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Is Your Engagement Ring Valued Correctly?

Last updated on March 04, 2024

Why might you want to know your engagement ring’s value? 

You’re trying to sell it.
You want to insure it for its total value.
You’re curious about its worth.

Whether you bought the ring yourself or it was gifted to you (and you don’t know the price), it’s helpful to know its current market value. And many people are surprised to learn that a piece’s retail value doesn’t necessarily match the amount it would cost to replace.

In this article, we’ll first look at the factors that influence your engagement ring’s value. Then we’ll discuss how to find out if your sparkler’s worth is correctly estimated.


Factors that Influence Your Ring’s Value

How does the market determine how much an engagement ring is worth? It’s a combination of the following factors.


The Centre Stone

Not all engagement rings feature a main precious stone. For those that do, however, the gem is a determining factor in its value.

What kind of stone is it? A ruby? Sapphire? Diamond? Once you know the type of stone, look further to ascertain its characteristics. The more information you have about the centre stone, the more accurate your valuation. 


Diamond Certification

If your engagement ring features diamonds, the quality of those stones affects the piece’s overall value. The easiest way to determine a diamond’s value is to examine its certification.

A certified diamond lab report includes information about the 4 C’s:

Carat weight
Colour grade
Cut grade
Clarity grade

This information provides diamond buyers with the tools necessary to estimate its value. GIA (Gemological Institute of America) certificates are the gold standard in the jewellery industry; therefore, their gradings are rarely disputed by buyers or insurance providers. GIA isn’t the only reputable laboratory, however. You might also see documents produced by AGS (American Gem Society), IGI (International Gemological Institute), EGL (European Gemological Laboratory) and HRD (Hoge Raad Voor Diamant).

GIA certified diamonds often receive higher prices than stones graded by other labs because of the strict adherence to guidelines. If you don’t have a diamond certificate, a local jeweller will typically provide this free of charge.


The Precious Metals

Some metals are more expensive than others. Take platinum, for instance. It’s more difficult to mine than gold, and only 133 tons of platinum are mined annually (compared with 1,782 tons of gold). Because it’s rare and labour-intensive, platinum demands a premium price.

Most engagement rings are made of gold, platinum or silver. Since precious metals fluctuate in price, your ring’s value may change from year to year. 

Your engagement ring’s carat weight also affects its value. Gold comes in different colours, which are created by combining different types of metals in the alloy. Yellow, rose, and white gold are the most popular varieties. It’s not the gold’s colour that affects its value; it’s the purity. Gold jewellery typically ranges from 9ct to 22ct. Pure gold (24ct) is too soft to create rings.


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The Jeweller

Where you buy your ring can affect its value. If your engagement ring were created by a designer brand like Cartier or Tiffany, it would likely hold its value well. Keep the original box and papers, as these items will add to your ring’s value.


The Ring’s Age

Brand new rings are typically worth more than rings bought on the secondary market. When it comes to jewellery, vintage is defined as between 20 and 100 years old. Antique pieces are over 100 years. 

An antique ring with a unique history or rare diamond cut might command an elevated price. Our experts at JewelCover have specialised knowledge and can assess and value your ring based on current market conditions.


Finding Out if Your Engagement Ring is Valued Correctly

If you’ve previously had your ring’s value estimated, you might wonder if the figure is still accurate for today’s market. When you protect your ring with JewelCover insurance, you’ll receive a complimentary revaluation each year, so you’ll always know how much it’s worth. 

When you first apply for our cover, jewellery experts will review your sparkler’s documents and research how much it would cost to replace if your ring were lost or stolen. They use various factors, from the going price of precious metals and the quality of its gemstones to exchange rates and labour costs.

With an accurate valuation, you’ll know you have enough insurance to replace the treasured ring in the event of a misfortune. With this knowledge, you’ll wear it with peace of mind, enjoying its beauty without worry.

Each year when you renew your policy, our jewellery experts will revisit your engagement ring’s value because market conditions may have changed. 


To find out how much your engagement ring is worth, get a complimentary instant quote for JewelCover insurance. You’ll be shocked by the affordability of our cover, especially when you learn about its benefits:

12 months worldwide cover
An agreed value policy
Protection inside and outside your home
Return to your chosen jeweller
Complimentary annual revaluation

We’re here to protect your most valued treasure. Have questions? Give us a call at 1300 522 808.


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