How Much Is My Engagement Ring Worth?

Engagement rings can vary greatly in value depending on the size of the diamonds, along with many other factors. With diamonds being very difficult to grade, it can be tough for you to find and exact value. Diamond graders spend a good amount of time earning their certification by understanding what makes a diamond valuable. Along with a good deal of knowledge, many resources and tools are used to once again find the diamond’s value. While the ring’s content will affect the value, other outside factors are also used. This makes it difficult to value a diamond, but below are how the different parts of the rings are graded.

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Diamond Value

For most engagement rings, the most money will come from the diamond(s). As it was said above, diamonds are graded on many different factors. Despite this, the main things you can look for on your own are the cut, color, clarity and carat. These characteristics all have a rating scale that your diamond will be assessed on. The cut is not the shape of the diamond, but rather how it is cut to refract light in and out of the top of the diamond. The whiter the diamond the better, in most cases, some rare diamonds of unique color can be worth a lot of money. The clarity is simply how cloudy the diamond is, and carat refers to the size of the diamond.

Engagement Ring Setting

The setting that your diamond or gemstones sits in can also be worth some money. It is likely that your engagement ring setting is made from a precious metal such as gold, silver, or platinum. These metals are all valuable and you will be compensated from the diamond buyer for the amount of precious metal content that you send in. Diamond buyers will determine the purity of the precious metals, and then weight the amount of metal to see how much it is worth. The higher the purity, the more money the setting will be worth.

Economic Factors

I said above that there are outside factors to consider when valuing an engagement ring. One of these factors would be the price of precious metals. Metals like gold have a price that is often changing depending on the current state of the economy. By forecasting when gold prices will rise, you can ensure that you will sell your engagement ring for a higher price than you would have. As for diamonds, their demand is often highly reflective in its price. If you sell when the demand for a certain shape of a diamond is high, you could end up with a lot more money than you expected.