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How much are your diamonds worth? There are many possible answers to this question because diamonds have a tremendous range of monetary values, and it is hardly reliable to base its value on the size or color alone. Many factors determine the overall value of diamond jewelry. If you are interested in selling your diamond jewelry in Atlanta, you should know what price to expect, and value can help you estimate a price. There are 3 types of value to consider.

Intrinsic Value

Intrinsic value refers to the basic value of the materials in jewelry, or its components. The formula for this is: value = metal value + gem value. The metal of a piece of jewelry that holds the diamond gem in place and the diamond itself are totaled based on current market values for these precious materials. This value overlooks the style or beauty of a piece of jewelry, and essentially values it as if you were going to sell it for parts. The sell price of a diamond is based on wholesale price (based on the shape, size, color, and clarity of the diamond) modified by the grade of its gem cut. This value changes on a daily basis.

Resale Value

If you want to receive cash for jewelry, you should also consider the resale value of diamonds. Sometimes, this value can be higher than the intrinsic value of the precious metals and gems that compose the item. The formula is: intrinsic value + workmanship (the effort put into designing and crafting the piece) + style = resale value. Resale value can improve based on the popularity of a certain style (if it was recently seen on a celebrity, for example) and the reputation of its brand (Tiffany, Cartier, etc.).

Appraisal Value

Those who’d like to sell used jewelry should also learn the appraisal value of their diamonds. This figure estimates the cost to replace the jewelry. This is not necessarily a number based on the quality and pureness of the gems themselves. It is based on an insurance appraisal, which details the replacement cost of a lost, stolen, or damaged item of jewelry. It takes the retail value of a similar replacement into account.

Note that the value of a piece may be affected by its new value vs. used value. If you are interested in selling diamond jewelry in Atlanta, there are many factors that determine its value. Your best course of action is to visit a professional diamond buyer who can find an accurate value and offer you a competitive price for it.