The quality and carat weight of the diamond. Diamonds vary hugely in value based on the four Cs – cut quality, clarity, color and carat weight. A large, flawless, colorless and well-cut stone is almost always worth significantly more than a payday loans Georgia state smaller, poorly cut one.
To value your diamond, an appraiser will look at all of these factors, as well as a variety of secondary factors related to the diamond’s value. The higher the quality of the stone, the higher its valuation will typically be.
- The metal value of the setting. Most engagement rings are made from precious metals such as gold, platinum or palladium. An appraiser will look at the value of the metal used to produce your engagement ring setting to determine its value.
If your engagement ring was produced in a certain location or has a sophisticated and ornate design that obviously required significant time and effort, this may factor into its valuation and result in a higher appraisal.
Where to get a Ring Appraised
Obviously we mentioned above that your best bet is to use BriteCo. They will help you avoid some of the pitfalls below. If you are looking for alternatives, there are several different places that you can go to in order to get your engagement ring or other diamond jewelry appraised.
Nearly all jewelry stores offer appraisals. Many jewelry stores have a jewelry appraiser on their staff. You can often contact the jewelry store ahead of time to schedule an appointment to have your jewelry appraised in front of you.
Another option is to go to an independent diamond jewelry appraiser. If you bought your jewelry from a diamond company, you may be able to get a complimentary jewelry appraisal along with your purchase.
Whichever option you choose, it’s important to make sure that your appraisal is carried out by someone with the proper training and qualifications.
We recommend choosing a gemologist-appraiser. These people are trained in both gemology and jewelry appraisal techniques, allowing them to provide a thorough and unbiased analysis, description and valuation for your diamond jewelry.
There are numerous different appraisal and gemology entities out there, several of which offer jewelry appraisal training. We recommend using the GIA’s list of appraisal associations to pick out a trustworthy, professional appraiser for your diamond jewelry.
You can also use this “find an appraiser” search tool from the American Gem Society to locate AGS-certified appraisers in your area.
An Independent Appraiser: What to Know
Secondly, be aware that even an accredited jeweler, appraiser or gemologist can be tempted to be harsh in their appraisal of your ring. They might bash a ring you bought from another source if they think they can convince you to buy something from them. Their incentive is that the profit on a ring is significantly higher than the charge for an appraisal. Even if there is an appraiser that works “independently,” they may receive kickbacks for referrals. Because of these financial kickbacks, they can be tempted to be harsh.
When agreeing to an appraisal, always state upfront that you already purchased the diamond and are unable to return it. This way, they have no incentive to bash the ring unnecessarily. Certainly, not all jewelers or appraisers work like this, but you should protect yourself in case you run into the exception to the rule.
Thirdly, try to have your appraisal conducted in front of your eyes to verify that your ring isn’t switched with another one. You can also familiarize yourself with your diamond’s details, such as its measurements and blemishes, to ensure you receive the correct ring in return.