold ring.
Where Can You Sell a White Gold Ring?
The most likely buyers of white gold rings are gold dealers. You can also try auctioning your ring online or selling it to a jeweler.
Gold dealers buy jewelry for scrap gold, which they resell to gold refineries. Some dealers melt down the gold they buy themselves.
A gold dealer will pay you a price that reflects only the value of the gold in your ring.
If your jewelry has diamonds, you may get a good price if you sell it to a diamond dealer. Some of these buyers also pay money for branded designer jewelry or vintage pieces, even if they don’t have diamonds.
Auctions are a good way to sell your white gold ring if it has a design that is unique, or if it is a vintage piece.
In such a case, offering your ring at an auction may be a better idea than selling it for scrap gold, as the piece would be likely to fetch a higher price if auctioned.
Some jewelers buy used white gold jewelry, but they usually pay a price that is close to what gold dealers offer.
You could ask around to compare prices, but selling to jewelers is the best option if you are willing to exchange your ring for a new piece of jewelry.
Many stores offer such trade-in deals where you can get store credit, and its value is usually higher than that of the cash most jewelers would offer.
What Is Your White Gold Ring Worth?
A white gold ring derives most of its value from its gold content. This is what gold dealers will pay for.
A used piece of jewelry is not worth much more than the price of its metal unless it is an antique or has some other unique attributes.
The white gold used to make rings is made up of yellow gold mixed with other metals to form an alloy that is harder than pure gold. White gold rings are usually covered with a thin layer of rhodium, which gives them their white color.
To figure out how much money you could get for your ring, first you need to find out its karats.
This number, which indicates the purity of the gold alloy, is most likely to be found stamped on the inside of the ring. Knowing its karats and its weight, you can estimate how much the ring is worth.
Converting Karats to Gold Purity Percentage
A karat can be converted to a gold purity percentage by dividing the karat number by 24.
For example, an 18-karat white gold ring contains 18 parts pure gold and 6 parts other metals, and therefore, in terms of percentage, its gold content is equal to 75% (18 divided by 24).
How Much Pure Gold Does Your White Gold Ring Contain?
To find how many grams or ounces of pure gold you have, weigh your white gold ring and apply its gold purity percentage to the weight.
Thus, if an 18-karat ring weighs 0.3 ounces, the weight of the pure gold in it would be 0.225 ounces (0.3 ounces x 75%).
Note: Be sure to weigh only the metal parts of the ring, and do not include in the calculation the weight of any stones the piece might have.
Calculating the Value of Your White Gold Ring
After you’ve calculated how much gold you have, find the current price of gold.
Generally, it’s best if you look up prices quoted by dealers who buy scrap gold. Be sure to get at least a couple of quotes because sometimes prices can vary significantly from dealer to dealer.
To estimate the value of the gold in your ring, multiply the current price of gold per ounce or gram by the weight of the pure gold in your ring.
The result will be the price you are most likely to get if you sell the ring for scrap gold to a gold dealer.
What If Your White Gold Ring Has Diamonds or Other Stones?
If there are diamonds in your ring, you can remove them before selling the white gold to a dealer or another buyer.
Some gold dealers also buy diamonds, but it is advisable to check if a diamond dealer will pay more for your stones.
Also, there are jewelry shops where you could exchange your stones for store credit with which you will have to buy new jewelry at the store.