How To Value Your Ruby Ring
How do you value your ruby ring without having to take the ring into a local jewelry store? That's a great question, and we are going to help walk you through this process online.
Jewelry valuations can be subjective but there is almost always a definitive range based upon previous sales history of similar ruby rings. Like diamonds, the "4 C's" are used in determining this value by professional jewelers.
For consumer purposes, we will look to eBay as a valuation tool to help assess the fair market value of your ruby ring. Even before the pandemic eBay was selling a diamond ring a minute online, and it's almost assured that pace has picked up substantially with the current pandemic. Thefore, we will look to eBay for a price range to value your ruby ring.
You'll have to know some basic information about your ruby ring, such as the size of the ruby stone in carats and whether your ruby ring is natural or lab created. Otherwise, it's virtually impossible to value your ruby ring without taking it in for appraisal at a local jeweler.
The three main factors that you'll need to know in assessing the value of your ruby ring are the following:
Carats
Ruby weight is measured in carats, common carat weight examples are 1,2, and 3 carat ruby rings, although rarely is the carat weight exactly 1 or 2 ounces. Carat weight is almost always decimalized, for instance, 1.37 carats.
Color
The color of your ruby ring is directly correlated to the value. The deeper the red typically the higher the value of the ruby. If rubies are "too pink" they actually classified as "pink sapphires".
Quality (Natural, Treated, Simulated, & Lab-Created)
The quality of your ruby ring is extremely important. For valuation purposes, we will need to classify your ruby ring's quality as one of the following:
- Natural
- Simulated
- Lab-created
- Treated
Valuation Steps (eBay)
1. Go to eBay.com, and type "ruby rings" in the search bar, or click here to go directly
2. Narrow down your results by checking off the exact characteristics of your ruby ring, most imporantly:
- Main Stone Color
- Main Stone Creation (natural, simulated, etc)
- Main Stone Treatment
- Total Carat Weight
The more boxes you can check off, especially related to the choices above, will give you a more accurate valuation range
3. Sort your listings by "Price + Shipping: highest first". Click on a few of the ruby rings listed and review their description to ensure same characterstics. This sets your top price range.
4. Sort your listings by "Price + Shipping: lowest first". Perform the same due diligence as (3), and this sets your bottom price range.
5. The valuation price range for your ruby ring has now been established using eBay!