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What to ExpectIn this section:
What is my engagement ring worth?One of the most difficult things for private sellers to realize, is the amount of money they will receive for their ring, compared to what they paid for it. Once you completely understand and accept the fact that you will be losing money on the transaction -- and you almost always will be losing money -- it is much easier to move forward with a sale. Remember: you are trying to get the best deal possible, not to recover the amount you paid.
How is the price calculated?To start, you should compare similar items which are currently on sale. You can start by looking at websites like Blue Nile and brilliance.com, and search for loose diamonds similar to the center one in your ring. Once you get an idea of what similar loose diamonds sell for, you can get a ballpark of what to expect by considering the following parameters:
Typical real-world exampleYou are looking to sell the following:
Now let's calculate backwards:
What if I paid more for my engagement ring?You may have paid a much higher amount, if you purchased the diamond at a retail store. If the ring was custom-designed, you may have paid a premium for the design and craftmanship of creating it; however, for the dealer, the ring itself is only worth the gold they can melt it for, and they will try and negotiate that amount as well. They will most likely pay 60% below retail price for the center diamond. As disappointing as it may sound, if you get a $1,400 offer for such a ring, you should probably take it.