Friday, September 1, 2017

Website Spotlight: Have You Seen the Ring?

Pre-owned engagement rings can save a groom to be some serious cash, but what is it actually worth? Phil Johnson, CEO of HaveYouSeenTheRing.com has developed a tool that solves the big question for buyers and sellers alike.

What is a Preowned Engagement Ring Actually Worth?
It depends on who you sell it to. The end independent buyer will always pay significantly more than a local jeweler. However, valuing a pre owned ring is challenging for both sellers and buyers. We offer the first of its kind pre-owned ring price look up to help our clients know their ring’s value.

What Does it Do?
  • Sellers input the key information related to their engagement ring. The output is the average value a regular person would be willing to pay for their used engagement ring.
  • Buyers input the key information related to the engagement ring. The output is the average value a regular person would be willing to pay for their used engagement ring.
How Does It Work?
Have You Seen the Ring utilize their sales information from the last 5 years and align it with the current market value of diamonds. The result is an accurate estimate of what a pre-owned engagement ring is actually worth.

What Problem Does It Solve?
  • Sellers are unsure what their used engagement ring is actually worth in the pre-owned market
    • This makes negotiations with buyers difficult and stressful
    • This blocks sales as sellers often overvalue their unwanted engagement ring due to inflated appraisal values
    • Sellers, on the other hand, may sell for a price well below resale due to low offers received from jewelers or auction websites that deal directly with the diamond industry
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  • Buyers are unclear about the price that they should offer for a pre-owned engagement ring
    • Buyers are regular people who are not in the jewelry. This is an important purchase and it is difficult to estimate a value
    • Buyers regularly offer an initial price way too low alienating themselves from sellers
    • Buyers don’t want to overpay and they are hesitant about making a fair offer in case it is too high
HYSTR’s preowned price lookup solves the biggest issue preventing a sale/purchase. What is the ring actually worth? It creates a more positive friendly negotiation between buyers and sellers, removing stress, frustration, and disappointment from the sale. Both the buyer and seller can walk away feeling like they got a good deal. It is a win-win for both parties.

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