Diamond Articles

How Much Is My Ring Worth?

March 23, 2017 - Diamond Articles
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When looking to sell a ring, you will likely have some questions. Top of mind is of course “how much is my ring worth?” and “how do I find out how much my ring is worth?”. Whether you purchased it yourself and know its retail value (at the time of purchase) or it was gifted to you and therefore you have no idea of price; there are a few factors to consider that will help you establish its resale value.

The value of your ring is dependent on the following:

  • The center stone
  • Diamond certificates
  • The metal
  • Where and how much it was bought for
  • Age of the ring
  • How you sell your ring

 how rings are valued

The Center Stone

If there is one main stone in your ring, this is often where most of the value is going to come from. So the first step is to establish what kind of stone it is. Is it a ruby, emerald, sapphire, diamond? Then you will need to ascertain its exact characteristics. The more information you have on the main stone, the better a position you are in for selling your ring.

 

Diamond Certificates

If the main stone in you ring is a diamond, you will need to know the 4 C’s of your stone in order to receive an initial valuation. These are:

  • Carat weight
  • Color grade
  • Cut grade
  • Clarity grade

With this information, diamond buyers will be able to calculate a price for your stone. If your diamond has been certified, you can find this information on the certificate. GIA certificates are the gold standard in the industry and as such their grading’s are very rarely disputed by any diamond buyer. As such, GIA certified diamonds often receive higher prices. Other diamond grading laboratories however vary in the reliability of their grading’s and so may be taken with a pinch of salt. To find out more on diamond certificates, click here.

If you do not have a diamond certificate or any paperwork with this information, a local jeweler will normally be able to provide this free of charge. You do not need to pay for a diamond appraisal.

 

The Metal

Most rings are made of gold, platinum or silver. Metal prices fluctuate, so their value changes on a daily basis. Therefore the metal value of your ring will depend on when you sell and the market on that day.

There are different types of gold including: yellow, rose and white. However it is gold purity and not color that impact its value. Gold jewelry typically ranges from 9kt to 22kt. But what does this mean? Karat weight refers to the percentage of pure gold: the higher the karat weight, the purer and therefore more valuable it is.

 how rings are priced

Where And How Much It Was Bought For

When it comes to selling and setting realistic price expectations for your ring, you should expect to receive between 25%-45% of the original retail price. However, it is important to note that large retail jewelry stores have higher markups than smaller, local jewelry stores. The lower the markup, the more you will receive at resale.

Furthermore, designer pieces such as Cartier and Tiffany rings perform well on the secondhand market, as most buyers will pay a premium for the brand name. If you still have the original box and papers that came with your ring when it was originally purchased, this will also add to its value.

 

Age of The Ring

If you are looking to sell an antique or vintage ring, this could help increase its price. Vintage is defined as pieces between 20-100 years old. Antique is defined as pieces over 100 years old.

Establishing a value for vintage or antique rings requires specialized knowledge. At WP Diamonds, our team of jewelry buyers are experts in jewelry history and designs. As such, they are able to assess and value your ring based on the current secondhand market.

 

How to Sell Your Ring

What is the best way to sell your ring? You have a variety of options available; the table below offers some insight into the pros and cons of each:

RING BUYERPROSCONS
WP DIAMONDS
  • Fast
  • Simple
  • Competitive prices
  • Sell online or by appointment
  • Appointments are limited to: New York, LA, Dallas, Birmingham (UK), London (UK).
EBAY / CRAIGSLIST
  • Easy way to sell.
  • Time intensive.
  • Difficult to set a reasonable reserve price.
  • Unscrupulous dealers.
AUCTION
  • Opportunity to work with jewelry experts.
  • Good for rare rings.

 

  • Auction house fees.
  • No guaranteed sale.
  • Auctions are held infrequently.
  • Auctions are only interested in certain types of rings.
PAWNSHOP
  • By pawning your ring, it is only held temporarily by the pawnshop.
  • Selling: Not gemologists or jewelry experts able to make strong offers.

 

  • Pawning: You need to be able to make the payments on time or you risk losing the ring as well as the money paid.
JEWELER
  • Local option.
  • You may know their reputation.

Selling:

  • They are limited to pieces that sell well in the local area and therefore may not be interested in your specific ring.

Consignment:

  • Lengthy procedure
  • Jeweler takes a percentage of the price.
  • No guaranteed sale.

 

What if I Don’t Have Any Information On My Ring?

The good news is that you can find most of this information out at no cost. You should not pay for an appraisal; a local jeweler should able to answer your questions free of charge. Even if they only give you an approximate idea of the details of your ring, this information will help a ring buyer provide you with an initial price range.

 

What is my ring worth? How to Get A Firm Offer

The best way to get a fair and firm price for your ring is to work with a professional jewelry buyer. At WP Diamonds we have a range of gemologists, designer, vintage and antique jewelry specialists on hand to value your ring. We can provide an initial price range based off of the information you provide, but our experts will need to examine the ring in person in order to give you a firm and final price.

With WP Diamonds, sell your ring in 3 simple steps:

  1. Fill out our online form to receive an initial estimate.
  2. We provide a free and fully insured shipping service (FedEx Priority Overnight) to our headquarters for a valuation. You will be notified once we receive your ring, where it will be opened on camera for your protection.
  3. We will then provide you with a final price and wire the money into your account or send you a check. Should you decide not to accept the offer, we return your ring to you, no questions asked.

Author
Bio: Written by one of our diamond, designer jewelry or luxury watch experts. With over 150 years of combined experience, our experts are able to comment on trends, share industry knowledge and provide diamond, designer jewelry and luxury watch education.

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