Have you ever looked at an old diamond ring sitting in your jewelry box and wondered what its inherent monetary value was? Did you ever wish that you could look at a diamond and have an idea about how much it could fetch for? If so, this article is for you: we’ll explore the value of diamonds – particularly of the diamond already present in your ring.
The value of diamonds is highly dependent on a number of factors, as you’re soon to find out, but they also depend on another factor: you. Are you willing to go out there and fetch the maximum value for your diamond, or will you let it “wait” while you try other things?
How much is the diamond in your ring worth? There’s the straight-forward answer, but then there’s another answer: it depends. Because if your unwanted diamond jewelry sits uselessly in your safe or jewelry box, its worth drops to zero. Here’s a quick guide for how much the diamond in your ring is worth.
Before you go about selling your diamond jewelry, it helps to have a knowledge of what you can expect for the diamond in your possession. You can gain this knowledge by knowing what goes into a diamond’s value – this will help you predict how much the diamond in your ring is worth.
The Four C’s
The “Four C’s” of a Diamond’s Value include these factors:
Color, first, usually looks at the hue of your diamond: is it yellowish or does it have a brownish tint? If it does, it’s probably not worth as much as the white, colorless variety of diamonds, which are rarer and subsequently more expensive. This is because yellow and brown colors are very frequent; other colors such as blue or red might enhance a diamond’s value.
Clarity generally refers to the condition of a diamond, including defects that might be present. Does the diamond withstand scrutiny under magnification? This generally does not have as much bearing as the diamonds present in diamond rings, because it is difficult for these types of diamonds to retain perfectly clarity.
Cut includes facets like the shape of a diamond, as well as how the diamond’s inherent shape has been handled.
Carat refers to a diamond’s weight. Don’t confuse this with Karats, in gold, which measure a gold’s purity. In diamonds, a carat will equal one/fifth of a gram, meaning a five-carat diamond weighs one gram.
The Value of Diamond Carats
Now that you have an idea of what makes up the quality of a diamond, it’s time to look at the quantity present to get a more accurate idea of the kind of value your diamond possesses.
Keep in mind that a single one-carat diamond will be worth more than the sum of two half-carat diamonds. This is because the amount of carats in a diamond go into judging its value. As one of the four C’s, this gives the one-carat diamond an advantage over smaller diamonds that add up to one-carat.
According to the Wikipedia entry on Diamonds, diamonds are mined at a rate of 130 million carats annually, with a total value of $9 billion. Divide those numbers and you have an idea of the approximate average of how much an individual carat is worth – approximately $69. This number, however, serves very little purpose, as the value of whole diamonds increases the more carats they contain – for example, the Hope Diamond contains about 45 carats, and has much more value than assorted diamonds that would add up to 45 carats.
Your Personal Diamond
Now that you know what to expect from a diamond, it’s time to see how your diamond stands up to these tests. Look at it under a magnifier. Examine the cut. Do you know how many carats your diamond is? What is the color like? After you make a quick inspection, feel free to take your diamond to a jewelry in order to get an appraisal or estimate. If they charge a small fee, it might be worth it, especially if your diamond is of particular quality or size.
As mentioned in the introduction, much of what you get out of your diamond will depend what you put into it. It won’t hurt to take your study of diamond values even further, learning about the precise math involved in particular cuts, as well as how to scrutinize your own diamond even more accurately.
Once you have an idea of how much your diamond is worth, you can start looking for a buyer who is interesting in your price range. Continue to explore Sell Gold HQ for more about selling diamonds, gold, platinum, and other precious commodities.