When purchasing a wedding diamond, jewelers use a particular method for determining the value of the stone. Cut, color, carat and clarity are known as the 4C’s and are useful in examining a diamond’s characteristics and worth.
If you’re in possession of a diamond engagement ring, you may view the stone differently than its physical properties alone. That piece of jewelry comes with a lot of memories. If you’re trying to decide whether you should sell your diamond, you may need to weigh its emotional value against the financial value.
Have you considered: what’s the emotional value of your diamond?
An Artifact of History
Most jewelry represents a moment in time or an artifact of your history. From your grandfather’s watch to your mother’s pendant, every piece conjures a feeling that seems to be buried beneath the veneer. Diamonds can be especially triggering after a divorce because of the painful irony of the stone as a symbol of longevity and durability.
Your diamond engagement ring may be the most expensive piece of jewelry you own. You may believe you’ll never have anything like it again. You may, as your mother did, want to pass it on to your daughter as it’s still a part of her history. You may recall memories of choosing it, designing it or remember the moment when it was presented to you. You may remember your wedding vows or the painfulness of removing your wedding diamond for the first time during your divorce.
Can you look at the piece as a beautiful and valuable piece of art and separate it from memories of your marriage?
What’s the financial value of your wedding diamond?
Historically, diamonds hold their value – the price per carat of diamond in 1990 was $13,900 and in 2016 that had increased to $30,925. Consider that, with inflation, $13,900 in 1990 was worth $25,524 in 2016. A diamond, plain and simple, has thus far been a great investment. Is it time for you to cash in on that investment?
If you’re able to look at your wedding diamond ring differently, removing its emotional value, you may be able to measure its worth by what it can provide for you now and in the future. For instance:
- What would it mean to you to pay down attorney fees, student loans or credit card debt?
- What would it mean to you to go on a vacation or take your kids on a fun trip without having to pay it off month-by-month when you get back?
- What would it mean to you to have an emergency fund?
- What would it mean to you to have money towards a deposit on a new car?
The best way to assess the financial value is to get your ring valued. Armored with that information, you can then weigh the emotional value against the financial value and you’ll be in a better position to make a decision to sell or not.
Jewelry holds memories and sentiment for those who possess it but it may be time for a new start. When you’re ready to build new memories, alone or with your family, selling your engagement ring may be a powerful way to transition into a life you love.
Worthy is dedicated to providing sellers and buyers with that ultimate win-win. Every day they bring together buyers and sellers with their luxury auction marketplace. Worthy is led by the very best in the luxury goods market and they work together to bring you the fairest market value for your valuable items while providing stellar service driven by transparency, integrity, privacy and convenience.
Disclosure: I am an affiliate of Worthy which means that if you make a purchase/use their service, I will receive an affiliate commission at no additional cost to you.