How To Determine Diamond Ring Price
Are you planning to buy a diamond ring soon? Then you’re probably interested to know how to determine diamond ring price. This information is important for diamond buyers because it allows them to avoid overspending on a diamond ring. One of the most important things you need to know is that the price of a diamond ring is determined by the quality level of the diamond. It determined the retail price of the new jewelry. From the quality of the diamond, you’ll also be able to tell the resale value of the ring. Read on to know more about the quality of a diamond.
The quality of the diamond
To determine the quality of the diamond, you need to know the 4Cs: color, clarity, cit, and carat. These are known as the four major quality characteristics of a diamond. If the diamond comes with a certificate then it will indicate the assigned values and grades of the diamond in relation to the 4Cs. If this is the case then it would be easy to compare the diamond with other stones. But if the quality grades of the diamond are not available, then what can be done is to have the diamond evaluated by a gem lab.
Examples of a gem lab are the American Gem Society (AGS) and the Gemological Institute of America or GIA. These labs can issue a certificate for the diamond for a fee. If you have a diamond ring that you want to sell and you need to know its value right away, then what you can do is to go to a broker. The broker will be able to get you a quote. You can even sell your ring online through a trustworthy site.
The market price of a diamond
To determine the market price of a diamond, the easiest thing you can do is to look for stones with the same 4C grades and then check their prices. You can even do this online. Search for several stones and then just get the average price. Now you have an estimate of the diamond’s value. This is an easy and reasonable method for estimating diamond ring price. If you’re doing your research purely online, then what you can do is to visit websites of popular jewelers in your area and then check for diamonds being sold by these jewelers. The prices posted by these websites are pretty good indicators of the market value of a diamond.
Determine the value of the band
To determine diamond ring price, you also need to calculate the value of the band and not just the stone. The value of the band depends mostly on the metal used to make it. So you need to know what precious metal is used in making the band. It could be gold, silver, platinum, or titanium. But you also need to establish the purity of the metal. A 14 karat gold band, for example, is actually composed of around 58% pure gold. After you have determined the purity of the metal you can look up the price per gram of the metal.
