TL;DR
You can sell a diamond or engagement ring at Bijouterie Jamil in Montréal in about 20–40 minutes: bring the ring (and any GIA paperwork), we evaluate the diamond and the metal on-site, then make you an immediate offer with same-day payment. Expect resale to be roughly 30–50% of the original retail price for a natural diamond ring with a GIA certificate, and 10–25% for a lab-grown diamond. The good news: if you trade it toward a new piece instead of cashing out, you usually get 15–25% more in credit value.
Table of Contents
- The honest truth about engagement ring resale
- Why retail and resale are not the same number
- Lab-grown vs natural diamonds at resale
- With or without a GIA certificate
- Selling the diamond loose vs in the setting
- The Bijouterie Jamil process: walk in, evaluate, get paid
- Trade-in option: more value toward an upgrade
- What to bring and ID requirements
- FAQ
The honest truth about engagement ring resale
Most engagement rings lose 50% to 70% of their retail value the moment you walk out of the store. That is not a Bijouterie Jamil opinion — it is the resale market across Canada and the US, and any honest jeweller will tell you the same thing.
The reason is simple. The price you paid included the jeweller's markup, the brand, the box, the financing, the showroom rent, and the staff. None of that comes back when the ring changes hands again. What comes back is the metal value plus the wholesale value of the diamond as a buyer would pay it today.
We say this up front because you deserve to hear it before you sit down at the counter. A realistic number now is better than a disappointing surprise later.
Why retail and resale are not the same number
Think of it the way car dealers think about a new sedan. You drive it off the lot and it is immediately a used car, even if it has 4 km on the odometer. Diamonds and rings work the same way.
When you bought the ring, you paid for: - The diamond at retail (typically 2–3x wholesale) - The mounting in 14K or 18K gold or platinum, with labour, casting, polishing, setting - The brand, packaging, warranty, and store experience - GST and QST (14.975% in Québec) on the full price
When we buy it from you, we pay for: - The diamond at the wholesale price a dealer or recutter would pay today - The metal at the live spot price for gold or platinum, minus a small refining margin
That is the gap. It is not a trick and it is not specific to Montréal — it is how the secondary market works everywhere.
Lab-grown vs natural diamonds at resale
This is the biggest swing in the entire conversation, so we want to be specific.
Natural diamonds hold value better at resale. A 1-carat natural round brilliant with a GIA report and decent specs (G colour, VS clarity, Excellent cut) that retailed for around $8,000–$10,000 CAD will typically resell for $3,000–$5,000 CAD depending on the day. That is roughly 35–50% of retail.
Lab-grown diamonds lose value much faster. The same 1-carat lab-grown stone may have retailed for $2,500–$3,500 CAD only two or three years ago, but the wholesale price of lab-grown rough has dropped 70–80% since then. Today the same stone resells for $300–$700 CAD — roughly 10–25% of the original retail. We are not happy to tell people this, but the numbers are public.
If you want a deeper read on the difference between the two, see our pillar lab-grown vs natural diamonds.
The takeaway: natural holds, lab-grown does not. If your ring is lab-grown and your goal is maximum cash, the offer will feel small. If your goal is to apply the value toward something else, the trade-in path is usually better.
With or without a GIA certificate
A GIA certificate (or to a lesser extent IGI) changes the resale story in two ways: speed and price.
With a GIA report, we know the exact carat, colour, clarity, cut, fluorescence, measurements, and we can verify the laser inscription on the girdle in under a minute. That lets us make an offer the same day, often 10–15% higher, because the buyer downstream does not need to send the stone to be re-graded.
Without a certificate, we still buy the diamond — we just have to grade it ourselves at the counter, and we price more conservatively to cover the unknowns. The offer is real, just lower. If the stone is large enough (typically 0,70 ct and up) and you have time, sometimes it is worth sending the loose diamond to GIA before sale. We can talk you through whether that math works for your specific stone.
For more on this, our pillar diamond certification explained covers what to look for on a GIA report.
Selling the diamond loose vs in the setting
Here is something most people do not realise: we usually buy the diamond and melt the metal.
The setting — the prongs, the band, the halo, the side stones — almost never gets resold as-is. Tastes change, settings get scratched, sizes are wrong for the next person. So in nearly every case we:
- Carefully unset the centre diamond (and any meaningful side stones)
- Weigh the metal of the mounting and pay you the gold or platinum spot value
- Price the diamond on its own merits, GIA or not
This matters because it means you do not lose money by bringing in the ring assembled. You do not need to take it to a jeweller first to remove the stone. We do that on-site, in front of you, in a few minutes.
It also means a damaged or out-of-style mounting does not hurt the offer. The metal is melted regardless. A bent prong or a worn shank changes nothing.
The Bijouterie Jamil process: walk in, evaluate, get paid
We have been doing this in Montréal for over 60 years. The flow is straightforward.
1. Bring it in
Walk in or book a private consultation. No appointment is needed for a single ring. If you are bringing a collection or an estate, book ahead and we will give you a private counter.
2. On-site evaluation
At the counter we do three things, in front of you: - Test the metal with an XRF analyzer to confirm karat (10K, 14K, 18K, platinum) - Examine the diamond under the loupe and microscope, verify GIA inscription if present, measure dimensions, grade colour and clarity - Weigh the mounting and the loose stone separately
The whole evaluation usually takes 20–40 minutes for a single ring. Longer if there are multiple stones or if you want us to walk you through the grading.
3. Immediate offer
We give you the number out loud and on paper. No pressure, no countdown. You can leave and think about it. The offer holds for the day, and longer if the spot price is stable.
4. Same-day payment
If you accept, we pay you the same day. You choose: cash, Interac e-transfer, or cheque. You will need one piece of valid government photo ID — this is required under Québec law for any second-hand precious metal or stone transaction, and it protects both sides.
Trade-in option: more value toward an upgrade
This is the option most people overlook, and it is usually the better one.
If you bring in an old ring and apply the value toward a new piece from Bijouterie Jamil — an upgraded engagement ring, an anniversary band, a tennis bracelet, a watch — we credit you 15–25% more than the straight cash buyout. There is no GST or QST on the trade-in credit portion, which on a $5,000 CAD ring saves you another $748,75 in tax.
A common scenario: a couple bought a 0,70 ct lab-grown solitaire for $2,800 CAD in 2022. The straight cash offer today might be $450 CAD. The trade-in credit toward a 1-carat natural diamond ring would be closer to $560 CAD, plus the tax savings. Different number, same ring on the way out.
This is also how a lot of our anniversary upgrades happen. People come in for the 5th or 10th anniversary, trade up the centre stone, keep the original setting (or remake it), and walk out with something that means more without losing the original meaning.
What to bring and ID requirements
To make the visit smooth, bring:
- The ring itself, in its box if you still have it
- The GIA or IGI certificate if you have one (paper or digital scan, both work)
- The original receipt or appraisal if you have it — useful for context, not required
- One piece of valid government photo ID — Québec driver's licence, RAMQ card with photo, passport, or PR card. This is mandatory under provincial law.
- If you want an insurance appraisal instead of a sale, mention this when you arrive — we offer written appraisal documents at $75–$150 CAD typical, depending on the piece
You do not need to clean the ring or make it look its best. We will look past dirt and wear.
A realistic expectation of the day
Most clients come in with one of three goals: cash, trade-in, or just an honest number before deciding. All three are welcome, and there is no obligation on any of them. We would rather have you walk out informed than rushed into a sale.
If the offer is not right for you, take it home. Compare. Come back next month or never. Our job is to give you the most accurate number we can, the same day, with the metal and the diamond evaluated in front of you. After 60+ years on the same block in Montréal, that reputation is worth more to us than any single ring.
FAQ
How much is my engagement ring really worth at resale?
Roughly 30–50% of the original retail price for a natural diamond with a GIA certificate, and 10–25% for a lab-grown diamond. The gap exists because the original price included markup, brand, and tax that do not return on the secondary market.
Do you buy lab-grown diamonds?
Yes. We buy both lab-grown and natural diamonds. Be aware that the wholesale price of lab-grown rough has dropped 70–80% since 2021, so the cash offer on a lab-grown stone will be much lower than what you paid. Trading it toward a new piece usually recovers more value than a straight buyout.
Do I need a GIA certificate to sell my diamond?
No, but it helps. With a GIA report we can typically pay 10–15% more because the next buyer does not need to re-grade the stone. Without a certificate, we grade it ourselves at the counter and the offer is more conservative.
Can I sell just the diamond without the setting?
Yes, and in fact we usually unset the diamond ourselves on-site. The metal of the mounting is weighed and paid at the gold or platinum spot price, and the diamond is priced separately. You do not need to take the ring to another jeweller first.
How long does the evaluation take?
About 20–40 minutes for a single ring. Longer for multiple pieces or estate collections — for those we recommend booking a private appointment so we can give you a quiet counter.
How do you pay me?
Same day, your choice: cash, Interac e-transfer, or cheque. You will need one piece of valid government photo ID, which is required under Québec law for any second-hand precious metal or stone transaction.
Is it better to sell or trade in?
Trade-in almost always gives you more. We credit 15–25% more when you apply the value toward another piece, and you save the 14,975% GST and QST on the credit portion. If you do not need the cash directly, trading up is the stronger move.
Can you give me a written appraisal for insurance instead of buying it?
Yes. We provide written insurance appraisals at $75–$150 CAD typical, depending on the piece. The appraisal document includes photographs, measurements, grading, and a replacement value figure that your insurer will accept.
Visit Bijouterie Jamil
Bring your ring in for an honest, on-site evaluation. We will test the metal, grade the diamond, and give you a real number the same day — cash, e-transfer, or trade-in credit toward your next piece. No appointment needed for a single ring, and private consultations are available for estate collections.
Ziko Khazzoum is the second-generation owner of Bijouterie Jamil in Montréal. He specialises in luxury watches, diamond and estate buying, and has been valuing rings on the same block for over two decades.
