Remodelling an engagement ring is a very personal thing. If it is your current engagement ring you may want to update its style, repurpose the materials, or generally enhance its look. What ever the reason there are plenty of options available. If, on the other hand it is an engagement ring from a previous relationship t history of the ring may mean you want to just sell it on ASAP but this is a shame due to the extremely harsh way that 2nd hand jewellers buy in jewellery from the public. If remodelling is the choice for you it can breathe new life into it & make it cherished piece of jewellery once more.
In this article, we will answer ten common questions about remodelling an old engagement ring, providing you with valuable insights and guidance. If you’re considering giving your engagement ring a fresh look, keep reading to find the answers you seek.
Can you remodel an engagement ring? Absolutely!Remodelling an engagement ring is a popular choice among individuals who wish to update its design, make it more personalised, or change the rings symbolism. Skilled jewellers can transform your old ring into something entirely new while preserving its financial & sentimental value if relevant.
How do you turn an old engagement ring into a new one? There are several ways to turn an old engagement ring into a new one. You can change the setting, replace or add gemstones, modify the band, or even melt down the existing metal to create a completely new design. Working with a professional jeweller will ensure that your vision is brought to life. Yellow gold rings melt & can be reworked easily. Unfortuantely white metals like Platinum, Palladium & White Gold melt well but are prone to cracking when reworked. For this reason the jeweller may need to supply new metal. Your left-over setting that is not used can either be returned to you, or used in part payment. It may not be a great deal as it is only the scrap value but it will help to bring down the overall cost.
How much does it cost to modify an engagement ring? The cost of modifying an engagement ring varies depending on several factors, including the extent of the changes, materials used, and the jeweller’s expertise. It’s best to consult with a trusted jeweller who can provide you with an accurate estimate based on your specific requirements. As a rough guide a starting price would be around £595.
What should I do with my old engagement ring? This is very personal matter that only you can decide. Some people decide to sell their old engagement ring. The sad thing about this is that 2nd hand shops are incredibly harsh when it comes to buying old engagement rings from members of the public. They pay such a low price it is often barely worth it. There is another option – jewellery remodelling! By repurposing either the main stone or even different component parts of the original ring you can end up with stunning new jewellery that is worth the same, if not more, than the original ring. This works out far more financially viable than selling the original ring to a 2nd hand jeweller for an absolute fraction of the true value.
Do engagement rings lose value over time? The answer to this varies. The main deciding factor is when the ring was purchased. If a Diamond ring was bought a long time ago (say over 20 years ago), & a fair price was paid at the time, then the price will probably have risen. If, on the other hand, an engagement ring was bought recently & the owner tries to sell it on to a 2nd hand jeweller then there will be a huge loss. This is because 2nd hand jewellers buy in a very harsh way. They buy the precious metal settings for a scrap metal value (or sometimes even under scrap!). Even a new piece of Gold or Platinum wire to make a ring costs more than scrap. They do not take into account the labour costs of making a ring. When it comes to the Diamond they know the trade price for a similar stone but because it is a member of the public selling the ring they offer way below the market value. All of this means that if you are ever in possession of an unwanted Diamond engagement ring then either sell it privately, or remodel it into a new piece of jewellery that will retain its insurance value.
Does the separated wife still wear a ring? Whether a separated wife continues to wear her engagement ring depends on personal preference and individual circumstances. As wearing an old engagement ring could send out the wrong message a more popular choice is to remodel the old ring. This is where the Diamond is removed & reset into a totally new design that does note look like an engagement ring.
Which diamond cut holds its value? Diamonds have to be kept for many years in order for them to hold or even increase in value. The quality of a stone is probably more important than the cut when it comes to long term value. If a stone is a low colour & clarity grade then it is always a hard sell in future regardless of the cut. Although a higher grade Diamond costs more originally it will be easier to sell on in future. If you were considering the most popular cut then this would be the Round, Brilliant cut Diamond.
Are second-hand diamond rings worth anything? Yes, second-hand diamond rings can be worth a significant amount, especially if the diamonds are of high quality. Factors such as the diamond’s cut, clarity, colour, and carat weight, along with the overall condition of the ring, determine its value in the second-hand market. If a Diamond is GIA certificated this will make it easier to sell because the person/jeweller buying it has a guarantee of the carat weight & grade.
Do engagement rings go down in value? As mentioned above the key to the answer to this question is time. Was the ring bought a long time ago? If so (& assuming a fair price was paid) then the answer is most likely no. Over a long period of time precious metals & Diamonds usually rise in value. If the ring was a more recent purchase though then the value can significantly decrease. This is due to the harsh way that 2nd had jewellers buy in their jewellery. However, it’s important to consider that the value of the ring is influenced by factors such as market trends, changes in metal and gemstone prices, and overall demand. Remodelling an engagement ring can be a strategic way to enhance its value.
How much is a 1 carat diamond worth resale? The resale value of a 1ct diamond depends on various factors, including the diamond’s quality, cut, colour, clarity, and market demand at the time of sale. It’s recommended to consult with a reputable jeweller or diamond appraiser to get an accurate valuation. If a Diamond is GIA certificated a jeweller may be able to give you an estimated value via phone or email. If not, the jeweller will probably request to see the stone/ring in person to ascertain the Diamond’s resale value. Of the 1ct Diamond ring was a recent purchase you may want to consider remodelling it. This can retain or even increase the insurance value & can be worn instead of being sold at a huge loss.
Remodelling an old engagement ring offers a wonderful opportunity to transform a beloved piece of jewellery into something new and exciting. By addressing the ten questions posed in this article, we hope to have provided you with valuable insights and guidance. Remember, working with a reputable jeweller is crucial to bringing your vision to life and ensuring the final result is everything you desire. If you’re ready to explore the different jewellery remodelling categories, be sure to check out our website to look at these Different jewellery remodelling categories. Embrace the possibilities and give your old engagement ring a fresh start that will be cherished for years to come.
Feel free to get in touch for a quote to remodel your engagement ring.
