How much is a diamond ring worth? Asked Brett
How much is a diamond ring worth? Asked Brett
Hi! I found your promising website when I was looking for prices of diamond rings but soon it turned out that it’s needed to be an expert to determine the value of diamond rings. There are so many different diamond rings and so many different prices, that’s why I decided to contact you. I inherited my mother’s engagement ring which is a nice diamond ring but I would like to sell this ring. Please help me to find out the value. Thank you! Best, Brett
Brett from Dallas in Texas
Hello Brett! Thank you very much for contacting the reDollar appraisers. We are here for your needs. If you are not familiar with the appraisal process of diamond rings then it’s more than clear and comprehensible that you need help from an expert. Diamond grading is a very complex issue and the definition of value strongly depends on many facts and characteristics which need to be considered. It’s our most important task to help people like you, not to convince you for selling with us, our aim is to prevent you from scam and a bad selling experience with unreliable buyers.
reDollar appraiser, Maria Tait
Brett wants to know, how much is a diamond ring worth
Brett: Hi Maria! Thanks for your message! I’m happy to have an expert on my side to find out how much is a diamond ring worth. What kind of information should I provide you?
Maria: Hello Brett! First of all please send me a photo of your diamond ring. That way I can see the ring and on basis of its appearance I can ask my respective questions. If you have a certificate of your diamond ring, please be so kind and send me a copy by email. If you don’t have a certificate, don’t worry. We can also create a proper appraisal without having certificates.
Brett: Alright! I have just made some pictures of the ring. Please let me know if you like them or not.
Maria: Thank you Brett! The photos are very good and I can visually recognize a beautiful white gold or platinum diamond single stone ring. The ring has indeed an old-fashioned design. What do you think how old the ring is?
Brett: I know that the ring is very old. First it belonged to my granny who married in 1923.
Maria: Alright, that’s what I was thinking about. The diamond has an old-brilliant cut which was typical for the early 20th century. Very often you can find out more about the age of a diamond ring when you know the diamond cuts and when you know when they were popular.
Brett: Of course, that makes sense!
Maria: Also the mounting of your diamond ring is very interesting. The old-brilliant cut diamond is mounted in an octagonal millegrain mount to an engraved and pierced strip. Could you please check the ring for hallmarks or stamps?
Brett: Yes of course! Where do I find the hallmarks on diamond rings?
Maria: You should find the hallmarks on the inner side of the diamond ring. With a 10 power loop you should be able to spot the hallmarks. If not, then we can estimate the value for platinum and gold separately. I exclude the possibility that the ring is made of silver, it’s not proven but my feeling says it could be a platinum diamond ring.
Brett: I could really find a hallmark! It says “Pt. 950”. What does that mean?
Maria: Great! I was right. The hallmark Pt 950 tells us that your diamond ring has a platinum mounting of 950 platinum. That’s good to know. Now we concentrate on the diamond. Do you have a ruler handy?
Brett: Not handy but I can measure the diamond if you want.
Maria: Yes, please measure the diameter of your diamond, that way we can estimate the carat weight.
Brett: The diamond has a diameter of 7.5 mm.
Maria: Ok, then we can assume that your diamond has a weight of circa 1.5 carat. Unfortunately I cannot check the clarity, fluorescence and the shape of the diamond in detail. To do that I would need to check the diamond by myself but that does not influence the appraisal process significantly. Of course the quality of a diamond is a very important factor but for my evaluation from afar I will consider the unratable quality. At least, please tell me the weight of your diamond ring.
Brett: I could weigh 5 grams for my diamond ring.
Maria: That’s fine. Now we know that the material value of your diamond platinum ring is $169.69. This is the raw material value for the platinum. But we also have to consider the value for your diamond which is part of the ring.
Brett: What do you think Maria, how much is a diamond ring like mine worth?
Maria: I would estimate a fair market value of circa $5,000-$8,000 for your diamond ring.
Brett: Wow that’s a lot of money!
Maria: Yes it is but you also have to consider that currently 1.5 carat loose diamonds are traded for some thousands of Dollars, depending on the quality. So the price is appropriate for such a beautiful diamond ring.
Brett: I’m really surprised. This price exceeds my expectations by far.
Maria: What I didn’t took into consideration is the profit which a potential buyer will deduct. But in our opinion this margin should not exceed 15%.
Brett: Thank you so much for your appraisal! Now I’m well prepared. I will oversleep my decision but this amount of money gives me a very good perspective for my private expenses. Thank you so much Maria! I will definitely recommend you to my friends.
Maria: My pleasure Brett! You are very welcome!