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How Much is My Ring Worth

JAMES   |   04-Sep 2018   |   536

The economy is dwindling, prices are sky high, expenses are roaring and you have lost your job and about one year has elapsed that you are not much with income and monetary resources. It’s been a long time after your marriage and you have a Jewelry Basket of Wedding Jewelry to rescue and make use of its investment value.

The engagement ring is no longer worn by you or your spouse and at the time of its purchase, the design was elegant and masterful, consisted of a sapphire center stone and bordered with numerous small colored diamond and gemstones. The idea of coming to know its worth on this date is tempting as the style and design of the ring has become old and out of fashion sense. You want to know the worth of your ring in order to make its resale at a competitive price as well as for income tax payment purposes.

The jewelry industry is filled with options for jewelry appraisal and valuation with scores of gemologists and jewelry experts to ascertain the right and perfect price to its successful reselling.

The coming to know of the Right Value of your Ring, of its worthiness is determined by the factors like the type of center stone or diamond, the hallmark certificates it received, the metal, place of purchase, the time of use, and the manner of its sale.

Realistically, you will only get around 25-45% of the original retail price of your engagement ring and its best to go for a small jewelry to sell off your jewelry as they have lower markups to get a higher resale price and we can find that designer and branded antique/vintage jewelry offers a premiumized value of higher sum on its reselling.

The manner of selling of diamonds also plays an important role in assuring the Resale Value of your Ring, a pawn shop will only very less and the advantage of the expert services for valuing your ring is not present in a pawn shop.     

A reputed seller will offer competitive prices matched with the market expectations, while an online seller will only offer the easy and fast way to sell but not necessarily a better price.

And, an auction way of Selling your Jewelry is not much preferred as this is a sure shot route used for selling very fine and exquisite vintage jewelry and this costs about a larger portion of auction house’s fee to be paid.

Following are some points to the manner of ascertaining the right worth of your ring:

  • Jewelry appraisal: Jewelry appraisal in the form of diamond/gemstone ring appraisal to come to know the retail replacement value of the ring is undertaken by summation of each of its parts like diamond, metals, and stone to ascertain its right worth for selling or for income tax purposes by comparing your ring with other Diamond and Gemstones Rings of the same carat, clarity and color grades. This role can be effectively be done by a diamond broker in the form of diamond appraisal and the aspects to be considered in this regard is that of color, carat weight, cut and the number of blemishes since the date of ring purchase, the GIA/AGS certifications received, if any are genuine or not, etc.

Generally, GIA/AGS certified ring offer better prices on its resale if the person has along with him or her the original papers of its purchase and other documents.

  • Resale Appraisal: This process is to come to know of the estimate of your the wholesale market, its scalability and worth in terms of the prevailing wholesale price.
  • Grading:  People can invariably undertake this process if the Diamond Ring Purchased by them years before is not a hallmarked one nor did it came along with any documents of certifications and for this the expert services of a professional gemologist can be used to mark in terms of the 4 Cs, the cut, the color, the clarity and the karat by GIA or IGI, etc.
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