Diamonds are a girl’s best friend, but the more expensive the diamond, the better friend it is! If you have been given a diamond ring, you may be curious how much it’s worth without having to ask the person who gave it to you.
Or perhaps you have an old diamond ring that has been passed down to you and you are curious to know how much it is worth.
Fortunately, it is not too difficult to be a diamond detective.
The value of a diamond is based on a number of factors, so take each of these into consideration and record your observations so that you can present this information to a jeweller to help them estimate the total value of the ring.
Pedal to the metal
Remember that the value of your diamond ring is not all about the diamond; you also should consider the metal in which the diamond in set.
Usually diamonds are set in gold or platinum.
To check what kind of metal your diamond is set in, have a look on the inside of the band of the ring. Here you will see a symbol that will indicate the kind of metal – “K” for gold and “Pt” for platinum.
The purity of the gold (yellow or white) is indicated by the number that follows the “K”, for example, 14K, 18K, 22K, or 24K, with 24K being the most valuable. Platinum is identified as 900Pt, Pt900 and 900Plat, and is a highly valuable metal, even more so than gold.
Once you know the quality and type of the metal in which the diamond is set, you can look at the diamond itself to determine its value.
A diamond is graded according to what is known as the “Four C’s” system. The fours C’s of the diamond are: clarity, colour, cut and carat weight.
Clarity and Colour
Use good lighting to check your diamond’s colour and clarity. Hold the ring under the light and check if the diamond has a visible colour shade (blue, yellow, pink etc.).
Also look if you can see any dark areas or flecks in the diamond as these naturally occurring imperfections decrease the overall clarity (and thus quality) of your diamond.
The cut of the diamond refers to the shape of the diamond, be it marquis, oval, round or princess. The more unique the shape or cut of your diamond, the more expensive it is likely to be.
The carat weight refers to the actual size of the diamond; the bigger the diamond, the higher the value. This is the most determinant factor in the overall value of the ring. The size of the diamond can range from a small size of ½ carat to a much larger 3 carat (and larger!).
The overall value of the ring is also determined by the condition the ring is in and the wear and tear on it. When inspecting your ring, check for chips and dents in the metal setting that could decrease its worth. If your ring is an antique in a good condition, this will make it more valuable.
Check here for further information on different types of diamonds.
Consult the expert
Once you have conducted your own inspection of the ring, make an appointment to see a jeweller. The jeweller may charge a small fee for this service, but if you are considering selling the ring it would be a good idea to get an accurate valuation.
If you don’t want to pay for an appointment, you can always compare your diamond ring to those of a similar quality to get an idea of what price range your ring fits into. Once you know what your diamond ring is worth, you can consider selling it in this price range.
Remember not to overcharge as people in the jewellery buying business will know if they are being ripped off.
At the consultation, you can alert the jeweller to what you have noticed about the metal, clarity, cut carat size, and condition.
Come with questions so that you can learn more about evaluating diamond rings. The jeweller will be able to use the information you give him or her as well as his or her own inspection to estimate the value of the ring. You will then know how many bucks you can expect for your bling!