Determining Valuation: What Factors Into a Diamond Ring Appraisal?

When people look to get the most value out of their diamond ring, they may look to its initial appearance as the primary indicator of how much it will be worth. The more beautiful it appears to the naked eye, certainly the more money you’ll be able to get for it, right? Well, determining the valuation of a diamond ring is a bit more involved — and understanding the basic ins and outs of the appraisal process will better equip you to get the most cash or trade-in value. Here’s what you need to know:

Considerations for Diamond Ring Appraisal

Diamonds are evaluated by four aspects: Color, Cut, Clarity, and Carat weight. Appraising a diamond from a ring, pendant, or earring depends on the stone itself — not merely how pretty the setting is. The Gemological Institute of American (GIA) has an established grading system that evaluates diamonds based on a set standard. When choosing an appraiser, it’s essential to make sure that they’re accredited and certified. Some major jewelry brands will include an appraisal, while an independent appraiser can help with the heirloom of family pieces.

In addition to these guidelines, appraisers like those at Trade In My Diamond use another set of standards when valuing a diamond. For instance, it may be harder for mounted stones to have an accurate appraisal than loose ones. Plus, jewelers consider the item’s brand, history, and the value of the setting’s metal when evaluating a piece of jewelry.

When Should I Get a Diamond Ring Appraisal?

An appraisal of your jewelry is necessary for proper insurance and can help you when filing a claim if the item is lost or stolen. Have your jewelry appraised right away, so you can get it insured and not have to worry. It’s also important to have all your fine jewelry re-appraised every five years, as the value of stones and precious metals can increase over time. Once you do, be sure to update your insurance policy immediately.

How Much Does a Diamond Ring Appraisal Cost?

The fees that professional appraisers charge can vary by location and by their own level of expertise. Be wary of a quote that’s much lower than others in your area (and you should shop around for the most reputable appraiser), as this individual may not have the proper experience to value your diamond. Also, be careful of appraisers that charge a percentage of the item’s value for a fee instead of a flat rate for service. Appraisers who charge based on their valuation may have a vested interest in inflating the jewelry’s value.