Have you recently decided to sell your diamond engagement ring or other piece of fine jewelry? It is important to understand how much your ring is worth before making a sale. The more that you understand these factors, the better chance you have of guaranteeing that you receive a fair deal for your piece.
An experienced jeweler is the best way to assess the value of your piece. During this process, known as an appraisal, the jeweler will evaluate several factors such as the materials used to craft the jewelry, the age of the piece, quality, and other existing conditions.
Best Time to Sell Engagement Rings and Fine Jewelry
Now is a better time than ever before to sell engagement rings and fine jewelry. The value of these pieces continues to rise. There are numerous reasons that people choose to sell engagement rings and other pieces of fine jewelry.
Reasons to Sell Diamond and Precious Stones:
- Emotional Reasons (ex: after divorce, breakup)
- Rising Price of Gold
- Quick Extra Cash
You can decide whether or not you are ready to sell your ring after you determine its value. Continue reading to explore the factors used to determine how much your ring is worth.
Determine Ring Value
The first step to selling your engagement ring or other piece of fine jewelry is to determine how much it is worth. A jewelry appraiser is an educated professional who is skilled in assessing the value of fine jewelry pieces.
There are some key factors that a ring buyer will take into consideration before making you an offer for your fine jewelry.
Stone
The type of stone your ring possesses is the most significant factor in determining how much your ring is worth. Determine what type of stone that your ring possesses. The most popular ring stones include diamonds, emeralds, rubies, and sapphires.
Material
The band material is major factor in the resale value of your ring. Gold is the most popular and sought after ring band material. Gold generally ranges from 10k to 22k. The higher the ranking, the more pure the gold is. Platinum is the highest value ring material, although this is less common.
Clarity
Clarity refers to the number of flaws in the gem. The average diamond ring does not have flaws that are visible to the naked eye. However, truly flawless diamonds are very rare. A professional jeweler can evaluate a gem to determine its true clarity.
Cut
A gem’s cut refers to how well it was processed and reflects light. An appraiser ranks a gem’s cut from excellent to low grade.
Size
Diamonds and other precious stones are measured in units called carats (CT). The larger the carat, the bigger the stone is in size, and the more valuable it is likely to be.
Overall Condition
The overall condition of the ring is also a major factor in the value of the piece. A piece that with excessive damage, scratches, or other deformities may not be worth the repairs needed.
Designer Rings
Designer rings have a high resale value and are worth more than non-designer pieces. Your ring may be valuable if it is a signed brand, such as Tiffany & Co., Van Cleef & Arpels, Cartier, etc.
Antique Rings
Vintage and antique rings may be worth more than modern pieces, depending on the materials used and the condition of the jewelry.
Where to Sell an Engagement Ring and Fine Jewelry
The following advice is important to follow if you have decided that you are ready to sell your engagement ring or other fine jewelry.
1. ) Avoid Internet Scams
It is in your best interest to avoid internet jewelry resale websites. Many of these sites charge you to send in your piece to be evaluated. Once they have your jewelry in their possession, they will then offer you a low-ball piece to keep it.
2.) Choose Only a Qualified Gemologist
Only a certified gemologist can provide you with an accurate and honest assessment of the value of your fine jewelry. A reputable jewelry broker will not charge to assess the value of your ring.
Vivid Diamonds Miami Florida
Contact a professional jewelry appraiser to determine the true value of your ring. Vivid Diamonds and Jewelry is Florida’s trusted authority for buying or selling diamonds and fine jewelry.
Vivid Diamonds employs world-class gemologists who are happy to provide you with a fair and immediate offer for your diamond or precious stone jewelry. Contact Vivid Diamonds today by scheduling anappointment online.
