There are many reasons why people have old engagement rings. The most common reasons are usually because of divorce or engagement rings that have been passed down. Other people often upgrade their engagement rings for a new style or bigger center diamond.
What Impacts the Resale Value of My Old Engagement Ring?
Determining the value and price of old engagement rings is a difficult process. It should be done by a trusted and reliable jewelry consignment company.
However, you want to be familiar with value factors regarding diamond prices. It’s not necessary to know everything about engagement rings, but knowing the basics protects you from low offers.
Several factors contribute to the price and value of a diamond engagement ring. Some factors affect the price by the thousands and others by the hundreds.
Before you sell your jewelry for cash, you should have a general idea of its quality. In this article, we’ll go over some of the big things diamond experts look for when you sell your jewelry for cash.
How Quality Affects Your Payout
When you go to sell your jewelry for cash, a diamond expert will examine the cut quality of your engagement ring. Round brilliant diamond center stones have cut grades, whereas other diamond shapes do not. Excellent and Ideal cut grades are the most valuable and have the best light performance. Other diamond shapes have a proportion range for ideal cut quality.
Diamond clarity grades let an appraiser know how eye-clean your diamond is. Eye-clean diamonds do not have noticeable inclusions and blemishes to the naked eye.
They may have varying degrees of inclusions under 10x magnification and beyond. The presence of noticeable inclusions under 10x magnification is what determines a diamond’s clarity grade.
When you sell your jewelry, a higher clarity grade will increase the amount of cash return. Diamonds with Very Very Slightly, Internally Flawless, and Flawless diamonds are the most valuable. Flawless diamonds are extremely rare and increase your payout when you sell your jewelry for cash.
If you know one thing about engagement rings, it’s probably carat weight. Carat weight is a significant factor when it comes to reselling your diamond. Engagement rings weighing 2 carats are more likely to increase the value, in most cases.
If your cut quality, clarity, and color grades are low, your 2-carat diamond isn’t worth as much as a 1-carat diamond with higher grades. Even lower quality diamonds in larger carat weights can cost thousands of dollars.
Diamond fluorescence is the way a diamond glows under UV light. Typically associated with a blue glow, diamonds can also have orange or white fluorescence. However, blue is the most common.
A diamond’s fluorescence rating doesn’t affect diamond prices significantly but may affect appearance.
Diamond shapes of the same quality can vary in price and value. For example, round diamonds are the most expensive of commercial diamond shapes. They can have perfect proportions and light performance. No other diamond shape can match it.
Custom-cut engagement rings and vintage diamond engagement rings from different jewelry eras may increase the value of your diamond ring. These are usually inheritance jewelry or estate jewelry that have been passed down, not pieces purchased at modern fine jewelry retailers.
A certified engagement ring has documentation from a diamond grading lab stating the diamond grades are accurate. However, accuracy also depends on which gemological lab is providing your report.
You should buy certified engagement rings from unbiased gemological laboratories. Some labs are not as consistent with their diamond grading as others.
Typically, engagement rings with GIA grading reports or AGS grading reports tend to be the most accurate and respected by jewelry liquidation companies and fetch a higher payout.
Designer engagement rings command the highest prices when reselling engagement rings. As professional jewelry liquidation consultants, we are no strangers to appraising high-end luxury jewelry retailers.
Some luxury jeweler brands we have worked with include Cartier, Rolex, and Bulgari. We also make fine jewelry from popular jewelry chain retailers too.
The style of your setting doesn’t typically affect the value of your engagement ring significantly when selling your jewelry for cash.
Sometimes engagement rings with more intricate and detailed settings will cost more. Brand name designer settings will cost more than similar unbranded styles.
When you sell your jewelry, expect platinum engagement rings to command higher price payouts than 14K or 18K gold engagement rings. Platinum has a higher spot price and higher density than gold. It takes more platinum metal to produce an engagement ring than it would if it were gold.
Whom you sell your jewelry to has a huge impact on price payouts. Pawn shops and Cash for Gold stores have trained employees, but aren’t usually jewelry industry professionals
At TruVal, our trained professional jewelry appraisals have over 40 years of experience. We have worked with high-end luxury jewelry and have established a name in the jewelry industry for ourselves.
Let TruVal Do the Work for You
At TruVal, we aim to provide the sensitivity and fair pricing assurance you deserve. We offer convenient services online or at our business location in the famous Diamond District of New York City.
It might be easy to sell your jewelry for cash, but it might not be for everyone. Either way, we’re here for you every step of the way.
If you need to get rid of old engagement rings or jewelry, our process is easy and stress-free. Those in the New York area can book an in-person appointment at our headquarters. For those outside the area, we offer virtual transactions as well.
After careful observation of your jewelry either in-person or online, you will receive an offer. You may accept or reject the offer at no cost to you. If you accept your offer, you can be paid via check or bank wire.
We’ll do both you and your jewelry the honor of an honest, fair, and accurate experience. If you’d like to see what fair price TruVal can give you for your old engagement ring, we invite you to give us a call or fill out our form online.