6 Facts About How Much My Ring Worth in 2023
How Much is My Ring Worth?
Across our publication, the Diamocycle Dispatch, we take pride in helping consumers get the best knowledge of their rings’ worth. In this installment of the Diamocycle Dispatch, we will discuss the key indicators of your ring’s worth. We also unlock the secrets to getting the most value for your ring.
1# Knowledge Equals More Money.
We discuss how a knowledgeable person would go about monetizing the value of their ring. Finally, for an in-depth look and understanding of diamonds, we encourage you to review some of the pieces we have published on used rings.
2# Unlocking The Mystery Behind Diamonds
Diamonds are incredibly complex, and it is improbable that just by reading this piece, you can fully understand the diamond industry. Our publication, the Diamocycle Dispatch, seeks to take the mystery out of the world of diamonds.
3# What Matters Most When Selling: The Diamond Center Stone
The Diamond Center Stone of a ring determines the more significant portion of its value. Most Diamond Center Stones sold in the United States that are of considerable importance today have been certified by the gemological Institute of America or GIA. Antique rings may have diamonds that have yet to be certified by GIA, and because damaging this ring is not an option, the Centerstone will remain uncertified. AGS is also a well-respected lab for Diamond Center stones in the United States. If your diamond Centerstone has yet to be certified, is not an antique, and was sold within the last decade, this may indicate that it does not have significant value. Commercial quality Diamond Center stones are only sometimes certified by an agency less stringent than GIA. We encourage you first to understand the value of your Diamond Center Stone when understanding what your diamond ring is worth. in some instances; it may be advantageous to have a local jeweler that is well respected remove your Diamond Center Stone and send it to GIA for grading. This is because, with the GIA Diamond report, your ring is now a commodity that can be marketed worldwide.
4# Where To Research Your Diamond Center Stone
When researching how much your GIA diamond is worth in today’s Marketplace, we suggest you look at the Blue Nile. Blue Nile is the largest Marketplace for GIA-certified diamonds that are new online. However, if you were to sell your diamond ring on a used Marketplace, you must understand that it is doubtful that you would ever receive as much money as Blue Nile would sell your diamond. The reason is that whoever sells your diamond has marketing costs associated with capturing the value of your diamond from the retail consumer.
5# How Much Should I Expect From My Ring When Selling
You have captured an incredible return if you can sell your diamond for 70 to 80% of the listed value on Blue Nile on an online Marketplace after fees. Unfortunately, you are unlikely to sell your diamond locally for less than 50% of the listed value on Blue Nile.
6# Does My Diamond Setting Matter When Selling
It would help if you understood that your diamond setting, in most cases, will not matter when selling your diamond ring. Diamond settings have an incredible markup far more significant than the diamond Center Stone. There are a few exceptions to this rule. If you have a very rare antique Diamond setting, it can add considerable value to your diamond ring. Or, if a famous person owned your diamond setting, this can add value to your diamond ring. Another example of where your diamond setting could add value is if a famous storied maker made it. Some examples of famous makers are Cartier, Harry Winston, and Tiffany. An expert appraiser must determine how much value your diamond setting would add to your diamond ring. In almost 99% of rings on the market, the diamond setting adds little to any significant value to the resale of your diamond ring. If your ring is in the 1%, congratulations, you might get more Money for your ring when selling it.