Worth or Value of A Diamond Jewelry
What is the value of diamond? What is my diamond worth? The exact phrasing of the question may vary, but they are all asking the same question.
The value or worth of diamond have both sentimental value as well as objective value. Sentimental value is subjective and will vary person-to-person. My grandmothers’ original engagement ring, for example, has high sentimental value to members of my family. We know she received it from my grandfather when he first proposed, and my grandmother treasured it until the day she passed. It symbolized their love and was passed down to a special child. Jewelry’s sentimental value is important but is entirely subjective. SellMy.Jewelry quotes you one objective value. The first objective value is the retail value or retail replacement value. Insurance appraisals state this value. A good way to think of the retail replacement value is the amount of money necessary to recreate the piece of jewelry if you lose it. Typically, these retail replacement values are inflated because chances are you will not lose your jewelry a week after buying it but more likely 10 years down the road when prices have changed.
SellMy.Jewelry quotes a different value or worth. We have created advanced statistical algorithms to predict the price a dealer will pay you for your diamond jewelry. That resale price (think of this worth as its liquid value or cash value) is obviously less than you paid for it and less than the retail replacement listed on your insurance paperwork.