We must admit, selling jewelry such as engagement rings, is one great way to make quick cash. However, even if you’re not thinking of selling your ring, it’s still essential for you to know how much is your ring is worth. If you want to see the value of your ring, you’ll need to know all the things that an appraiser is looking for when it comes to the quality of the jewelry. There are several factors to determine the cost of your ring, and if you really want to know how much is your ring worth, the best thing that you should do is to get it appraised.
An appraiser will look into different aspects such as the diamond certificates, center stone, how much you paid for it, where you bought it, and how old it is. However, knowing all these things doesn’t mean that you can’t do a general evaluation on your own. But even if you’re not planning to sell your engagement ring, it’s still nice to know how much your ring is worth, that is why n this article we are going to list down the things that you should look into in order to know the quality of your engagement ring.
The Center Stone
It’s pretty standard for engagement rings to have at least one large stone in the center. If your engagement ring has one in the center, can you tell what type of gemstone it is? It is essential for you to determine when kind of stone is it because gemstones have a different worth of money per carat. Most people think that diamonds are one of the most valuable gems in the world. Well, they worth at least $2,000 to $15,000 per carat. However, white diamonds rank well below several other gemstones.
A gemstone’s value primarily depends upon its rarity. Red diamonds are one of the most valuable gems in the world, and they are worth about $1,000,000 per carat. Other pricey stones are benitoite, fire opal, and red beryl.
Gemstone Quality Factors
The value of diamonds and precious stones solely depends on four factors or the four Cs, namely carat, cut, clarity, and color. Some gemstones possess additional quality factors because of their unique mineral deposits.
- Color: Each gem has its own ideal color. For example, when it comes to diamonds, the white diamond is considered to be the best, and if it has any brown or yellow tints expect that it can reduce the stone’s value. This is with the exception of the diamond having naturally occurring blue or red colors. But take note that artificially colored diamonds don’t have the same value. As a general rule that appraisers follow is that: diamonds that have a rarer and more aesthetically appealing appearance always take home the higher the price.
- Clarity: When it comes to most gemstones, especially diamonds, the clearer it looks, the better. If the stone has a cloudy appearance, except that it can decrease its value. Appraisers are also keen on discrepancies that can exist both inside and outside the stone. Blemishes can exist on the stone’s exterior, while inclusions can be seen on the inside of the stone’s structure.
- Cut: A stone’s cut doesn’t precisely mean its shape but rather its inferior facets and built. When it comes to transparent stones such as the diamond, the appraiser will look at its brilliance and symmetry. The cut grade of the stone refers to the quality of the exterior structural points and polishing of the stone like the crown, table, girdle, and pavilion.
- Carat: Carats means the stone’s weight. One carat typically weighs at least 0.2 grams. Keep in mind that larger gemstones have significantly more value compared to smaller stones. This means that the price per carat amount increases as the size of the gemstone increases.
Diamond or Gemstone Certificate
When you bought your ring, we’re pretty sure that the store or the person who sold it to you may have given you a certificate of authenticity for the gemstone or the diamond. Several organizations such as the HRD Antwerp, Gemological Science International (GSI), Gemological Institute of America (GIA), the International Gemological Institute (IGI), and other organizations have different evaluation techniques and criteria when it comes to measuring the diamond’s clarity, cut, and color. If you don’t have a gemstone certificate, you can get yours by sending your stone to an organization’s lab for evaluation.
The Type of Metal
The value of your ring’s metal is just as crucial as the gemstone’s value. This is because minerals such as gold and silver are often traded on the open market. Over time, their value fluctuates almost drastically every day. Most rings are made with either silver, gold, or platinum. Each metal has its own conditions when it comes to measuring its purity. For example, gold uses the karat system. The higher the carat, purer the gold. However, keep in mind that even if a 24 karat is somewhat ideal, this level of gold is uncommon and a little bit undesirable because of its softness.
People usually think that platinum has more value than gold. However, that is not always the case. Platinum is much more abundant compared to gold, but it costs more to produce it. That is why sometimes gold is worth compared to platinum, but sometimes it’s not. Appraisers will also take a look at the ring’s design. This is because the jewelry that has labor-intensive and intricate patterns is usually worth compared to a simple band.
How Much Did You Pay for It and Where Did You Buy It?
When you go to an appraiser and ask them how much your ring is worth, the first thing they’ll probably ask you is where you bought it and how much did you pay for it. The sad news is you’ll likely only receive at least 20% and 45% of the price you paid for the jewelry. This is because the buyers will have to turn a profit from the transaction aside from that, preowned jewelry doesn’t sell as well and as high as new jewelry. However, there’s an exception to this, the brand of your jewelry.
Just like any other product, brand names matter when it comes to the value and quality of the jewelry. For example, if you have a piece of jewelry that is from Tiffany & Co or Cartier, you might sell your piece for about 50% of your original price, that is if you have the paperwork and the original packaging.