As the old adage goes – “Nothing is permanent in life.” This applies to everything we love and cherish, including our treasured pieces of jewellery. So, when the time comes to move on, it makes perfect sense to dispose of old jewellery that remind you of the past.

Many people like to sell their used diamond rings for various reasons, and it is a good choice if they are planning to buy a new one. Knowing the resale value of your old diamond ring is so much important if you want to make profits. Even though reselling your used diamond ring will help you get its original price, you will be able to bargain for a reasonable price if you know its resale value.

Just like all other equipment (mainly a car, mobile, etc.), a diamond ring also losses its value while you are planning to resell it. It is said that selling your diamond rings (used rings) will lose you around 30% of their original price. Here are some methods by which you can know the resale value of your diamond ring.

How Can You Find the Resale Value of Your Diamond Ring?

There are a few methods by which you can find out the resale value of your diamond ring, and some of them are the following.

  • Checking for the value of a Diamond Ring Online 

Doing some research will help you calculate the average price of your diamond ring. But in this case, you are not able to estimate the true value of your diamond ring. Nowadays, many online services are available to find the resale value of your diamond ring. So, if you want to know your diamond wedding ring value, then you can utilize these online services where you can provide its details. By evaluating the details provided, the online services will find their resale value.

  • Get a diamond ring appraisal from a professional or local store

Getting a diamond appraisal is a good choice to know the true value of your diamond ring. The appraiser will examine the 4C’s of the diamond, colour, clarity, and carat weight to determine its price. They go through a series of procedures or steps to examine the 4C’s because the price of a diamond ring completely depends on these features. Visiting a genuine or trusted local store is a good choice if you are trying to find the best place to sell diamond rings. Most of all, the local stores will have experts who are capable of determining the resale value of your used diamond rings.

  • Know the demand for your diamond ring

The price of diamonds fluctuates from time to time, so you should find the correct time to sell your diamond ring. Some diamonds do not lose much of their value even after being used for a long time, while others may have very less resale value. Most people think that the 1-carat diamond ring value is the same for all diamond rings, but it is not true. The value of the diamond may change with its carat weight, shape, clarity, and colour. The change in the original value of the diamond also affects its resale value. Sometimes, there are chances where your diamond ring can be in high demand because of its unique design and style, and in that case, you will be able to get a good resale value than expected.

  • Calculate the value of the diamond ring by deducting 30% of its original value 

The approximate resale value of a diamond ring is expected to be 70% of its original price. If you just want to find the average value of your used diamond ring, then it is better to use this method, where you can deduct 30% of its original price.

Bottom line

People like to know the resale value of their diamond rig for different reasons. Most people do not like to wear the same diamond ring for a long time, so they wish to change it after using it for a certain period. Thus, they must know the resale value to sell it for the best price. Those trying to know how they can find their Diamond Wedding Ring Value can make use of the information provided here.