Whether you are just interested in knowing, or are looking to sell an engagement ring, finding the value can be a difficult task without the right tools. There are several parts of the engagement ring that will hold value, and will need to be assessed separately. Your ring could also feature other gemstones other than diamonds, which could further add to its value. Despite knowing, measuring, and grading the various factors that will influence an engagement rings value, your ring can still change in value due to economical affects.
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Grading A Diamond
Many people like to refer to what is known as The 4 C’s of Diamonds when initially looking at a diamonds value. The four c’s stand for color, cut, clarity and carat. This is where you should begin when finding how much an engagement ring is worth. Each characteristic has a rating system that your diamond will be assessed upon. For example, the color rating system will have the “whitest” diamonds graded the highest with it continuing down the scale depending on the amount of yellow tint. Some things like clarity will be hard for you to look at on your own because you will need a microscope or other tools. Diamonds are not easy to grade on your own, but perhaps you might have documentation that will tell you where your diamond grades on the various scales.
Valuing Precious Metals
Unlike diamonds, precious metals are much less difficult to place a value on. The formula for valuing precious metals is: (Purity% x Weight) x Price
For example, your gold setting for your engagement ring could weigh .25 oz., and is 12k gold. Gold purity goes up to 24k, meaning it is 100% gold, so the 12k setting is actually only half gold. Therefore the engagement ring contains a total of .125 oz. of gold (.50 x .25 = .125). Gold and the other precious metals have values that are constantly changing due to different economic reasons. The current price of gold is what you would use to complete the last part of the formula. If gold is at $1,100/oz., then you would do this to find the value: 1,100 x .125 = $137.50
While you could use these methods to find how much your engagement ring may be worth, getting an appraisal by a certified grader is your best option. Because engagement rings are this difficult to value, using one of the diamond buyers on our website could provide a valuation for free.