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What is my diamond ring worth?

posted by Editor on November 17th, 2012

The truth is your diamond ring is worth as much as someone is willing to pay for it.  But of course you want to make sure you get the maximum value for your diamond ring but the real question is, what is the true value of your ring?  You will need to get a diamond ring valuation where the ring is broken down into value based on the value of the diamond itself, the gold, silver or platinum of the ring plus the design: how much work went into crafting the ring and was there a special artist behind the design?  All of these things combined will determine what you can get in the open market for your diamond ring.

However getting a diamond ring valuation is critical but equally critical is finding a place where you can both get a decent valuation done as well as a place that is willing to pay as close to the market value as possible. Usually it is in one of these two situations is where people lose money and they don’t get the maximum value for selling their diamond ring.

What options do you have for selling your diamond ring and getting a good valuation?

Option 1: The traditional method, go to a diamond store, get your diamond and ring valuated on the spot. They tell you what it is worth and if you want to sell it to them, they will pay slightly less. Sound a little too familiar? Well they need to make a profit as well so you can’t always expect the best value.

Option 2: Try a site like diamondvaluation.com and send in your diamond in the mail. Get your assessment and get a check sent to you by UPS within 24 hours.  Sounds too good to be true?  You can check their reputation online and do searches on the company and you will find no complaints and if anything happy customers and even shocked ones that were not expecting much but were overly satisfied by the value they got in return compared to what their local diamond and jewelery stores were prepared to offer them.

Were not saying to just trust any old diamond store but regardless of the store whether online or land based, you’ll want to do your research to make sure you are dealing with someone that has some reputation and has some history of being in business.  If anyone has had a problem with them, usually you will find a review of them online.  If you see no complaints at all then it is probably one of the better signs as happy customers don’t always take the time to complain but unsatisfied customers always go out of their way.