Once in everyone’s life, there comes a situation that makes us sell diamond rings. The reason behind it can be different for different people. It can be because you are in need of cash, ring quality has reduced, or it just does not fit your taste. So, you decided to sell them to trust diamond rings buyers online. Also, the resale value of a diamond ring mostly depends on its quality and some other important factors. Following that, you must learn about the resale value and the reason behind the resale value being less than the initial price. In addition, you must also be clear on the stone value estimation to know how much to get to sell my diamond ring.

How To Know The Diamond Ring Worth?

The diamond ring worth or value depends on its purchase value, appraisal value, and resale value. Also, the initial price of the diamond ring will be high as compared to its resale value. Moreover, all the values play a crucial part in the diamond evaluation. The buyer will examine the gemstone quality and other key factors. Then, you can sell diamond ring for cash to them with the actual cost. Hence, below are the three important values that will determine the cost of your diamond ring.

1.      Purchase Value

The harsh reality is that the actual market value of any diamond jewellery near me differs from the purchasing price. Retail markups are to blame for this. Depending on the place where you bought your diamonds, they can range from 100 percent to 200 percent.

Wholesalers are Selling a Diamond Ring to retailers. They are purchased by the latter from the makers. Everyone wants to profit from the transaction. Therefore, the purchase price keeps rising. Furthermore, retailers contribute to the final cost by covering utilities, space rent, and employees.

2.      Appraisal Value

Professionals in the diamond industry assign an appraisal value while you look to sell my diamond ring near me. It refers to the total value of a diamond ring, including the diamond and its setting. These evaluations are generally inflated to over 100% of the retail price and do not reflect the genuine diamond value.

People who receive their initial appraisal value believe they are receiving a good deal. However, it is only beneficial to retail stores. In addition, when jewelers complete the desired transaction, insurance firms receive increased rates.

3.      Resale Value

Expect a significant price difference between the initial cost and the resale price when looking for a jeweler who is interested in buying diamond rings. Diamonds resale for between 25% and 50% of their original price. As a result, only rare and large diamonds are suitable for investment.

Conclusion

While considering the above factors, the diamond ring's resale value can be around 25% to 50% of its purchase value. So, you will be approximately getting $800 to $900 if your diamond ring initial purchase value is around $1500. Thus, the rest depends on the buyer's preference and market value.