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How Much Is My Engagement Ring Worth?September 21, 2018 - Diamond Articles
While you and your partner may have spent thousands on the engagement ring, how can you determine what the ring is worth today? As the leading online engagement ring experts, we’re here to guide you through finding out how much your engagement ring is worth and the realities of selling it on the second-hand market.
Get answers to the following questions:
- How much is my engagement ring worth
- What you bought the engagement ring for vs what it is worth today
- How to get a price quote for my engagement ring
How much is my engagement ring worth?
It is important to understand that the bulk of the value for your ring will be determined by the center stone. However, as engagement rings come in an array of styles with diamonds of various quality, there is no one set value for pricing engagement rings. Much like the price of a house, it depends on a myriad of factors.
The best way to get a price for your diamond ring is to consult the diamond experts. Diamond pricing is complex: it requires a thorough understanding of the current second-hand diamond market as well as a detailed analysis of a stone’s characteristics.
Get your bespoke price quote from our team of GIA trained gemologists today by clicking the button below.
Factors that affect the value of your engagement ring
With multiple factors affecting the engagement ring’s overall value, it is important to have as much information as possible about your engagement ring to get an accurate price quote.
To get a price quote for your diamond ring, you will need to know the 4 C’s of your diamond. These are:
1. Carat Weight: Refers to how much the diamond weighs, typically abbreviated to ct. Make sure that you know the carat weight of your engagement ring’s center stone as well as any additional stones.
2. Clarity Grade: Denotes the presence of internal and external marks on a diamond, known as inclusions and blemishes respectfully. These flaws can look like black spots or cloudy areas in the diamond. Clarity is graded from FL for flawless and I3 for visibly flawed. To best see a diamond’s full extent of imperfections a loop is required, rather than just looking at the stone with your naked eye.
3. Cut Grade (ONLY APPLIES TO ROUND DIAMONDS): Refers to how well a diamond is cut from a range of Excellent to Poor. The better a diamond is cut, the more easily it can reflect light and appear to sparkle.
4. Color Grade: Denotes how much color a diamond displays. For white diamonds, color is graded on a scale from D to Z, with D as colorless and Z a light yellow. The closer your diamond is to D, the greater its value will be.
Conversely, if you are selling a fancy colored diamond, these are graded on a scale from Fancy Light to Fancy Vivid, depending on their color intensity. Diamonds that display rich colors have greater value.
In addition to the 4 C’s, there is other diamond grading criteria that can affect how much your diamond is worth, including:
- Polish: Indicates how smooth each of the diamond’s facets are, since microscopic defects can be created when diamonds are cut and polished. This is graded from a scale of Excellent to Poor.
- Symmetry: Indicates how well aligned the diamond’s facets are including its table, crown, girdle and culet from a scale of Excellent to Poor.
- Shape: Round brilliant is the most popular cut as it best reflects light and creates fantastic sparkle. Any other diamond cut is considered a “fancy cut”, these include for example: oval, radiant, asscher, emerald and pear cut. The value of fancy cut diamonds fluctuates depending on market trends.
- Fluorescence: Indicates how much a diamond glows when exposed to ultraviolet light on a scale of None to Very Strong. Typically, fluorescence has a negative impact on an engagement ring’s value.
- Treatment: Diamonds can receive artificial treatment to improve their clarity or color. If a diamond has received fracture filling, clarity enhancement or HPHT, it is considered to be less valuable than natural diamonds of the same qualities. This is because a natural untreated diamond of the same quality is rarer.
Where to find information about your diamond: If you have the paper work that came with your engagement ring upon its purchase, such as a diamond certificate or insurance appraisal, it will often contain the necessary information about the characteristics of your diamond.
Other factors will impact the value of your engagement ring include:
- Brand: If you have a designer jewelry brand engagement ring (Tiffany, Cartier, Van Cleef & Arpels etc), this will add value to your engagement ring. Box and papers will further drive up the price as they help further demonstrate the authenticity of piece.
- Precious Metal: Is your ring set in platinum, white gold, rose gold or yellow gold? Metal purity also affects value, i.e. 22k gold is worth more than 14k gold.
What you bought the engagement ring for vs. what it is worth today
According to Business Insider, when you buy a diamond at retail, there is a 100% to 200% markup. This is to cover the retailer’s high overhead costs (rent, staff, insurance, marketing etc) as well as the fact that diamond jewelry is typically slow moving inventory.
As a result, engagement rings typically resell for 25% to 50% of their original retail price.
Much like cars that depreciate in value the moment you drive them off the lot, diamonds depreciate in value once you leave the store. This price drop can come as a shock since there is a popular misconception that all diamonds are investments. The reality is that very few diamonds are investments.
How to get a price quote for my engagement ring?
To get a price quote for your engagement ring, simply complete our online form. One of our experts will promptly contact you with your personalized price quote.
How to get a final price: If you like this price quote and are interested in receiving a final price, we provide free, fully insured shipping service OR you can schedule an appointment at one of our offices. Accept our final offer and get paid, or we return your items free of charge.
About WP Diamonds
At WP Diamonds, we are leading engagement ring experts and luxury buyers. From Tiffany engagement rings to Louis Vuitton handbags to Patek Philippe watches, we buy your diamond and designer items.
International Jewelry Buyers: Established in 2012 in New York City, we have offices in NYC, Tokyo, Hong Kong and in the UK. We work with hundreds of customers from around the world on a daily basis.
Speed: Unlike local options for selling jewelry (pawn shops or jewelry stores), we buy your luxury items directly. As such, the entire process can take as little as 24 hours from start to finish.
Strong Prices: Our experienced gemologists and rich understanding of second-hand luxury market prices ensure that you sell your ring for the most money.
We believe in honest price quotes, and transparent pricing. There are never any fees or commissions deducted from our final offer.
Free Service: Selling your ring is fast, easy and seamless with WP Diamonds. Our service is entirely free, whether you sell your diamond ring our not.
Professional Service: You will be paired with a dedicated client representative who will work with you throughout the entire process, from getting a price quote to getting paid.
Our service is discreet and professional, we do not believe in haggling or pressuring you into a sale. We simply offer our best prices upfront.
Convenience: Sell online or in person, our service is designed with you in mind. Our most popular option is our online service, allowing you to sell from the comfort of your home.
We pay for the shipping and insurance of your items, notify you once we receive them at our office, provide a final offer and payment.
Reputation: We are proud of our a A+ BBB rating and over one thousand customer reviews.