How to Value Loose Diamonds – Natural Gemstones And OpalWARNING: Money Going Out Without Thinking...
So the time has come - and you think a diamond engagement ring is on the shopping list. But do you really know enough to make a good purchasing decision?
It would be quite irresponsible if you just went with whatever your favorite magazine showed on the finger of some celebrity.
You are going to pay good money (estimated about 3 months) from you or your intended's earnings, so you had better stop for a moment and read a little more before the cash goes out forever from your savings.
After all - What's a Diamond Engagement Ring Really Worth?
It's not as if you've had several of them before (or maybe you have) 
But here is the simple answer - even though it may not seem palatable. It just happens to be the truth.
In real basic terms an engagement ring (or any jewelry for that matter) consists of the following "You are going to pay for" components.
- Metal
- Gemstones
- Labor
- Taxes
- Profits
And you thought there was more right?
So let's start with the first one on the list - Metal.
Traditionally you have three choices. Gold, Silver or Platinum. With Gold going through the roof and Silver (the poor relation) following up at about 10 percent of Gold, you tend to find MOST Traditional Engagement Rings are crafted in Gold.
Platinum is now the rank outsider as the price has gone stupid!
But even Gold has a variation - so what is the best buy.
It depends...
What other rings are you going to wear with it?
No good putting a 9ct band next to an 18ct diamond ring. The lower quality 9 carat is going to wear out your (excuse me while I laugh) INVESTMENT in just a few years.
So ALWAYS keep like with like.
If your wedding Band is going to be 14 carat (karat) then make sure your Solitaire is made from the same metal quality.
But what's that quality worth?
Okay - follow along with me a moment. Gold is currently around US$1100 per ounce - but that's for pure gold which is 24 carat. So if you have a ring in say 12 carat (half pure) then 1 ounce would be worth approximately US$550 bucks.
But wait - there's more... (I always wanted to say that).
1 ounce is equal to 32 grams (give or take a smidgen) while MOST engagement rings are made with just 4 to 5 grams of metal.
Soooooo....
Your 12 carat ring (half pure remember) is valued at US$550 for 32 grams, so divide it by 32 (to get the price of ONE GRAM and then multiply that by the weight of your ring. ie: 550/32=$17.19 per gram MULTIPLIED by 5 grams = $86 dollars approx.
So why are rings so expensive?
Have you forgotten the other components already?
WARNING: Do NOT rush out and buy a Diamond Engagement ring until you have read the other articles in this series. It will cost you a very sad face when it comes to getting it appraised.
I should know. After 35 years as a qualified gemologist Appraiser and former member of the Valuers Council - Trust me - I know what goes into the price of a Diamond Engagement ring.
And the Best (or worst) is yet to be calculated!
If you'd like to be notified when the next part in this series comes available. Enter your email in the form below.
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