Call Today 1-877-909-4653

Get the most MONEY now for your Diamond Ring

We specialize in diamond
wedding and engagement
rings, sell yours for
CASH today!

Get a Free Quote right now and see
what your Diamond is Worth!!

Diamond Appraisals

The Truth About Diamond Appraisals

Most Jewelry appraisals are far from the truth when it comes to actual retail and resale value. The reason why you have overly high appraisal amounts is because the appraisal was done for insurance purposes only.

If you are selling a piece of real estate the appraisal value is typically spot on with the actual value but when it comes to diamond and jewelry appraisals the opposite holds true. This is because insurance values are usually given at amounts up to 100% above the retail selling price. With such an inflated price this gives many a false sense of value for their jewelry as it could never ever be resold for anywhere near that price.

This also makes you think you are getting a great deal when purchasing gems and jewelry at a store. If the sign says appraised for $15,000 but you can purchase the diamond ring for only $7,500 you are thinking that your getting a 50% discount when in reality the appraisal was just inflated 100%.

Buying at half of the appraised value, what a great value! You must be making a profit of $5,000!

Of course not, if the value really is double why are they selling it for half price?

Why are Appraisals so Inflated?

  • Insurance companies are notorious for charging higher premiums for items that have a replacement value at a much lower price.
  • At stated above the sales tactic is helpful in giving buyers the impression that they are receiving a huge discount when in reality they are paying the normal price.

So What Happens Now?

Well now your realizing how the local jeweler ripped you off and the insurance company deceived you because what you thought was worth $15,000 is only worth $7,500. All diamond and jewelry buyers are going to offer you an amount well below the appraised value. Expect to receive approximately 40-60% of the appraised amount. The markup that the jewelry store has to make a profit is where the other percentage dissappears. Of course this varies depending on which store you purchased from. Unfortunately nobody will ever pay you the appraised amount but there is a solution. Ask for a re-sale, cash, or liquidation value price from a diamond expert like GGC & Diamonds or a jewelry expert. Make sure you do not receive an appraisal value which will differ greatly from a re sale value price.

If you have any questions at all or need help selling your diamond than please do not hesitate to contact us today.

Posted in Advice on Selling Diamonds | Tagged appraisals, diamonds | Comments Off on Diamond Appraisals
We are a certified GIA Diamond Grader and we also proudly abide by the Kimberly Process