Do you want to know engagement rings prices? Or do you want to sell engagement rings? Knowing the worth of an engagement ring is a bit complex. There are several factors that affect the value of an engagement ring.
Here’s how to know the price of an engagement ring
The Retail Market Value
Find out the retail market value of the engagement ring. Engagement rings with the same characteristics have the same prices. Compare the prices of the engagement rings with the same characteristics. This might not give you the exact price of the engagement ring, but it can help you know the average cost of the ring.
Most people forget about the band. Diamond engagement rings have something to set the gem on. The gold band is used to make diamond rings. And diamond is measured in carats. Knowing the weight of the gold band can help you determine the price of the gold engagement ring. The price of the gold band is calculated per gram.
Warranties and Policies
Find out the warranties or policies that the jeweler offers. For example, there are jewelers that offer trade up or buy-back policies. Other jewelers offer ring resizing and free repairs. These value-added services cost time and money. Jewelers add this cost to the price of their engagement rings.
Where are you located? Different states and countries have different laws. And they have different sale taxes. VAT can affect the prices of the engagement rings. Factor in the taxes and duty fees in your state when calculating the engagement rings prices.
Find out the type of markup that a jeweler charges. Engagement rings prices vary depending on the jeweler. For example, you may pay more for the engagement ring from the big brand stores. Why? They have huge overhead such as marketing costs, inventory, salary, and rental.
Local chain stores and jewelers have cheap prices because they do not have additional premiums. There are local jewelers that sell second-hand engagement rings. These rings are cheap. And you can even negotiate their prices.
These tips can help you know the engagement rings prices. Make sure that you are buying a quality engagement ring from the fashion jewelry at EDC. Do not buy an engagement ring from a jeweler you do not know or trust. If you want to know the price of an engagement ring, check the warranty and policies and compare the retail market value of the engagement prices.