How Much is My Diamond Worth?

Sell diamonds and old jewelry is a fast and easy way to make a few extra bucks — especially if the jewelry doesn’t hold any particular sentimental value.

Unlike gold jewelry, a diamond’s value is calculated by many more factors than simply weight alone. Sure, many factors determine the cost of gold, but when you sell your gold jewelry, most locations calculate the value based on nothing more than weight.

Unfortunately, it is nearly impossible to calculate the worth of a diamond on your own. Diamonds and jewelry must be appraised by qualified professionals.

But that doesn’t mean you can’t get somewhat of an answer to the question “how much is my diamond worth” on your own.

Wondering “How Much is My Diamond Worth?” Here’s What Appraisers Consider…

It isn’t easy to determine exactly how much your diamond is worth. Appraisers take many factors into consideration. Color, clarity, cut and carat — otherwise known as the four Cs.

Next, the appraiser must consider the band and setting. Is it in good shape? What is the material?

Finally, other external factors contribute to the cost of diamonds such as market value. In other words, your diamond is worth exactly what other people are willing to pay for it. Still, this doesn’t mean you’ll get exactly what it’s worth (but we’ll get to that later).

The Geological Institute of America (GIA) has an official grading system for calculating the worth of diamonds and diamond rings Here’s what appraisers typically consider when you bring in either a loose diamond or diamond jewelry.

1. Color

Although chocolate or pink diamonds are all the rage right now, that doesn’t necessarily mean they’re worth more money.

If you have a white diamond, appraisers look to see how “white” it is. Any yellowish or brownish tints can significantly degrade the stone’s value.

2. Clarity

As appraisers evaluate color, they also look at the stone’s clarity.

At this stage, appraisers look for any defects or abnormalities called “blemishes” and “inclusions.” Blemishes are located on the diamond’s surface while inclusions are within the stone.

Most of these defects are not visible to the naked eye so appraisers use binocular equipment at 10x magnification.

3. Cut

Contrary to what the term implies, a diamond’s cut does not refer to its shape.

Instead, it describes the stone’s internal and external characteristics and crystal structure. Diamonds with a high-quality cut are more brilliant and luminous.

When appraisers evaluate the stone’s cut, they look at facets inside the diamond that contribute to three factors: symmetry, polish, and proportions.

4. Weight

What might be the most significant factor contributing to a diamond’s overall value is its weight or carat. Carats are used for measuring the mass of not only diamonds but all gemstones and pearls.

One carat equals 0.2 grams and each carat correlates with a particular price. Diamonds that weigh more are usually — but not always — worth more than lighter diamonds.

Once you’ve figured out how much your diamond is worth, you’ll need to find someone willing to pay close to the value. Easier said than done.

Deciding where to take your diamond after you’ve determined its value makes all the difference. Pawn shops typically sell their gemstones and gold to third parties like jewelry makers. Unless you sell the diamond or jewelry yourself, you’re probably not going to get what it’s really worth. Remember: all businesses need to make a profit off the transaction.

Even if you sell it yourself, you still probably won’t get exactly what you paid for it. Anything pre-owned usually sells for less than the same item new.

As you can see, that’s why it’s important to understand the real value of your diamond — so you can get as close to that value as possible when you decide it’s time to sell it.
Focus keyword: how much is my diamond worth?

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