What’s the value of my ring?
If you’re thinking of selling your ring, the most obvious question you’re asking yourself is how much it’s worth and if it is worth selling after all. The best way to determine this is to have it professionally appraised. A qualified expert will consider several factors, including diamond certificates, the center stone, how much you bought it for, how old it is, and where you purchased it. However, here are some tips on how to get a general idea of your ring’s value on your own.
The center stone
Does your ring have a large stone in the center? If yes, what gemstone is it? Every gem has a different value. While most people think that diamonds are the most valuable, a gem’s price depends on the rarity. Red diamonds are the most valuable globally, but fire opal, red beryl, benitoite, rubies, and sapphires can also be rare and expensive.
Gem quality
Heard of the 4 Cs? In the diamond and gemstone industry, precious stones’ value depends on four factors: cut, color, clarity, and carat weight.
Cut: The cut is not necessarily the shape of the stone, but its structure and interior facets – i.e., in a diamond, its brilliance and symmetry. Cut also refers to polishing and exterior points, such as the crown, pavilion, girdle, and table.
Color: Every gem type has what is called an “ideal” color. For example, with diamonds, the whiter the stone, the higher its value – unless it is a natural red or blue.
Clarity
Clarity: With diamonds and many other stones, the clearer the gem, the higher its value. The cloudier it is or if it has blemishes outside or inclusions on the inside, expect a drop in price if you’re selling it. The Gemological Institute of America (GIA) works according to a chart to grade diamond clarity.
Carat: Carats refer to weight, and one carat weighs 0.2 grams. Price is determined by carat size, so the bigger the stone, the more valuable it is.
Gemstone or diamond certificate
A few organizations sell diamonds and gems with a certificate of authenticity – the most noted ones are the GIA, International Gemological Institute (IGI), HRD (Antwerp), and Gemological Science International (GSI). If you don’t have a certificate, you can send your ring to a lab to be tested and evaluated for the 4 Cs, and the outcome will help you determine the value of your item.
Other factors
Additional factors that play a part in your ring’s value are the type of metal used in the setting (silver, gold, platinum, etc.); the detail and intricacy of any patterns; how much you paid when you bought it and where you bought it. Usually, you won’t get the same price you paid for a new ring, although if you bought it from a famous brand and can prove it, such as Tiffany & Co., or Cartier, the price difference will be less.
Achieving top dollar
If you want to know how much your ring is worth – whether to sell it, out of interest, or for insurance purposes, you will at least see whether it’s of some value or not. Now it’s time to have it professionally assessed. Make sure you seek out a buyer or evaluator renowned for honesty, experience, and expertise!
Contact DNR for a free appraisal!