When you purchase a piece of fine jewelry, it’s surely your hope that you’ll be able to wear your new accessory for decades to come. Unfortunately, though, that’s not always the case. In the case of a divorce or financial hardship, you may eventually want to sell your diamond ring. So you may want to consider whether diamond rings hold value before you purchase one. Here are a few things to think about to make your diamond ring work for you in the future.
Resale Value for Diamonds
Over an extended period of time, diamond rings do tend to hold their value. However, if you do decide to sell your engagement ring, you should ultimately expect to come out with a loss. The reason? Most people are simply uneducated about the market value of an engagement ring that’s already been worn. It’s not uncommon for people to overestimate the resale price of their rings by 50%.
There are several factors that go into the resale value of a diamond. The diamond’s grade will need to be considered and should be verified with a grading certificate, which you should get when you purchase the ring. The 4 C’s (color, cut, clarity, and carat) are also important in the diamond’s value. Finally, the location of purchase and sale can make a difference. Worldwide brands demand luxury prices simply because of the recognizable name, so you’re almost always likely to make much less back than what you paid for your ring.
Of course, the resale value of a diamond can also be impacted by the time of year. Typically, engagement rings have three peak seasons every year: around Valentine’s Day, throughout the summer wedding season, and in the holiday season. By selling your ring around one of these times, you’re likely to get a bit more profit for it.
How to Find a Ring That Won’t Lose Value
First, think about the style of the diamond you’re buying. There are some cuts that are more timeless than others, and investing in one of these pieces can help the ring hold its value for longer. Think about getting a popular cut like the round brilliant, princess, emerald, oval, or radiant cut.
Some people consider buying antique engagement rings because they believe the piece will hold its value better. This strategy might actually be worth considering. Antique dealers and insurance appraisers know when they’re dealing with a genuine antique ring, and if the timing is right and the ring is in good condition, profits can exceed even the experts’ expectations. However, note that this outcome is the exception, not the norm.
No matter what kind of ring you buy, you can ensure that it retains its value by caring for it properly. Make sure that you have it cleaned regularly and store it safely away when it’s not being worn.
Select Your Perfect Diamond Ring with Mervis Diamond Importers
No matter what the perfect diamond ring might look like to you, Mervis Diamond Importers can help you find it. Our team consists of some of the most accomplished jewelry experts in Washington, D.C., so you can rest assured knowing you’re only working with the best. Our pieces are only made with the most beautiful diamonds, offering a sparkle and shine that’s sure to turn heads. If you’ve got a custom design in your head, we can help you make it come to life.
Now is the perfect time to invest in a diamond ring that will last for decades to come. Contact Mervis Diamond Importers to learn more.