How to Know the Value of Diamond Rings

Finding out the value of a diamond ring can help a buyer to decide how much to pay. A diamond ring has many different pricing components. Some of the things that the buyer will need to know to find out the approximate value of the ring includes the weight of the diamond in carats and the type of metal in the band.

1. Ask the jeweler to give you the details on the diamond ring you are considering. Carats and karats are two terms that you will need to know when shopping for a diamond ring. The weight of a gemstone is measured in carats, while karat is the purity of the gold in the ring band.


2. Find out how many carats the diamond has and the specifics on the band metal. Usually the more carats a diamond has the more it is worth. If the ring band is gold, ask the jeweler if the gold is 14 karat or higher, with 24 karat being pure gold.


3. Contact a jewelry appraiser to set up an appointment so you can get an idea of the approximate value of the ring. Give the appraiser the information that you have on the ring. Since the appraiser does not have the actual ring to examine, you will only be able to get an estimate for the ring’s value. Have the appraiser give you the estimate in writing.


4. Buy the ring from the jeweler if the price is close to the value of the appraisal. You can negotiate with the jeweler if you think that the price is too high. Show the jeweler the appraiser’s estimate to help you get a better price for the ring. Finalize your purchase once you agree on the sales price.


5. Take the diamond ring to the appraiser to get an official appraisal. Once you know the value, call an insurance agent to purchase a policy to cover the ring. Give the agent the appraisal to make sure that the insurance policy covers the total value of the ring.