Appraising your diamond ring is crucial, especially when you plan to sell or insure your diamond ring. People usually put off appraisal of their diamond rings thinking that a GIA certificate will do the job. However, GIA certificate documents only determines the qualities of the gemstone, and not that of the whole ring. An appraisal certificate, on the other hand, will have all the necessary details about your ring such as its authenticity, quality of gemstones, age, metal settings, and many more.
When is an estimate for appraising your diamond ring, you might wonder. How much does a diamond ring appraisal cost? In reality, this does not have a clear-cut answer, since it depends on many factors – the market value and the replacement value being two important ones.
When it comes to market value, it is the current market standards, which are used as reference to determine the value of the diamond. That is why market value of wholesale diamonds is different from that of the retail market. Hence, you must be aware of what market value is used to appraise your ring.
Diamond replacement value is the term that is used to refer how much money you will have to spend in order to purchase a similar item. This will depend on the present retail value of diamonds of similar qualities. Note that there is no guarantee that the replacement value of an appraised diamond remains the same even after many years. This type of appraisal is mainly done to insure a diamond ring.